The Great Depression: The Herbert Hoover Presidential Library and Museum

The Herbert Hoover Presidential Library and Museum

This is, of course, an indictment of failure to stop the bust in a boom and bust cycle. Look at it this way, a boom and bust is actually a way for wealthy folks to make money on the way up and on the way down. That is what they want, boom and bust. Andrew Mellon, in wanting boom and bust, wanted speculation, austerity, and supply side percolation economics. He relished panic as a way for folks to make money at the top and for the riff raff to suffer and be moral.

But really, with Mellon, it was greed, the keeping of money he had made. That is the banker mentality, unless they can foment a scam like the housing bubble where they pawn off mortgages, get bailed out, get their properties back, and start the process again.

Beware of the bankster and the bankster propaganda that ultimately will target the helpless home buyer. Boycott mortgages if you need to save your money. Otherwise, you put the money at risk. 


Popular posts from this blog

Learn Economics

The Unholy Alliance of Big Banking, Neocons, Big Media and Israel

John Mauldin Discusses What Could Go Wrong