| || |
March 31, 2009 - Ben Feldman
If there is one mantra we Americans mention repeatedly it is that we are capitalists and beholden to the free market. Well, maybe we are in verbal expression but when it comes to the pain, we send different signals to ourselves and the world. Right now we are in pain. And that causes us to lash out and misunderstand how we got here. We need introspection now which to Americans, of can do spirit, of yankee mercantilism, does not come easily. In fact,it doesn't come at all. The sad fact is that we did not cause this atrophy, this monetary collapse. That is, the working soul who labors at what ever he does to make ends meet did not prompt this state of economic degeneracy. Who did? From 2000 to 2007, when Alan Greenspan was the Federal Reserve Chairman, the Fed printed more dollars that was printed from the year 1700 to 2000. Did you read that carefully? In 7 years the Fed quacks expanded the money supply in an orgy of financial debauchery. They spent and spent and spent like psychotic drunks on our credit card. Now you have heard the name Chris Dodd, Senator from Connecticut and Barney Frank of Massachusetts. Yes, they are partners in this debacle but they don't print money. They are incompetent quack politicians but the Fed is the culprit and the Fed is slipping by the radar of finger pointing because Americans don't have a clue as to how the Fed operates and what it is. Which harkens the sage saying of the eighteenth century aphorist Joubert who said, "People know how to know but not how to choose". That is to say, we choose politicians who are incompent and who believe you get out of debt by borrowing or spending money you don't have. If that is sane, then what pray tell is psychosis? Indeed, I believe America is in a sort of waking psychosis. The problem is that the politicians are thinking. They should never have been given that responsibility. The free market is aspirating. It needs leadership, not celebrity Jay Leno performances by economically naive politicians. The blame for our suffering is the Fed who created an unsustainable boom that contracted with the housing bubble . The rest is history which is leading America into a government that is not anything like the Jeffersonian idea of small, weak, limited.
No comments posted for this article.
Post a Comment