Forum Post: Former Assistant Secretary of the Treasury In The Reagan Administration, Paul Craig Roberts, Brutal Truth
Posted 12 years ago on Jan. 6, 2012, 2:59 a.m. EST by truth2012
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Damn thats a pretty good read. Thanks for posting this.
How was he so wrong then and so right now? I have no answer, but I agree with the vast majority of his comments.
Hindsight is 20/20.
Good point it was Reagan who started our dependance on debt, he was the one who appointed sociopath Greenspan to the fed, those two moves were the end of America as we knew it.
Sociopath is a good descriptive word for him. I can think of others too....inbred....criminally insane.........
You know nothing that happened here in the crash is much different from 1929, somehow somewhere folks should have learned from history. For the most part it wasn't stocks this time. The creative over leveraged self destructing derivatives in 1929 were made of stocks and they did learn that , it's just that they used almost the same formulas to create the CDO's that blew up this market.