November 23, 2009
Hudson slides through a multitude of issues to drag us back to the big picture that is constantly ignored.
Professor Michael Hudson on the GFC
Trickle-up Economics By Paul Craig Roberts
Eliot Spitzer: Geithner, Bernanke “Complicit” in Financial Crisis and Should Go
A Smart and Simple Tax by William John Cox
Please Share With Your Friends
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Yep, debt, debt, debt ….
Most of this debt should be rationalized by nationalizing the banks and sorting out their books , but won’t be. The elites are sacrificing the entire economy to save their own bacon. You see those debts are their assets and what won’t be covered by tax payer bailouts will be bailed out by banks choosing not to lend but to hoard capital to cover these losses that will be bailed out by US bonds bought with free money supplied by the privately owned and operated Federal Reserve System.
One major financial wave could wipe out this whole Ponzi Scheme leaving tax payers with trillions more in losses …