Posted on 09/11/2015 5:12:38 PM PDT by Lorianne
You can pinpoint the moment that financial trust was lost in America: Sept. 17, 2008, the day the government bailed out American Insurance Group after not bailing out Lehman Brothers in the same week. The sheer arbitrariness of the bailout policy was even worse than the fact of the bailouts. And the Obama administration locked in the trend by continuing where President George W. Bush left off.
Voter trust did not return after markets picked up in 2009. Here not only the White House is to blame: The Federal Reserve chose to ease monetary policy and continues easy monetary policy to this day. Again, great damage came from the arbitrariness: A few authorities maintained and maintain that they alone can decide the timing of interest-rate changes.
Uncertainty over that monetary policy kept the economy spongy and growth low. As economist David Malpass has so often noted, easy interest rates help Wall Street but do not always help the middle class, especially not in the employment sector. Witness our sorry labor-force participation rate.
Donald Trump's rise in the polls is obvious evidence of the trust deficit. As in Europe, where slow growth is the "Old Normal," suspicious voters turn to populists (Trump) or outsiders (Ben Carson).
(Excerpt) Read more at news.investors.com ...
The biggest cause for Americans going in the toilet is economics. The middle class are going broke. The poor are getting by on welfare. The rich just going up and up. Trump understands the problem and he is the only one with the cure and fast. He is a man of action with less talk as a President.
At that point, an AIG collapse would have brought down the whole system with some severe world wide implications. Lehman bros importance quickly diminished as everybody realized that AIG was the last anchor.
The hard part to swallow (aside from getting into that predicament) was most of the money was used abroad.
The ACA put a huge burden on the working class family.A friend went from 40 hours to 29!!(why 29?....well guess)and ACA-approved insurance is $675 a month for the couple.
Remember that before ACA you could buy truly affordable insurance -maybe it maxed out at $25 or $50K annual benefits but that took care of 98 or 99% of people.
Why should Americans be born into economic slavery?
Rules for Changing a Limited Republican Government into an Unlimited Hereditary One:
6. But the grand nostrum will be a public debt…
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.
/Freneau
Socialism Is Legal Plunder - Bastiat
The supremacy of finance capital over all other forms of capital means the predominance of the rentier and of the financial oligarchy; it means that a small number of financially “powerful” states stand out among all the rest. The extent to which this process is going on may be judged from the statistics on emissions, i.e., the issue of all kinds of securities. - V.I. Lenin
The whole system needed to be brought down.
It still does.
The enormity of it would have been catastrophic. It was either spend a trillion+ now or wait until misery spread and spend a trillion+ later.
We don’t want the system to collapse like that. We want a controlled dismantling and demolition.
I personally do not believe it will be a controlled dismantling and I don’t think putting it off was a good idea. It may have been less bad then than what will be. Of course we are only conjecturing, but I don’t see any evidence that waiting means a more controlled situation.
It is all theory, but the cause is obvious. Government intervention pushed by ‘community activists’ and unscrupulous profiteers for banks to reduce lending standards and practices. Because it was all racist and elitist you know, and families with two parents working 5 minimum wage jobs should get an opportunity at the American dream right?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.