By Patrick J. Buchanan"The best way to destroy the capitalist system is to debauch the currency," said Lord Keynes.Ben Bernanke disagrees. A student of the Depression, the Fed chair appears far more fearful of deflation -- a vicious cycle of falling prices, debt defaults, home foreclosures and rising unemployment.Deflation is what America underwent in the 1930s. A Fed-created bubble Continue reading...
Liquidating the Empire
Tuesday - October 14, 2008 at 12:23 am
By Patrick j. Buchanan"Liquidate labor, liquidate stocks, liquidate the farmers."So Treasury Secretary Andrew Mellon advised Herbert Hoover in the Great Crash of '29.Hoover did. And the nation liquidated him -- and the Republicans.In the Crash of 2008, 40 percent of stock value has vanished, almost $9 trillion. Some $5 trillion in real estate value has disappeared. A recession Continue reading...
Day of Reckoning
Sunday - September 28, 2008 at 1:21 am
By Patrick J. BuchananHow did the United States of America, the richest nation on earth, whose economy represents 30 percent of the Global Economy, arrive at the precipice of a financial panic and collapse?The answer lies in the abject failure of both America's financial elite and the political elite of both parties -- the same elites now working together to determine how much of our Continue reading...
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