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Author Topic:   What Went Wrong & The Price of Civilization
Diomedes
Member
Posts: 973
From: Central Florida, USA
Joined: 09-13-2013


Message 3 of 5 (763023)
07-19-2015 4:30 PM
Reply to: Message 1 by Jon
07-17-2015 10:41 PM


Both authors are critical of the political and economic policies of Republicans in the last several decades. For example, they both speak disparagingly of Alan Greenspan. Tyler discusses Greenspan's role in undoing the budget-balancing trend of Clinton

There is a documentary I just started watching on my streaming Netflix called 'Money for Nothing', which takes a critical view of how the Federal Reserve's easy money policies have helped fuel various asset bubbles and how their monetary easing policies essentially robbed middle class Americans of the interest on their savings accounts in order to 'shore up' the balance sheets of Wall Street Banks.

Sadly, the damage now is already done and I don't see any politicians looking to go after bankers or any CEOs anytime soon regarding the financial crisis debacle. And who can blame them? Thanks to Citizens United, politicians now go out of their way to placate to the most wealthy.

Oligarchy, here we come!

Edited by Diomedes, : fixed typo


This message is a reply to:
 Message 1 by Jon, posted 07-17-2015 10:41 PM Jon has responded

Replies to this message:
 Message 4 by Jon, posted 07-19-2015 8:13 PM Diomedes has responded

  
Diomedes
Member
Posts: 973
From: Central Florida, USA
Joined: 09-13-2013


(1)
Message 5 of 5 (763499)
07-25-2015 8:25 PM
Reply to: Message 4 by Jon
07-19-2015 8:13 PM


I've been debating whether to take the time to watch that film, but now that you've mentioned it I am going to make it a point to see it.

Just finished watching it. Well worth you time in my opinion. Takes a very interesting view of how the Fed (specifically Greenspan) helped exacerbate the asset bubbles that we had. Lots of interesting interviews from other folks including the Vice Chair of the Fed himself during Alan's tenure and even he admits their actions had dire repercussions.

Volcker is also interviewed and I have to say, that man really was someone who knew that he 'had to do the right thing' in spite of the short term negative effects his actions would entail.


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