Miss this, and you miss the whitewash. This documentary is an implicit whitewash. It relies on an assumption, namely, that we are not dealing in 2012 with a single political administration, which began in January 2001. Sadly, we are.
By tracing the start of the budgetary nightmare to 2001 and the Bush administration, North jumps the shark. The fiscal insanity began long, long before Bush.
Yup. Try Kennedy.
Bush certainly didn’t do anything to stop it, especially TARP and the bailouts.
Yes, it began with LBJ’s guns and butter approach. Trying to run the war in Vietnam and his Great Society at the same time. By the Spring of 1968. we had run out of money. It was the looming liquidity crisis which, more than the Tet debacle, that persuaded Johnson not to send more troops to Asia. Seeing the hand-writing on the wall, he bailed out, and left the mess to Nixon. Nixon had the choice of suddenly abandoning the South Vietnamese and beginning a withdrawal.But he also did little to slow the social spending, and so he had to abandon the existing currency arrangement that been in effect since 1945. Since then we have been dealing with fiat money.
When was TARP and the bailouts?
Yeah, but that wouldn't help the author prove his point (nor make money).
This author doesn't mention the 'mess' that Clinton handed to Bush. Maybe he's too young to remember.
Monday is empty chair day. Pass the word.
I think that is correct but he time of the Bush administration is when the line between flirting with disaster and inevitability of disaster was crossed.