Let's go back to the beginning of the current economic crisis — yes, it is still a crisis for many millions of Americans who lost their jobs, ruined their credit, filed for bankruptcy, lost their homes, and lost their lifestyle. Shanty towns have popped up all over America, though rarely gaining media exposure.
Tens of millions have been ripped from the middle class back down into the poverty from whence their parents or grandparents had climbed.
Make no mistake: it is not capitalism that got us here; it is government interventionism and central banking — the Federal Reserve.
The first two charts we're looking at are the S&P 500 Index (top) and the Effective Federal Funds Rate (bottom). Our current economic state of affairs began with the Internet bubble (the red arrow on the first chart), which itself was exasperated by an earlier easing of the federal-funds rate (the green arrow on the second chart).
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