Home > General Comment, political-economy > Some thoughts on Barack’s economic plan…

Some thoughts on Barack’s economic plan…


We stated in our last entry:

“…the entire point of the American empire was to gain control of resources beyond American borders?”

A statement of some controversy among those who read this blog, no doubt.

Having watched Barack’s interview on CNBC last night, and his speech today, however, we can say with no fear of contradiction that Washington has decided to resolve the current phase of this crisis (if it can be resolved) by seizing an even greater portion of those resources than it has at present.

This is not a matter of conjecture or speculation; it is simple math based on the logic of the Messiah’s economic plan – as sketchy as it is right now.

The Congressional Budget Office has warned Washington will see a deficit of $1.2 trillion this year, not including the shortfall for domestic programs such as money owed to baby boomer social security recipients – the money for which program is being spent even now by the Moron on the bloody murder of Arabs in Iraq and Gaza, and the pillage of impoverished, backward, Afghanistan.

This is money was not collected from you, and, won’t be collected from you – it will be borrowed from central banks around the world, and, in first place, from the People’s Republic of China.

According to Brad Setser:

Over the last 12 months, China’s recorded US Treasury purchases have topped $190 billion — a record. Most of the rise has come in the past few months of data. The US survey of foreign portfolio investment has tended to revise China’s purchases of Treasuries up, so $190 billion should be considered a minimum.

We are told, by the New York Times, that this sale of American treasuries to fund Washington’s economic plan is something of a problem:

Big deficits force the government to borrow more money, saddling future generations with large financial burdens and leaving the nation reliant on foreign governments and other big investors to lend cash.

While the trillion plus dollars so far borrowed from nations like China theoretically carries with them the potential danger that later generations of Americans will be saddled with paying off our debt – or, the danger that policy decisions in Washington might be vulnerable to pressure from its creditors – this alarm raised by the New York Times is merely a polite piece of disingenuous crap.

This debt will never be paid – Washington has no intention of repaying it to China or any other creditor. It is carried on Washington’s ledger to conceal what is really is: a tax on otherwise sovereign nations.

Moreover, money is only money – which is to say, it has no magical qualities to feed, clothe, and, house you and your children: Unless real goods can be purchased with money – food, clothing, and a home – it is not worth the time and effort it takes to put ink on the paper.

What money does for us in this instance, however, is indirectly measure the extent to which the resources required to produce things like food, clothing, and, homes for Chinese peasants have been diverted to the American treasury to kill Arabs, and, bailout Citigroup and General Motors.

In this fiscal year, that will ultimately amount to the 1.2 trillion dollar figure cited above.

If the Messiah can convince your lazy corrupt representative in Congress to go along, that figure will probably rise to somewhere in the neighborhood of 2 trillion dollars.

That is 2 trillion dollars worth of food, clothing and shelter diverted from the world’s poorest families to prop up Washington’s imperial house of cards.

Two trillion dollars of real goods, like refrigerators, iPhones, and 42 inch, high-definition, widescreen, plasma televisions, in return for a vague promise to return those real resources to their rightful owners sometime in the distant future.

The president-elect promises to spend these resources wisely on critical domestic needs to boost the ability of the US economy to compete with the economies of those same impoverished billions – i.e., to render them even more marginal to the global economy – but, if Washington is less wise than he believes, he warns of, “the unparalleled prospect of ‘trillion-dollar deficits for years to come,’” according to the same article in the New York Times.

This, of course, is the entire point of the fascist – okay, you don’t like the word fascist, so we will choose another one – progressive political economy which has dominated the Party of Washington since the Great Depression.

(From now on, in deference to your delicate sensibilities, we will refer to Barack’s political-economy as progressive – but every time we use that word, just think of those grainy images of Mussolini strutting the stage before adoring crowds in the middle of the Great Depression.)

Economists call this a stimulus package, and promise that, if it works, America will enjoy a new round of economic growth.

But, as you see, what economists call growth is only Washington draining off resources from the rest of the planet, and, transferring those resource here, gratis, to maintain the funding of its empire.

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