The people on Wall Street have become Communists. Yes "Communists" is my shorthand hyperbole for central planners in economic matters, rather than political "Communists". But there is an element of political "Communism" here too. Remember Orwell's "Animal Farm"--an allegory about how the Communists in the Soviet Union were motivated by self-interest rather than principle? Well, wall Street seems to think that it now controls the governments of the entire world, for the self-interest of the people on Wall Street.
You may get the idea that my contempt for the people on Wall Street--especially those featured on CNBC as both hosts and guests, including Larry Kudlow--has become as strong as my contempt for "journalists". You would be right, and I can't give a greater insult to the people on Wall Street than that. "Pond scum" (of which "journalists" are lower than) does not even begin to describe these people on Wall Street.
How can people who put us in this mess be given control of the economy of the world? Don't ask me. I have told you to vote against all of these incumbent politicians--forever (that is, this election, and all future elections). Sure, that includes every leftist Democrat around, but it also includes almost every Republican. We need to throw all of the bums out. I will not vote for them.
What caused this rant. Well, I made the mistake of watching 10 minutes of CNBC last night. I did it just to find out what rot they were spewing out now, but you may have to forego these regular reports on the Communists at CNBC, and on Wall Street. The sacrifice of listening to these people is too great. I can't take it any more.
Yes, there was a socialist on CNBC last night, talking to a nodding hostess, who said that so long as we have embraced socialism, it is time to go all of the way. No one could make this stuff up, although I told you that exactly this would happen. This blog is always right (99.1% of the time--better than Limbaugh's 98.8%). As I told you, once the "principle' of central planning, and government control, is accepted, there is no way to stop. If the government is responsible for saving Wall Street, banks, and our financial institutions--not to mention the people on CNBC--then why is the government not responsible for everyone, including you and me? There is no answer to that, and that is basically what this (honest, anyway) Communist on CNBC said.
Companies like GM and Ford are in trouble. Many others have leveraged too far with debt. Therefore, since we have already established that the government needs to step in (so this reasoning goes), the government needs to buy up the distressed debut of companies like General Motors. In this crisis, people have accurately said that we now have "capitalism" for the profits, and socialism for the losses. That is certainly what Wall Street wants for itself ("pond scum" is too kind, I tell you).
This Wall Street guy's idea (extortion again, asking us to turn our economy over to the pond scum on Wall Street who did so well in getting us to this point) is that the government can bail us out of a recession by recapitalizing American corporations like GM, in exchange for a taxpayer interest (just like the this plan for the bands, except even more directly putting the taxpayer on the hook for all of Wall Street and big business). Okay, the guy was basically honest. He said this is socialism, and it is. The idea is (as I told you already it would be) that there is no sense in being a "little bit pregnant". As long as we are embracing socialism, why not go all of the way?
I am afraid we are doomed to follow this logic to the end now. Before you embrace it too enthusiastically, you might remember what actually happened to the Soviet Union, and every other central planning economy that has ever existed in the history of the world. A mere human being, or small number of human beings, is/are not capable of "running" the worldwide economy. When they try, and fail, we all go under--really go under, including the taxpayers with the bottomless pockets. It is one of the ironies of history that Western countries have embraced the economic principles of Communism as both the Soviet Union and China have abandoned them (while the people of Castro's Cuba suffer in dire poverty because Castro held to his "principles" to the very end).
The Communists on Wall Street should read "Animal Farm" The book is about them, except they are worse. You can argue, as leftists would, that the people on Wall Street (albeit many are inconveniently leftists) have always been greedy pigs. But they are accomplishing
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