On The Economy

There have been some complaints that not enough is being written on the Economy, and that there is too much focus on Obama's shady past. True enough, the stock market hasn't been looking too good this past week. Or the week before that. Or even the week before that one. But plenty of folks have been writing about it, and plenty of politicians have been laying blame at each others feet about it rather than take any responsibility for their own part in this debacle (talking to YOU, Barney, Barack, Chris, Harry, Nancy, Joe...All of you folks who have benefitted so much from Fannie Mae and Freddie Mac - talking to you, Chris and Barack.). And many of us have written about ACORN, their pressure on banks to make these sub-prime mortgage loans to people who couldn't re-pay them. So, yeah, I think we've written about it a fair amount. Perhaps not what some people wanted to HEAR, but the truth can be a difficult mistress...

You know, someone else wrote about all of this. I reckon we should have paid more attention:

I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

And:

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
Thomas Jefferson

I'm with him on this. And, there you have it.