Re: “Scarcely anyone will blame fractional reserve lending, lack of a gold standard, Congressional stupidity, or central bank cheap money and their bubble blowing tactics. It is a given that mainstream media will not remotely come close to pointing a finger in the proper direction.”
Mish gets one thing wrong in his article, though. Recessions are a natural part of the business cycle. Nobody deserves to be blamed for them. They WILL occur as surely as bad weather will happen one day no matter where you are. However, the severity of the next recession is, most definitely, going to be someone's fault. It will be a shame if blame for a catastrophic depression that was decades in the making gets pinned on an individual who wasn't in office during those decades.
Who SHOULD be blamed? Those who were in power, who set corrupt policies, who benefited from those same corrupt policies. That includes long term Congressmen (and, again, we need term limits), financial institutions and Agencies that had some sway over the economy, the Press, and both the Republican and Democratic parties.
Will they be blamed? Of course not. Mish got that part right.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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