A photo I took in DC showing the cornucopia of the Federal Reserve
Our elites have done various things over the years that created the present economic mess. They did all these things in order to make themselves richer and more powerful but this process has destroyed the US economic base and many of our manufacturing cities lie in smoldering ruins today thanks to stupid policies. It all began with the Vietnam War and politicians hiding the real cost of that war via printing money. To do this, Nixon and Burns cut the gold standard. To fix the following hyperinflation, free trade was instituted whereby the US now imports more and more manufactured goods, this in turn, killed our cities and laid waste to the working class that once manufactured goods.
Fed Reveals New Concerns About Long-Term U.S. Slowdown – Bloomberg news: this story shows how deliberate stupidity runs things in the US. We just witnessed a witless howl fest over the Chinese comment about ‘American Exceptionalism’ noting that the US is in decline. The US decline is obvious and easily seen. The Federal Reserve has many graphs detailing our collapse and yet the heads of this operation can’t understand why things are going bad even as programs they promote or admire are the direct causes of this collapse!
Obama’s first choice for Fed chief has resigned due to not wanting to answer questions in Congress. So this leaves spendthrift Yellen as the future boss. She will keep the ZIRP/buy Fed debt game going and it destroys capital but so what? Japan has done this for more than twenty years! Also, the head of the NSA computer systems spent a fortune having a movie set designer build a Star Trek office for him at tremendous US taxpayer’s expense.