How Do We Avoid Another Recession In The Future?
Saturday, February 6, 2010, 12:29 AM | Leave Comment
New York Times online has an article written by William D. Cohen on Thursday, February 4. The title of the article is “Mystery Men of the Financial Crisis.” The crust of the article is that we still don’t know what led the economy to the disaster that we encountered and so wholeheartedly accepted.
The economists believe they know what happened to home and business foreclosures and what caused it. But they look at the symptoms and not the root cause of the recession.
Greed is something I believe can create and lead to irrational behavior. That was one reason the experts told us. But on such a large scale that they play with the U.S. economy, I can only say they are the scums and the schmucks of the modern economy.
People who were in a position to know have not come forward to let the American people know what the real reason was. Was it a conspiracy on such a grand scale that it engulfed the economies of the whole world?
There are folks among us who still can remember and went through the holocaust created and followed through by a bunch of scums, schmucks and the no good sons of bitches the likes of which the world had never seen before. The political and military power was concentrated in the hands of those few and the resulting economic power as well.
Are we to believe that the financial power was and still is concentrated in the hands of a very few and that the U.S. Congress and other entities in power cannot do anything about it? How many times more do we have to go through and stay in the recession before we can know the real reasons and stop them at the core?
In a Nutshell
Until Congress knows and be “transparently” open about it with the American people, some economists suggest we can embrace another and many more recessions in the future. My predictions is we will never know the actual reason.
Even if somehow Congress ever knows, I don’t believe the American people will ever know what actually happened to their family finances, even though the American people are the ones who send their representatives to Congress. Oops! I meant to say the lobbyists, not the innocent American people [with their God-given “Hear No Evil, See No Evil, Speak No Evil , no nothing!” characteristics they are so worried about losing!]
What do you think?
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