Housing Doom

The song pretty well sums it up!!

I’ll admit, that Jefferson quote sounds suspect… typically Jefferson spoke about ‘monied incorporations’ … odd Enlightenment era language like that. Pre central banks. Lots of banks were still issuing currency back then. But, I’m too tired tonight to look it up.

I still have to correct people when they quote Adam Smith… people nowadays Smith meant for people to be rich and careless.

Oh well.

See if this seems accurate:

“We’re bloody f*cked” – unnamed 7th Cavalry trooper at the Little Bighorn.

Here’s a better quote….

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
-
by Woodrow Wilson, after signing the Federal Reserve into existence

Agnostic-

You are right, Hoover inherited some horrible problems. I’m assuming our next president, whoever he/she is will end up being one of the most villified presidents of our times for the same reason.

Given the crop of candidates we have though, the animosity will not be entirely unearned.

Igor says “immoral”. I don’t know if I’d go that far, but certainly “inept”.

Agnostic-

I’m sure something like that was shouted out more than once near the end of the Battle of the Little Bighorn. The F word has been in english usage since at least then. I do wonder how many englishmen were in Custer’s command. I thought most were irish. Is bloody a common expression in Gaelic as well? Whatever, you’re point is well made and much more succinct.

toysarefun:

Do yourself a favor and buy SKF, the short-financials ETF.

Cheers.