David Stockman: We’ve Been Lied To, Robbed, And Misled

Via: PeakProsperity

And we’re still at risk of it happening all over again

by Adam Taggart
Saturday, March 30, 2013, 12:42 PM

Then, when the Fed’s fire hoses started spraying an elephant soup of liquidity injections in every direction and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Street and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.
-David Stockman, The Great Deformation

David Stockman, former director of the OMB under President Reagan, former US Representative, and veteran financier is an insider’s insider. Few people understand the ways in which both Washington DC and Wall Street work and intersect better than he does.

In his upcoming book, The Great Deformation: The Corruption of Capitalism in America, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued — in full — at all costs.

Read more: here

Some truth spoken….good read…
-Moose

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Waking From My Moral Coma

Via: truthout

Wednesday, 13 March 2013 
By William Rivers Pitt


I’ve been having trouble with mirrors lately. When I look these days, I see a bastard staring back, a stranger, a guy who should be ashamed of himself.

He is.

A long, long time ago, I wrote this: “America is an idea, a dream. You can take away our cities, our roads, our crops, our armies, you can take all of that away, and the idea that is America will still be there, as pure and great as anything conceived by the human mind.”

I still believe that, and therein lies the problem. I am a sucker for that dream, that idea, and for the last few years I allowed it to seduce me.

Read more: here

Well said! 
-Moose