Is the Party Over?

From: News with Views, Derry Brownfield

We have been watching the Stock Market, the multi-billion dollar bailout, bank closings, mortgage defaults and now the entire economic mess is being turned over to the “unelected financial elite.” Patrick J. Buchanan writes: “The Crash of 2008, which is now wiping out trillions of dollars of our people’s wealth, is like the Crash of 1929, likely to mark the end of one era and the onset of another. We are witnessing what happens to a prodigal nation that ignores history and forgets and abandons the philosophy and principles that made it great. For years Americans have spent more than we earned. We saved nothing. Our standard of living is going to fall. The party’s over. What we are witnessing today is how empires end.”

Ron Paul stated: “The bailout is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. You can’t stop a problem of too much spending and too much deficits and too much monetary inflation with more of it. So I’m positively opposed to the bailout and believe it will just delay the correction that is required.” Paul goes on to say: “We are in the middle of something very big. We’re not talking about trillions of dollars, the obligation is immeasurable. An economy structured on debt and credit lies at the root of the current financial meltdown. The end comes when the people reject the dollar and I think we’re getting awfully close to this.

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