Friday, February 06, 2009

Big Money Now Owns America

. . . . .

I think this is a pretty good description of the treacherous ground we are venturing down with the financial meltdown and the government response of tossing billions into the mess.

"Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be saved by the government and nationalized; ..."

Big Money gets greedy. Big Money finds new ways to rip off the public like the sub-prime mortgage market. Big Money hedges their bet by secretly backing a future unknown to be president for when the day of reckoning may come. Big Money gets Congress to change the laws and regulations to allow them to avoid being detected as they pursue the illegal deals. Big Money gets too greedy and people can't afford the phony mortgage deals leaving trillions of dollars in losses to be absorbed by someone.

Big Money has now destroyed the US credit market and must change tactics to cover their losses. Big Money manipulates the oil futures market to generate outrageous oil profits to cover the outrageous mortgage losses driving prices to record $150 per barrel levels. Big Money sees chaos as opportunity to drive competitors from the marketplace and suddenly 10 legendary investment banking houses are reduced to two survivors.

Big Money sees chaos as opportunity to finally secure unlimited control and access of the US Treasury and Federal Reserve and tells Congress, whose campaign coffers are inflated with Big Money donations, to pass multi-billion dollar bailout bills. Big Money gets benefactors in Congress to bail out billion dollar losses in mortgage, insurance and banking industries. Big Money realizes they got too greedy and have now nearly destroyed the world economy thus limiting future chances to steal from the government if they don't fix the mess.

Big Money gets unknown candidate for president elected and promptly loads up his team of economic advisors to assure blame is deflected for mess and they control the future of the world economy. Big Money gets Democratic friends elected to control Congress and assure future Big Money prosperity. Big Money gets new Congress to adopt nearly trillion dollar economic stimulus bill to revive the sconomy and increase stock values.

Big Money gets US Treasury to underwrite "toxic" loans of Big Money and their banking partners thus transferring the debt to the taxpayers. Big Money gets Congress to pass home mortgage reforms to bailout all the toxic pending foreclosure losses of the past three years, again paid for by taxpayers. Big Money keeps new president from laying any blame for the economic meltdown, regulatory and oil price manipulation where it belongs thus assuring the continue to dominate the world.

Big Money never even has to tell the government how many trillions of dollars it will cost them to fulfill the economic stimulus, credit restoration, Wall Street welfare and Main Street salvation programs caused by the greed of Big Money over the years. Big Money has now successfully protected their financial windfalls and deferred payment to the next generation. Big Money is now hauling the taxpayer money from their Big Money friends in Congress and the White House to the big banks they own to finance the latest schemes they devise to further the interests of Big Money around the world.

The world is now the Big Money playground and the Treasury and Federal Reserve are now safely secured in the hands of Big Money. That pretty much sums it up. And by the way, the end of the quote and the source is:

"the State will have to take the road which will eventually lead to communism."

Karl Marx, 1867
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