What did the laissez faire capitalists (libertarians and followers of Ayn Rand like Alan Greenspan, Ronald Reagan, Margaret Thatcher, etc.) bring to the U.S. economy?
- USAID officials have pointed out a 41 percent increase in prices for wheat, corn, rice and other cereals over the past six months. These end up being reflected in retail prices in the grocery stores.
- Food and fuel prices are climbing very quickly while housing values are going into the basket.
- The Federal Reserve says American-home equity is below 50 percent for the first time since 1945.
- Unemployment is jumping.
- Merrill Lynch reports that 36 percent of American-household disposable income is spent on food, energy, and medical expenses. That's the highest percent since records started being kept in 1960.
- 4 million homes may be foreclosed.
- Record numbers of Americans reduced to food stamps.
Alan Greenspan said this recession is "likely to be judged in retrospect as the most wrenching since the end of the Second World War." Well, it will be worst than that.
This is all due to the Ponzi scheme Greenspan knew all about before it was hatched. It was all just a way to make the richest of the rich even richer while acting as a boot on the back of the necks of the poor. Keep them down so they'll remain subservient to our egos. That's what the ultra-rich plutocrats are about.
The insiders are bandits. Greenspan was hired by a firm that made a huge fortune by knowing that the economy would tank. Greenspan claims he didn't know the economy would tank. Why then did that company hire him since they are so much smarter than he is? It's obvious isn't it? It's what the revolving door is all about.
Look at Dick Cheney setting up Halliburton with contracts while he was Secretary of Defense and then becoming their CEO afterwards. Look what happened to his personal earnings.