china blames wall street meltdown on fed overissuance of currency

You find out the damndest things in foreign press.  China blames wall street meltdown on fed overissuance of currency? C’mon.. really?

You can read further over at Prison Planet, where Paul David Watson explains it.

Ok… maybe it’s a little oversimplified (who really understands economics?) but they have a point.  Funny, though.. you never hear this kind of thing on the news.  You don’t even read it in the papers.  Why is that?

This is an easy one, even for non-economics people.  The mainstream media (MSM) is controlled as to what they can and can’t talk about.  This is not hard to do, especially given media consolidation, where only a few people own most of the media (tv, radio, newspapers).

It doesn’t stop there either.  If you know someone unfortunate enough to have an AOL email address, send them two emails that are the same, but add `whatreallyhappened’ to one.  The one without the added text will go through.  The other won’t.   I verified this.  A friend who used to work for AOL noted my shock and said he wasn’t surprised in the least.  Whatreallyhappened (dot info?) is one of those sites that has news that the MSM won’t report.   I never thought anyone would take it this far, but here it is, staring us in the face.

Now we have to go overseas for manufacturing and news.   Even if we could somehow bring back the jobs, we’d still have to go there for news.   Purchase a shortwave radio and scour the web for news you don’t hear locally.  It’s not hard to find and you’ll be much better informed for it.

Let’s move from the national level to local, shall we?

The situation is a normal household consisting of husband, wife, and two quadrupeds.  Wife is disabled and receives a small amount from Disability every month, husband has a full time and part time job.  If for some reason fuel goes through the roof pricewise, it cuts way into the household budget, which is already strained.

As a result, the household is in the red.  Disability won’t simply grant you an increase.  Jobs may allow a cost-of-living raise (which never seems to equal the cost of living) and maybe a bonus, but they won’t do it on-demand.  The people can not legally print money to pay bills.  What to do?

Wife, who does the finances, has to blow the whistle and say that things need to be rearranged.  What do you do when spending necessarily outpaces income?  You have to cut spending.  There is simply no other way to make ends meet.   The output cannot be equal to or greater than the input: it’s true in finances and physics.

Our financial system seems to operate by laws more complex and difficult to understand than quantum physics.  I won’t claim to understand it.  What I do understand is that eighty five billion dollars of taxpayer money seems to have materialized out of nowhere to bail out very large financial institutions which made ridiculously risky business practices a daily occurrence.

If Wife goes on a spending spree, buying new furniture and a few guitars for Husband, Wife had damn well know how she’s going to pay for this.  It sure isn’t going to fit into the household budget.  Maybe Wife has her own streetcorner (in which case Wife will lose Disability income).  It is the job of the Household to keep expenses in line with income.  These purchases don’t pay for themselves.  It’s not like drugs.

Why is it that when airlines and banking industries go on a spree and can’t afford it, money pops up out of nowhere to bail them out?

If Husband and Wife use New Math to figure out their finances, they could lose their home.

If banks give away loans regardless of ability to repay, they get a taxpayer-sponsored government bailout.

Are you starting to see the pattern?

Stop arguing McCain versus Obama.  What we really need in the White House is a housewife.  One who has done what she has to in order to feed the family and pay bills.  One who understands that you sometimes have to Do Without to balance the budget.

How many trillions of dollars in debt are we?   We are working with Magic Money<tm> now.  Small wonder we’re in such sad shape.

Ask yourself this:  who are we in debt to?

Interesting facts: the Federal Reserve isn’t federal or a reserve.  It is privately owned.