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Monday, October 17, 2011

Blame Government, Not Greed - And, Please, Ignore Central Banking

There is no mystery where the Occupy Wall Street movement came from: It is an offspring of the same false narrative about the causes of the financial crisis that exculpated the government and brought us the Dodd-Frank Act. According to this story, the financial crisis and ensuing deep recession was caused by a reckless private sector driven by greed and insufficiently regulated. It is no wonder that people who hear this tale repeated endlessly in the media turn on Wall Street to express their frustration with the current conditions in the economy. Their anger should be directed at those who developed and supported the federal government's housing policies that were responsible for the financial crisis. – Wall Street Journal

Dominant Social Theme: Look here, look here ... It's government policies, see! Don't look THERE. Don't look at central banking. Look away from there. Look here ... at government.

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1 comment:

Anonymous said...

Fortunately, except for nyc, across the country, participation is negligible.