At best we have been treading water since 2008. Check that, we’ve been treading water while the tide continues, unrelentingly to go out.
The Fed’s Consumer Financial Protection Bureau is a crony capitalist’s dream, but don’t expect to read about it in the press, especially in Bloomberg.
In the story below, a Bloomberg reporter refuses to acknowledge that the Consumer Financial Protection Bureau is renting space from an Obama bundler (major fundraiser) while its boondoggle building is being built.
Is he right?
Think of debt as a tower. It can be built up and built up, and if juiced by central banks can be built up even more. But eventually the “tower” becomes too heavy and it collapses on itself in chaos and pain.
Because in real terms (adjusted for inflation) you literally are poorer, with pretty much each passing day.
To be fair the Republicans have been the party of big business and big government for a long time too.
But for all the talk of “ending corporate welfare” we’ve heard over the years from the Democrats it sure is disappointing to see how quickly the Dems have abandoned this rhetoric to defend the billion dollar, taxpayer funded corporate slush fund which is the Export-Import Bank of the United States, aka “Boeing’s Bank.”
I feel that there is a whole group of people who have come to see the insanity of the direction we are headed in who still hold Ron Paul at arm’s length. This is too bad, and frankly ignorant.
We agree that this is very possible. Government is so large, so out of control, so unaccountable, and so expensive it is indeed likely to collapse one day. Less in a dramatic heap of rubble and more of a slow rusting rot. But perhaps a dramatic heap.
Bush II comes in a very close second. The country perceives that the United States has been under particularly poor management for (at least) 14 years. And the country is right.