For months, talking heads have been barraging the public with endless statistics and reports which supposedly indicate that economic conditions are improving (or at least getting worse at a slower rate). All these reports are dubbed “green shoots” and are being touted as a sign that the American economy is now back on track and headed down the path to prosperity.
That the content of this video is from part of the main stream media (and MSNBC no less) is a real sign that the citizenry’s belief in the Federal Reserve’s con game may finally be nearing its end. That the Fed is now facing vociferous criticism and scorn from those outside the Austrian school is the best indication of a truly green shoot; it is a sign that there may be hope for the economy.
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The guy is coming to the end of his life. Why not come clean? Fine, he doesn’t believe in God and the concept of a final reckoning. And, sure, he is a sellout who pegs his self-worth to the valuations of DC-insiders. Yet, think about it, if he came clean, denounced the whole Fed Reserve shebang, and simply said “yes, Ron Paul is of course correct. It’s a all a game rigged to enrich a few while impoverishing the many,” he’d be in the history books for ages. He’d be a hero. He’d have his final glory and then pass on to wherever it is nonbelievers go with a halo on his head.
Come on, dear sir, renounce the system. Admit you did wrong. Be free.
As I watch this and hear the ancillary rhetoric about how this I have to worry.
Most of the rhetoric that this fellow was spouting was garbage, the only parts that were even quasi-accurate were when he was calling the current banking system arrangement a con. But he sounds like he is implying that it is something new that’s come about just recently. It’s been a con for 95 years. This is not new.
And that the biggest losers were school teachers and other public bureaucracy workers? The ones who were paid more than they would have been worth in the private sector AND got an outlandish pension? What about all the folks who didn’t get any of this frickin nonsense and still had to deal with the bloody price rises?
Members of congress elected to work for our benefit? Yeah, they definitely act and vote for THEIR OWN benefit and not to the benefit of the country at large (as if they could given the nature of government).
And their policy subscriptions? Not to actually take power away from the fed but just give more power for the government to regulate it? This reminds me of Gary North’s recent speech where he said something to the effect of
“Ben Bernanke does not want to be remembered as the man who destroyed the dollar. Chris Dodd doesn’t care if he’s remembered that way or not.”
I’m paraphrasing but you get the gist. The mainstreamers are agreeing that the system is messed up, but they’re spinning to make the idea of capitalism even more unpalatable and to hand even more control to the federal government. The old capitalism is bad mantra (despite it not being capitalism) and using that subterfuge to get even more government. I think what will likely happen if the federal reserve system is broken up is that we’ll just see the banking system actively controlled by congress. That would be scary as hell.
Let me understand this. The Fed is the God-father and the banks are the con men. So the fix is to make the con-men personally responsible for the actions of the God father. Simply brilliant! Only Government could devise such a plan.
I also take issue with those that were hurt. My buddy who is a cop, will be retiring in the next two years with a multi-million dollar pension package and unless hell freezes over, he’ll see every penny of it. My retirement fund is still down and may never recover. I find it very hard to cry or even get upset over government workers ( admins, cops, teachers, fire-fighters, etc ) being exposed to the same risks that private sector workers live with every day. That little box chart almost made me turn this off, but I realized that that had to be there to get MSNBC’s progressive viewership interested in listening to something negative about the government.
Dylan is absolutely correct, but he managed to forget that the FED keeps interest rates low by monetizing government debt, so that they can spend freely, without levying additional taxes. But, for a liberal, this is quite good.
And how can the ones who are responsible be held accountable?
“Stopping The Crimes Of Economic Interventionism.
One of the things that I love about the regression theorem of intervention is that it has the potential to bring the economic terrorists to justice. Each act of interventionism disrupts and corrupts the economy and each act of interventionism can ultimately be attributed to the individual or group of individuals who took the intervention.
Of course it will take investigative work but that is what is required for all crimes.
Once the interventionists realize that they will be held accountable for all of the resulting damages this criminal activity will mostly disappear.”
“The Regression Theorem Of Intervention Shows The Origin Of Error.
Is there any more evidence needed to show how one intervention leads to an endless piling on of more and more ridiculous intervention to try to solve the problems created by the first and subsequent interventions?
Similar to the regression theorem of money postulated by Ludwig von Mises what we have here is the regression theorem of intervention!
The regression theorem of intervention tracks the distortions back to the origin of the deviation from the ethical solution that would naturally come about in an unhampered market – all the way back to the first act of ego-driven interventionism.
There was no moral authority for the first act of intervention nor for any of the other acts of intervention that follow.
The regression theorem of intervention shows the perniciousness of ego-driven interventionism from the beginning onward!”
Don’t be conned by Alan Grayson. He is a big government, redistribution Democrat. When he talks about regulating the banks he is talking about the government, the executive branch, running the banks. He has the conscience of Machiavelli but not his technique. If you know anything about him you know he is a central planning promoter.
Regression Theorem Of Intervention Is Just And Even Satisfies The Empiricists!
In “Economics in One Lesson” Henry Hazlitt summarizes what is good economics and what is bad economics. Good economics looks at the economic consequences over the long run and how everyone is affected. Bad economics is looking at how only some people are affected and for a limited amount of time.
Implied in this summary is the ability to determine the effects caused by economic actions or policies. In other words, it is possible to identify all of the consequences.
This theoretical basis satisfies those who analyze economics using the subjectivist methodology. And because the effects or consequences are empirical, and real in that sense, those who analyze economics using empirical methods will also be satisfied.
Now, according to the regression theorem of intervention all of the effects of intervention and over the entire time horizon are theoretically traceable back to the original act of intervention. Each act of intervention is attributable to the specific interventionists.
Justice can be pursued and achieved by holding the interventionists accountable for their deeds, or more appropriately, their misdeeds. Investigations along these lines will uncover layer after layer of corruption.
It is no wonder why I refer to the most influential interventionists as economic terrorists. They are destroying all that is good about civilization by their ego-driven intervention. They steal and lie and cause wars which means that lives are lost and ruined because of their ignorance and malevolence.
Justice in this day requires protection of property rights and its corollary: accountability for any and all intervention into the economy.
Greenspan looks like the Simpsons when they preserved Montgomery Burns’ head in a jar, only much worse.
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