September 23, 2008
Disingenuous or an outright lie?
If McCain has such great ideas for fixing this mess, why didn't he push them through congress ten years ago instead of rubber stamping each Paulson-Bernanke backed liberalization plan their lobbyists were able to sell?
I've actually been vacillating the past couple of months, but the bald-faced deception behind his current attacks on Obama and his sudden "enlightenment" on economic matters is just too mind-numbing to accept. I'm firmly back in the Obama camp.
They need to let these institutions fail while simultaneously making sure that their assets don't wind up in foreign hands. The Federal Government is almost ten trillion dollars in debt! Where are they supposed to get nearly another trillion? They would have to print unbacked, unsecured money leading directly to massive inflation which will only help the bankers even more while destroying the livelihood of everyone else.
Recession and economic decline is hard for everyone, but it is even harder on the banks. Hyperinflation is even harder on the rest of us, but the banks can turn it into massive profits. Under Paulson's plan the only people who will benefit are the people (like McCain's wife!) who made a fortune off of the deluded idea that letting investment bankers and high-dollar speculators have free rein by removing the legal limits on their activities would somehow magically create a stronger economy. The truly sad thing is, if they had taken those profits and poured them into American manufacturing, transportation, and distribution industries, then it would have helped immeasurably and the American economy would be stronger than ever. But that is not what they did. They took those massive profits and invested them in "development" of financial and resort centers in Oman, Abu Dhabi, Dubai, and other oil-rich nations. They used their immoral and destructive profits to make more people like themselves in countries that were already disgustingly rich with American dollars from oil sales.
If they had invested in factories and markets in South Lebanon, the Gaza Strip, the East Bank, and other Palestinian "refugee camps" that have become sprawling modern cities then I might bit a tiny bit more forgiving. At least then the businesses they built would have taken the wind out of the sails of groups like Hamas and Hezoballah. Instead, they gave the money to people who didn't need it, their buddies the oil sheiks and oil-rich royalty of tiny nations with no interest in solving the problems of their region.
McCain might have been an American hero when he was young, but his wife has given him a taste of the good life and he likes it. Now he is fully on the side of the people who live to enrich themselves, impoverish the rest of us, and who hope to have a One World Kingdom of feudal land-based royalty with free rein to treat the rest of us like animals. McCain has spent more than a quarter-century in congress! Over the past 26 years what has congress done? It has made the banking families rich, destroyed the American middle class, used development loans to build resorts for oil sheiks, funded repeated wars of attrition that serve no purpose other than funneling money to families who own defense industries, and spent billions on development of weapons and weapon systems while training terrorists and warlords how to use them.
McCain's congressional record is not a benefit, it is a blemish, and his disingenuous plan to suddenly "rescue" the economy he helped destroy is condescending and deceptive.
So, I go to lunch, run my errands, get the house cleaned, turn my computer back on and find this:
New Freddie Mac Chief's Base Annual Salary $900,000
Why? No one on earth needs a base salary of nearly a million dollars a year, let alone the chief executive of a financial company that failed. What in the name of all that is good and holy are you people doing over there?
Oh, and now Karl Denninger, an atheist former CEO and economic commentator, weighed in with something that sounds an awful lot like Revelation 6:5.
Gah! And now my sister sends me this! I cannot catch a break today. The end is not "near". The end is here and now!
Presidential Executive Order authorizes seizure of war protestor assets