Lisa Simpson
Jan 6,2010
In: Finance, Foreclosure

All Gain Hrom a Boom – so Too all Endure Pain From a Bust

In 2009 the number of newly unemployed was about 400,000 per months while there were on an average 300,000 foreclosures. The figures are real and not from fudged official sources. The government does not count people as unemployed when their unemployment benefits run out of time.

Another instance of official fudging is about foreclosure numbers. If one month of 300,000 foreclosures is followed by another of 299,000 then the official version would be that the rate is falling. They state glibly that the total numbers of sales are double that of the expected without knowing or stating what the expected was.

The public is being fed with talks about the recession being over and green shoots sprouting while the economy is poised to jump-start. The truth is that the country is in a depression that had crossed the recession level quite some time ago. If there were really green shoots sprouting these are only weeds. If there is a genuine wish to kick off the economy then why is money being poured in drunken wars causing debt increases?
Many years prior to becoming the Chairman of the Federal Reserve, Alan Greenspan had written in 1966, “ Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth.”
In 2005 Ron Paul a Congressman had written in an article titles ‘The Maestro Changes his Tune’ the following –"Nearly 40 years ago, Federal Reserve chair Alan Greenspan wrote persuasively in favor of a gold monetary standard. Deficit spending is simply a scheme for the hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.

"Today, however, Mr. Greenspan has become one of those central planners he once denounced, and his views on fiat currency have changed accordingly. As the ultimate insider, he cannot or will not challenge the status quo, no matter what the consequences to the American economy.”

In other words, he utterly repudiated the arguments he made 40 years ago. Yet this begs the question: If he was so wrong in the past, why should we listen to him now?”

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