Archive for February 13, 2010

Keep your eye on this guy: 2012 Presidential Candidate Warren Mosler

February 13, 2010 Leave a comment

We have never heard of him before today, but we think he is going to be the darling of the Tea Baggers in the not too distant future. Former Banker’s Trust Vice President Warren Mosler speaking about fiscal responsibility in Washington Park in Quincy Illinois for Lincoln’s Legacy Tea Party.

According to Mosler, Washington only needs to eliminate payroll taxes to pull the economy out of recession. His analysis of the actual operations of the monetary system calls into the question the need for money itself in our economy (as Re: The People have called into question the entire system of work on which the fiat monetary system is founded):

If you were to pay your taxes with actual cash, [the IRS] would take that money, give you a receipts, say, “Thank you.”  And as soon as you left the room, they would take that money and throw it in a shredder. They have no use for it.

He then explains how Washington actually pays its bills.

Watch, as Saint Paul’s Wile E. Coyote moment emerges full blown in, of all places, the Tea Party Movement.

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Greecing the skids on the European social compact

February 13, 2010 Leave a comment

Lab Rat

Greece must renounce its debt.

Yes, we said it: Greece must renounce its public debt, withdraw from NATO, and slash its military budget. It is the only game changer the George Papandreou, the Greek prime minister, has left.

It will result in an attempted (probably successful) coup by the military, and expose the monstrous machinations of Washington and Wall Street to get their hands on the trillions of dollars currently locked up in the European social compact. And, it is the only move which will end Papandreou’s silly whining about the lack of real support for the Greek socialist government – as if Washington, Bonn, London and Paris gave a tinker’s damn about the prospects of socialist rule in Greece.

Papandreou, President of the Socialist International, the worldwide organisation of social democratic, socialist and labour parties, and President of the Panhellenic Socialist Movement (PASOK)  is struggling to figure out how to eviscerate social democratic institutions in order to come up with the cash needed to pay bankers on Wall Street.

According to one report, those cuts (which are said to eventually total 4 percent of Greece’s GDP – a recession level event in itself)  have already targeted some of the most important constituents of the social welfare state:

In the run-up to the conference, Papandreou proposed drastic cuts in government spending. They included cutting Greece’s budget deficit by a massive 4 percent of GDP in 2010, increasing the public sector retirement age by two years to 63, freezing wages and cutting bonuses, while imposing a 10 percent increase in fuel prices. These cuts could cost tens of thousands of jobs in private firms that work for the government.

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