Monday, March 23, 2009

President Obama, Fascist: "Partnership" with Wall Street?

There is no longer any doubt. President Obama is an economic fascist (as well as probably a Communist--as these terms merge, with Nazi Germany and the Stalinist Soviet Union having essentially the same system, except for slightly different veneers).

The terms again have to be defined. I am talking economic fascism. This is defined as a central planning partnership between Big Government and Big Business/Wall Street/Big Financial: "socialism with a capitalist veneer". Thus, we are not talking political "Hitlerism" or "Stalinism"--although the central planning aspect is so authoritarian as to encourage political authoritarianism, and there is evidence Obama would "lead" us in that direction. What else can you call it when Congress asserts the "right" to use the tax system to control the conduct of private individuals whose main criime has been to embarrass Congress and the Obama Administration (reference is to AIG bonuses). President Obama himself is attacking executive salaries in all of business, and has previously shown a tendency to try to intimidate political opponents (like Rush Limbaugh, or his radio stations, and talk radio).

The evidence that we are headed down the road of economic fascism is now conclusive. President Obama, in that "Sixty Minute" interview", proposed a new government entity constituting a direct partnership between private capital and Big Government to buy "toxic assets". We are supposed to dedicate up to one trillioin taxpayer dollars to this new entity.

This is really the same old Paulson/Wall Street "plan" that Henry Paulson and President Bush abandoned after proposing it as the entire basis of the 700 billion dollar Wall Street bailout (the first bailout, right after the initial AIG bailout). This "plan" (proposed by Wall Street) was abandoned, after a three week farce of a "debate" in Congress about "NO BLANK CHECK". Congress ended up giving a blank check to the Secretary of the Treasury, which led directly to the eventual 165 million in AIG bonuses (also helped by Congress specifically authorizing the bounuses, based on a request by the Obama Administration). You will remember that the stock market (the Stupidest People on Earth) JUMPED initially based on this first bailout, but then CRASHED.

Wall Street has never given up on this new entity proposed--but then abandoned--by Paulson, that would magically take over the entire problem of toxic assets. As this blog has previously stated, Wall Street--despite Obama bashing them, for political reasons, while adopting their proposals--is now running the conomic policy of this country.

Why did Paulson abandon this fascist "idea" to start with? I can tell you that. Congress put all kinds of restrictions on how this "purchase" of "toxic assets" was supposed to work (the "no blank check" approach, before Congress ended up granting a blank check). Remember all of that debate (complete farce) about making sure the taxpayers did not pay "too much" for these "toxic assets". Well, the problem still remains. Fascism is a very bad idea. But it is an even worse idea if you put so many restrictions on it that it can't possibly work. Does it really "help" distressed banks/businesses to buy "toxic assets" at MARKET prices? Of course not. That is the entire problem. These "assets" are now pretty much worthless, or the market is saying they are worthless. If you start buying them at HIGH prices, then you are just defrauding the taxpayer. If you buy them at LOW prices, you are not accomplishing anything for the failing businesses you are buying them from. And all of the time, the whole program will be used as further reason for the government to contro. the way all of these private corporations operate.

Nope. This is fascism. See the definition above, and see if you dare contradict me on this. What else can you call it. And the Stupidest People on Earth (traders on Wall Street) are again reacting "positively" to the adoption of another one of their pet "ideas" (just like they reacted "positively" a week ago to the Fed announcement that it was going to pruchase the government's own IOUs--like a compnay issuing a debt instrument and then "financing" itself by buying its own note--creating, or printing, money out of thin air).

Yes, this blog is again proven right (as I will be about the excessive stock market rally today, and Wall Street containing the Stupidest People on Earth). Rush Limbaugh, Sean Hannity, Laura Ingram and the rest were STUPID to suggest that Wall Street (the stock market) was the best indication of the success or failure of Obama's economic policies. Contrary to what they were saing, Wall Street traders are NOT "smart". They are now merely players in a giant casino, acting on present HYPE (not the real future of the economy). As I have previously pointed out, if you doubt that, consider that the Dow reached a new ALL TIME high in October of 2007. Then ask yourself whether that was an accurate prediction of the future of the economy. We have gone straight downhill since then.

President Obama is a fascists, and Wall Street people are the Stupidest People on Earth.

P. S.: You might ask yourself whether these recent attacks on AIG employees by politicians trying to cover their own rear end have helped or hurt the chances of AIG to survive? Is it not a marvelous irony that the "justification" for committing hundreds of billions of taxpayer dollars is that we could not afford to let AIG fail. Yet, for their own political purposes, politicians are doing their best to make sure AIG fails. That is exactly what is ging to happen with this new "entity" which is supposed to purchase "toxic assets", if we were ever stupid enough to adopt this "plan"--a plan straight from the brains of the newly minted fascists/Communists on Wall Street who got us in this mess--along with government--in the first place.

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