to bad it takes so long

[kathyp]

for history to catch up with reality.  guess you have to wait for those who lived it, and had a vested interest in it's telling, to die.

http://www.telegraph.co.uk/finance/economics/6147211/Barack-Obama-accused-of-making-Depression-mistakes.html

i remember going to school and learning about the great FDR and how he saved us all. 

[BoBn]

You never know. . .
It reminds me of this quote:

History will be kind to me for I intend to write it.
    --Sir Winston Churchill

[kathyp]

but ask mick how they like WC down under   

[reinbeau]

Did you check out the comments?  Particularly the 16 points someone posted - they're great!  I'm copying them below (My favorites are #5 and & 7):

1. Read the US Constitution especially as it applies to money.

2. Dumass knows no party boundaries.

3. Politicians worship at the altar of John Maynard Keynes.

4. Politicians haven't read any of Keynes' theory. The theory required pay-back of the deficit. That never happened.

5. The US public is inherrently ignorant of where the money comes from or where it goes. Worse still, they are unwilling to learn.

6. Economists are historians. NOT capable of predicting anything.

7. Voters vote for thier pocketbook.

8. The system got this way because the public wanted #7 above.

9. Making money off of dumass is NOT a crime.

10. Sooner rather than later, you are gonna pay for your play.

11. Credit was easy because the public demanded it.

12. Revisionist history is just as wrong as the history written by the winners.

13. It was the early 50's when the depression ended and only because of the rise of consumerism. Blaming China, India, Japan,... ad nauseum is false. We, collectively, just had to have the latest gizmos, foofraw, designer whatever and houses we couldn't afford. See #11 above.

14. Atlas will shrug. The only option that will work is to allow a hard reboot of the economy. This means everyone loses what they don't own outright. Pity the specialist who has only one skill that no longer is in demand.

15. Whiners, blamers and fanatics, just shut up. Go back to listening to your talking head idols. They were hired for thier big mouths and not thier wisdom.

16. Life will go on, just not as we know it.

[kathyp]

i'll take 14 and 16.  i don't think we have the nuts to come out of the re-boot as they did after the great depression.

[bee-nuts]

All you have to do is abolish the federal reserve.  Printing lots of cash is one thing but having to pay someone back for something that never existed before is absolutely nuts.  The federal government does not have to go through the Federal reserve to print money.  They just do because they are idiots.  Abraham Lincoln was in a very difficult spot when the civil war broke out.  He needed lots of money to fund the war.  Bankers love war because they can make more money in one day of war than one year of prosperity.  Abe went to Europe for loans.  They wanted huge rates of interest.  He would not except these outrageous rates.  What he did is what we should be doing now and always.  He printed US Treasury Notes.  These were in circulation until the 90's when Clinton let the Federal Reserve pull the last ones out of circulation.  Before the Federal Reserve Act was passed there was not and income tax.  The only reason we need one now is to pay the interest to the federal reserve.  It is the biggest scam ever.  It is imposable to pay the debt of ever.  Here is why.

you start the Federal Reserve.  The federal reserve borrows you a billion dollars with interest.  If you paid them back the billion you still owe them the interest.  Where are you going to get the interest payment.  You have to borrow it.  The beast just gets bigger and bigger.  If any of you want to really know what is going on I suggest you watch this video series.

Money Masters

http://www.youtube.com/watch?v=lXb-LrVkuwM

I had the pleasure of watching some of these in my economics class.  I watched all of them on my own time.  This is the truth not fiction.