The One-handed Economist, via Goldseek.
“Mr. Krugman, the whole New York Times and the rest of the nation’s media supported Henry Paulson’s program to openly steal $750 billion from the American people and give it to Goldman Sachs. Paulson didn’t even pretend to be helping the poor. He was just stealing from the average American to benefit the rich. Also, the character of the rich has changed. The Robber Barons of the late 19th century were great, productive geniuses. They got rich by increasing production, and they made the rest of the country wealthier with them. Henry Ford made himself rich by making a car so inexpensive that the average guy could afford to buy it. But today’s rich get rich by having the government (via the central bank) manipulate stock prices up and thus bring them $billions in stock options. Socialists of yesterday, who violently hated the old rich, do not have any problem with today’s rich, who are nothing but a bunch of parasites.
Well, people, this is the world into which you were born. Your “education” has consisted of an onion of lies, and all of these lies were designed to steal your money and make you a serf of the new rich. The original government of America was set up to protect the right of property. Now the government robs from the poor and gives to the rich. All the “economists” you read in the news papers or magazines are charlatans and crackpots who tell us that the Federal Government does not have to balance its budget and that creating money out of nothing does not depreciate its value.”
My Comment
Strong, good, true words.
Don’t be fooled by anyone who tells you ordinary people “deserved” this for being stupid. Or, as Mr. Blankfein puts it, he was doing “god’s work.”
Most ordinary people were busy doing what they were supposed to be doing, while behind a smoke-screen of propaganda the predator class was conniving with various useful idiots to snooker the country.
L, usually agree with you. The predators and their enablers have behaved dispicably. Created no value and just took. Where I par company with you is that a lot of the ¨ordinary people¨dreamed of being like the predators. How often I have heard people say to me about their job: Yeah Rob its a scam and a hustle but thats the game and if you want to get ahead you must play it blah, blah blah. Yes many of those who were robbed were doing what they were supposed to be doing. Still, the predators are not just those on the top but rather a predator ethos throughout the classes contributed to this. Something for nothing, magical thinking and just plain human nastiness.
Robert –
I’m with you..on the professional classes (real estate agents, bankers, loan officers, traders, fund managers, house flippers etc. etc) I’m not talking about those people.
I’m talking about millions of people who’ve never done anything but go to work, with the belief that the rest of the world is operating as it should. I’m talking about small farmers and laborers in Africa and Asia who had nothing to do with this but will bear the brunt of high inflation…I’m talking about naive home owners who got scared into buying into a bubble believing prices would never come down and they’d never be able to afford it; I’m talking about frightened pensioners who get talked into investing in risky assets because they’re no longer getting any return and are desperate to keep up with living costs..
I’m talking about average people who now have to be immersed in finance 24/7 to keep up with what’s happening.