By: Thaddeus S. Kaczor, Jr.
In an article in TIME MAGAZINE, Massimo Calabresi puts forth the proposition that the Federal Reserve 'Saved The World Economy' by bailing out all it's member banks and their affiliates by creating tens of Trillions of dollars, then paying themselves off with it! Maybe the Fed 'Saved the World' for the Uber-Large International Banking Cartel and those FInancial services companies well-connected to it, , but in doing so it has nearly destroyed the American economy. While you sit in your ivory tower, Mr. Calabresi, those of us in 'Flyover Land' have had to deal with our savings' and investments' value being wiped out, our home values being decimated, and we are just now beginning to deal with the incipient runaway inflation. No, not the phony 'government statistical' inflation, the REAL WORLD inflation of energy, food, health care and housing that the government 'conveniently' omits from it's fantasyland figures. Likewise, the REAL WORLD unemployment rate remains at over 20%- not the relatively rosy 9% or so that the government concocts by only counting those on the dole, and not those who no longer qualify, or are what is so Orwellian-ly termed 'under-employed'.