U.S. Economy: Predicting Protracted Hard Times
By Stephen Lendman
November 01, 2012
It works the same way every time. Bad policies assure bad results. Prioritizing short-term profits jeopardizes long-term gains.
Force-fed austerity when stimulus is needed is madness. So is harming economies, communities, and ordinary people to save banks.
Chickens eventually come home to roost. We’ll know when they arrive. Perhaps it’ll be sooner than imagined.
Money power in private hands assures it. The Fed and other major central banks bear full responsibility for monetary madness.
The late Bob Chapman warned about easy money, market manipulation, reckless speculation, counterproductive fixes, and unsustainable debt causing today’s crisis.
He predicted an eventual house of cards collapse. Only its timing remained uncertain. He’s not around to see what won’t be pleasant when it arrives.
It’s too early to know for sure, but monetizing debt/excess money printing may have hit a wall. One economist suggests Bernanke can’t do much more in the mortgage market.
CONTINUE: [link to www.globalresearch.ca]