26 Jul

I’m not sure why Obama has signed onto the plan to ruin the American economy once and for all – I only know that he has.  So have many Democrats and all the Republicans.  The teabagger Republicans are a particularly ruthless sub-species of Republican, who would like to see a really violent and spectacular crash with lots of blood and body parts flying about.  It’s an odd thing for a group which started with the idea of holding the Wall Street mafia accountable and ending bank bailouts to reach the place where they are calling for the deaths of the less well-to-do, but hitching your horse to the Koch Brothers will do that.  “Make no mistake”, as the President likes to say, your leaders are crashing this country and the end result will be death for the elderly, the poor, the young.  A complete and dramatic increase in job losses.  An increase in police state tactics.  Hunger.  Soaring food prices and energy costs.

I have a theory that we are seeing the splitting of the human DNA.  The original group had some empathy and some sense of taking care of the vulnerable.  The desire to see many do well, with a grand variety of career options.  The new group is driven by only one impulse: the desire to own everything in the world.  That’s it.  That is their entire point of view.  They should have all the stuff.  They have no souls.  We have forever had this gene pool, but until now, they were not tolerated for very long and were weeded out; sometimes through the use of civil laws and sometimes with violence.  Now, however, there are many of them – they have multiplied – and they are not being challenged.  These things are running our country now.  We let them multiply and now they rule.

How stupid do you have to be to believe that withholding medicine and retirement funds from old people, or ending educational programs, gutting environmental regulations, stopping unemployment benefits for those who simply cannot find the non-existent jobs, will somehow solve the budget issues?   All it will do is erode the economy further and make it less likely to bounce back.  Impoverish the nation’s people and you have no income to tax to do anything with.  (Not even to run your goddamn wars, Washington.)  In the end, you will drive society so deeply into poverty that you cease to even have a people.  How stupid do you have to be to think that giving all the wealth and tangible assets to a few individuals will do anything but, uh, give all the stuff to a few individuals?

It turns out that the people in charge, of the golem DNA, want you to be that stupid.  They know what they are doing.  They hope you don’t.   They are ruthless.  They are winning.  No, strike that.  They have won.  When you see the entire governing bodies of every country deliberately acting in unison to destroy economies and societies across the globe, with so little outrage aimed back at them, they have won.  And in particular, so little concern from the masses here in the States, the point of origin for most of the destruction forces.

Here is an excerpt from the latest tomdispatch; a small essay written by Mike Davis, called “Crash Club”.  Please take the time to read the original in its entirety.  He gets into much more detail about the financial issues in China than I am including here.

…From three directions, the United States, the European Union, and China are blindly speeding toward the same intersection.  The question is: Will anyone survive to attend the prom?

Shaking the Three Pillars of McWorld

Let me reprise the obvious, but seldom discussed. Even if debt-limit doomsday is averted, Obama has already hocked the farm and sold the kids. With breathtaking contempt for the liberal wing of his own party, he’s offered to put the sacrosanct remnant of the New Deal safety net on the auction bloc to appease a hypothetical “center” and win reelection at any price.  (Dick Nixon, old socialist, where are you now that we need you?)

As a result, like the Phoenicians in the Bible, we’ll sacrifice our children (and their schoolteachers) to Moloch, now called Deficit.  The bloodbath in the public sector, together with an abrupt shutoff of unemployment benefits, will negatively multiply through the demand side of the economy until joblessness is in teenage digits and Lady Gaga is singing “Brother, Can You Spare a Dime?”

Lest we forget, we also live in a globalized economy where Americans are consumers of the last resort and the dollar is still the safe haven for the planet’s hoarded surplus value.  The new recession that the Republicans are engineering with such impunity will instantly put into doubt all three pillars of McWorld, each already shakier than generally imagined: American consumption, European stability, and Chinese growth.

Across the Atlantic, the European Union is demonstrating that it is exclusively a union of big banks and mega-creditors, grimly determined to make the Greeks sell off the Parthenon and the Irish emigrate to Australia.  One doesn’t have to be a Keynesian to know that, should this happen, the winds will only blow colder thereafter.  (If German jobs have so far been saved, it is only because China and the other BRICs — Brazil, Russia, and India — have been buying so many machine tools and Mercedes.)

Boardwalk Empire Times 160

China, of course, now props up the world, but the question is: For how much longer?  Officially, the People’s Republic of China is in the midst of an epochal transition from an export-based to a consumer-based economy…

Unfortunately for the Chinese, and possibly the world, that country’s planned consumer boom is quickly morphing into a dangerous real-estate bubble. …

In effect, a shadow banking system has arisen with big banks moving loans off their balance sheets into phony trust companies and thus evading official caps on total lending…

As the three great economic blocs accelerate toward synchronized depression, I find that I’m no longer as thrilled as I was at 14 by the prospect of a classic Felsen ending — all tangled metal and young bodies.


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