Thursday, October 15, 2015
Murray Sabrin on Bernie, Hillary and the Debate
A Letter to the Editor of the NorthJersey.com from Murray Sabrin:
Re "Clinton goes on the offensive," A-1, Oct.14. The first debate of the five Democratic presidential candidates underscored their economic illiteracy and Mrs. Clinton's lust for power. Senator Sanders stayed on his message of "income inequality," without explaining why the income gap in American has widened during the past four decades.
If the senator from Vermont had any knowledge of money and central banking, he would have taken the time to explain how the Federal Reserve is the "engine of inflation"--creating money out of thin air and thus boosting asset prices--stocks, real estate--and nominal incomes of upper income households, and redistributing income from the middle class to the financial elite. Instead, the senator railed against casino capitalism, which is the result of the Federal Reserve's zero interest rate policy of the past seven years.
As far as Hillary Clinton is concerned, her remarks about being in the 1% (she and her husband have made tens of millions of dollars in speaking fees and other compensation since they both left the political arena over the past 15 years), was disingenuous at best. Mrs. Clinton did not "work hard" for her success. She never invented anything, created a business or improved the well being of the American people with an innovation or her entrepreneurship skills. Her financial "success" is solely due to her political celebrity and that she is a presidential candidate who could occupy the White House beginning in January 2017. Mrs. Clinton's outrageous speaking fees are nothing more than the financial elites' payoff to have access to the Oval Office if she is the next president.