We can't have "leave me alone" French crap when we have a central bank regulating currency!! That is what caused this mess. It was about 65% Fed, 25% Government, and 10% bankers/speculates. It was not the Guy making a couple hundred K a year. Punishing him hurts everyone.
Look the FED had interest rates way to low for way to long. This suited Bush because it made the Economy "look" strong. While he paraded the military around the world. When you make money available with low interest it causes people to Malinvest. This is what happened now we are seeing the correction from all the Malinvestment.
This is in no way an indictment of Capitalism or Lazie fare or whatever french crap you said. Because we don't have that at all. We have Keynesian economics that is a failed system.
Laisse Faire - Invisible hand - Etc.
Though yeah, you are right, it is not an indictment of Capitalism. It is an Indictment of the Federal Reserve and its mismanagement of the nation's money supply.
Mismanagement that caused the Great Depression, and is causing this Recession.
Luckily for us, we have...
China to save us from our stupidity.
Hell, we should give them a great big whopping thanks.
They are still buying up treasury bills, thus protecting us from the full effects of the mismanagement of the Dollar at the hands of the Federal Reserve, and BCBO (Bush/Clinton/Bush/Obama.)
How they do this is by buying up our debt (Trillions and Trillions of dollars worth) which means that instead of having the dollars the government is printing, and has been printing, hanging around here pushing prices up to the moon, they are safely sequestered in lock boxes in China where they can't pursue goods here.
What does China get out of this?
They get to keep the dollar at insanely artificially high levels that makes their currency look weak. Which means their goods are cheaper than our goods, and their labor is cheaper than our labor.
Machiavellian Economics Writ In Modern Finance.
Of course, the Politicians are not going to tell the Public the Truth. If they actually admitted that China was saving us from their stupidity it would make them look bad.
So they are going to avoid telling us the truth.
What just happened was the truth bitch slapping them in the face. The economic policies of the last century can not continue. We can not continue inflating the dollar, because eventually countries will no longer be able to purchase dollars.
When that happens we will have insanely high inflation.
It will also result in the dollar crashing and the price of imports going sky high.
Now, this would not be necessarily a bad thing, except for the fact that it looks like by the time Europe and China let the US fall we're going to no longer be an industrial nation.
So not only are we going to be bankrupt, but we're going to be effectively de-industrialized at the same time.
This recession is just a taste of things to come,
and as my signature says,
all BCBO (Bush, Clinton, Bush and Obama) have been doing is trying to solve the problem by giving us more of what caused the problem. Easy money.
They don't seem to understand that they are trying to treat an alcoholic by giving them more whiskey...
