The real subversion of economics is at a higher level. This guy is just exposing (in this article and in his film) the patsy and placing all the blame on the patsy.
It is the federal reserve and the government that engineered this financial crisis. It was obvious there would be a housing bubble in (at least to me) 2001, before the bubble really started, when they forced interest rates below the rate of inflation- meaning lending was incentivized because the cost of money was below zero.
I knew about it early enough to profit from it on both sides, on the way up and on the way down.
But the heist of american money was a two-part job. The banks set it up in partnership with government which created freddie mac and fannie mae-- and then the governmetn actually stole the money with the bailouts.
If the government hadn't bailed out these banks they would have fallen and more worthy banks would have grown to take their place.
Instead we have institutionalized corruption. The concept of "to big to fail" is considered legitimate, and moral hazard is now standard operating procedure.
So long as everyone pretends like the bailouts where a natural consequence and not the largest theft in american history.... we're set up nicely for them to do it again. And again. And again.
I suggest people who are genuinely interested in these things should read The Creature from Jekyll Island by Griffen. It covers the history of the federal reserve, and how they play the bailout game every other decade. Each time the amount is larger and the audacity and greed on the part of government and bankers is larger... and then when we've forgotten about it, they do it again.
You might be wondering how government profits form this. The individuals in government profit financially, though of course the money is laundered as cushy jobs, book deals and campaign contributions... but they also profit by gaining more power over the economy.
It is the federal reserve and the government that engineered this financial crisis. It was obvious there would be a housing bubble in (at least to me) 2001, before the bubble really started, when they forced interest rates below the rate of inflation- meaning lending was incentivized because the cost of money was below zero.
I knew about it early enough to profit from it on both sides, on the way up and on the way down.
But the heist of american money was a two-part job. The banks set it up in partnership with government which created freddie mac and fannie mae-- and then the governmetn actually stole the money with the bailouts.
If the government hadn't bailed out these banks they would have fallen and more worthy banks would have grown to take their place.
Instead we have institutionalized corruption. The concept of "to big to fail" is considered legitimate, and moral hazard is now standard operating procedure.
So long as everyone pretends like the bailouts where a natural consequence and not the largest theft in american history.... we're set up nicely for them to do it again. And again. And again.
I suggest people who are genuinely interested in these things should read The Creature from Jekyll Island by Griffen. It covers the history of the federal reserve, and how they play the bailout game every other decade. Each time the amount is larger and the audacity and greed on the part of government and bankers is larger... and then when we've forgotten about it, they do it again.
You might be wondering how government profits form this. The individuals in government profit financially, though of course the money is laundered as cushy jobs, book deals and campaign contributions... but they also profit by gaining more power over the economy.