Barney Frank is no Cassandra!

There is a bit of oft quoted wisdom that at various and apropos intervals is offered as both a reminder and warning. According to this sageness those who are not familiar with history are doomed to repeat it. . That seems true enough but I’m rather certain that there is more to it than just that. Sure those who are unfamiliar with history are doomed to repeat it . . . but so are those that paid attention to the happenings and the consequences of the happenings in the past. Nobody offers much credence to those guys and gals. Rather they are just maligned or -worse- ignored. Then when the inevitable and predictable occurs we are told that the current crises and tragedies are unprecedented and therefore nobody could have seen them coming. This is of course not true . . . and those with the video evidence to counter that mendacity put it out on the internet in the hopes that some people somewhere will see that the rules of supply/demand cannot be violated and that if we trust the same politicians and economists who got us into this mess will only make it worse by perusing the exact policies that fomented the crash in the first place. Of course this becomes a difficult position to maintain. Especially when nobody in the normal media will challenge the politicians who claim they saw the crises coming and worked hard to avert it while at the same time still maintaining that nobody could have seen the crisis coming and so it could not have been avoided. Case in point Barney Frank. One of the chief architects of the rotten sub-prime ponzi scheme that crashed an entire economy after first pumping it up through forcing banks to offer loans to those who could not pay them back . . . which artificially inflated home values for a time and made his friends and lovers rich in the process. Now Frank contends that he warned and warned and warned and worked and worked and worked to avoid this train wreck. BS. Enjoy the video of him before the collapse of the housing industry mocking those who would dare suggest that this bubble was bound to burst.