Let's Recap: How did we get into this mess? Where does it end?

No Chance of Default, US Can Print Money: Greenspan - CNBC

Fantastic. Greenspan says we're OK because we can print money. In my recollection, Greenspan and this kind of thinking is the cause of the crisis. It IS the problem. Shortly After Osama hit the World Trade Centers Greenspan and Bush pumped liquidity into the system by pushing interest rates to historic lows. (Combine that with Clinton and Barney Frank forcing banks to loan money for houses to anyone with a pulse...) Greenspan was the guy that moved the Fed from fighting inflation to fighting recession. Now we have the Fed in the business of fighting stock market swings.

Where does it end? Oh, Hayek already told us how it ends--he watched the rise of the National Socialist (Nazi) Party in Germany. See, The Road to Serfdom by Hayek. Socialism is a one-way street that ends in Totalitarianism and brutal repression and the murder of millions. Obama is a fool. Dangerous, but a fool. He is, however, preparing the way for a madman like Hitler.