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Peak Oil and Peak Credit



December 25, 2009 – Comments (2)

Max Keiser interviews Gail Tverberg of . This is two interviews in a row by Max with people who are believers in Peak Credit. (Ref my previous Dec 09 post with Professor Steve Keen.

Tice "Hold gold & silver coins for protection", Steve Keen about wages, deflation and zombie capitalism. December 23, 2009)

Of Two Minds has an outstanding post here:

"Monetary Policy" Transfers Your Children's Future Earnings to the Financial Elite   (December 23, 2009)

The bail-out of Wall Street and the banking and mortgage industries is not monetary policy; it is a massive transfer of wealth from future taxpayers to the Financial Power Elite.

The monetary-policy terminology of "quantitative easing" and "bail-out" is a masterstroke of propaganda, for it purposefully masks an unprecedented transfer of wealth from future taxpayers to the Financial Power Elite.

I want to be crystal-clear here: what Bernanke & Co. represent as "monetary policy" is in fact a massive transfer of wealth from future generations of U.S. taxpayers to Wall Street and the banking/mortgage industries.

The propaganda is purposefully designed to distract our attention from the fact that "monetary policy" has fiscal consequences for future taxpayers--unprecedented mountains of Federal debt which must be serviced over a generation in which interest rates will rise.




2 Comments – Post Your Own

#1) On December 25, 2009 at 6:25 PM, abitare (29.81) wrote:

Sad In Chattanooga: Tennessee Boy, 4, Found Near Home With Stolen Presents, Drinking Beer.

Tennessee investigators say a 4-year-old boy was found roaming his neighborhood in the night, drinking beer and wearing a little girl's dress taken from under a neighbor's Christmas tree.

The child's mother, 21-year-old April Wright, tells WTVC-TV the boy "wants to go to jail because that's where his daddy is." Wright says she and the boy's father are going though a divorce.

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#2) On December 26, 2009 at 7:37 AM, paperpump wrote:

this lady is a moron and has no understanding of economics.

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