America At War With Itself

As Ron Paul has stated, one cannot blame capitalism for the current failure, since we have had almost none!  Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.  The U.S. has moved away from capitalism and towards crony-capitalism.

What’s crony capitalism?  It is systems that protect and enrich elites, insiders and vested interests who the state shields from competition and the law.

The 2007-2008 sub-prime housing market collapse is an example of crony capitalism.

What happened to those who owned the physical mortgage and lost their home?  They lost their net worth.

What happened to those who owned the derivatives of the physical mortgages (e.g., CDOs, MBSs)?  They got made 100% whole and profited because the Fed bought all those mortgage securities and transferred them to the Fed’s balance sheet.   This government bail out of the bankers had huge negative implications for our economic future.

The US population remains largely asleep and in the dark about the ongoing US and global financial crime scenes.

The first 12 minutes of this video gives an interesting snapshot of where we’re headed…

Why’s this important?  Being awake –about the economic decline, financial markets and health care system—helps you and me be better prepared and make more informed decisions.  It’s time to think outside-the-box and take charge of our lives.