Down The Road To Serfdom

Down The Road To Serfdom

www.antiwar.com

So here we are: a phony monetary system, $3 trillion wasted on wars, and a citizenry mired in debt. And what does Congress do? It adds more debt – a trillion dollars, just for starters, since once starting down this slippery slope, it won't be able to stop. It then gives the Treasury the green light to buy securities that are trading as low as 20 cents on the dollar at the hold-to-maturity value, i.e., par! Not surprisingly it has engaged in a media blitz to "sell" this boondoggle, convincing the taxpayer that this bucket of dross will one day turn to platinum. Sensing that working stiffs are a little perturbed about the fleecing, it has leapt to the offense: "No, this is not a bailout of Wall Street. This is a rescue plan for Main Street." By embracing the mortgage waste dump, U.S. citizens are supposedly saving jobs and retirement dreams. They are told that interest-free car loans will stream from dealerships and refi windows will again beckon, even to those with homes worth half the value of mortgage paper. With Congress granting the Treasury (along with an "oversight" board) almost unlimited power over the country's financial landscape, the U.S. has terminated its democracy and is well on the Road to Serfdom.

(visit the link for the full news article)



[edit on 6-10-2008 by DimensionalDetective]

Indeed, and as we can see today, this robbery of the little people, used for nothing more than to prop up titanic fraud and bad debt issued by the very crooks RESPONSIBLE for this mess, has done NOTHING to change this race to the bottom.

The policy of "reverse-robinhoodism" has bankrupted this nation completely, and now these failed policies are blowing up in EVERYONE's faces, even these elitist criminals...

You can only take so much, before you've gutted the entire means of keeping things running...

The next few years are going to be "interesting" to say the very least...

Great Depression, part II.

www.antiwar.com
(visit the link for the full news article)

Quite fitting for a "conspiracy site".

Yes, it has been speculated that the Bush administration did what it did to purposely drive the nation into debt and thus dismantle New Deal and what not... And I suspect that's that.

Yeah but you gotto laugh, sorry about that but with all this doom and gloom with the war on terror and the state of the financial situation what else can you do?

The famous conservative and Nobel Prize winning economist, Friedrich Hayek, wrote The Road to Serfdom in 1944.
I havent read it yet but it's on my bookshelf.

Hayek wikipedia page


Friedrich is a funny name.

reply to post by stikkinikki


Well sure, that's where the title of the thread is coming from.

I say, the book might seem more than a little bogus in light of recent events