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Friday Dec. 4, 2009

DrStockPick.com Report!

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Capitalism, why it failed America

Corporatism which has become symbolic of Capitalism and which is rightly called Fascism had become part of American economics even before the first great depression. With its beginning firmly implanted by the enactment of the 1913 Federal Reserve Act (FRA), by which the Banks took full control over our money supply.

This new law, allowed the banks to expand the corporate presence in America and to develop even larger more powerful and politically dominant companies, openly operated by friends of these elite bankers. Companies were established and developed that over time and as planned, would become strong enough to take control of the Government itself, it is for this reason that the current administration seems to have its hands tied, and has reversed every pledge made to the American people. Remember the “Change” promised by Mr. Obama, where is this change? It has been a continuation of the George W. Bush administration with the same faces that failed our nation. They are now failing to remediate the mess they caused.

Capitalism thrives when it controls, it is most powerful when it can control government, and Capitalism must evolve to that status in order to survive. It is for that reason that Capitalism and democracy do not mix well. However Capitalism thrives under Fascism or more rightly called corporatism and it is for that reason that this system has failed America. It is for this reason that America is no longer a constitutionally mandated Republic.

Under the Federal Reserve Act, banks are able to accumulate vast fortunes not otherwise available. JP Morgan for example has assets valued at 2 Trillion dollars. And as inflation increases so does their wealth, Inflation is a friend of the banks and an enemy of the working class.

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Under Bernanke unemployment has more than doubled

Since Bernanke took over as Fed chairman in 2006, unemployment has more than doubled and, today, 20 percent of the American workforce is either unemployed or underemployed.

Not since the Great Depression has the financial system been as unsafe, unsound, and unstable as it has been during Mr. Bernanke’s tenure. More than 120 banks have failed since he became chairman, and more than 4000 others are in a questionable state.

Under Bernanke’s watch, the value of risky derivatives held at our nation’s top commercial banks grew from $110 trillion to more than $290 trillion, 95 percent of which are concentrated in just five financial institutions.

Bernanke failed to prevent banks from issuing deceptive and unfair financial products to consumers. Under his leadership, mortgage lenders were allowed to issue predatory loans they knew consumers could not afford to repay. This risky practice was allowed to continue long after the FBI warned in 2004 of an “epidemic” in mortgage fraud.

After the financial crisis hit, Bernanke’s response was to provide trillions of dollars in virtually zero-interest loans and other taxpayer assistance to some of the largest financial institutions in the world. Adding insult to injury, Bernanke refused to tell the American people the names of the institutions that received this handout or the terms involved.

Don’t feel bad for Bernanke if he is not re-nominated, he is always welcome on Wall Street

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Dr. Stock Pick is a seasoned equity trader and financial investor. He’s on the Crown Equity Holdings, Inc (CRWE.OB) financial staff as a professional investment analyst and consultant. He’s syndicated on over 1000 websites www.crwenews.com, www.stock-ir.com giving daily, up to the minute information about stocks, options, currencies and more. www.drstockpick.com

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