All of this requires political system rabbit cotton ball dispenser substantially reduced its covera

Why did not affect the U.S. government closed rabbit cotton ball dispenser most watched an ordinary U.S. trial prospectors reproduced
Recently, "New rabbit cotton ball dispenser York Times" published a Republican Congressman Dave A Stockman (David A. Stockman) article, "How the U.S. economy towards full bankruptcy? "Stockman had in 1981-1985 served as Ronald Reagan (Ronald Reagan) President's budget director, most recently with a new book," large deformation: rabbit cotton ball dispenser American capitalism corruption "(The Great Deformation: The Corruption of Capitalism in America).
Since the S & P 500 index in March 2000 for the first time to reach the current level, the Fed's printing presses have been crazy to their balance sheet expansion sixfold (from $ 500 billion to $ 3.2 trillion). However, in this period, the average annual economic output increase of only 1.7% (which is the slowest growth rate since the Civil War); commercial real annual growth rate of only 0.8% investment; annual growth in the number of formal jobs only negligible 0.1%. Median household real income growth of 8 percent decline, the number of middle-class full-time jobs fell by 6%. Income "minimum" 90% of the true value of the population fell by a quarter. Receive food vouchers and disability assistance has more than doubled the number of people, reaching 59 million, accounting for about one-fifth of the U.S. population.
The federal government and its central bank partners Fed tried another one goal - streamline the business cycle, inflation and unemployment at the same time will minimize the spread great social safety net, improve homeownership rates and provide medical subsidies, support traditional industries (agriculture, automotive industry) and promote new industries ("clean" energy, bio-technology) development, the most important is to provide relief to Wall Street. Today, they have been too heavy a load, too much pressure and the strong interest groups peripheral tight overwhelmed. In about stimulating "demand" rabbit cotton ball dispenser empty ritual incantation in the United States to pursue modern Keynesian has gone bankrupt, rabbit cotton ball dispenser paralysis, caught in the mud, even if it gave birth to a way to let the richest 1% of the population regularly shaped reap speculative profiteering crony capitalism .
During World War II (WWII's contribution to ending the Great Depression is far stronger than the New Deal) the critical moment, the U.S. government has become extremely bloated expansion, but it is remarkable that, in the D Dwight Eisenhower (Dwight D. Eisenhower) rabbit cotton ball dispenser in charge rabbit cotton ball dispenser of the White House and Little William McChesney Martin (William McChesney Martin Jr) in charge of the Fed's mid-20th century, the United States ushered in a sound monetary and fiscal rectitude golden era, such expansion thereby obtaining short curbed.
Next, Lyndon B President Johnson (Lyndon B. Johnson) brought "guns and butter" of radical policies, to 1971, in a treacherous weekend at Camp David, rabbit cotton ball dispenser Maryland, this tendency has been further strengthened. At the time, Richard M Nixon (Richard rabbit cotton ball dispenser M. Nixon) final between gold and the dollar can not be converted, substantially equal to repudiate the national debt. The move - can be said to be more serious than Watergate sin - means the downfall rabbit cotton ball dispenser of the country's financial discipline rabbit cotton ball dispenser and up to 40 years carnival begins. In these 40 years, rabbit cotton ball dispenser we lived in luxury, the cumulative current account deficit to as much as $ 8 trillion. In fact, the United States experienced an internal leveraged buyouts, putting a total debt (public and private) and the ratio between the economic output from the historical level of about 1.6 to about 3.6. Thus came the $ 30 trillion of excess debt (total debt exceeded $ 56 trillion in half), still threatens the U.S. economy.
This explosion of debt is the product of liquidity trick, this trick is Milton Friedman (Milton Friedman) rabbit cotton ball dispenser Nixon Goni invention. Friedman is a hero of the so-called free market economy, in fact it is the endless expansion of the money supply, sowed the seeds. This year celebrates the centennial of the Federal Reserve in the 1970s contributed rabbit cotton ball dispenser to the extreme inflation of goods and commodities, thanks to Paul A Volcker (Paul A. Volcker) iron will, so that the situation was under control. Volcker in 1979 to 1987 Fed chairman.
In his successor, disgraced hero Alan Greenspan (Alan Greenspan) under the management of the Federal Reserve to Friedman's monetary expansion that weak rules aside, at long time, the Fed put Interest rates remain at low levels, and to inject a lot of new issues on Wall Street money. Greenspan put the final concept of the Federal Reserve Bank named in 1998 for the hedge fund Long Term Capital Management (Long-Term Capital Managemen) assistance rabbit cotton ball dispenser in this unforgivable act, which has been strengthened. Greenspan PUT "refers to the Fed's unwritten promise that if the market in asset prices, it will intervene, as they occurred in the 1987 stock market crash after doing that.
Greenspan's loose monetary policy, why did not lead to inflation, simply because the price of domestic goods and labor from Asian factories are a large number of imported products are suppressed. By offshoring U.S. tradeable goods business, the Federal Reserve curb the consumer price index (Consumer Price Index), but the consequent excess liquidity has also led the field of financial asset prices soared. Greenspan's connivance gave birth to the most prosperous in American history stock market, stock market crash occurred since 1987 to 2000, the Internet bubble burst, the U.S. stock index rose fivefold.
This change reinforces the Reagan camp stereotypes that "the deficit rabbit cotton ball dispenser does not matter", it also reinforces the reality that the United States' publicly held, "the $ 12 trillion national debt, there are nearly 5 trillion national debt is actually hidden in the central banks insurance Curry. In Ronald Reagan (Ronald Reagan) implemented within any number of strikingly initiatives, is far from prudent fiscal consequences of the most serious one, which is as the Reagan administration budget director in 1985, I resigned a reasons. This is the Republicans abandoning Coolidge Calvin (Calvin Coolidge) a balanced budget policy to create a model, but also to George W Bush embarked on a road of no return, he used two expensive wars without just cause, the federal health insurance (Medicare) is expanding rapidly, rabbit cotton ball dispenser as well as a series of tax cuts for the rich, the U.S. sent into bankruptcy. Washington lobbyists have become a national tax policy for the actual rabbit cotton ball dispenser manipulators. Republicans indeed pursuing Keynesian, rabbit cotton ball dispenser but this is for the rich Keynesianism.
The explosive growth of the real estate market, rabbit cotton ball dispenser we have a lot of detailed records. False credit rating of securities fraud, and mortgage lenders, the original creditor and brokers intentional rabbit cotton ball dispenser improper operation helped sparked this growth. More well known is that, as of 2008, eight years, rabbit cotton ball dispenser the Wall Street bank's balance sheet, the top ten large-scale expansion. Although the bank's meager capital almost no growth, but they are unstable "hot money" but in dependence soaring, this is because, from the Great Depression of the outstanding regulatory weapon "Glass - Steagall Act" (Glass- Steagall Act) was completely abolished.
And in 2006 served as chairman rabbit cotton ball dispenser of the Federal Reserve S Bernanke (Ben S. Bernanke) issued a serious warning the contrary, the threat was far less than "the new version of the Great Depression" or "financial nuclear winter" level. "Great Depression" (Great Fear) is purely Wall Street's own making, it failed to vote in the House "Troubled Asset Relief Program" (TARP) after the stock market plunged, the House of Representatives and later to make concessions, and ultimately adopted the rescue plan . If President Bush and his Goldman Sachs (Goldman Sachs) Consultant (ie Minister of Finance) M Little Henry Paulson (Henry M. Paulson Jr.) Stand firm, to quell the crisis itself, and let the speculators assume they deserve rabbit cotton ball dispenser loss. Entity banking system has never in serious crisis, automated teller machines will not shut down, the financial industry will not collapse from within. rabbit cotton ball dispenser
However, just the opposite, the White House, Congress, the Federal Reserve, the Bush and Obama the next president to take risks, to take a series of reckless initiatives, which not only unnecessary, but also bring bad consequences. For example, the automotive industry is nothing more than aid in the workplace rabbit cotton ball dispenser shattering - especially to the aging of the population, but there are important electoral significance of the "rust belt" fill - but did not keep the job. Obama's economic stimulus plan "green energy" rabbit cotton ball dispenser part of the capital is to nearly $ 1 billion away to crony capitalists, such as venture capitalist John Dole (John Doerr) and a self-proclaimed space dreamers Eilon Musco ( Elon Musk) and his ilk, the purpose is to create a new toy for the rich.
Obama's $ 800 billion economic stimulus plan, less than 5% of the flow of the real need food stamps and labor income tax credit and other forms of poverty alleviation programs of the crowd. Has become a lavished most of its state and local governments a lot of money, political spoils-style infrastructure projects, business tax loopholes and indiscriminate white middle-class tax relief. Democratic Keynesians, like their Republican colleagues intelligence depletion (although less than the latter so hypocrisy), they borrowed money to consumers, hoping that they buy a lawn mower, flat screen TV, or at least go to Red Lobster (Red Lobster) what the next restaurant, in addition to simply do nothing.
Blind adjustments in the Fed, Congress is worried. Prides itself rabbit cotton ball dispenser on fiscal hawks, the House Budget Committee rabbit cotton ball dispenser (House Budget Committee) D Chairman Paul Ryan (Paul D. Ryan) did not dare reveal the truth: rabbit cotton ball dispenser the 10-year deficit is actually $ 15 trillion to $ 20 trillion rabbit cotton ball dispenser of room, much higher than the Congressional Budget Office estimated $ 7 trillion. According to the latest estimate of the Congress, the next 10 years will emerge 16.4 million new jobs, but only in the past 10 years there have been 2.5 million new jobs, this figure is just more extreme paranoia Washington an example.
Even the so-called "bold" measures - the Social Security benefits rabbit cotton ball dispenser of living adjustments and inflation index linked to another - only in 10 years time to save $ 200 billion, less than the deficit of 1 %. Ryan's latest budget shamelessly let the Social Security and Medicare benefits, although these two social welfare programs for the nearly $ 19 trillion a considerable portion of the costs to be wealthy to enjoy old age class. At the same time, he proposed that in the next 10 years on the value of the $ 7 trillion safety net - Medicaid (Medicaid), food stamps and the Earned Income Tax Credit - for 30% of the harsh cuts, which is 99% of the population against the United States Republican Party another battlefield.
America's prospects are bleak. China in the past 15 years, investing heavily in infrastructure, but thus creating the biggest building boom is slowing. Brazil, India, Russia, Turkey, South Africa and all other growth in middle-income countries are unable to compensate for this demand gap. U.S. monetary and fiscal stimulus mechanism has reached its limit. Japan is caught in old bankruptcy rabbit cotton ball dispenser period, Europe is sinking into the welfare state senescence. In Beijing, the new rulers who came to power last year to understand, after 20 years of crazy lending, speculation and after construction, even if they will eventually face the end of the day a good day.
Future national depressed miserable scene with Ben Bernanke announced in 2004 that the "Great Moderation" (Great Moderation) can be described as a world of difference, when he predicted that economic prosperity will not last forever, because the Fed has control of the business cycle; until 2007 March, he also said in testimony subprime crisis "looks can be controlled." Now the economy is not a "detente" but "big deformity", the manufacturer is a big gamble on Wall Street encouraged the central bank, it will enter into a wrong road, the depositor crucified "zero rate" of the Cross, and triggered a global commodity bubble. This bubble by increasing food and energy prices to erode people's living standards, and for this form of inflation, the Fed's inflation rate in the calculation of the time irresponsibly abandoned rabbit cotton ball dispenser side.
All of this requires political system rabbit cotton ball dispenser substantially reduced its coverage, and to repeal the presidential election rabbit cotton ball dispenser system, because the government agencies rabbit cotton ball dispenser and the re-election campaign team who have become inseparable. Both would require separation to make substantial amendments to the Constitution: Adding an amendment gives the president and members of Congress a single six-year term, can not be elected; 100% for candidates supported by public funds; strictly limited campaign duration ( For example, rabbit cotton ball dispenser up to eight weeks); and had worked a lifetime to prohibit any legislative and executive branches of the persons engaged in lobbying activities. In addition, you need to completely rabbit cotton ball dispenser overthrow of the "Citizens United case" decision and asked Congress to pass a balanced budget, otherwise we face the automatic spending cuts.
Of course, these will never happen because the Fed lowered interest rates would not have been artificially propped up trillions of dollars of assets, from Shanghai's rabbit cotton ball dispenser skyscrapers rabbit cotton ball dispenser to "Fortune" (Fortune) 1000 strong stocks, to the recent property market "recovery." Financial, moral, and academic theoretical level, the United States have been bankrupt. The Fed has ignited a subversion of its global currency war. Japan has already enrolled, Brazil and China are very angry, but to Germany