The Dictator

19 October 2008

How do you like it so far? The financial dictatorship, that is. At least the dictator, Hank Paulson, looks like a real dictator. Right out of central casting, a tall white skinhead with an arrogant demeanor. Just the kind of guy Batman is supposed to come and save us from. But Hank has something even Lex Luthor never dreamed possible; a blank check from Uncle Sam to do whatever he wants, with no oversight, no accountability, and no review. Recall that the seven hundred billion dollar bailout absolutely must pass or there would be martial law. It was needed to buy bad loans from failing banks in order to save the world. But just as soon as it was passed Hank decided to give the money to banks that were in good shape, in essence partially nationalizing the banking system. It gives a whole new meaning to First National Bank. Then we learn that one hundred billion is going to pay "discretionary bonuses" to these very same fat cats.

Weren't we told back in Reagan's day that government should just get out of the way and let the free market be free? Weren't we told that government was the problem? Now we are told that the government has to step in and fix the problem. You could get kind of confused if you believed what you were told. The free market was a good thing while it was transferring wealth from the many to the few elites. As long as million dollar bonuses were flowing and the Gulfstreams were flying everything was as it should be. But when the tide turned then the government had to step in and do the transfers directly. The camouflage of the "free market" is no longer useful or necessary. I wonder if KBR has those detention centers built yet.

• teosinte @ 08:42 

  Funny money

  5 October 2008

  It took a little longer than I'd expected. After all, it's an election year and a few congress critters had to puff and posture like a lek of booming sage grouse for the voters back home. But the outcome was never in doubt. Over 99.9% of the voters could have been 100% against the bailout and it still would have passed because that 0.1% wanted it to. That's how an oligarchy works. Don't worry, though. It's not real money. Nobody's taxes will go up and there will be no repayment plan. Instead, the debt ceiling will go up over eleven trillion dollars and Uncle Sammy will borrow funny money from our competitors. They're in the game to win and so are the American Oligarchs. It's the American people, that's you and me, who will be sold into indentured servitude. All this so-called bailout does is transfer another huge chunk of money to the already filthy rich and bring the house of cards a little closer to collapse. Some time soon the creditors will declare the U.S. Government to be insolvent. So what happens next? God only knows. Likely the looting of the treasury by the oligarchy will begin in earnest. There will be a little bit of chaos for ordinary folks. Lots of people will be sleeping in their cars. Banks will fold and meld into one another. They might even close for awhile then reopen in different forms. I expect we'll have martial law for awhile if for no other reason than just because everyone believes it's coming and is necessary. There will be physical shortages of commodities such as food and fuel, even if the price doesn't go up. Already Atlanta and elsewhere in the southeast have experienced gasoline shortages. It just didn't make the evening news because watching Sarah Barracuda take a bite out of Joe was more entertaining. Besides, O.J. is finally checking into the Gray Bar Hotel. What could possibly be more important than that? People ask me what they should do. Where should they put their money? What should they invest in? My advice: wheat, beans, and ammunition.

  • teosinte @ 15:57 
    This Site Served by L&P Publishing

    9964

    20080704