spqrusa

Banks Just Keep Getting Frothier

@Michael Clark - you may be right about getting leadership that puts bankers in the crosshairs, but I wouldn't "bank" on that :) You seem to underestimate the effective stranglehold that these cartels have on the economy. They now have a lot more zeros to prop-up this economy in whatever way they see fit. If they "crash" the economy before the next major election, you may get your wish. I will bet that the economy will be flat to marginally "better" by 2012 despite all the naysaying.

Andrew Jackson was the last POTUS to ride a wave of anti-banker sentiment, and my historical perspective is that he utterly failed to "fixed" the problem. The free banking era was a disaster in allocation of resources - there was massive massive corruption that was largely hidden from the people. Whatever you want to say about the current Fed, it has provided the best solution in regulating the most important industry in the history of history. The money supply is the basis of our national power (not just wealth) - it is as powerful in many ways as the tanks and bombs that protect it. It is already highly regulated. And, we need to continue to fine-tune the regulatory framework around Fed policy.

Now, the real problem is that we have a Congress that is primed to create even more opportunities for its supporters (i.e. banks and other mega-corps) for speculation and manipulation. The Energy and Health Care bills now before congress are RIPE for abuse. I am sure the majors are lining-up now to figure out how to abuse these new systems much like how they abused the housing system which lead to the massive defaults we see today. Not that they want default, but it is a natural consequence of government intervention and lack of oversight into these markets... I am afraid this is the nature of things - we create things we don't know how to regulate then complain about problems they create.

The Dems have been particularly adept at talking about how the rich get richer. All that while they bail-out the rich on the premise that if the rich get poor, the poor will get lots poorer. It is the very definition of insanity. And, the people have no real choice. The duopoly of political power in the US has made all this standard fare for how things "change". From what I see, the only "change" we will have is that left in our pockets along with some lint. These people have no remorse or thought about how their policies or practices utterly enslave the "little people" - we have been, and will always be, under the thumb of people not much different from Gaius, Silla, Crassus to Stalin, Hitler, Polpot, Mao, Bush, and Obama...

Not fare to compare our "nice" guys to other Tyrants? Why is it unfair? They all seek to subjugate us with taxation without representation, they conduct wars in perpetuity, to murder in the name of the state, to enlarge their supporters at the expense of the indefensible, to continue to support policies which lead to the deaths of millions and millions every year of the most indefensible class of people (the unborn), to levy endlessly increasing taxes in support of their war state, to be completely unaccountable in our elections (elections are a complete joke), to enslave our children even in the smallest matters with a public indoctrination system (err education to some of you) where in a failure to "pledge allegiance" to the flag gets you booted for the day, to subject us to a neo-eugenics movement to control every aspect of our health and welfare (single payer and its variants), to utterly enslave our spirits to an abandoned godless end. There is only one recourse in this matter, and I pray that He shows mercy to their souls.