Thursday, February 05, 2009
Help!
We -- the population of the earth -- are just waiting for something to happen. It's happening. We are being fucked.
A few basic points:
1) The stimulus bill is a hodge-podge, currently being watered-down, and not sufficient.
2) Far more importantly, the new "bailout"/"solution" to the financial meltdown being plotted by Geithner/Summers/Rubin is more of Paulson. And Paulson was more of Summers/Rubin. Summers/Rubin -- under Clinton -- were the ones who started this most recent, most toxic cycle of legal fraud. Clinton, not Bush One, and not Reagan, either. Clinton's economic "gurus" had the bright idea of trying to run an economy on inflated stock prices, on the assumption that as long as everyone (i.e., "rich" people) thought they had money, they would spend it, and there would be an "economy," even though U.S. business was not actually selling products for profit. The current "bad bank bailout" is more of the same demented bullshit: the gov't pays full price for worthless shit, and the shit is supposed to gain value for that very reason. And in any case no economist believes that this "purchase" will make any of the banks solvent -- for the basic reason that no one knows what is actually held in the banks, because their "holdings" are too "leveraged" -- i.e., they are fictional.
3) The economy is going to continue to go through the floor. Obama can't stop it, and doesn't seem to be aware what the problems are.
4) The Republicans are going to be on record as being "against" all of Obama's "plans." It doesn't matter in the least that the Republican "opposition" has amounted to the delirious raving of a brain-damaged infant. They will be on record as having been against, and they will get credit when Obama et al. fail, as they inevitably will. (They already have.)
5) Republicans will have access, in the next year or two, as Obama's failure becomes more evident, to their inexhaustible reservoir of ways to exploit ignorant resentment: xenophobia, fear, hatred, etc. And soon enough they will be obliged by -- what else? -- a catastrophic terrorist attack.
Knowledge to be had here.
System failure. Finis.
posted by speakingcorpse : 2/05/2009 12:23:00 PM
A few basic points:
1) The stimulus bill is a hodge-podge, currently being watered-down, and not sufficient.
2) Far more importantly, the new "bailout"/"solution" to the financial meltdown being plotted by Geithner/Summers/Rubin is more of Paulson. And Paulson was more of Summers/Rubin. Summers/Rubin -- under Clinton -- were the ones who started this most recent, most toxic cycle of legal fraud. Clinton, not Bush One, and not Reagan, either. Clinton's economic "gurus" had the bright idea of trying to run an economy on inflated stock prices, on the assumption that as long as everyone (i.e., "rich" people) thought they had money, they would spend it, and there would be an "economy," even though U.S. business was not actually selling products for profit. The current "bad bank bailout" is more of the same demented bullshit: the gov't pays full price for worthless shit, and the shit is supposed to gain value for that very reason. And in any case no economist believes that this "purchase" will make any of the banks solvent -- for the basic reason that no one knows what is actually held in the banks, because their "holdings" are too "leveraged" -- i.e., they are fictional.
3) The economy is going to continue to go through the floor. Obama can't stop it, and doesn't seem to be aware what the problems are.
4) The Republicans are going to be on record as being "against" all of Obama's "plans." It doesn't matter in the least that the Republican "opposition" has amounted to the delirious raving of a brain-damaged infant. They will be on record as having been against, and they will get credit when Obama et al. fail, as they inevitably will. (They already have.)
5) Republicans will have access, in the next year or two, as Obama's failure becomes more evident, to their inexhaustible reservoir of ways to exploit ignorant resentment: xenophobia, fear, hatred, etc. And soon enough they will be obliged by -- what else? -- a catastrophic terrorist attack.
Knowledge to be had here.
System failure. Finis.
posted by speakingcorpse : 2/05/2009 12:23:00 PM
