I'm listening to David Stockman on Wall Street Journal's website right now.
AAAAAAAAAAAAAAAMAZING mi culpa, folks.
AOL On - Are Bonds a Bubble About to Burst?
What is the guy saying?
EVERYTHING you believe about Reagan's fiscal conservatism is wrong.
I WAS WRONG. WE MASSIVELY increased the Federal budget spending on military spending and told ourselves that we were somehow cutting government.
Basically right now, the man sounds like the so called liberals on this board. Every complain he has about HIS OWN policies, people like me (you know us so called clueless communists?) have been telling people all along!
OR those of you who are still loyal NEOCONS might find this video even MORE informative:
"In his upcoming book, The Great Deformation: The Corruption of Capitalism in America, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.
By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued -- in full -- at all costs. "
AAAAAAAAAAAAAAAMAZING mi culpa, folks.
VIDEO DESCRIPTION:
David Stockman, former Reagan budget director, says the Fed has become a serial bubble machine and t...he U.S. economy is headed toward collapse. He explains why he believes the machinery of government is massively failing, in an interview with WSJ's Jerry Seib.
AOL On - Are Bonds a Bubble About to Burst?
What is the guy saying?
EVERYTHING you believe about Reagan's fiscal conservatism is wrong.
I WAS WRONG. WE MASSIVELY increased the Federal budget spending on military spending and told ourselves that we were somehow cutting government.
Basically right now, the man sounds like the so called liberals on this board. Every complain he has about HIS OWN policies, people like me (you know us so called clueless communists?) have been telling people all along!
OR those of you who are still loyal NEOCONS might find this video even MORE informative:
"In his upcoming book, The Great Deformation: The Corruption of Capitalism in America, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.
By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued -- in full -- at all costs. "
Last edited by a moderator: