Yankee Running Dog

Tuesday Outlook: Commodities, Global Markets

"We’re paying a big price for past excesses, primarily from bubbles caused by easy money policies of the past combined with the demise of Glass-Steagall in 1999. So the lying and cover-ups just continue apace since, given the election cycle, politicians would just as soon inflate as admit mistakes and make the hard choices. It’s all quite shameful but that’s what we have and it might be the undoing of our democracy."

Well said, all I would add is that it might go back to the Federal Reserve Act of 1913 (also the year that income taxes were started, who knew the connection?) . Something has to be done about the Fractional Reserve Banking that controls the world. As long as the fools in charge of the financial oligarchy can print air money at 10 to 1(what they are supposed to, more like 30 to 1 after they finish their accounting tricks) we will continue to go through the boom bubble bust and dust cycle. They have coined a nicer name for the game, the business cycle. A total rethink on leverage (air money) needs to brought to the table, but I doubt that the people in charge want to change the rules. It is shameful to watch what is going on.