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The Great Ponzi Scheme

The economy collapsed into a great recession because it was fundamentally flawed in the first place. The U.S. housing market, which underpinned the old economy, boomed because the government deregulated banks. The deregulation that began with Reagan widened under George Bush the First. It widened a little more under William Jefferson Clinton, and it broadened even further […]

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U.S. Budget Cuts – Always Letting the Future Solve Our Problems

Decade after decade, U.S. budget cuts have attempted to balance the budget in years far ahead. It’s become the American way. Congress always puts the austerity part of the program out where someone other than us can feel the pain for us or where some other congress can take the heat. We’re noble that way. […]

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DOWNTIME Part 1 – How the World Fell for It

How do thousands of the world’s supposedly most brilliant investors fall for a con like Bernard Madoff and lose their shirts and slacks? The puzzle is not to explain how one person can be such a great con. There was nothing genius about his plan. His form of pyramid scheme, known as a Ponzi scheme, is one […]

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