Wednesday, November 28, 2012
Fiscal Phantoms, The Myth of the Fiscal Cliff, & Other Political Skullduggery
President’s Obama’s parasitic Bankers remind me Richard Nixion’s White House Plumbers. A group of modern day highwaymen, so single minded in advancing Nixion’s political fortunes, that no form of skullduggery was beneath them. But at least the Plumbers were committed to Nixon. Obama’s parasitic bankers are singularly committed to increasing the wealth of the One Percent at the expense of every one else, especially the poor and the working class, because they're the most defenseless.
This is why they’re allowing the Republi-creatures and the corporate lobbyist muscle, to frame the debate about the myth of the fiscal cliff, in the same way they peddled wolf tickets to the Publius that if “we” didn’t bail out the Multi National Banking Conglomerates, they would stop lending, effectively cutting off the money supply to America. We never asked why the smaller banks and credit unions, if backed by the Fed Reserve bank(s) could not fill this role quickly. We just opened the public spigot, pouring trillions of tax payer dollars into them and we are still ruined. Yet, their wealth has been vastly increased and they continue to destroy our country by not only failing to extended enough credit to lift the economy, but doing the same short term “grab the cash & dash” by investing in the very financial shell games, three-card –monte hustles, and ponzi schemes, that collapsed our economy in the first place.
Our political handlers, using the same "Leibnizian Optimism", ridiculed by Voltaire's character "Candide"in 1762, tell us had we not bailed out the banks, It could have and would have been worse.
We don’t question our “betters”, so we don’t require detailed explanations, let along explanations in plain english.
President Obama has been reelected, and it's back to business for them. With massive and unprecedented unemployment and poverty in this country, they’re now calling for drastic social service cuts, least China and other foreign interests, supposedly fearful of their investments, show up at the “American Pay Window” demanding full payment, similar to what happened to Greece. What they're not saying is Greece, as part of the European Union doesn’t control it’s own currency. America does, so in the extremely minuet chance that China did demand payment, we would just print up what we owe them, which they know.
The Republi-creatures, as always, falls back on the inflation argument. But we are in a depression- at least. So a weaken dollar would help rejuvenate our economy. American goods would become more desirable to foreigner consumers, creating jobs and lifting wages. And frankly, if the banks are not making loans, then they’re the only ones who benefit from lower interest rates. They're able to borrow, (at an even cheaper “window"rates than we receive ) which they reinvest in ways that do not help the economy. Meanwhile all the public gets is junk pensions and pathetic c.d.s rates.
Pulitzer Prize winning author and Professor of Economic at Princeton University Dr. Paul Krugman, provides a more detailed analysis in his OP-ED entitled "Fighting Fiscal Phantoms", published in the Nov. 25, 2012 edition of The New York Times.
The sad thing is that Paul Krugman will never be appointed by President Obama to any position let alone Treasury Secretary. And a budget deal is in the works. Senator Dick Durban, called on "fellow progressives not to fight", but to support a budget deal that includes major cuts to entitlements and social programs. Durbin said, “We can't be so naive to believe that just taxing the rich will solve our problems. Put everything on the table. Repeat. Everything on the table.”
It seems that the next four years will be like the last. While there will be political co-option and shallow pacification, targeted toward the white liberal and tiny Black elite, there will be no critically needed efforts to restructure our government that continues to fund and protect a mammoth mechanism created 40 years ago that continues to constrict the flow of necessary political information, communication, and cooperations between the poor and working class, while draining our wealth and redistributing it, to the One Percent.
Yes, I'm worried,