Friday, October 24, 2008

The worldwide financial meltdown. Are the players, analysts and media guilty as well?

Why does Obama surround himself with them?

If there is anything we have learned this election cycle it is that the experts in the fields of economics, banking, housing, defense, automobiles and a host of other industries have been dead wrong for years and as a result there may be nothing left of the economy for the next president to inherit. Make no mistake, they have been wrong over and over again and yet the media gave them credibility so like just like the Pied Piper, we have followed them down the path to self-destruction.

Now we are faced with a choice for president between well meaning but relatively inexperienced people and we are about to entrust them with our future in perhaps the most difficult period of our history so what lessons have we learned? Ironically, many in America continue to blindly follow the Pied Pipers, the very same people who taught us the meaning of greed.

Thanks to the overwhelming lack of humility of the media I feel a little uncomfortable saying it but wasn't it Jesus Christ in the Sermon on the Mount who said; "Blessed are the meek: for they shall inherit the earth" (Matthew 5:5). What a shame when quoting Jesus can result in condemnation from the very media who is supposed to be telling us the truth.

Well this very media has been engaged in a financial conspiracy dedicated to establishing greed, desire and possession as the virtues of American society as they have bombarded us for decades with all the things we had to own to keep up with the Jones's or to be a leader. Fancy cars, clothes, country club memberships, spas, lattes, you name it, there is not enough money on earth to acquire everything they want you to buy and the more expensive the better.

Oh yes, the media had to attract the billions in advertising dollars from the greed mongers in order to brainwash an unsuspecting public into following a path of economic moral bankruptcy. But the day would come when the excesses of corporations and the lies and deceits of the experts would finally bleed the last drops of blood money from the public and that day has now come not just here but around the entire world.

The American public could see this coming and the experts didn't. Public opinion poll after public opinion poll showed the people no longer trusted politicians, Congress, financial experts and the media as their credibility ratings dropped to the lowest levels ever recorded. What was the difference? Well the experts relied on the philosophy of the products of the best businesses schools in the world while the meek relied on the Bible and the teachings of a humble man named Jesus.

What is the result, economic chaos. What is the conclusion, the experts were wrong. So if they were wrong, why does the media continue to embrace them, give us their latest version of what is going to happen, and expect the public (the fools in the world according to the media) to still follow?

Barach Obama, the least experienced of the candidates, did the only thing he could and used an enormous war chest of money to surround himself with the best, most experienced experts in the world, a Whose Who of Policy experts. These are the very same experts who caused the economic destruction of the world we now face and make no mistake, we are only feeling the beginnings of the fruits of deception and greed.

Look at the record. My last article detailed how the executives of Goldman Sachs recruited Obama to run for president and have helped finance the most expensive campaign in history. To give himself the benefit of others experience Obama surrounded himself with former Goldman executives as his key advisors and endorsers including Robert Rubin (former Goldman CEO), New Jersey Governor Jon Corzine (former Goldman CEO) and a host of fund raisers from Goldman's that gave over $800,000 and raised millions more.

Obama was seduced into supporting the Wall Street bailout, in fact was a leader in bringing it about according to the Democratic party press releases, a bailout designed by yet another former Goldman CEO Treasury Secretary Henry Paulsen. Finally, Obama says billionaire Warren Buffet is his close friend and closest advisor on the economy. Buffet also is now one of the largest stockholders in Goldman Sachs with over $5 billion in the company. There is an old Chicago motto that comes in to play as Buffet not only propped up Goldman but went public to tell Congress to get the bailout done! That motto, "Ubi Est Mea" means "Where's mine?"

To establish his foreign policy credentials Obama got the endorsement of Colin Powell, former Chairman of the Joint Chiefs of Staff and Secretary of State. This was another beneficiary of Goldman largess and was the one who personally took the case to the United Nations to justify the invasion of Iraq, a war Obama says he opposed from the beginning though he was only a young state senator with no involvement in world wars at the time. In housing, there are Fannie Mae and Freddie Mac people throughout his campaign.

So does surrounding oneself with the very people who have led the nation down the path of destruction give one the experience necessary to lead us through the worst period of our history? Judgment is a very interesting thing when selecting people to prove you have credentials as having experience is not nearly as important as learning from experience. If the very people that brought on these deceptions and mistakes are the people you rely on, then not only do you rely on the wrong experience but you demonstrate bad judgment as well.

It would seem the Obama cabinet might as well meet in the Goldman Sachs boardroom as the faces of his team already line the walls of former executives, benefactors and stockholders of the company whose corporate motto is proudly proclaimed as, "Long Term Greed!" Now maybe it is time to update the motto and add, "Take the Money and Run!".

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