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 The law was repealed.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
-
-
Our View: Shining light on the Guard
When a few members of local fire and law enforcement agencies got caught looting or doing things that clearly broke department policy following the May 22, 2011, tornado, the public knew about it and knew who they were.
-
Other Views: Internet control
Here’s a bad idea that keeps recurring: Turn control of the Internet over to the United Nations.
-
Your View: ‘Crying shame’
What irony! Joplinites are involved in a massive effort to plant hundreds of tiny trees to re-leaf Joplin, . . .
-
Your view: Words matter
Geoff Caldwell made a good point in a Globe column (May 27) about pack mentality by pointing out how people on the extreme ends of the political spectrum only hear what they want to hear and cannot get beyond their ideological biases.
-
Your View: Irresponsible
The irresponsible side of the Missouri Legislature has showed itself again.
-
Your View: Journalists and their jobs
I was glad to see the tears and quavering voices during the public showing of “Deadline in Disaster” on Thursday.
-
Other Views: We need to learn from floods
Why do tornadoes teach us lessons, but not floods?
-
Our View: Taxpayers deserve better
Legislators who fail to work together to fix problems in their state may not reach a compromise, but they do compromise their state and the taxpayers.
-
Sunday Forum: 2012 graduation speakers key on tornado, mall school and president’s visit
Editor’s note: In addition to speeches by President Barack Obama and Gov. Jay Nixon, Joplin High School’s top students addressed graduates, faculty, parents and other guests packed into the Leggett & Platt Athletic Center on the Missouri Southern State University campus. Following are the text of those speeches.
-
Beth Meeker, guest columnist: Same-sex marriage battle a quest for equal rights
I would like to take a moment to reply to guest columnist Anson Burlingame’s, “The Marriage Debate” (Globe, May 13).
- More Opinion Headlines
-
Syrian Boy Speaks Out, Survives Family Massacre
Judge Tells John Edwards Jury: Keep Deliberating
House Rejects Sex-selection Abortion Ban
Bush, Obama on Stage Together Share Laughs
SpaceX Dragon Returns to Earth
Warming Gas Levels Hit 'Troubling Milestone'
Youngest-ever Speller Disappointed by Mistake
2 American Tourists Kidnapped in Egypt
Chen Guangcheng: 'Historic Transition' in China
New York City Seeks Big Drink Ban
Los Angeles Bans Plastic Grocery Bags
Raw Video: SpaceX Dragon Leaves Space Station
Police: Gunman Kills 5, Self in Seattle
Experts: Americans Must Prepare for Storm Season
Forest Fire Becomes New Mexico's Largest Ever
Montreal Police: Mailed Body Parts From Same Man
Facebook Expands Campus As Stock Shrinks
