It’s too late for anyone to pretend that the U.S. government, whether under President Barack Obama or anyone else, can divert our nation from long-term economic decline. The U.S. is increasingly in a state of political, economic, and moral paralysis, caught as it were between the “rock” of protracted recession and the “hard place” of terminal government debt.
Even if the stock market can be shored up by more government borrowing for “stimulus” spending, it’s a temporary reprieve, because nothing can bring back the consumer purchasing power that was lost when the banks stopped pumping money into the economy through out-of-control mortgage lending. We simply no longer have the job base for people to earn the income they need to live.
The underlying cause of the crisis is in fact the debt-based monetary system, whereby the U.S. ruling class long ago sold out our nation and its people to the international banking cartel of which the Rockefeller and Morgan interests have been the chief representatives for over a century. It was lending on a previously unheard of scale for overpriced assets to people and businesses unable to repay that created the bubbles that burst in 2008, not only in the housing market but also in such areas as commercial real estate, equities, commodities, and derivatives. It was an explosion that reverberated throughout the world.
I told you. Now he's telling you. It's perfectly possible.
ReplyDeleteLet's do it.
Fantastic article which details from our early history how we got here economically.
ReplyDeleteWe've been slaves to the bankers for way too long. It's time for we the people to take control of our own economic destiny exactly as the author suggests. I'd love to see it in my lifetime.
My own little town here in south jersey just recently started an open air market this summer touting the beauty of buying & sharing goods with the locals and inviting those in other communities to join with us so we can share and exchange products. Baby steps which are headed in the right direction.
Thanks for posting laudy.
dot com and Enron were the last bell,
ReplyDeletenothing got fixed.
a lot like now.
How bad would it need to get, before people really start to wake the F Up?
I thought losing your retirement, homes and jobs would about have done it already..so far, not enough to make the tipping point?
Permaculture groups here have been using the Lets system( lets exchange goods and serices) for many years, and done well.
govt sees it as a threat to taxes though
I would send them the 29% of a cabbage quite happily, they don't think thats acceptable:-)