Ruling on Behalf of Wall Street's "Super Rich": The Financial End Time has Arrived (tags)
"Alas, the Obama administration has backed the Geithner-Bernanke policy that “the economy” cannot recover without saving the debt overhead. The reality is that it is the debt overhead that is destroying the economy. So we are dealing with the irreconcilable fact that the Obama position threatens to lower living standards from 10% to 20% over the coming few years – making the United States look more like Greece, Ireland and Latvia than what was promised in the last presidential election. Something has to give politically if the economy is to change course. More to the point, what has to give is favoritism for Wall Street at the expense of the economy at large. What has made the U.S. economy uncompetitive is primarily the degree to which debt service has been built into the cost of living and doing business. Post-classical “junk economics” treats interest and fees as payment for the “service” for providing credit. But interest (like economic rent and monopoly price extraction) is a transfer payment to bankers with the privilege of credit creation. The beneficiaries of providing tax favoritism for debt are the super-rich at the top of the economic pyramid – the 2% whom Mr. Obama’s tax giveaway will benefit by over $700 billion. If the present direction of tax “reform” is not reversed, Mr. Obama will shed crocodile tears for the middle class as he sponsors the Deficit Reduction Commission’s program of cutting back Social Security and revenue sharing to save states and cities from defaulting on their pensions. One third of U.S. real estate already is reported to have sunk into negative equity, squeezing state and local tax collection, forcing a choice to be made between bankruptcy, debt default, or shifting the losses onto the shoulders of labor, off those of the wealthy creditor layer of the economy responsible for loading it down with debt."
Pentagon NMCC director WINFIELD (CFR)asks substitute,9-10,to stand his watch 9-11,@8:30am (tags)
9-11 PLANNER: Brigadier General Montague Winfield "It's just too dangerous, you know, to risk myself, after planning this state terror attack. Yes, it's tomorrorow. Can you stand in for me during the Pentagon hit? Besides you're a rookie, and we want as much confusion as possible when the Bush family's drug dealing military corporate financier mafia takes over the whole damn U.S.A. on 9-11. You will, thanks. What a pal!" "I agreed and relieved Brigadier General Winfield at 0830 on 11 September 2001." [just as first WTC1 hit terror strike going toward NYC.]
Jobs Go Bye-Bye Under Bush (tags)
Another fine example of the ecomomic policies of the cheap labor conservatives.