was asked a few days ago by Z?calo Public Square, a not-for-profit daily Ideas Exchange, to contribute a brief comment to coincide with their upcoming event "Can We Fix What's Wrong With Banking?"
I was specifically asked to address the question "should we have bailed out the banks?" Here is my response:
No, we should not have bailed them out. That?s the easy question.
Now that we have bailed them out, however, here?s the important question: "Will we fix what?s wrong with banking before there is a global currency crisis?"
??On that score I have my doubts. ??The simple fact of the matter is we have a massive mountain of debt everywhere you look: Federal debt, State and local debt, student loans, housing, unfunded liabilities in Medicare and Social Security, and untenable pension promises at every level of government.
Most agree that is a problem. Unfortunately, that?s where the agreement stops.?? Yet, before we can address the debt crisis, we have to understand how it happened. ??
The source of the debt crisis is two-fold:
?
- Fractional Reserve Lending
- Fed (central banks in general)
Source: http://townhall.com/columnists/mikeshedlock/2013/03/17/can-we-fix-whats-wrong-with-banking-n1536518
sugarland 16 and pregnant ludwig mies van der rohe jamie lynn sigler mega millions jackpot black panther party frank martin
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.