Retire Soon
Full time employment: Posting here.
- Joined
- Nov 23, 2005
- Messages
- 655
The massive debs that the public is accumulating in order to bail out speculators has become a justification for deep cuts in social programs. The rich are getting richer at the expense of the poor, and as Warren Buffet puts it, "But it's my class, the rich class that's making war, and we're winning."
Jim Grant fears that Wall Street will "Run itself and the rest of the American financial system right over a cliff." Robert Schiller warns, "We recently lived through two epidemics of excessive financial optimism ... and we're close to a third episode."
Paul Farrell believes there is something structurally wrong with our economy in his article linked below and that it is "deep in our character." He cites many credible sources including Jack Bogle from his book, "The Battle for the Soul of Capitalism." Paul thinks we have indeed lost this battle and along with our soul, we've lost our moral compass as America's character is now measured by our net worth.
The article goes on to say that we should not raise the debt ceiling and that a good depression now is far better than a Great Depression later.
7 reasons U.S. needs a Good Depression now Paul B. Farrell - MarketWatch
Jim Grant fears that Wall Street will "Run itself and the rest of the American financial system right over a cliff." Robert Schiller warns, "We recently lived through two epidemics of excessive financial optimism ... and we're close to a third episode."
Paul Farrell believes there is something structurally wrong with our economy in his article linked below and that it is "deep in our character." He cites many credible sources including Jack Bogle from his book, "The Battle for the Soul of Capitalism." Paul thinks we have indeed lost this battle and along with our soul, we've lost our moral compass as America's character is now measured by our net worth.
The article goes on to say that we should not raise the debt ceiling and that a good depression now is far better than a Great Depression later.
7 reasons U.S. needs a Good Depression now Paul B. Farrell - MarketWatch
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