by Don Washington on 2011/11/14
In ten days stupid economic conversation is going to make a comeback. You may have missed it but while we were out occupying town squares, houses, banks and parks, the Super Committee, or as I like to say, the Gang of 12 was meeting in a dimly lit cloak room deciding how many more children would be going without food so that HNWI, people who have a million dollars in just Wall Street investments, won’t pay another dime in taxes. If they do nothing HNWI people, banks and other corporate prick-rat-bastards that got us into this mess still will pay nothing. The shared sacrifice will be cuts made to programs that people who do not have a minimum of a million dollars in Wall Street investments. We call it austerity and it is incredibly unfair.
The conversation will be stupid because it will not be about solutions. It’s going to be about the amount of additional damage and pain that is going to be done to people who have already paid for and continue to pay for the casino economy from which they derive no benefits. The conversation, such as it is, will start with commentators breathlessly talking about the doomsday scenarios that will happen if the Gang of 12 can’t agree. There will be automatic draconian cuts that will fall on the poverty-stricken and middle class alike. There will be some muttering about GOP intransigence around tax increases and we’ll hear about a number that sounds gigantic, $1.2 trillion dollars in cuts but is nowhere near the scale of intervention we need to help the majority of our citizens and because the word “cut” is in the description, it’s in the wrong damn financial direction.
The idiocy level of the conversation will grow as it wanders into the inanity of how the Gang of 12’s failure will drive the approval rating of Congress even further into the dirt. One question who the hell cares about Congress’ approval rating? I can look at Occupy America and tell you everything you need to know about how well Congress is doing. It’s a stupid conversation because it is not even worth discussing. Then, a conversation about how much pain to inflict on us ordinary citizens that has shifted into how not kicking us like a hacky-sack will hurt Congress’ approval rating will inspire some pundits to start blathering on and on about how this is going to hurt something called consumer confidence. One would think mass evictions, bankruptcies, lack of health insurance, Depression Era levels of unemployment and the slashing of government services at a time when people most need them would be the things that hurt our confidence; not IF the Gang of 12 is going to make things worse.
Remember how pointless and brain-dead the debt-ceiling hostage crisis was, you know the one that gave us the Gang of 12? Well this discussion is going to be just like that one only with an extra layer of irony because everyone having the conversation knows that they are jerking our collective chains. You know the sorriest part about all of this? It’s that the Gang of 12, whether they cut $1 dollar or $1.2 trillion dollars is doing EXACTLY the wrong thing. You see our problem, as a country isn’t expenditures, we’re not broke, its income inequality and borrowing.
The fact that the Gang of 12 is not talking about something on order of $22 trillion in income coming back to the government to be spent on the country’s ills; tells you that they are not interested in helping you, me or anyone else in the country whose not one of the moneyed gentry. Why do I say $22 trillion? When you add up the bailout cash and the GAO audit of Federal Reserve that comes to something on order of $21 trillion; $16 trillion of which came from secret loans for the Federal Reserve Bank! Think of it as more socialism for the rich and pull yourself by your bootstraps for the rest of us. Also ask yourself: “Why do we have to scream, beg and shout to protect Social Security and collective bargaining and they can give away trillions of dollars without having to even discuss it with us? Hardly seems fair does it?
What the Gang of 12 is doing has nothing to do with tax policy or even decent public policy. Do you understand that AIG, Citibank, Bank of America Goldman Sachs and JPMorganChase all got bigger and more reckless? They got so much bigger that their risky investments in European bonds is crashing countries, taking down governments, PICKING new governments and threatening the stability of the global financial sector again. Gee, looks like Dodd-Frank was just as toothless as guys like me said. I take no pleasure in being right just soul-deep anger that it still hasn’t been fixed and won’t be since AG Eric Holder is trying to arrange to give the banks clemency for stealing our houses. In this last paragraph we just had a real conversation about what is wrong with our economy and you’ll not be hearing any of this is media at all. How tragic and sad. Let the idiot conversation begin but don’t you fall for it. You know better.