Posted on 03/17/2009 12:33:06 PM PDT by BuckeyeTexan
Since the beginning of the year, everyone has expected either one of two outcomes: (1) The election of Barack Obama would spark a recovery and the economy would be saved by his stimulus package, or (2) we would see a major wave of rising interest rates to pay for the Obama spending-spree that would spark serious inflation. But there is a much darker side to these shallow views. To put it mildly, it may just be a far more complex outcome than anyone has dared to guess. We may be in the midst of a "Waterfall Effect" that could undermine the very structure of Western Civilization. Historically, it has always been the debt crisis that destroys the greatest plans of men and dictators. This could be phase two of the collapse of Marxism. After phase one reshaped Russia and China, phase two may mean that it is the United States' turn.
Is it the Time to Turn out the Lights?
This Economic Depression is far more complex than meets the eye. I believe that the Investment Bankers, in their own greed, used the final days of the Bush Administration to try to grab as much as they could while there was an ex-Goldman Sachs boss in the driver seat. I believe they needed to scare Bush into giving them everything that they dreamed of, and Congress was stupid enough to hand-over a pile of cash with no strings attached. This scare tactic worked. The bankers got what they wanted and even settled scores by getting rid of their competition like Lehman. But in the process, they pricked the bubble in which everyone lived. They set in motion a collapse in confidence that is the critical key to a contraction.
(Excerpt) Read more at contrahour.com ...
Mmmmmmmmmmmmm...
Sounds more like “good old-fashioned” GREED was at work: pumping up a faltering economy, in hopes of making a killing before the feces hit the fan.
I expect this goes on for a while at the source, but I really have a lot of trouble singling out the bankers on this one. Even they only needed cash to stanch the losses the government forced on them. What really crashed everything was the recognition by money managers that Obama really was going to win and he really was coming after their funds. So they did everything possible to get out of the way (cf 500 bn going missing on 9/15/08). Then the Obamatrons got in control and really started trying to scare people. And it worked. I know I’m still scared and I’ve been through a major correction in my life (1987).
It will be amazing to watch how many alledgedly scholarly people are going to go out on a limb to try to hang this on some semi-guilty bystander to avoid having to call the president what he is : Mickey Bricks on steroids.
For those of you who don’t know, Mickey is the lead character in a British TV show called ‘Hustle’ where the cast are long-con past-masters. By the way, Mickey is of African extraction, probably more so than our Dear Leader.
The bankers did not cause it but they ran with it. The politicians and probably Soros triggered it to destroy the Bush Presidency and elect Hussein. The scope of the looting was magnified by the fact that all the government finance men and "economists" were out of one company, Goldman-Sachs.
It was/is a frantic looting of the shareholders and then the Treasury, by the bankers and the politicians and the bureaucrats- the "regulators."
Capitalism has, indeed failed, because it made the society rich enough that it could afford to support its intellectuals in idleness with time to think up great Utopian schemes and support great masses of "poor" to vote for all their schemes.
Sorry, but I can’t see Mr. Bush as a “victim” in this mess.
In 2002 (not sure of exact date)he told a cheering Congress,and an approving Public, he wanted to extend the benefits of home ownership to people previously considered “less qualified”. (No, I can’t cite, as I’m doing this from aging memory.)
His “benefit” was not money, but acclaim : something I suspect he wanted badly (typical pol in that respect.)
I never suggested such a thing. Bush knew what was happening and let it slide, some because he felt it was too much trouble to fight Congress and Barney about it, some because he thought maybe he could let it slide past the end of his term. Then when Schumer/Soros triggered it he had a Keynesian spasm and started shoveling money at it just like a Democrat would do.
We have just launched on a toboggan ride from the crest of the mountain, and like a surfer riding “in the tube”, we are just ahead of an avalanche that comes spilling after us.
Not much chance of outrunning it, we shall have to stay “in the tube”. Until we escape to the side, or are overwhelmed.
We are having an adventure, folks. Some stark realizations are now being made known to us, even as the world seems to come crashing about our ears. In the end, you shall lose everything, but perhaps, you may be able to regain equilibrium, and even in chaos, salvage a few very valuable lessons, which may be passed on to the next generation.
If they are willing to listen.
Has everyone forgotten that Bush wanted to privatize Social Security through Goldman?
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