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FreeMarkets (99.20)

I Blame You For Our Financial Crisis

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October 15, 2010 – Comments (17)

It doesn't take long to figure out who's responsible for our current economic situation. 

Economists (the standard run-of-the-mill economists) will blame the consumer for holding back on their wallets when we need them to spend more than ever.

A Democrat will blame the eight years of GW Bush, for his huge deficits during prosperous times, the lax regulation of banks and other industries.

A Republican will blame TARP and huge federal deficits, even though they voted for all of it pre-2009.

The TEA Party member will blame Barney Frank, Harry Reid and Nancy Pelosi (and the rest of the Democrats) for pushing legislation that allowed sub-prime borrowers to get loans.

Astute financial FOOLS will blame Greenspan for interest rates that were too low and an SEC that would rather drink with Bernie Madoff than actually look at his books.

Peter Schiff / Ron Paul blame the Federal Reserve and fiat currency.

Sadly, everyone above is wrong.  The real blame falls on YOU - the entire adult aged American public and their deceased parents, grand parents and great-grand parents.  We've all been swindled with promises from our leaders and our Federal Reserve.  Promises like mortgage tax credits, the end of recessions, real banking reform, Social Security, free health care, better education for the children, etc., etc.

Some readers will say "I haven't been swindled, in fact I blog regularly about the horrors of the FED, politicians (Dems & Reps), fiat currency, and the magic of Austrian economics."

To this person I ask one question (and I'd like a response) "Isn't the smartest rat in a cage still a rat stuck in a cage?"

Sincerely,

FreeMarkets

PS: Who is seriously thinking of ways to break the cage.

17 Comments – Post Your Own

#1) On October 15, 2010 at 9:00 AM, outoffocus (24.48) wrote:

I've been blaming us for some time now.  The only reason all these leaders can get away with this is because we'd rather get a government handout than take our bitter medicine. Thats why this November election is nothing but a joke.

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#2) On October 15, 2010 at 9:58 AM, eldemonio (98.81) wrote:

Despite all my rage, I'm still just a rat in a cage.

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#3) On October 15, 2010 at 10:11 AM, EnigmaDude (95.73) wrote:

Huh - I always pictured myself more like a Bull in a China shop.

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#4) On October 15, 2010 at 10:34 AM, dbjella (< 20) wrote:

eldemonio

Thanks for the chuckle :) 

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#5) On October 15, 2010 at 11:32 AM, Dow3000 (< 20) wrote:

"...you need only look in the mirror."  Hehe, thanks V...shall we go blow up parliament now?

 In all seriousness though, as someone who escapes your blame (I am much younger) I would like to say it is impossible to check the state for extended periods of time...it has and always will grow and grow and grow

The only way to become truly free is to abolish the state completely...I don't like the term anarchy but that is the only answer...coercion through force is immoral and solving social problems with violence/at gunpoint is counterproductive

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#6) On October 15, 2010 at 11:49 AM, FreeMarkets (99.20) wrote:

DOW3000 - I have to disagree in abolishing the state completely.  Gov't should be designed to protect our rights.  Listening to Harry Reid yesterday in the debates telling people it's HIS job to create jobs is sad for two reasons.  One, it is NOT the job of a Senator to create jobs and two, almost 1/2 of Americans think it is his job.

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#7) On October 15, 2010 at 12:04 PM, Dow3000 (< 20) wrote:

I will answer with a simple example:

After defeating the British we set up (successfully), the smallest and most limited national government EVER.  After two centuries this has grown the become the largest, most invasive (to the entire world), most violent federal (weird term to call it) government in the history of the world.  And people have been fighting hard to oppose this the entire way.

I think I rest my case...limited government is not possible (though I wish it was)...ask yourself, even if Ron Paul were to become president do you actually think we would balance a budget or get rid of our thousands of bases in foreign countries or abolish the Patriot Act?  It is possible that he would be able to destroy the Fed...but this would create the biggest economic collapse ever and we would end up in the world government the forces that be want anyway due to massive panic.  The people are not yet knowledgeable enough to stop this...

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#8) On October 15, 2010 at 12:32 PM, davejh23 (< 20) wrote:

"The only reason all these leaders can get away with this is because we'd rather get a government handout than take our bitter medicine."

Agreed.  Congress should have very little authority to do anything, but they believe they're in charge of everything...they've made promises and spent money that they never had the real authority to make or spend.  The authority for most everything should reside with the states...and if this was how it worked, we'd be much better off.

How do you plan to break the cage?  I don't have faith in the American public to change anything for the better with their vote.  As outoffocus said, we'd rather take a handout...with so many currently in dire circumstances, I'd bet that Americans continue to vote for the handout...change for the better may come eventually, but it won't be orderly...

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#9) On October 15, 2010 at 1:28 PM, Imperial1964 (97.92) wrote:

Gonna break my rusty cage and run.
--Soundgarden

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#10) On October 15, 2010 at 2:45 PM, BillyTG (32.21) wrote:

+1 Awesome

Don't go postal on anybody.

 

@davejh23, elections are a charade

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#11) On October 15, 2010 at 3:32 PM, FreeMarkets (99.20) wrote:

Definitely not going postal.  Remember, I'm anti-GOV'T, so why would I do what a postal worker would?  :-)

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#12) On October 15, 2010 at 3:41 PM, goalie37 (96.99) wrote:

When WMDs were not found in Iraq, we didn't think much of it.  Why?  Because we all knew it was a lie to begin with.  I think the same scenario is now playing out with the financial crisis.

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#13) On October 15, 2010 at 6:12 PM, whereaminow (58.64) wrote:

David in Qatar  

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#14) On October 15, 2010 at 9:21 PM, sawchain (< 20) wrote:

Naysayers... stop it.  You're talking yourselves into a bad mood and the only result is going to be a shitty weekend.  Yes, the societal problems we have are attributable to the general public.  However, it could be a whole lot worse.

Each and every one of you (and me) sits around and reads CAPS blogs all day long.  You eat.  You drink.  You're healthy.

Didn't I say in another thread that it's a easier to complain about the t urd in front of your face than to appreciate the one that isn't there?  Yes, I did!

You could be smashing big rocks into little rocks under some fascist dictator instead.  You could have cutaneous leishmaniasis.

Our system isn't fantastic, but it's STILL the best one there is.  EVEN WITH all the damn bubbles.  At least we have a freakin' economy to squabble over.  Tonight, people are starving to death in North Korea.

Get happy! 

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#15) On October 16, 2010 at 1:05 AM, loverandfighter8 (< 20) wrote:

@ FreeMarkets

I was personally not around to prevent the creation of the Federal Reserve or the establishment of Social Security, Medicaid, Medicare or to prevent the passing of the Food Stamp Act of '64 or the Immigration Act of '65, or to stop Nixon from taking us off the gold standard in '71 among many other examples, so no, I am not responsible for our current financial predicament.  This crisis has been building slowly for a century and we just have to deal with it.  Since I foresee a revolution in the near future that eventually eliminates all those progams and laws and returns our country to a firm economic foundation, the real question is, will you give me credit for fixing the economy then like you blame me for the current problems now?

@ Dow3000

Anarchy is not freedom, it does not last and it is merely the name of a transitional phase between governments.  There is a legitimate role for government, but it is tiny compared to the monster we have now in this country.  As much as I dislike our Federal government, I sincerely doubt it is the most violent in the history of the world.  What about the Soviet Union's Gulag under Stalin responsible for millions of deaths?  Or what about Pol Pot's Cambodia and its millions of victims?  Or Mao's estimated more than 50 million victims in Communist China?  As you can see, our government is a joke compared to those, but we should not let it get to that point.

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#16) On October 16, 2010 at 1:12 AM, BillyTG (32.21) wrote:

Why does the caged bird sing?

 

 

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#17) On October 25, 2010 at 2:39 PM, patycool (< 20) wrote:

Obama he promised to straighten Bush's mess out Two Wrongs don't make a right, By the way I found a website that give you prizes for your opinions and 4 play games here is a topic about this: http://opinion.ezwingame.com/topics/who-do-you-blame-for-the-economic-crisis1

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