It's The Usury, Stupid

Submitted by Norm Roulet on Fri, 10/10/2008 - 23:21.

I've been trying to decide how to break it to PBS conservative talk show host Charlie Rose why the global economy has collapsed. He's been struggling with the issue for a few months now... probably since about the time his stock portfolio started tanking (he should be a very rich man, and so is losing $ millions). He's been interviewing every industrial and political devil who caused this, and they blame little government regulator people, and all decide it is best not to look back, as they weep over their lost fractions-of-fortunes. Yet not one has exposed why this occurred, which is usury.

This isn't a "housing bubble" popping - this is usury bankrupting 10,000,000s millions of POOR Americans. This should have been illegal - it has certainly been immoral - yet usury was mainstreamed and deemed acceptable and promoted as reasonable by all "capitalist" authorities in the world, including ALL the politicians elected to protect the interests of common Americans, and the news media paid very well to expose wrongdoing and foolishness.

To illustrate what is usury, a Cleveland Plain Dealer editorial today described an annual interest rate of 28% as "reasonable".

I repeat, the PD says being charged 28% interest is REASONABLE!!!


If the editors of the Plain Dealer had their home mortgage and credit card debts converted from their rich-people interest rates of 4-6% to THEIR "reasonable" poor people rate of 28%, the "editors" would default on their debts, which are certainly considerable. The Editors could not afford to pay 400% higher interest expenses, even at their inflated salaries. Neither could the super-rich owners of the Plain Dealer.

So, put in the shoes of the typical Americans, wealthy editors and newspaper owners would not likely see a 28% interest rate as reasonable.

Neither would Charlie Rose.

It is not.

Get it Charlie?

So, explain how on Earth the news media ever came to brand 28% interest rates as reasonable, and you will understand why our economy has failed. The faces of the media - the editors, journalists and talking heads - became wealthy, and participated in the upper class, and so started protecting the interests of the rich over all.

At the point the "news media" moved from main street to wall street, it had conflicts of interest... obtaining and growing wealth for the wealthy became more important then exposing poor corporate and government behavior taxing the poor.

That caused all of the problems with our economy... a main street news media that sold out to wall street.

Without a trustworthy media, the poor people got screwed.

The rich people are losing some fractional wealth, but it was bubble-wealth, above and beyond reasonable long-term gains, and they still have credit at rich-people rates, so don't expect them to start caring why the economy collapsed... for "the rich", the economy is far from collapsed... they do not want to look back, but rather how to profit more off the poor going forward.

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Paulson made $163 million as CEO of Goldman Sachs in 2006...

Why on Earth would we allow a maggot like the CEO of Goldman Sachs in charge of the treasury?

Because WE are STUPID

Disrupt IT