Wednesday, April 1, 2009

Lie down and rot

An ugly mob broke through police lines in London today and stormed the Royal Bank of Scotland. The US corporate media actually said that what motivated the protesters was that they want to do away with money. (aren’t they just crazy? {he says in a cynical tone}) Yeah right; the Royal Bank of Scotland has already done away with their money since Great Britain went just as crazy with deregulation as the US. Could it be the protesters in Europe take all this much more seriously than do Americans because they still have a collective memory of what can happen when you let a great depression get out of hand?

Obama said something significant today, but just what it foretells about his policies isn’t so clear. He said that the rest of the world should not expect the US to return to being a "voracious consumer market" driving the world economy and that they need to develop their own markets. He also said the US would not be returning to the trade and budget deficits of the past decade.

There are only two ways to achieve zero trade deficits and a balanced budget. Either a return to a manufacturing economy of our own or lower the standard of living to that of a lower tier third world country. If Obama is planning to rebuild our manufacturing base he is keeping it to himself. He keeps using phrases like "Americans have overspent and borrowed too much" and "America doesn't need the jobs that have been out-sourced ". The kind of things you would expect to hear from the Wall Street bankers that are advising him.

Rather Obama should know the economic reality is that Americans have been underpaid and the "company store" lent them money until payday at usurious rates. The Reagan/Greenspan policy was of controlling "wage inflation" by union busting, out-sourcing and the importing of millions of low-paid workers. Then they created trillions in debt to keep up demand for goods lest anybody notice the economy had been destroyed.

It’s not Capitalism that is a walking corpse, it’s doing very well for the Capitalists. It is the entire Middle Class that has become zombies; lurching from paycheck to paycheck; unaware that they are expected to lie down and rot away.

You can go to and vote in tonight’s poll "where will we be in ten years?" the leading answer so far is "chasing our food with a stick" with 59% of the votes.


crabby08 said...

I'm struggle in trying to understand what you are saying, it's not easy. You're deep..Prairie 2.

Ronmac said...

The only place that seems to have escaped this crazed wave of bank deregulation is my own country, Canada. Cdn Prime Minister Stephen Harper has been making the rounds in the U.S. media the last little while pointing out this fact. An economist by training he has all the charm and charisma of a small town undertaker. But you get the sense that if Steve was in charge of things we wouldn't be in such bad shape.

Anonymous said...

today I spoke to a couple of people and told them this: "I think we are going to see world-wide revolt and revolution and unbelievable carnage, rioting, and a great deal of death and destruction in the attempts to quell the rioting", and added; "to this, expect easily five or more years of protracted financial malaise, and incomprehensible poverty and homelessness beyond your wildest nightmares, before this looting and pillaging is finally extinguished or ended.."

the response, believe it or not, was wide-eyed disbelief, until one woman spoke up sheepishly and asked me; "why do you want it to be this way?"

my reply, after looking into her eyes and seeing the fear in them, was this simple: "you know, I truly hope I'm wrong about this, and that just by magic someone whisks us all into the future, if there IS A FUTURE, ten, maybe fifteen years, and we are all a bit older but nonetheless not much worse for the wear, clinking wine glasses and talking about how this whole mess was bad, but it wasn't THAT BAD.."

she began to cry. I felt horrible. A couple of the men in the group said; "you're an made her cry.."

I looked at them and said, before I turned and left the shop; "I think you all better go home and have a very good look in the mirror before you call me the asshole, none of us is 'guilt free' in this, in that we have all been way too tolerant of the rampant corruption and greed for too very many years, hell, some of you told me earlier you seldom if ever voted, until recently...and I was amongst those who did not vote myself.."

needless to say, I took no pleasure in bursting their bubbles for them. We are in for one nasty, nasty, very ugly ride we didn't buy the ticket intentionally for, and that's for damned sure...