Stimulus packages and bailouts are required to maintain the stability of a society. If the wealthiest and most powerful people in a society make a mistake, it is the responsibility of everyone in that society to collectively and financially forgive them of their mistakes. If it were not for this collective financial forgiveness of the bad decisions made by the elite, they would not be able to continue to impose the necessary policies on society.
The benefits may be obvious to most, but there are many that incorrectly believe these offer no improvement to the economy and even go as far as calling it a scam or conspiracy theory. Klaus Masuch of the European Central Bank (ECB) offers a "depth of discussion" on this issue. The eloquence and precision of his words need no clarification.
The so called "journalist" in the video was clearly a conspiracy theorist which Masuch handled with great composure. The benefits to the Irish people are absolutely clear. The banks will be saved. Without the necessary bailouts for the banks there would be no place to deposit depreciated euros.
CEO of Euro Pacific Capital Peter Schiff claims he predicted the housing bubble would come, but has absolutely no proof or documentation of this; unless one considers YouTube videos and published books as valid proof. The most stubborn and unconvinced can never refute the dialectic of former Chairman of the Federal Reserve Paul Volker. Watch what happens when an obvious trickster hands Volker a loaded question.
If you cannot hear Volker clearly or understand anything he is saying, then you have heard him correctly. The question Peter Schiff asked is completely off base and does not even deserve a direct response. Schiff is an obvious charlatan. He takes sound principles, pushes them out to the extreme, and makes bold arrogant predictions using logic and reasoning. This arrogance is not only limited to Schiff. Notice the arrogance in GOP presidential candidate Ron Paul's face as Joe Scarborough reads from his book. Paul sits there with a causal smirk like he was the only one that guessed the housing bubble.
It is completely fallacious to believe that Schiff and Paul predicted this alone. They are known to have ties with a group that calls themselves Austrian economists. An investigation from the Department of Homeland Security discovered that speculation was the real cause of the severe housing bubble and crash. This organization was the impetus behind the prediction. These so called soothsayers have openly claimed responsibility for predicting the housing bubble and bust. The State Department has now declared this group a terrorist organization.
Due to the unfortunate clauses in the First Amendment, the previous and current administrations were unable to silence the Austrians before they wreaked havoc on the American economy. Sources tell us that they are developing or have already developed new predictions for the economy. The FBI believes the next target is the bond market. Fortunately, we have a president that is working night and day to do away completely with the First Amendment rather than succumbing to the Austrian's threats. On March 9th, 2012, Obama signed into law HR 347. Although it was meant to quiet protesters, this was the first step in the incremental process to repeal the First Amendment so that one day we can stop any future economic speculation or ideas that can further destroy the economy. The administration hopes that these measures will give the people of this nation comfort in knowing that the necessary bailouts and other economic policies will continue, domestically and internationally, unchecked and with minimal critic.
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