From the VOMITORIUM
We have all heard the rumblings from the Right…..the government is at fault….does not matter what we were talking about…it is always the government’s fault. It never fails someone will accuse the government of something and then there will be hundreds jumping on the bandwagon….right now it is the oil spill in the news and yes, you have it, it is the government’s fault…..
As usual I was watching the early morning news and came across CNBC’s famous Maria Barto……whatever her name is…and this morning while the panel was discussing the oil spill she said that it was like the finanacial crisis…the government’s fault…because there were no less than 400 agerncies involved in the regulation of the financial sector…this was her example…..and she tied it to the agencies that oversee the drilling stuff…she made a point to emphasize that less regulation was better somehow…..
It struck me that she was for no regulation and uncontrollable greed….yes! I said GREED!…..in the financial sector and in the oil industry. I mean this kinda irritated me….because capitlaism has become a dis organized operation that enoronously rewards price fixers, exploiters, con artists, gamblers, stock manipulators and in general most forms of corruption…..it has created a class of thieves with NO policemen.
I will, in sorts, agree with Maria and agree that she is a spokesperson for this class and a cheerleader of uncontrollable greed……and IMO she is probably the best person to be the spokesperson for the Banksters (bankers + gangsters…a term popular in the 1930′s).
Like I said, I agree with her, somewhat…..it is the government’s fault……Why?…I knew you would ask that…..the government was moronic to trust the industry, whether it be financial or oil, to do the right thing and play fair…that is the first mistake of the government…..2nd mistake was allowing Clinton and his Gang to repeal Glass-Steagall….3rd mistake was a treasury department with its head up its butt and lastly and the most important mistake was the American people for putting their blind trust in a group of NO CLASS people to represent them in Washington.
This returns me to Maria…..she, like ALL other journalist, have an agenda and that agenda is one of hegemonic control……l know…huh? Anything done to promote and control the system and the media is our hegemonic control….and Maria is doing her part to further the agenda that the government is too large and in being so is at fault. If you think I am wrong then just listen to the questions that the pundits ask the guests on their shows….they are all leading questions and the answer will be used to continue this control. So the theory is if you say something is so long enough and often enough…it will be believed.
Watch the boob tube and especially the news….pundit after pundit will come forward and make this claim or that and after a significant amount of time a poll is taken and the results will show whether the mind control has taken or if further indoctrination is needed. And the American people are perfect subjects for this type of control.
The primaries are in full swing as we speak, but the real test will be in November when the many general elections will take place…..there are many reasons to vote….smaller government, the deficit, hatred of a Rep….many reason….but I believe that the main reasons for voting this year will be the economy and its solutions…..
Eavon Javers of Politico has put together a very fine list of economic reasons to vote…..
1. August jobs report
August jobs report — which comes out September 3rd — will likely set the tone for the fall political campaigns. A strong, upward trending number will mean the Obama administration and congressional Democrats can hit the campaign trail bragging that their policies are working. An anemic report, and House Minority Leader John Boehner (R-Ohio) and other Congressional Republicans can — credibly — continue to complain, “Where are the jobs, Mr. President?”
2. Third round of stimulus reporting
News from the first reporting period last fall was anything but reassuring: jobs reported in non-existent congressional districts, bogus zip codes, and a debate over the meaning of “saved or created” jobs. The Obama administration’s protests that some amount of human error is inevitable in such an unprecedentedly large transparency effort notwithstanding, stimulus critics had a field day. The Obama administration says it has fixed the reporting problems that bedeviled the first data rollout.
Now, with the federal budget deficit and Obama’s spending serving as rallying cries for an increasingly potent conservative tea party movement, the numbers due to be submitted to the government by a July 10 deadline are going to be watched more closely than ever, as Obama’s critics seek any evidence to show that the stimulus isn’t working, and Democrats sift for data that prove it is.
3. Second quarter GDP report
But just how much growth will be the key question. The first-quarter number showed the economy expanded at 3.2 percent in early 2010, which was less robust than the 5.6 percent growth that it saw at the tail end of 2009. That gave political bears (that is, Republicans) a chance to argue that Obama’s policies weren’t achieving traction, and the U.S. might be headed for a “double dip” recession.
The second-quarter number will establish a trajectory — and let both bulls and bears know whether a double dip is in our future or not.
4. Third quarter trends
Many economists estimate that the economy will begin to tail off in the third quarter of 2010 as federal stimulus spending begins to taper off, too. So the months of August and September — which will help set the public’s impression of the economy ahead of the election — will be crucial. If the estimates are right, watch for the White House to argue that the economic softening is less than expected — and for Republicans to pounce on any evidence that the economic recovery is faltering.
5. Bernanke’s choice
The Fed has injected more than a trillion dollars of liquidity (read: cash) into the U.S. economy in the wake of the crash of 2008, and as the economy recovers, Fed Chief Ben Bernanke & Co. will be under increasing pressure to pull back and raise interest rates to stem nascent inflation.
Interest rates have been at close to zero for a year and a half, and some in Fed land are beginning to openly talk about raising rates. During a speech June 3rd, for example, Atlanta Fed chief Dennis Lockhart said, “The time is approaching when it will be appropriate to consider recalibrating interest rate policy.”