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The Pentagong Show

The Pentagong Show
United State of Terror: Is Drone War Fair?

Tuesday, August 4, 2009

Mr. Obama ....Tear Down this Wall St!

After seeing "Some Assembly Required"'s ( question asking, "Where did the money actually come from, if not from some poor guy on a production line, oil rig, drag line or tractor?", it was a plus to see Paul Krugman write at the end of his last op-ed piece: "Neither the administration, nor our political system in general, is ready to face up to the fact that we’ve become a society in which the big bucks go to bad actors, a society that lavishly rewards those who make us poorer."

Could it be that people are finally beginning to understand the scope of the betrayal and theft that's been perpetrated on us by a renegade, smug oligarchy of criminals with access to the highest echelons of the Federal government? Having read Joe Nocera's Sunday NYT column in which he cringingly grovels at the feet of high finance for having "saved us" from financial collapse, a collapse that they engineered, profited from, and the rubble of which they are unapologetically using to set the stage for the next debacle, siphoning yet another generation's savings into their bank accounts (hidden and stashed away in off-shore accounts), it seemed as though the nation had simply accepted their new state of utter impoverishment and conceded to banksters their freedom to confiscate every nickel the working class has ever saved, and call it "Earnings".

But in an economy, a nation, where ANYone gets paid less than 12 grand a year and the President of the country gets paid less than half a mill, the very idea that these charlatans who actually despise anything approaching real labor, have their billions of dollars of booty, gleaned from looting the economy, referred to as "earnings", there is something rotten to the very core.

And the rot has corroded the very foundation of the economy to such an extent that it gives the lie to any V, W, U, L, or sigmoid shape they wish to call this recession, and reveals it as the depression-sized event it truly is. But not for them....Goldman Sacks America precisely because they consider themselves above the State. The government is only there to serve their needs and keep the citizenry in line. As the Reagan government used the Church of Islam to further its Realpolitikal agenda in the Middle East and fight its fight against the godless commies, and then discarded them like a used tissue when they were no longer needed, so Goldman Sacks America has segued Capitalism to Capitolism, using jingoistic cries for "Freedom" whilst enslaving the polity in inescapable, unpayable debt, with the government as its armed deputized lackey.

But the "resilience" of an economy in which the output of more than 300 million souls is siphoned into the pockets of a few score of depraved megalomaniacs, each vieing for the position of Master of the Universe, was only as elastic as the wealth it had accumulated. Once that had been plundered, from pension plans (well, what they thought were their pensions) and used to build an entire economy of peasant workers a continent away, completely terrorized by their own government, where it was free to foul the air and poison the rivers, Capitolism needed a source of suckers to buy the goods the newly "productive" slave labor was churning out ... and Washington was happy to oblige.

As Benron Bernanke was so kind to explain last week, the Fed is free from the influence of Congress or the wishes of the majority, but, as befits a Capitolist economy, it is not free from Executive pressure or Wall St. machinations. Thus we had a Fed Chairman, Greedspan, cheerleading the extraction of equity built up over a lifetime in people's houses, and being "monetized" for the enrichment of his cohorts on the street while he kept interest rates at such a low level that this newly available cash was called "free money". Thus did Capitolism deliver to the free-for-all market the proceeds from the sweat of the brow "from some poor guy on a production line, oil rig, drag line or tractor", i.e., from the productive economy, into the pick-pockets of the band of ransacking, charlatans of the unproductive, government-supported, smarmy, human debris that make up stoneWall St.

....Mr. Obama.....tear down this Wall St.
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