..."A secret agent of Ayn Rand all these years?"
This guy is the person most singly responsible for the housing bubble and subsequent meltdown. We're still paying the price for his nonsense.
Now he tells us...oops...there is really nothing you can do about it so just lie back and think of England while it's happening.
You really do have to wonder.
One other little snippet I found interesting in this article was that Ben Bernanke is now doing the same thing! Sort of like Greenspan peed in one pot till it over flowed into the soup and now Bernanke is just picking another pot to pee in but it will eventually over flow into the soup we all eat just as surely as the last one.
This time the Fed is force feeding money into the system and calling it: "quantitative easing". With rates at zero what do you think is going to happen when global food and commodity prices get out of the reach of ordinary folks just like the cost of housing did under Greenspan.
It is one thing to be foreclosed on and have to move to another home. Or even be homeless for a while. What do you think might happen if the cost of even feeding yourself and your kids is out of reach and the GOP has killed the food stamp program as your last safety net, as they are trying to do? And that's just in this country.
I know what I would do. I've done it before. I haven't forgotten what it felt like or how it was done for that matter.
True, I'm not as fast on my feet as I once was and that bus may well hit me the next time I stand in front of it. But then again, I might just still be willing to see if the driver is willing to run down an old geezer while looking him straight in the eyes. She wasn't the last time.
http://www.smh.com.au/opinion/politics/uncle-sam-heading-closer-to-a-fresh-financial-meltdown-20110404-1cyil.html
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