Upside Down Mortgage

Housing Bubble In China

Question: How can it be so many things are going wrong with the american economy?

clearly there is more at stake here than just economic cycles. So I am interested in hearing some of you point the finger as to who is to blame for what is going on. I will now list some of things in question: record budget deficits, record trade deficits, jobs being outsourced to china and india etc..., record consistently high gas prices, declining real wages of americans, the declining middle class, unaffordably expensive health care, rising inflation, the housing bubble bursting, record foreclosures, etc.....well you get the idea.

So again, my question is...how did we get here and who did it? (again, we know this is not just the cycle of the economy)

Answer: Wise men long ago figured out that capitalism, with no anti-,monopoly and anti-trust oversight and with no monitoring and correcting of trade deficits, works about as well as football with no rules would.
Ronald Reagan and the Bush cabal somehow managed to convince large numbers of people that being smart was bad. The resulting economic deregulation that they imposed in the absence of thoughtful oversight by the population and Congress has led to disaster, just as it did in the 80's and in the 20's Tax breaks have been given to multinational corporations, who do not, as theorized, reinvest in the economy. The money flows right out of the country, along with the oil money and the fortune that we've squandered in Iraq, almost none of it being used domestically to support the war , as has been the case in past wartimes, with manufacturing and other jobs. A lack of intelligent planning and oversight has led to Toll brothers and other mass producers of housing to flood the market, effectively killing the market for existing home sales, houses being the major equity holding of most American households.
And we still allow those same corporations to decide who our leaders will be, through campaign financing and through their control of major media, with the result being just what you might imagine; that the elected politicians are more beholden to them than to us.
Your country has been sold.

Gold, The Fed, China & My 1st Live Broadcast!- Part 3

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