WNU EDITOR: Must Read Article For This Weekend. Bookmark It And Take The Time To Read It

Image credit: Jim Bourg/Reuters/Corbis

The Quiet Coup -- The Atlantic

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

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My Comment: I have always been a devotee of economists who preached the dangers of too much debt and letting governments and financial institutions manipulate money for their own gain and profit by abandoning true and reliable methods to run an economy.

Social Security and Medicare liabilities that runs in the trillions. Credit default swaps and manipulated debt and insurance .... coupled now with a government and their allies on Wall Street running amok on the spending of money that is not there. The consequences from this will be severe and long lasting. The impact on National Security and World Peace will just be as severe.

The Atlantic has published an excellent article that examines the economic/financial crisis that we are in. I have made over 10,000 posts in this blog .... but this is the first time that I am asking my readers to Bookmark and keep this article for future reference and reading.

I repeat .... this is a very good article. Long, but worth the read and a browser bookmark (to reread again).