"THE QUIET COUP"

http://www.theatlantic.com/doc/print/200905/imf-advice?x=65&y=6

Intro by Ron Smith to above

Tuesday, March 31, 2009 Ron Smith




“Overborrowing always ends badly, whether for an individual, a company, or a country. Sooner or later, credit conditions become tighter and no one will lend you money on anything close to affordable terms.” – Simon Johnson.

This quote comes from an article in The Atlantic by Mr. Johnson, a former chief economist for the International Monetary Fund. In it, he lays out a strongly put argument that the current economic crisis has revealed some very unpleasant realities about the United States, most importantly how “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.”

We are, says Mr. Johnson, under the thumb of an unholy alliance between Wall Street and Washington that created an oligarchy that has run amok, frighteningly similar to how the oligarchs in Russia and other emerging markets have acted in more localized crises.

*You can sit back and take it...as they lean forward....and take it.

Duratek