Wednesday, March 04, 2009
Heir or Parent?
President Barack Obama's Treasury secretary says the administration has inherited "the worst fiscal situation in American history."
Inherited? I'd say Obama & Co. were instrumental in bringing about the current mess.
The root of the economic disaster is the inflationary regime of fiat money brought about by the creation of the Federal Reserve and FDR's creation (by confiscating all of the monetary gold in private hands and nullifying all contracts, public and private, for payment in gold) of a federal monopoly over money. Geithner was head of the New York Federal Reserve for fifteen years, which means he has been wrong about everything for at least that long.
The Democrats, Obama included, did nothing to reign in Bush's mad imperial ambitions. Sure, they made the obligatory opposition noises but, in action, they gave Bush everything he wanted. Now, in the aftermath of this crime against humanity, the Democrats, including Obama and his oh-so-ethical Attorney General, say that no one will be brought to justice.
Ah, but what about the greedy banks that knowingly made loans to uncreditworthy people? Excuse me, but didn't Obama and ACORN, among others, use the Community Reinvestment Act to browbeat "racist" banks into making the very loans the "community organizers" are now denouncing the "greedy" banks for having made?
Obama didn't inherit this mess; it's his bastard child.