THE PEOPLE vs. THE MONEY

"Of the Money, By the Money, and,  For the Money"?

Let THAT roll off your tongue and see how you like it!

Last night I saw an interview of Paul Volcker by Bill Moyers.  They were discussing the upcoming action in Congress concerning the "Volcker Rule".  Paul told Bill something to the effect that "you can't stop greed". 

The Volcker Rule, to my understanding, is an attempt to restore in part the Glass-Steagall legislation of the 1930's that put in place a "Chinese Wall" between commercial and non-commercial banking.  That regulation has been chipped away over time by the Money Boys in both parties, and finally felled entirely by Clinton.  The absence of Glass-Steagall, with the presence and un-checked power of un-principled and greedy Repoobs produced the biggest hole blown into the floor or our economy in our history.

Now the Repoobs are back in full force to take another run at the economy.  They cite the fact that President Obama, along with Paul Volcker "and all the King's Horses, and all the King's Men" have failed to restore our "Shining City on a Hill" in less than four years!  The Repoobs are "exceptional" of course, standing on the Right side of Christianity, and automatically, forgiven for their sins, no matter how big; therefore its all Obama's fault.  The fact that President Obama and his helpers brought about a 10 point improvement in our economy, patching the hole, in less than two years is supposed to go un-noticed by the voters in the 2012 election.  That's just how stupid the Repoobs and their axe-man Karl think we are.  The successes of the President and the Volcker-led team are totally dismissed by the Repoobs.

But, the Repoobs wail, "what about the debt?".  Well, they should go ask David Stockman that question.  He wrote a book in the early 80's, tattling on his boss, Ronnie; telling the People how the Repoobs planned to starve the government by under-funding it.  Remember "Deficits as far as the eye can see"?  After more than 30 years of that crap, the U.S. economy and the global economy that has emerged in that interim, are in "deep doo-doo".  

 Remember, on"W's" watch, two wars were started, funded on borrowed dollars, AND two massive tax cuts were passed!  Never in our history has any President started one war and failed to allow for paying the costs!  LBJ was naive enough to think we had sufficient revenues for both "guns and butter".  Even if the Repoobs gain control of anything in this election, they will be unable to make things any better.  They won't even keep the economy on the path that President Obama has set.

The Repoobs are going to shove on us the face of Money itself, it seems, to replace Obama.  We're supposed to believe that money can repair the mess we're in.  Drucker said that "money knows only money, and very little else".

We're told by the Money Boys that we're in a space fraught with "moral hazard".  By that they mean they will be bailed out with public funds, no matter what they do.  And they've done some really monstrous things!  We still don't know how many of our tax dollars are rattling around in European banks.

We don't have to look back any further than the 30's to see a free Democracy vote itself into disaster in response to dire economic conditions. 

Copyright © 2012: Williams LLC
All Rights Reserved: Williams LLC