Chapter 4 Perpetuating The 2008-2011 Financial Meltdown Myth

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Chapter 4 Perpetuating The 2008-2011 Financial Meltdown Myth

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Prof. Jackson disgraced himself with Chapter 4 of The Human Network!

Chapter 4 purports to explain how something that is not true happened!

The popular myth, of course, is that the 2008-2011 financial meltdown was caused by subprime mortgages.

As we proved, the meltdown was actually caused by Congress permitting $4 to $5 trillion of supposedly “off shore” funds to be repatriated to U.S. based multinational companies from their tax haven subsidiaries at a special one-time 5.25% corporate tax rate instead of the normal 35% rate.

The $4 to $5 trillion that had piled up in the tax haven subsidiaries comprised the profits of the U.S. based multinational companies from exporting American jobs.

What Congress was not smart enough to find out (or did not want to know because they were more interested in the campaign contributions of the U.S. based multinational companies) is that the $4 to $5 trillion was not really “off shore” but had long since been loaned by the tax haven subsidiaries to the “chump” American companies that had not exported American jobs.

Accordingly, Congress’s special 5.25% rate caused the tax haven subsidiaries to force the “chump” American companies to reduce American payroll and capital expenditures by $4 to $5 trillion in order to repay the tax haven subsidiaries.

This was confirmed by the U.S. Federal Reserve complaining loudly and often that the “chump” American companies were in desperate need of loans which were not available.

So, of course, if Congress was going to require the “chump” American companies to throw 10% of America’s workers out of their jobs, their homes would be foreclosed because there were no new hires to buy their homes.

This would have happened whether or not there had ever been any subprime mortgages.

This was documented most recently at viewtopic.php?f=23&t=1685&sid=4eb4cccc5 ... 1cb2a4243c which contains a sample of our 12/26/2017 four-page letters to the Presidents of each of the 12 Regional Federal Reserve Banks in order to (A) tutor the 12 Regional Federal Reserve Presidents about the true cause of the 2008-2011 economic meltdown, (B) educate the 12 Presidents that the same thing was about to happen all over again because another $4 to $5 trillion had piled up since the 2008-2011 meltdown in the tax haven subsidiaries from exporting American jobs and Congress had eliminated the tax on such profits beginning 1/1/2018, (C) point out to the 12 Presidents that their Regional Federal Reserve Banks have the authority under such circumstances to make the replacement loans to the “chump” American companies, and (D) put the 12 Presidents on notice that they would be derelict in their duty if, armed with this knowledge, they permitted another economic meltdown comparable to 2008-2011.

The proof was in the pudding!

American did not experience another economic meltdown!

And John Karls was polite in refraining from pointing out in his Short Quizzes and in the Suggested Discussion Outline how Prof. Matthew Jackson spent an entire Chapter in The Human Network perpetuating a myth.

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