Wednesday, September 16, 2015

Failure on all fronts.

The initial spark [the financial crisis of 2008] has triggered a chain reaction of unyielding responses by those in power, including:
  • handing $700 billion of taxpayer funds to the Wall Street bankers whose reckless pervasive greed and fraudulent derivative products caused the worldwide conflagration,
  • 0% interest rates for the last seven years, a quadrupling of the Federal Reserve balance sheet to $4 trillion through QE to infinity,
  • government stimulus spending which increased the national debt from $10 trillion to $18 trillion in seven years,
  • ongoing $600 billion annual deficits,
  • using fraudulent accounting to disguise the insolvency of the Too Big To Fail Wall Street banks, and
  • a conscious choice by corrupt politicians and captured government regulators to not prosecute one criminal banker.

None of these initial responses have solved any of our pervasive problems or averted further emergencies. Not only haven’t these responses resolved the intractable economic conundrums facing the world, but they have exacerbated the next round of monetary disasters rapidly approaching.[1]

All these things are what the best and the brightest, the luminaries, the cognoscenti,
the big boys, the smart set, the mavins, the savants, the enlightened ones, the pure, the beautiful, the unbigoted, true sons, the Bonesmen, and the elect could come up with. The result was a circlefest in the stratospheric heights far above the reach of mere mortals courtesy of Our Leaders. Come one, come all.

Stay tuned for the next episode of "It Sure Is Fun Playing With Other People's Lives."

[1] "Fourth Turning: Crisis Of Trust, Part 1." By Jim Quinn, The Burning Platform, republished at Zero Hedge, 9/14/15 (bullets and emphasis added).

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