Commodities: Economic Crisis Part 1 of 5

Points covered in video:

Bailouts

Not good for America or world

Bailing out those making bad decisions

Incompetent people should be allowed to fail

Competent people or businesses can start over from strong base ... system grows again

Bailouts are taking assets from the competent and giving them to the incompetent

Entire system is weakened as a result

Incompetent keep bonuses because taxpayers are paying the bill

America as we know it will not exist any more

People responsible haven't even lost their jobs

Previous round of people that did lose their jobs walked away with millions

Money has shifted to Asian economies

Obama has no answer but wants to spend even more

It took 200 years to build a $5 trillion debt in America, in less than a year it stands at least at $15 trillion

Must allow incompetent to fail

Someone has to pay for the last 10 years of excess

18 years after Japan refused to let anyone fail, it still hasn't recovered near to levels at that time

Amazingly, Alan Greenspan went to Japan about 18 years ago and told them they needed to let things fail. He forgot his own correct advice

America now doing the same thing as Japan

Alan Greenspan main culprit of current economic crisis

Should be very worried about future of America



Part One Part Two Part Three Part Four Part Five