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"While the Fed fiddles, Congress burns. (Fiscal collapse) will play out incrementally, like a Greek/Cypriot tragedy, in carefully choreographed crises over debt ceilings, continuing resolutions and temporary budgetary patches."
It's not a pretty picture. Things head from bad to worse. "The future is bleak." America reached its monetary and fiscal limits. Day of reckoning time approaches.
It's arrive with tsunami force. It's a far cry from Bernanke's predicted prosperity. He falsely claimed the Fed tamed the business cycle. He did so before the subprime meltdown.
Instead of what he called the "great moderation," the great "deformation" approaches. Rogue central bank policy and casino capitalism assure it.
They "brought America to an end-stage metastasis." Responsible solutions aren't forthcoming. Things head from bad to worse. America is fiscally, morally, intellectually, and politically broken.
Euroland's no better. "When the latest bubble pops," watch out. They'll be "nothing to stop the collapse."
Money power in private hands assures trouble. Ellen Brown explained more. Up to 40% of "everything we buy goes (for) interest."
It goes to "bankers, financiers and bondholders." A third or more of national wealth shifts from Main Street to Wall Street. Complicit politicians let it happen. They do so for generous benefits they derive. Greed is the national pastime. So is looting America for profit.
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