We Didn’t Learn a Damned Thing from the Crash of 2008
johngaltfla.com / by John Galt / July 4, 2017
The screen shot pictured above is from the end of the hit movie, “The Big Short.”
It could just as easily said:
“In the end, we all get fucked by the man.”
America has taken a dramatic shift away from the crash of 2008. Everyone thought that once the banks were bailed out, General Motors and Chrysler nationalized (in an un-Constitutional manner), and the so-called mortgage bail out for homeowners where “qualified” homeowners in select markets were able to re-finance their 15 and 30 year mortgages into 40 and 45 year mortgages (or longer) that everything was fine and ‘Amuuuurica’ was on the road to recovery forever.
So let us just start the chant now, “U.S.A., U.S.A…..” blah, blah, blah…
CDO’s, CMBS, CLO’s, MBS, etc. did not go away; they were just re-branded, repackaged and the worst of the crap forced upon the taxpayer to purchase not via the TARP program (a joke) but due to the Federal Reserve destroying America’s savers via monetary inflation while adding $4 trillion to its balance sheet to de-leverage some of the banks exposure and force the U.S. Treasury to take the risk should the underlying securities begin to deteriorate further into delinquency. The idea of accelerating the inflationary curve to prevent a massive hyper-deflation in 2009 seemed to be the only out at that time and then Chairman of the Federal Reserve, Ben Bernanke, saw no alternatives thus putting the yoke of the reflation on the back of savers while strategically devaluing the currency at the same time.
The post We Didn’t Learn a Damned Thing from the Crash of 2008 appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/07/04/we-didnt-learn-a-damned-thing-from-the-crash-of-2008/
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