This series, which began in August of 2009, has dealt with the subject over a span of time (Banker Jekyll Will Hyde Your Money, 2, 3, 4, 5, 6, 7, 8, 9, 10).
The subject matter is basically that the banksters make things up as they go.
Therefore we really don't know the real economic conditions, we only know what they want us to think is happening in out economy.
A case in point is that we are now being told that the 2008 economic collapse was a bit more than the Bush II Administration was aware of:
Former Federal Reserve Chairman Ben Bernanke, a prominent student of the Great Depression, contends that the 2008 financial crisis was actually worse than its 1930s counterpart.(Wall Street Journal, emphasis added). They seem to never be able to figure things out ahead of time, even back in the day of that once Greatest Depression, there was hopium in the air:
Mr. Bernanke is quoted making the statement in a document filed on Aug. 22 with the U.S. Court of Federal Claims as part of a lawsuit linked to the 2008 government bailout of insurance giant American International Group Inc.
“September and October of 2008 was the worst financial crisis in global history, including the Great Depression,” Mr. Bernanke is quoted as saying in the document filed with the court. Of the 13 “most important financial institutions in the United States, 12 were at risk of failure within a period of a week or two.”
Former Treasury Secretary Timothy Geithner is quoted in the document offering a similarly apocalyptic assessment. From Sept. 6 through Sept. 22, the economy was essentially “in free fall,” he said.
ON THE night of October 22, 1929, one of America’s most widely known economists addressed a great banquet of credit men. Not only were Wall Street prices not too high, he told his delighted hearers, but we were really only on the threshold of the greatest boom in the nation’s history. The prophecy evoked a burst of applause. Next morning, a few minutes after the great bell announced the opening of trading on the Stock Exchange, the storm broke. The greatest economic depression in our history was formally ushered in — though it had been in progress for some time. From this point on, as the country slowly roused itself to a consciousness of the far-spreading crisis, leaders in politics and business repeated with invincible optimism that it was all just a wholesome corrective. After several years a waggish commentator published a little volume called Oh, Yeah! It was a sardonic recording of the persistent and unconquerable stream of promises of quickly returning health. There you will find recorded the statements of statesmen, financiers, university professors, leading economists, and editors assuring the people that it was all a blessing in disguise, a corrective phenomenon, that the broad highway to renewed prosperity lay just ahead. All of which proved quite conclusively that these men did not know what they were talking about because they had no understanding of the economic system under which they lived. Then came the collapse of 1933 on the grand scale — and a resumption of the bright prophecies of happy days.(Myth Addiction Is Establishment's LSD - 3, emphasis added). Do "these men" still not get it at this late date?
Regular readers know that Dredd Blog calls the structure of "the economy" a plutocracy, which is much like the feudal plutocracies based on war (see The Homeland: Big Brother Plutonomy, 2, 3, 4, 5, 6, 7, 8, 9 and American Feudalism, 2, 3, 4, 5, 6, 7, 8, 9, 10).
The talk of wars continue in the fog of the presstitutes as the plutocracy remains clueless to history (The Peak Of The Oil Wars - 10).
The next post in this series is here, the previous post in this series is here.