For the financial crisis that has wiped out trillions in wealth, many have felt the lash of public outrage. Fannie and Freddie. The idiot-bankers. The AIG bonus babies. The Bush Republicans and Barney Frank Democrats who bullied banks into making mortgages to minorities who could not afford the houses they …
“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 …
As the U.S. financial crisis broadens and deepens, wiping out the wealth and savings of tens of millions, destroying hopes and dreams, it is hard not to see in all of this history’s verdict upon this generation. We have been weighed in the balance and found wanting. For how did …
In a deepening recession, what does the reasonable man do? Seeing friends laid off, he will get rid of all but essential credit cards, dine at home more often, terminate unnecessary trips to the mall, put off buying a new car, give up the idea of borrowing on the vanishing …
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 …
How 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 …
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