Almost every Fed chairman in the past 60 years has manipulated
interest rates to brighten the economic outlook for incumbent presidents
or newly elected presidents who won by large margins. The
purchasing power of the U.S. dollar has fallen 94 percent in the past
100 years. The only way you can create inflation is by creating more
money that is backed by the same reserve assets; the Fed is the only
entity that can create more money. Ben Bernanke’s quantitative easing
(QE) programs have pumped billions of unfunded dollars into the
economy, thereby setting us up for massive inflation in the very near
future. If this isn’t a form of financial terrorism, it is incompetence of the highest order.
It is an oft-repeated axiom that a person can learn a whole lot about
a society by how it treats its poor; but just as much may be learned
by looking at how that same society treats its rich. Indeed, the economic
future of the poor—and our nation—will be determined in the coming decades by how we treat the people in this country who create great wealth. It will be determined by our understanding of the
so-called rich and by our need to foster and protect this minority of
true wealth creators.
Great wealth is often created by the launching of great surprises, not by the launching of great enterprises.
Ziad K. AbdelnourSocialism tends to destroy wealth. Socialism does this by draining its vitality away. It does this by destroying the desirability of wealth
as a wholesome value. Socialism kills the chance that any community can survive by browbeating the concept of vested ownership, on which community survival is always dependent in the end.
Socialism tends to destroy wealth. Socialism does this by draining
its vitality away. It does this by destroying the desirability of wealth
as a wholesome value. Socialism kills the chance that any community
can survive by browbeating the concept of vested ownership, on
which community survival is always dependent in the end.
The wealth of America isn’t an inventory of goods; it’s an organic,
living entity, a fragile, pulsing fabric of ideas, expectations, loyalties,
moral commitments, visions, and people. To slice it up like an apple
pie and redistribute it would destroy it just as surely as trying to share
Stephen Hawking’s intellect by sharing slices of his brain would surely
kill him.
The recession, which started in 2007, is ongoing. The
underlying fundamental causes of the meltdown have not been
addressed. Banks are still not lending. Companies are still not hiring.
Congress has still not seriously addressed the growing debt. Neither
has Congress checked its own out-of-control spending. The much
lauded reforms installed by Frank-Dodd are nothing more than another
expansion of federal government control over the engines of wealth
creation.
We are on the edge of economic collapse unless we wake up and
forcibly take back control of our government and economy. Over the
past 100 years, the game has been rigged, slowly and piecemeal at
first, always in the name of serving the greater good, preventing the
next bubble or providing greater transparency and security. It is as if
the American people are suffering from battered spouse syndrome; the
politicians, the greedy bankers, and the Fed all lie to us while they
steal our wealth and our liberty. Every time we call them on it, they
promise to never do it again if we’ll just give them one more chance.
So we let it slide and then act shocked when they do it to us again.
Maybe we should have our collective head examined.
We have become a nation incapable of living within our
means. We seem incapable of accepting the reality that owning a
home is not and never was intended to be a right. It is a reward for
working hard and saving up enough money to not only purchase a
property, but to maintain and improve it.
We live in a society that is based on 30-second sound bites. We have
technology that puts all of the information of humankind at our fingertips,
but we have the attention span of a three-year-old at a carnival
midway on the Fourth of July. We throw around a lot of words like
democracy, federal, republic, nationalist, socialist, liberal, and right-wing—but
do we really know what they mean?
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