Quote from athlonmank8:
Hey I'm all for doom and gloom, but criticizing the Fed for assissting FRE and FNM is INSANE. You guys really need to get a hold on reality.
Everyone on here just wants to bitch. You know who else bitches? People losing money. I think I can put 2 and 2 together.......
Sorry, Athlon. I read and like your take. But thats a load of BS, right there.
What you've said: a decade (or more...) of idle growth and deflationary prices - circa 1990's Japan - is far better than a gigantic flush and 2 hard years of corrective recession. Remember, Western consumption saved the Japanese flagging economy. Who saves the Worlds Economic Engine when our balls are over the proverbial barrel?? It will be different, this time...
Lets talk for a moment on Patriotism. This Country became the undisputed economic powerhouse through laissez faire capitalism and corporate accountability.
Now the system is one big Moral Hazard. Bailout-after-bailout. Deflationary fear mongering to rescue the largest and most criminal of reckless lenders. Inflation continues to rob middle America of their hard earned paycheck to bailout underwater Financials that engineered the RE boom/bust and securitization of fraudulent paper to begin with!!
And you know what?? They couldn't care less. They OWN the Fed. There is no death kiss for these guys. There is no accountability. Because at the end of the day, they parade themselves on CNBC and FOX as intractable fixtures of American Capitalism, that if left to collapse, will bring down every Mom-and-Pop and Big Box across the Country. This is Propaganda of a different sort - Economic Warfare to fear monger every free-market solution BUT A BAILOUT..... Gee, wonder why?! Americans are too stupid to understand the consequences of uninformed consent - not that WallStreet, er the Federal Reserve!... need it anyway...
30 years ago, there was some semblance of division between Washington and Corporate America. Perhaps a more opaque Chinese wall. Now, Special Interests own the United States. Our Secretary of Treasury is a rouge agent for WallStreet. Bernacke answers to Private Shareholders that own the FED. The System is inherently Fucked. Its a gigantic Ponzi Scheme designed to profit the small apex of American Banks at the expense of honest, hardworking Americans the Nation over.
Now we're supposed to sit here and back-slap these criminals for what a great job they did at raping the Country?? Is this what we've become?!
Heres a question - any of you guys actually remember whats its like make an honest living? How much of that measly paycheck went to gas, food, rent and necessities??
