George and the compassionate aristocrats borrowed every dollar they could get their hands on for trickle-down economics, international socialism for starving great Satan haters and ultra-expensive weapons the military didn’t want, but the military industrial complex wanted to sell.
There wasn’t any money for Obama to borrow. The Ben Bernanke bank printed it, the U.S. Treasury borrowed it. Paying it back gets tricky. Ben’s bank doesn’t have a vault. However, these are electronic greenies that only exist in theory. Ben can burn them by pressing a button on a computer. Not burning excess greenies creates inflation.
Compassionate aristocrats say it increases debt for your grandchildren. They aren’t economists; you pay inflation yourself.
In 1911, bankers gambled with Wall Street professionals and lost. The government made the practice illegal.
Alan Greenspan persuaded Bush and the compassionate aristocrats that bankers were smarter now. The law was repealed. The bankers bet housing prices could only go up. The professionals bet they could and would go down. The gamblers wiped the bankers out and took AIG down with them.
If the government hadn’t bailed out the 19 big banks that make up 80 percent of the industry, big business would have closed, smaller businesses that supplied them would have closed, small banks that loaned them money would have failed. This isn’t a great depression, it’s an economic collapse. When the Confederacy collapsed, the North’s booming economy took over. Back then, compassionate aristocrats behaved more like the plutocrats that owned them. When they migrated south, they were called “carpetbaggers.” They paid all the plantation owners’ back property taxes and the planter no longer owned the land; they did.
Steve Goebel
Joplin
Opinion
Voices: And so it goes
- Opinion
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Our View: Santorum's Achilles' ear
Rick Santorum knocked everyone for a loop this week, not just with his victory in Missouri but with the landslide size of the thing.
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Our View: Are school loans next 'debt bomb'?
The late American middle class struggled for decades to keep pace with an American dream slipping from its grasp.
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Our View: A better way of limit terms
A Missouri House committee on Tuesday endorsed a proposed constitutional amendment that would allow lawmakers to serve 16 years in the state Legislature, either the House or the Senate.
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Your View: Is it our fault?
When did coveting things and money take over character? What happened?
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Your View: No way to run a school
All throughout the state of Missouri, you’ll hear much discussion about teacher tenure and the indefinite contracts that go along with that. Most — if not nearly all — jobs in the private and public sectors have no such career protection.
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Your View: Prime suspects
If it’s too cool in the house, you can turn up the heat if you think you can afford it.
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Our View: Worldwide concern
There is growing concern worldwide that Israel might launch an attack on Iranian nuclear plants.
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Other Views: FAA deal up in air five years
The Federal Aviation Administration bill was delayed 23 times, but the agency finally has a law giving it $63 billion and full operating authority for the next four years.
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Don Ray, columnist: Obama's pipeline excuse an election-year cop-out
On Jan. 18, President Barack Obama announced he was rejecting the Keystone XL pipeline project — a project that had its beginnings some 40 months ago (September 2008).
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James Whitford, guest columnist: Broken people or broken system?
Are the people broken or is the system broken? If you walk into Watered Gardens, our rescue mission, it may seem the people are broken. But it’s a rescue mission. It just feels that way. And sometimes, it just looks that way.
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