Answer: Yes & No Financial weapons of mass destruction - Warren Buffett Financial economists in Ivy League schools created advanced mathematical concepts to enhance the ability to make money - These enhancements were implemented into the market and to their surprise - really worked! These concepts created money out of thin air.
Financial enhancements not only supported Wall Street employees, but rather, the whole American public.
The problem was that it did not last forever.
There was a critical flaw in the financial theory.
The theory found a crack in the financial system and regulations that created wealth for everyone.
The critical flaw was that the U.
S.
system cannot be founded on falsehoods.
No? Houses went up in price - credit was over extended - everyone got a pay raise - products became cheaper - we all were living the good life, but it was based on a false reality.
It was based on ghost cash.
How did this happen? The American Dollar is not based on gold, but rather, faith.
The faith that the invisible hand of the market will correct the value based on supply and demand.
When the market has a hiccup, the Federal Reserve pulls a few strings to correct the system.
Is this good or bad? Short answer - It's both! I argue that by removing the Dollar from the Gold Standard and transferring to the Market Standard, we now have the extensive technology that is heavily enjoyed today.
The wireless hi-fi Internet, Smart Phones, Apple products, Digital cars, 3-D TVs, Amazon, Google, the works! By flooding the system with fantasy cash enabled more progress because more projects were started & completed, more people worked, and more innovation happened.
Market Standard = Enhanced innovation and product development, more materialistic satisfaction, greater job growth, increased pay, more opportunities, (i.
e.
the Rabbit) Gold Standard = Slower growth with safe gains, average job growth, average technology, (i.
e.
the Turtle) What we don't know we don't know.
Why not continue this Market Standard behavior? The World outside of the U.
S.
supports our behavior, but their tolerance is running out.
Americans are the biggest consumers of the World - We buy products from everywhere, everyone, and we don't discriminate when it comes to buying materials.
We want it all! Famous quote: Bears make money, Bulls make money, and Pigs get slaughtered.
Why? Greed and the fast paced lifestyle cannot be upheld over long periods of time.
Something has to give.
The problem is the way of life that we have come to love, and thoroughly enjoy, is coming to a fork in the road.
The financial enhancements have been recognized and the Madoffs of the world have been mostly identified.
The FED has interest rates at an all-time low, the housing crisis still exist, unemployment is over 9%, under-employment is over 25% ( I made that up - It's probably higher!), and the American people are pissed off! The fantasy came to an end.
We know what we didn't know and we want it back - the fast life! Why do we blame Wall Street? Short answer: Wall Street is the symbol of financial wealth - it signifies financial power.
Wall Streeters are still living the good life, and average people with basic mortgages, average jobs, and average lifestyles are the people being affected by this situational whirlwind.
Wall Street executives make the most money - Why? People in finance get paid the most amounts of money - Law of Attraction! The people with the most money and who have gained the most from these situations want breaks and want bailouts from U.
S.
Governmental laws and regulations.
What do people have to say about that? Contingency: Everyone should get the same break - not just Wall Street.
If not - People are ready to fight.
You could put Military in a Country and try to control them, but that is nothing compared to controlling their currency - In effect, they are your slaves.
People have this saying: Money makes the world go round.
I disagree but that is the common consensus.
Disclaimer: I love America and support the U.
S.
Government but the procedures, certain laws, & operations need to be geared at preventing future problems.
Not, focused on fixing past problems, and focused on supporting the "privileged".
People are people and are all equal.
The words of Thomas Jefferson need to be implemented instead of finding ways to go around them.
Live by the sword - Die by the sword