tag:blogger.com,1999:blog-7534539169157708222.post3530380840887096236..comments2024-03-26T12:19:52.801-04:00Comments on Tea at Trianon: Congressman McFadden's 1933 Speechelena maria vidalhttp://www.blogger.com/profile/17129629173535139807noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7534539169157708222.post-41633418171960669482010-10-28T18:32:25.834-04:002010-10-28T18:32:25.834-04:00The same can be said of EVERY government agency an...The same can be said of EVERY government agency and policy designed to spur "growth" (read debt and inflation), or to disguise losses, waste, and inefficiency- or just plain obsolescence- in any particular industry or field. <br /><br />I'd like to fade the HUD, the FHA, the GSEs such as Fannie, Freddie, and Ginnie. They have done nothing but destroy our central cities (FHA redlining in the 50s and 60s), promote sprawl development,and push the cost of housing not only beyond the working poor, but the lower-middle class as well... and that was before they worked in concert to create a global debt-bubble that is plunging us all into depression, made of debt that can never, ever be paid back. <br /><br />Then we can sunset the DOT- thanks for a 5.7M mile highway system that forces people into suburbs and cars, and prodigious energy waste. <br /><br />And then the rest of the giant hairball of subsidies, incentives, and other Corporate Welfare that skews our markets, creates perverse incentives that generate incredible wastes of resources and human energy and talent, and kills new, developing industries that could produce things we will badly need in the future, to support that which is obsolete and wasteful. <br /><br />We need some regulation but only that which pertains directly to health, safety, and protection against theft and fraud. Unfortunately, our authorities have done more to promote fraud and malfeasance than any private entity, no matter how corrupt and criminal.The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.comtag:blogger.com,1999:blog-7534539169157708222.post-14053010797213198582010-10-28T08:34:24.117-04:002010-10-28T08:34:24.117-04:00Still true today. Same can be said of 'Fannie...Still true today. Same can be said of 'Fannie Mae' and Freddie Mac'.Julygirlhttps://www.blogger.com/profile/08113475639726723076noreply@blogger.comtag:blogger.com,1999:blog-7534539169157708222.post-70235165282811787982010-10-28T06:13:47.951-04:002010-10-28T06:13:47.951-04:00Thank you very much for this post and for the link...Thank you very much for this post and for the link to Congressman McFadden's speech. Mr. McFadden's remarks are even truer today than they were in our first Great Depression, and they will continue to resonate as we continue over the cliff to complete ruin in our current depression, which is nowhere near being over.<br /><br />I recommend reading "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin, which tells the detailed story of the formation of the Fed and its destructive policies over the past 97 years. You will probably have to buy the book if you want to read it at leisure and absorb it thoroughly, because it is long and detailed, and there is so much demand for it at local libraries that I could not renew it, even though Chicago's library system has dozens of copies. So I'm caving in and buying a copy for my own. <br /><br />Nothing I've read leaves me with any doubt that the Federal Reserve is one of the most destructive institutions ever to be sponsored by our government, and that we will need to find a way to completely dismantle it if we are ever again to have an honest, free, productive economy, and economic opportunity for anyone not born into the bankster class.The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.com