Sunday, August 16, 2009

Republicrats Dither as Financial System Burns

The banking system is teetering as todays article on Seeking Alpha documents.
Yet the Administration and Congress are focused on forced vaccinations of the population to combat a flu outbreak that has allegedly caused only 300 deaths in a world wide populaton of 7 billion. But every weekend auto wrecks kill 300 people in just the U. S.
And a major overhaul of the health care system is on the front burner. But health care has been tied to people with jobs - and jobs are disappearing and the income to pay for health care.
The Republicrats are turning to secondary issues right now because they have been told the recession is almost over and Benranke (sic) should be reappointed.
If any Republcirats wake up and say the financial system is flawed they risk at worse death or at the least character assassination..
The current banking system falls apart every 80 years and causes major disruptions and dislocations and pain every 10 or so years in between massive failures. It has to be replaced with something else.
It may mean a return to the Renaissance days when usury was forbidden and people simply bought and sold on contracts without interest. If a buyer defaulted the percentage of the contract that had been paid off became his or her ownership percentage in the item then resold to someone else. No more total wipe outs.
This would be a horrible system though. Crafty, amoral people would not be able to game this kind of system with funny money created out of thin air. They would have to work for their living. Or become outright obvious bandits.
Kings would be wise to learn from the past and not to borrow their kingships into insolvency by asking the banksters to finance wars in foreign lands for egocentric needs.