The New Depression

Click here to listen to the mp3: The New Depression

This month I’d like to take some time to try and help all of you understand what has happened with our economic system in the United States of America. For many years, in fact, from the founding of our country until the middle of the 20th century, the United States had the strongest economic system in the world. However, piece by piece our system has been chipped away until all that remains is a smoldering pile of ashes.

As you are aware, in early October of 2008 both the Senate and Congress passed a bill that gave over 700 billion dollars in what essentially amounts to “welfare” to many large financial institutions in this country. It has been called a “bail out” or a “rescue” package, but that merely obfuscates the real purpose of the bill. In effect, our government has followed the lead of other third-world nations – and I indeed call us a third-world nation as no civilized country would sell out their own citizens – by federalizing many of our largest banking institutions.

But you may not be aware of all the reasoning that went into the construction of this devastating bill. Nor may you fully understand the ramifications that this bill has for the millions of honest, hard-working people in this country. Therefore I’m going to walk though all the events that have led up to the current situation, and perhaps even offer you some perspective into what we, as White men and women, can do to help insure that our families are able to weather the upcoming economic earthquake. So let’s begin by a history lesson in the economic system of the United States.

Click here for full transcript of broadcast


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