The 2007–2008 financial crisis had its genesis in the United States housing markets, but it rapidly spread to other economies, first to the United Kingdom, but then almost everywhere else, including such unlikely spots as Iceland whose banking system collapsed. Because events in the United States triggered the crisis, this essay will concentrate on the US causes although they had their many counterparts elsewhere. FULL ARTICLE
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you mean everything wasn’t caused by the “free market,” and maybe, just maybe, the government is making problems for us economically?
nooooooooo, say it ain’t so!
The Right Monetary and Fiscal Policy Can not Get Us Out of the Depression
DIE ZEIT: Can the right monetary and fiscal policy keep the US out of a recession?
Alan Greenspan:
“Probably not. Global forces can now override most anything that monetary and fiscal policy can do. Long-term real interest rates have significantly more impact on the core of economic activity than the individual actions of nations. Central banks have increasingly lost their capacity to influence the longer end of the market.
Two to three decades, ago central banks were dominant throughout the maturity schedule.
Thus, the more important question is the direction of long-term real interest rates.”
Alan Greenspan
The Great Irony of Success
© ZEIT online, 30.1.2008
A Credit Free, Free Market Economy will correct all of those dysfunctions.
The alternative would be, on the long run, to wait for the physical destruction (through war or rust) of most of our productive assets. It will be at a cost none of us can afford to pay.
This Age of Turbulence People Want an Exit Strategy Out of Credit,
An Adventure in a New World Economic Order.
A Specific Application of Employment, Interest and Money
Press release of my open letter to Chairman Ben S. Bernanke:
Sorry, Chairman Ben S. Bernanke, But Quantitative Easing Won’t Work.
Yours Sincerely,
MC Shalom P. Hamou
Chief Economist & Master Conductor
1776 – Annuit Cœptis.
i made a copy of this and sent it off to my Congressman…sadly he already voted FOR the stimlus package last night. he told me he never heard of what the author wrote, and he did read part of the bill (HR-1) I still told him…he was Fired !!
I’ve heard stories about people in congress getting calls 100 against to every 1 for from last fall’s bailout bill. And they still passed it.
Makes me think this whole representative government thing they have lording over us is really just a sham.
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