The U.S. financial system has been a bubble for decades. The panic now being experienced has been generated by the government and by the monopoly media.
A case can be made, now that an overdue washout has begun, for letting it happen so that it's effective and brief. See a book by Murray Rothbard, America's Great Depression. At some point I'll put up a companion to a previous post, "The Conservative Fallacy." The new post will be titled "The Leftist Fallacy"-- which is related in more ways than one would think.
WHERE IS IT?
We should beware of all media-generated crises. Right now, as bitter winter already sets in to pre-Halloween Detroit, I'm wondering: What happened to Global Warming? Has anyone seen it?
The American people are being scam-whipsawed these past ten years by both the Right and the Left through repeated crises. If, as a noted liberal has implied, the Constitution has placed would-be totalitarians inside a box, we're seeing repeated efforts to break out of that box.