Apparently the blogosphere has given up the so-called ‘recovery’ as a bad job, as noted by the resumption of calling the current financial crisis ‘The Great Recession’, which, truth be told, is far more severe than its, er, ‘predecessor’, The Great Depression.
Worse, the incumbent administration makes the Hoover administration look like a dynamo by comparison! As has been lamented many times, this guy is no FDR!
If we were to put this in perspective, it’s ‘too late’ for words, the only thing that can save our collective asses now are deeds! (Starting with widespread prosecutions for crimes against society!)
How sad is it that no ‘consensus’ exists as to what needs to be done?
More chilling is how many, er, ‘mis-informed’ people will lay down their lives defending a system that preys upon them… a system perceived by many Christians to be ‘god given’ (like God would condone the way capitalists/politicians treat their ‘employees/customers’.)
Still, we can’t ‘escape’ because nobody knows what direction to lead the charge in! Ironically, the answer to that question is staggering. The ‘new broom’ would have to sweep up all past and present politicians/corporate chiefs, but were left wondering what is an ‘appropriate punishment’ for destroying civilization itself?
Something all past and present ‘leaders’ would protest that civilization is not ‘destroyed’…but it was precisely this kind of quibbling that got us here in the first place!
Just because collapse has not yet occurred doesn’t mean it’s not eminent! You can’t bust a society down into 20% ‘haves’ and 80% ‘have-nots’. Just because this ‘works’ in Banana Republics doesn’t mean it will work here. They have to sleep sometime.
Anyway, let us proceed to tonight’s offering for a look at a ‘typical’ post in the wake of Friday’s ‘puffed up’ employment numbers…
The Great Recession
Employment figures clearly show that this is much more than a cyclical recession. It is the breaking of an historic credit bubble, made worse by the Fed's policy responses and recommendations on banking regulation since 1994.
You cannot kick-start something that is broken. So any stimulus to the economy or subsidies to the banks are essentially wasted, unless the system is significantly reformed. Worse than wasted really, because it robs future governments to engage in constructive action. Like a third world country, the pigmen are at the trucks stealing the aid for the public and hoarding it. [This is a very apt analogy!]
If you look closely at the chart below, you will see that if you subtract the temporary government hiring for the Census, there is no recovery in employment. It is flat. With all the trillions spent so far, why is there such a weak response?
Stimulus. Reform. What we have seen so far from the Congress, the Fed, and Wall Street is simply white collar looting in a crisis which they caused.
“Many people believe Goldman Sachs, which goes around the Chinese market slurping gold and sucking silver, may have, using all kinds of deals, created even bigger losses for Chinese companies and investors than it did with its fraudulent actions in the US.” China Youth Daily
As I have pointed to repeatedly, the current crisis is no ‘accident’ nor is it the end result of ‘incompetence’. What we have here is a viscous plot to take advantage a captive government so thieves can plunder the treasury and escape prosecution!
This is highly ‘counter-intuitive’ unless a hitting of the ‘reset button’ is the desired end result.
Left unspoken is what ‘conditions’ will be placed upon this planned ‘reset’? Will it restore debtor prisons as a thinly disguised way of legitimizing slavery?
At what price does the ‘looting’ of civilization come? As matters stand, it’s looking like the end result will be a state of perpetual war. A war of the tyrannical ‘haves’ against the multitude of ‘have nots’.
What remains to be seen is how vigorously ‘freedom’ will be defended? (Especially after the masses are informed that they don’t ‘deserve’ freedom!)
Thanks for letting me inside your head,
Gegner
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