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Spengler on "everybody knows"
America is the land of opportunity, and never before the great housing bubble has a Ponzi scheme drawn such a wide base of support and benefited so many people. This was the most democratic scam in history, and if you got in on the first half of it, youre still better off. The big losers were not homeowners, but the bankers. A quick look at the numbers shows how misinformed are the protesters running around Wall Street. Instead of picketing the bankers, they should pair off and picket each other. I ran through the numbers recently in an Asia Times Online essay. Heres the story of the Peoples Ponzi scheme in a nutshell:Posted by: g(r)omgoru 2011-10-10 |
| http://www.rantburg.com/poparticle.php?ID=331360 |