The Ponzi Decade: A Lost Decade in Stocks, Industrial Production, U.S. dollar, and Housing

It is fitting that we end the current decade just like we started it, with the bursting of bubbles. In the early part of the decade we were dealing with the fallout of the technology bust. That was quickly replaced by the even bigger housing bubble and that has now popped as well. The trillions lost by average Americans is incredible but in reality nothing was technically lost because the entire decade was one enormous Ponzi scheme and like all Ponzi schemes the wealth created is false. Bernard Madoff was simply the mascot of a decade built on phony money spewed out by the corporatocracy of Wall Street. What is even more troubling is how the actions taken by Wall Street are not being prosecuted in the same fashion as our justice system took on Bernard Madoff. The reason for that is the corporatocracy has legalized national bank robbery. (more)