Comments on: The U.S. Economy and Bad Government Policies

By: siamdave

siamdave — Sat, 02 Aug 2008 03:24:50 +0000

All the author says is true, but like so many economists today he has been trained to have a gaping blind spot towards the single major problem we have concerning all of our economic problems – where does the money come from in the first place? Private banks create 95+% of the money supply of today’s country, with no real government oversight (yes, the rules say there is oversight, but it should be obvious from the excesses of the last 30 years that this oversight is nominal at best, a fiction at worst). And that the banks charge interest on the nation’s money supply explains the endless inflation. The normal business practice of raising prices faster than wages are allowed to increase, hand in hand with this built in inflation, explains the ever tighter family financial situation – some of us are old enough to remember times when one adult with a half decent job could support a family, now the norm is two adults working to support a family, and if they only have half decent jobs it’s only half decent support. While the banks, raking in that endless golden interest stream, prosper no matter what befalls the rest of us (yes some banks can fail if they get too out of line with their excesses, but that is only shuffling money and property between those who create the money, who are of course a predatory lot and as nature demonstrates well when a predator falters his fellow predators are quick to remove him from the competition). Some more detail here – Banketeering – how the banks have been stealing trillions from you, and the tap is still running http://www.rudemacedon.ca/dlp/box/box01-money.html .

By: Richard Posner

Richard Posner — Fri, 01 Aug 2008 23:16:13 +0000

Once upon a time, when America had at least a veneer of humanity over its’ hegemonic agenda, the working class was afforded the opportunity to make a living. That has not been the case for many years now. All the tools, the “things” the wealthy have used to achieve their self-proclaimed superiority were made by some “inferior” worker. All the luxuries they enjoy, the food they eat, the clothes on their backs, virtually everything that allows them to survive is produced by the labor of other human beings. But because those people have chosen the life of a worker rather than an exploiter they are inferior. The rich are the predators the poor are the prey. They have no right to whine about their condition. If they had any intelligence or ability to do anything of value then they would be the ones with all the money and power! It’s so simple and obvious! I don’t know how I could have missed it!
The monsters that now own America and most of planet Earth simply don’t care about ANYTHING beyond their own immediate gratification. Their insatiable lust for wealth and power is pathological. This small minority of us are genuinely evil creatures that actually take joy in the awareness of their loathsome and inhuman actions. They literally worship money and power and will stop at absolutely nothing to obtain more no matter how much they already have or how much suffering and death they cause. How can such a tiny fraction of the human population wield so much power and cause so much harm?
The debts of the past have come due with interest. Unless the men and women of America are prepared to step up and put their lives on the line the human race faces extinction in the not too distant future. If we don’t starve the capitalist monster it will ultimately consume us all.
http://coldwarproductions.blogspot.com/2008/04/obscenity-of-free-market.html

By: mitre

mitre — Fri, 01 Aug 2008 16:53:10 +0000

Thanks for not letting Greenspan off the hook.