Source of the Current Economic Scene

The best explanation I have heard for the recent economic crash has come from Peter Schiff, investment adviser and Senate candidate in Connecticut.  I will have to look back at his videos on YouTube to find it and to be certain I duplicate it.

In Mr. Schiff’s explanation it started in the late 1990’s with the Internet crash, then the housing boom and then the crash started in late 2007.  That’s regarding the immediate economic crash.  However, the real problem starts much earlier.  Ron Paul puts it on the Federal Reserve, which was created in 1913.  Certainly the Federal Reserve has a lot to do with the situation we are in today.  But the real cause lies even earlier.

I put it back in the early Renaissance with the creation of the banking system.  Before the Renaissance the last viable economic system the Western world saw was in the Roman Empire under Caesar.  More later.

Advertisements
This entry was posted in Economy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s