A post of mine from the Hattiesburg American forum:
"The ones not to blame [for the current depression] are the [sic] those that lived within their means, contributed to charities, and paid the bills."
Is there anyone who lives within their means? It's not really possible to live within one's means, if by that OGH means not spending more than one makes. Or does "living within one's means" mean not having any debts? If so, no one in America "lives within their means" because our money IS debt.
Again I'll say this: average annual inflation has never decreased since 1956. That's one way of putting it--another is this: average annual inflation has only decreased in 10 non-consecutive years since the inception of the Federal Reserve in 1913. The last year in which average annual inflation was negative was 1955.
Inflation is a hidden tax on our labor that well all must pay and do not get any exemptions from. During the economic expansion from 2001-2007, most people's incomes just barely outdid inflation. Inflation created by all the fake, digital, worthless fiat currency that banks are allowed to create at our expense are the reason no one lives within their means. The savings rate of our citizenry has dipped into the negative numbers since 2005, personal debt is at record highs, and so on. No one is living within their means.
The bailout is now up to $12.8 trillion--almost as much as the $14 trillion 2008 GDP of the U.S. According to Bloomberg, that's over $42,000 now contributed by every person in America to keep this rapacious system going.
We all are to blame for this economic mess, then, in OGH's mind, because none of us lives within our means. And I'd agree with that statement, but only because the majority of us refuse to wake up and do something about getting rid of the parasitical Federal Reserve and its member banks.