Always blaming the people

The Founding Fathers believed a central bank was needed as a means of paying debts and to provide lending for economic growth. Machiavelli said man cannot resist that to which nature inclines. And yet, we commoners; the ’unclean masses’ are supposed to curtail our instincts and cut back on the necessities of life, while the fraudulent bankers who caused this rape of the economy are blameless. After all they’re in the business of making a profit, so who could blame them? Edmund Burke said “I do not know the method of drawing up an indictment against a whole people”.

Now the indictment is against whole peoples of the world because they retire too early, they charged too much on their credit cards or they bought houses they couldn’t afford. There’s too much debt and only austerity cuts can rescue the world.

But why is there an explosion of world wide debt? William Greider writes in the Nation magazine: “The austerity class ignored the massive housing and credit bubble, which more than any single factor contributed to the explosion of debt worldwide.”

Bank mathematicians and engineers and lawyers were the ones getting “creative” with the housing debt and turning home loans into mind boggling equations, which is what got us into this mess. But the solutions are easy, just blame the masses, cut workers and their pensions, while we bail out the crooks, cut their taxes, and guarantee them their fraudulent profit with our tax dollars. That’ll solve the debt crisis.