The author is right on the money. In fact, the Federal Reserve - a private bank - should not exist. Jefferson spoke against it. Jackson fought against it. But it is here and controls the wealth of a nation.
I look at the trolls and star-wars mutants walking around the malls of america today and think that perhaps a depression where people had to work with their hands again might not be too bad. We have become a cry-baby nation, bailout nation, starbucks and SUV nation, video game nation. Greenspan is obviously a traitor -- he was unconsiously a traitor who knew what this would do -- read his early writings from the 1970's. Bernake is going to save Wall Street. But perhaps the coming collapse and depression will wake up the masses of nothing human beings in our country today.
Joe
of VT
@
May 01, 2008 06:48:23 AM
Wake up -- with another jolt of Java
I like your explanation. Many who know people who endured the first Great Depression are receiving anedotes, survival information and encouragement to survive. Visit www.RunOnTheBank.org to see what happens when many of us 1) withdraw our bank savings, transfer our pension and investment accounts from banks and investment firms and convert it to liquid cash, short term I bonds, and transparent CD's in Federally insured credit unions. Watch the bankers raise the savings account interest in response. But we savers need some "humble pie". We won't let the banks have our precious savings. Its time for them to be destroyed by their own greed.
I'm forever blowing bubbles and watching the slime cower in the shadows. Lets see " I'm forever blowing bubbles" together---that mansion in the sky is losing "value" every day.
Teresa
of CA
@
May 01, 2008 01:41:38 AM
Wake up
The federal reserve has nothing to do with federal goverment, most people don't know this. It is a group of greedy men who thrive to control the world economy. They were the driving force of the depression and are behind the current recession. Abolish the federal reserve and give us back are freedom!
fedup
of OH
@
Apr 30, 2008 22:37:23 PM
What the hell
the housing market created it's own chaos by luring people into believing that they could buy that huge house even though they were only making enough to get by on month to month...
the rates dont help anyone out who isnt already dead or past dead...
the final straw is the oil price and the fact that we are paying for poke your eyeballs out gas prices and still getting paid pennies with no insurance.....before long the work hours will have to change because there isnt enough buses to take everyone who cant afford to buy gas for their cars to get to work!
the moment the gov wakes up and sees that the joke of a stimulus package is a little too late to stimulate anything but their own ego and make them feel good about themselves in the morning...the tiny sum that's coming is paying for the electricity to stay on so contact the big business CPS Energy and ask them to put the money back in the economy while gov precedes to give them money to help big business along
What a bunch of crock....demo or rep ...they are just self-serving individvals trying to get that grand white house on the hill.... I'd settle for the opportunity to own the house I have rented for the last 5 years and still pay the amount I pay for rent, buy clothes for my little ones with having to worry what stupid bill needs to be paid....or buying time to pay it!
Deta
of TX
@
Apr 30, 2008 17:57:52 PM
Bernanke/Inflation & the Markets
I agree with Wiliam Fincklestein that the fed should not attempt to manage negative market performance through easing monetary policy. Let a market bubble work itself out in any sector.The Fed should concentrate on managing inflation and credit vis a vis productivity.
Helping the most affected by slow ecomic cycle is not the Fed's job. Let the government worry about that by providing support in specific cases.
mateen mirza
@
Apr 30, 2008 17:48:26 PM
The Fed
Amazing, how it now comes to light that Greenspan was inept at managing the Fed. I think that in more recent years he was trying to make up for the fact that in the early 90's he couldn't see the recession we were in if it landed on him. Back then he kept rates too high for too long. The real shame of it is the huge going away party that was thrown for him in Wyoming when he retired. I would like to know how much taxpayer money was used in funding that???
Steve
of PA
@
Apr 30, 2008 17:36:36 PM
I have nothing to say,
but hell holds a place for all the guys taking our country down!
kelvin
of GA
@
Apr 30, 2008 17:31:09 PM
Federal Reserve
I believe history is beginning to show that Mr. Greenspan was NOT the genius he thought he was. Mr. Bernake seems to be following along the very same course. No change. Our Country should replace these guys with people with some common sense and street smarts. The only thing that Mr. Bernake seems to know to do is cut the rates. At some juncture, he will run out of rate to cut. Then what??
C.C. Trotter
of AL
@
Apr 30, 2008 17:30:59 PM
Federal Reserve
All these critics of the Fed are hilariouis. Not one of them would last 24 hours in that job. I assume that is why they are only critics. They can't find real work.
Ralph Sampson
of AL
@
Apr 30, 2008 17:28:59 PM
Options !
At least we still have options or freedoms to wait out this dip or til the cows come home to roost. in the mean time the cows are just going to have to roast." Well, ollie .look what sort of a mess have you gotten us into now?" that is the question being asked ? 85 % of what is feared will not likely happen even though the trends /models will indicate what will happen. The future shows continued slugishness even though a bottom is shown in certain areas and positives in others. it's the unknowns or unforeseen events that drag our predictability.
Joe of VT @ May 01, 2008 06:48:23 AM
Teresa of CA @ May 01, 2008 01:41:38 AM
fedup of OH @ Apr 30, 2008 22:37:23 PM
Deta of TX @ Apr 30, 2008 17:57:52 PM
mateen mirza @ Apr 30, 2008 17:48:26 PM
Steve of PA @ Apr 30, 2008 17:36:36 PM
kelvin of GA @ Apr 30, 2008 17:31:09 PM
C.C. Trotter of AL @ Apr 30, 2008 17:30:59 PM
Ralph Sampson of AL @ Apr 30, 2008 17:28:59 PM
tom kern of FL @ Apr 30, 2008 17:21:30 PM
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