The systemic faults created by the gross incompetence and corruption of governments (1) have been exploited by the bankers to raid the bank. When reality check came and real estate values crashed, governments bailed out the malefactors and fanned the flames of fear to implement “solutions.” Such solutions took two forms: “bailout,” i.e. the transfer of toxic debt from the banks’ balance sheets to the governments’ balance sheets, or “stimulus,” i.e. throwing easy money at the hoi polloi and further inflating the governments’ balance sheets.From Meccania to Atlantis - Part 13 (4): Harpo, Gekko, Barko, Sarko
From collapsible matryoshkas to inflatable Mickeys
The globe is spinning. Its leading team of bumbling spinmeisters, statist incompetents, unalloyed greedsters, malicious socialists and phony conservatives is running this tired Western jalopy toward The Rock of Immovable Reality. Harpo, Gekko, Barko and Sarko are together in the catbird seat, still throwing off comforting gibberish but testing the buckles on their ejection seats.
Thursday, 18 March 2010
From the desk of Takuan Seiyo on Wed, 2010-03-10 19:39
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