The Socialist Dilemma
Bring candy and flowers When bankers are cursed While society is strong So greed is defeated But with pay guaranteed When profit is gone While people are weak So progress will stall Be on guard against “New Deal 2″ and useless stimulus packages
The fallout over this economic crisis may include disastrous impulsive reactions against free market capitalism. The enemies of freedom will argue that greed caused the subprime mess, therefore we need a new system that punishes those disgusting greedy corporations to benefit suffering innocent working poor families. I have already seen several editorials blaming a lack of regulation and demanding the government reign in the evil bastards on Wall Street. Open minds are closed
I strain to avoid rolling my eyes every time I hear someone claim to have an open mind. People who believe their mind is “open” have actually managed to convince themselves that bias will not influence their decisions, failing to recognize that believing you have no bias is itself a bias. In the real world, in almost every case people are either biased or ignorant — it’s called cognitive dissonance. Everybody panic!
As stock markets around the world descend into oblivion on this joyous holiday, I thought I would take the opportunity to remind everyone that bankers will never let their empires slip away into the abyss. The Federal Reserve: fourth branch of government?
In previous commentaries I have scolded the Federal Reserve’s indecision and the Federal Government’s spending habits. Recently in the article Bernanke fiddles while Wall Street burns I solicited rational explanations for their behavior. The response has not been overwhelming, but today I came across the following document from the Federal Reserve Bank of St. Louis that peaked my curiosity. The Money Masters
The history of America’s struggle against European international bankers and essential background for the understanding of our current economic crisis. The most important documentary for those interested in truth. (click below for the rest of this video) Bernanke fiddles while Wall Street burns
Do something you idiot. It’s incredible how a Professor who earned much of his fame by criticizing the Federal Reserve’s ineffective communication strategy is proving to be one of the most incompetent communicators in recent history. Financial Bloat
Why bankrupt banks may be good for America There are too many 20-somethings running around Wall Street making tens of millions of dollars every year. They actually think that’s normal, it’s not. In any economy there is a finite amount of money available to be spent without introducing inflation and allocating a disproportionate amount of that money to financial institutions is a great way to create the conditions for inevitable collapse. How to save America
The fundamental problem with America’s economy is an obsession with wasteful consumption. Until that is resolved, nothing will change in the long run. It has become normal and acceptable for people to exploit easy credit for housing, cars, appliances, electronics, or anything else you can charge to your plastic card. |
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