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George Bush pulled away the pillars of financial oversight and watched the whole house come tumbling down.
(7) Bush and his corporate crook buddies passed a bankruptcy bill in 2005 that forced impoverished workers into debt slavery. No longer would it be possible to start afresh like corporations; personal debts would be a lifetime millstone forever growing due to usurious interest rates and corporate greed.
(8) Bush bankrupted the nation with deficits and war spending.
(9) From Mar 2006 the US Fed ceased publishing the M3 money supply, a measure of inflation. Bush did this to disguise the fact that M3 money growth was booming. From 2006 onwards the M3 grew by something in the range of 35 percent. The stock markets and the public had no way of knowing that the US dollar was being debased by over supply.
"With the discontinuance of M3 and the apparent flooding of US dollars into the economy by creating money "Out of Thin Air", the U.S. currency has been devalued to the point where "central banks and finance ministries (of other countries) are setting up obstacles to keep the falling dollar from threatening company profits and economic growth."
The entire growth of the economy under Bushenomics is accounted for by growth in the money supply.
(10) And then there's the gift that keeps on giving: the bailout. The US banks and brokerage firms built a house of cards leveraged at 70:1 against their assets. Then came the sub prime collapse and investors wanted their money. So Bernanke's buddies blackmailed Congress: "Give us $700 Billion... no, make that $2 trillion...ok, $8 trillion... or we' ll stop lending on payrolls and student loans and you'll have militia in the streets." Ok, said Congress, and gave them the money -- and they still didn't lend, because they had never intended to. The bailout had been planned for months, they just forgot to tell Congress. Leading finance houses have now been underwritten by Uncle Sam and the taxpayer. Your grandchildren will be paying for these crooks.
It was always intended this way. Bush was a failed businessman who took the profits and left the wreckage for "the little people". What did we expect? Bush has concealed all, debased everything and punished everyone except his ultra rich corporate buddies. He's a front man for criminals.
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