Wednesday, November 18, 2009

What flavors?

Was Obama’s trip to China a failure? Well, he didn’t give anybody a public back rub or throw up on the prime minister. However, the Chinese President ignored everything Obama said in their joint press conference, where the Chinese refused to take questions. In his half of the press event President Hu lectured Obama on America’s unacceptable weak Dollar policy. He went on to complain about Obama having put huge tariffs of 40% on tires and 99% on pipe that China was dumping into the US market to eliminate US producers.

Obama let the Chinese have things their own way in public and indeed he said many things to build up their stature (face is a very important thing to the Chinese). The question is did he get anything back in private? Obama came out today and warned we could have a double dip recession if government deficits are not brought under control. He knows there is no practical way to balance the budget given the mess the Republicans left behind. The Chinese complain constantly about all our deficit spending, so is he just telling them what they want to hear? Or taking orders from our masters?

Maybe he has made a deal with China to allow us to rebuild without China interfering. What is required is a total restructuring of the economy from the rebuilding of the manufacturing base to a realignment of our currency and the elimination of the debt (not repayment). Throw in a complete breakup of all the monopolistic corporations and a roll back of the Reagan tax cuts and we could become an emerging economy instead of plunging deeper into the third world.

Is Obama preparing the ground for a New Deal reform program and maybe a trade war with China? Or is he preparing us for the final transfer of power to the corporate elite? Obama is warning about a double dip Recession if we spend more money on the recovery. We’re still going down the first dip. Either way things are going to get bad, but will they get better again? Asking, what flavors on your double dip?


Ed Encho said...

No double dip recession because we have never actually ended the original 'recession', the numbers are now and have been cooked to a fine fricasse by a thoroughly corrupt government that is a puppet to Wall Street finance overlords and delivered to the TV addicted morons on the planet's largest lemming farm by a bought and paid for propaganda machine media.

If you recall back last March or so when Wall Street plunderers were under withering attack, Mad Money Cramer was being vilified and the AIG execs were fearing for their lives there was a financial equivalent of the great General Petraeus flim flam SURGE with Helicopter Ben Bernanke's GREEN SHOOTS. It all started with a 'leaked' internal memo by Vikram 'the Bandit' Pandit of Citi that his temple of avarice and usury was in much better shape than was reported.

The corporatists then took the ball and ran with it, relentlessly hyping the health of the big banks which were only being propped up by the fleecing of taxpayers at the expense of any real economic recovery programs. The Geithner stress tests were a fraud and the key was the hush hush changing of FASB's mark to market rules allowing the big Wall Street banks to keep their worthless toilet paper mortgage backed assets on their books at full 'value'.

Since then the stock market has been churned and will go TO THE MOON ALICE yet corporations are still cutting jobs, dumping four times the work (if you are lucky) on the remaining employees to jack up productivity and the shills are still hyping the Ponzi scheme.

Problem is that it's all a lie, a grandscale game of 3 Card Monte being played out on Main Street in a Potemkin village. Sooner or later it's all going to come down too. The Obama administration has screwed us all by continuing to manipulate the economy to book fake profits for Wall Street while at least in my city of residence there are more and more homeless, empty stores and foreclosed homes.

It's all an illusion man. It's like that old Stephen King story where the dude is marooned on a desert island and has to amputate parts of his own body to eat in order to stay alive.

And when the shit all collapses the vicious swine teabaggers, the Beckers and the Palinazis along with the crazed Raptureheads and Christian Dominionists are going to be ready to rile and will then be unleashed to engage in pogroms against the hated libruls [sic] and their Muslim president who have ruined America.

Let's hope that during his visit to our Chinese debt holders that the Pope of Hope is also making deals for Chinese military intervention to beat back the fascists when the whole thing does come down.

Just my two cents


ps: keep up the great work, your blog is fresh, there is so little originality out there anymore as so many of the progressives are being coopted by the establishment.

SanMigMike said...

I've felt this way for some time...the basics of our economy suck (not sure that is a professional term for economists but I'm a pilot and that is a term used by pro pilots).

I think we are past the point of any hope in the foreseeable future. The crooks that have us in this mess are still making money and have no interest in America as a first world county.

Given that they and their "running dogs" in Congress and the other parts of our government assume that they will be the ones living in the walled estates and being able to have more "slave" servants since there will be no real choice in employment except for a handful of jobs as their guards and lackeys. I's also guess that they will be smart enough to use the military as their guards so that we get taxed to pay the people that protect the bums that oppress the rest of us scum.

We are a third world country, we export raw materials rather than add value to them. We treat our citizens as garbage to be taxed, used and thrown away for the benefit of a handful.

The only time that change will come is when the system is so broken that there is no choice and nothing left for them to steal.

The average American is sure that America is Number ONE in everything when they stop to think about it between sucking up junk food and sucking up junk news and other TV garbage. There is no real hope of Americans waking up and as we can see the present administration is not too unlike Bill Clinton, just Republican lite, just lite enough to enrage the Republicans but still give the corporations what ever they paid for.