Daily News


September 27, 2012 By Joseph P. Farrell

This one was sent to me by Mr. P.T., and when I read it, I didn't know whether to laugh, or cry.

China—Not Wall Street—Caused 2008 Crisis: Study

Now, I have to admit, I sat and stared at one sentence in particular in this article, reading and re-reading it over and over again, unable to proceed with the rest of the article for some minutes. The sentence was this one:

"The study from the Erasmus Research Institute of Management said the saving frenzy of the Chinese created the cheap money, which fueled the U.S. housing bubble and its collapse."

Now, when you're done holding your belly and can breathe again after your laughter has subsided, or, conversely, when your tears are dry and your coffee cup is full again, we may proceed with our analysis, and we may begin with my own first reaction to this, and say:

WTF!?!?!? That said, let's get serious:

Such a statement prompts the following questions:

  • What drugs are these people on?
  • Is the American higher education system that bad? (Scratch that, we know the answer to that already)
  • Are these people getting enough oxygen? Do they have enough fiber in their diet?
  • What's their temperature? (It looks like it's either way too high, or, very cold and that rigor mortis may have set in.)
  • Are they terminally constipated?
  • Are they drunk?
  • Are they Doctors of Education?

Now, those may seem like silly questions, and they are, because such a statement coming in a study or analysis purporting to explain the crisis is silly.

The real questions that need to be asked, given the wholesale fraud these banksters committed, are:

  • Did those naughty inscrutable never-to-be-trusted but always cagey Chinese manage to save the $14,000,000,000,000,000 plus (that's fourteen quadrillion dollars, in case you didn't want to count the zeros) that allowed the western banksters to create the "derivatives"? Yea yea, we know about Dr. David Li and his Gaussian copula formula, but he just came up with a formula, the banksters were the ones nutty enough (and greedy enough, and totally unconcerned with their fellow man enough, to create these "securities"));
  • Did those naughty inscrutable never-to-be-trusted but always cagey Chinese manage to issue hundreds of thousands of mortgages to unqualified buyers through fraudulent inducement?
  • Did those naughty inscrutable never-to-be-trusted but always cagey Chinese have middle managers and workers in their banks selling mortgages on one house several times over, and "robo-signing" mortgage papers? Was there a sudden influx of Chinese workers (all of whom, presumably, were working for that naughty inscrutable never-to-be-trusted but always cagey Chinese intelligence [remember Wo Phat from Hawaii Five-O?])....where was I? oh yea, was there a sudden influx of Chinese workers at Citibank, Bank of America, and Chase Manhattan to account for this perfidious activity of too many Chinese saving too much of their money, thus enabling the poor downtrodden managers of American banks and Wall Street securities brokers to throw their otherwise incorruptible caution and highly informed business sense and lofty ethical standards to the winds?

Message to Power Elite: give us a break guys, you people can't even lie well any more.

See you on the flip side.