You load sixteen tons, what do you get Another day older and deeper in debt Saint Peter don't you call me 'cause I can't go I owe my soul to the credit card co.
The Road to Debt-Serfdom charles hugh smith Thursday, January 24, 2013
"Ours is a dysfunctional debt-based Empire that buys the complicity of its debt-serfs with entitlement bread and circuses.
The road to debt-serfdom is paved by the banks and enforced by the Central State.If there is any point that is lost on ideologues, Progressive and Conservative alike, it is this: the first-order servitude and second-order tyranny of debt-serfdom can only occur if the banks' power is extended and protected by an expansive Central State.
Progressives are blind to the State's essential role in creating and empowering a parasitic financial Aristocracy, and Conservatives are blind to the tyranny of debt-serfdom imposed by the private-sector financial Aristocracy, i.e. the banking sector.
. . . There is precious little evidence that anyone in the current political Aristocracy has read the Federalist Papers, other than to pass an exam, and more's the pity. That a State run by people whose grasp of American history extends all the way back to the previous election cycle (or in extreme cases, to the Reagan era that began in 1981) is dysfunctional is unsurprising. . . . Alexander Hamilton, also a Federalist, understood the critical role of credit in fueling innovation, expansion and trade. He favored a central bank that issued sound money and prudent credit, on the 1780s Bank of England model. That the central bank would become the subservient handmaiden of private investment and commercial banks was incomprehensible.
Here is what has been lost in the debt-serf America we now inhabit: Albert Gallatin (Secretary of the Treasury under Jefferson}observed that America's rapid, diversified economic development resulted from "the absence of those systems of internal restrictions and monopoly which continue to disfigure the state of society in other countries."
If only our "leaders" read or understood Madison, Hamilton and Gallatin. But alas, they are supremely ignorant Oligarchs through and through, pleased to enforce debt-serfdom and then buy the complicity of the serfs with Federal entitlements and subsidies. "
RIGHT'S RIGHT 
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Sun Jan 27, 2013 6:34 pm
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