Wisdom from the past wasn’t enough to save us from today’s US economic crisis. The effects of which are being felt in LA and throughout the US.
Here is some interesting insight that has been recently posted on Chris Knudsen’s blog,which I recommend, about the US economic crisis and its effects.
Quote From Thomas Jefferson:
?I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.?
Tent cities springing up in LA as a result of the mortgage crisis.
Sad thing is that the worst is yet to come.
