SOME PUNDIT RECENTLY SAID THAT THE CURRENT CRISIS IS LIKE THE 1980'S...
HELL000... IN THE EARLY 80'S THE PRIME RATE WAS AT 20%...TODAY IT'S MORE LIKE ZERO...!!
AND THERE IN LIES THE PROBLEM WITH THE SO CALLED "STIMULUS PACKAGE"...
THIS IS AN ECONOMY THAT IS IN A FUNK BECAUSE OF "OVER-STIMULATION" NOT...LACK OF CONSUMPTION AND STIMULATION...
PEOPLE ARE BANKRUPT NOT BECAUSE THEY QUIT CONSUMING TOO SOON...BUT BECAUSE THEY OVER BORROWED AND OVER LEVERAGED...
EVERYONE WAS LIVING OFF THE HOME EQUITY ATM...AND THE CREDIT CARDS...
THE CURE FOR OVER STIMULATION CAN NOT BE MORE AND BIGGER STIMULATION...
THE CURE FOR OVER LEVERAGE CAN NOT BE MORE LEVERAGE...AND MORE DEBT...
YET...WE DON'T WANT PEOPLE TO GET PAY INCREASES...BECAUSE BACK IN THE 70'S WE DECIDED THAT THE PROBLEM WAS THE UNIONS AND HIGH WAGES...
SO WE WANT PEOPLE TO HAVE LOWER WAGES...(DAMN THE UAW!) ...AND BORROW AND CONSUME MORE... RIGHT?
LET'S FACE FACTS...THE "AVERAGE AMERICAN" IS A WALMART WORKER WITH A CREDIT CARD THAT IS NEARLY MAXED OUT...AND WHOSE SPOUSE HAS PROBABLY JUST LOST THEIR JOB...
AND THIS NOTION THAT "BI-PARTISENSHIP" IS WORKERS GIVING UP THINGS...SO THE CULT OF THE CEO AND WALL STREET CAN CONTINUE THE LOOTING OF THE LAST 10 YEARS...IS NUTS!
THIS IS NOT THE 1980'S...OR THE 1970'S....THOSE WERE "INDUCED" RECESSIONS CAUSED BY THE FED....
NOR IS THIS THE 1930'S...ALTHOUGH IT IS CLOSE...BECAUSE THIS CRISIS IS BASED ON BUBBLES, DEBT AND WALL STREET GREED...
THE CURRENT SITUATION IS REALLY UNLIKE ANYTHING AMERICANS HAVE EXPERIENCE WITH IN THEIR HISTORY...
YOU SIMPLY MUST START LOOKING AT OTHER NATION'S CRISIS TO FIND ANYTHING COMPARABLE...
ICELAND...? RUSSIA IN THE 90'S... GERMANY IN THE 20'S... FRANCE AFTER THE 1720 SOUTH SEAS BUBBLE...?
SO LETS CUT THE FDR AND HOOVER BULLSHIT...
AMERICA IS NOT IN KANSAS ANYMORE...THIS AIN'T 1932.
THESE ARE STRANGE TIMES... AND FRANKLY I THINK THE ULTIMATE SOLUTION WILL BE TO SCRAP THE ENTIRE SYSTEM...
AND START OVER FROM SCRATCH...
THE US ECONOMY IS A GORDIAN KNOT...THAT CAN NOT BE UNTIED...
WHAT NEEDS TO BE DONE IS TO IMMEDIATELY RESTORE THE: "SOCIAL SAFETY NET"....
YES, THE ONE THAT BILL AND HILLARY DESTROYED WOULD BE A GOOD STARTING POINT...
THEN, WE HAVE TO RECONSTRUCT A "NEW ECONOMY"....AS IF ORDINARY PEOPLE MATTERED....
AND NOT JUST INTERNATIONAL CAPITAL, WALL STREET AND THE CULT OF THE CEO...!!
AND YES, THAT MAY REQUIRE DROPPING THE ORTHODOXY ABOUT FREE TRADE...WHICH IS A FALSE DOCTRINE AND IS STILL CHANTED LIKE A MANTRA...
AND FOR THOSE WHO CRY: BLASPHEMY!!
I SAY SIMPLY THIS....
TELL ME HOW MORE OF THE SAME SOLVES THE US "STRUCTURAL" TRADE DEFICIT WITH CHINA AND THE REST OF THE WORLD...? I DON'T SEE IT...
THE PROOF OF THE PUDDING IS IN THE EATING....NOT IN MERELY CHANTING A MANTRA OR THE SAME BULLSHIT.... OVER AND OVER AND OVER...AS RECEIVED DOCTRINE...
TELL ME NOW...IN DETAIL...AND WITH SPECIFICITY...HOW THE US BALANCE OF TRADE IS RESTORED...
AND NO BULLSHIT THIS TIME...LIKE AMERICANS ARE GOING TO BE THE FUCKIN "BRAINS" OF THE WORLD...BECAUSE WE ARE SO FUCKIN "CREATIVE" AND "FLEXIBLE!!"
PLEASE REMEMBER....THE AMERICAN ASSHOLES HAVE VOTED IN THE MORON DUBYA TWICE!!
SO NO MANTRAS!! AND NO BULLSHIT!!
JUST TELL ME HOW THE TRADE DEFICIT IS FIXED...!!
IF THE ANSWER IS: "IT CAN'T"....?
THEN FREE TRADE AND GLOBALISM ARE TOAST!!
AND WE'LL HAVE TO RE-BUILD THE US ECONOMY FROM THE REMAINS OF WHATEVER IS LEFT...WHEN THE CRISIS FINALLY HITS BOTTOM...
AND RIGHT NOW THAT IS LOOKING LIKE EURO-STYLE SOCIALISM...
BETTER CALL PUTIN AND ASK IF HE HAS ANY OF THOSE ONCE POPULAR LENIN STATUES IN MOTHBALLS...BECAUSE WE MAY NEED ONE...AFTER ALL THE BAILOUTS COMPLETELY "SOCIALIZE" THE ECONOMY...!
