“Kill the Fed. Lunatics run it. Tell the generals to put their toys away. Cut the Defense budget by a third. Let the Bush tax cuts expire on everybody. Let greedy, mismanaged banks collapse. Obama’s budget is a fantasy. Let the wealthy pay a larger portion for their medicare. Start the revisions ASAP. Ron Paul was right about the Fed destroying America.”
CNBC was startled when its guest, former Reagan-era money man David Stockman, barraged the interviewers with the frank comments above. The TV hosts joked about throwing Stockman off the set. In essence, Stockman says the public is being lied to by banks, Congress, the Federal Reserve and its chairman Ben Bernanke, and both political parties. Without sensible change, the country faces ruin, he says.
In an election year, it is important to take in as many facts as one can before making one’s decision. Here’s a perspective to consider as one makes a choice for November’s election: