Janet Yellen Shames Congress For Austerity, Being Terrible

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4. The banks and uber rich were screaming, crying and shaking in their boots

in 2008 when they collapsed the economy. They begged governments around the world to save them. Notice they didn't beg each other or private corporations to save them. They turned to the government they so malign to save their sorry asses. And governments around the world all bailed out their uber rich, corporations and banksters.

But instead of taxing the people who caused the crash, the same people who have been skating on paying their taxes, to pay for their bailouts, governments borrowed the money from.... Guess who they borrowed the money from? Why the only people who had the money the uber rich and banks. So, now banks, corporations and the uber rich were made whole AND they get interest on the money they lent for their own bailouts.

But this created a huge debt to be paid everywhere around the world. And who is paying the debt? Did the uber rich and corporations start paying more taxes? NO Siree. The only way the uber rich, corporations and banks can see to pay themselves back is by cutting out what governments pay on everything else. And magically, all around the world austerity is forced on everyone, except the bailed out, to pay for the bailouts. See, the less that governments pay out on things like roads, Social Security, medical care and food for the hungry, the more that governments have to pay back on the loans they took out from the uber rich to save the uber rich from their self inflicted crash.

See how you and I have to pay for the crash twice, a crash we did not cause. We have to pay off a huge debt that we never got to spend. You and I were NOT living high on the hog, running up bills we could not meet. The uber rich, corporations and bankster were running up bills they could not pay, living high on the hog, and they are still doing it. This is why there will be a 2nd crash.

There has been NO Recovery for the general economy. Only the very rich have recovered. The rest of us are saddled with paying back the huge debt run up to bailout the rich. And these very same people who caused the crash are right back at it again. Doing the same things they always did. The Obama administration is desperately trying to delay the 2nd crash, just like the bushes tried to delay the first crash, so your guess is as good as mine when the 2nd crash will come. But unless things change drastically, we are headed for a 2nd crash.