Fool me once, shame on you; fool me twice shame on me
By Paul Craig Roberts
December 04, 2009 "Information Clearing House" -- Goldman Sachs senior executives are arming themselves with New York gun permits, according to Alice Schroeder on Bloomberg.com. The banksters “are now equipped to defend themselves if there is a populist uprising against the bank.”
One can understand why the banksters are worried. The company, now known as Gold Sacks, has a large responsibility for the financial crisis and the fraudulent “securities” that wrecked the world economy and Americans’ pensions. A former Gold Sachs CEO had control of the US Treasury during the Bush regime from which he diverted $750 billion to bail out the banks, thus supplying them with free capital. Gold Sachs made $27,000 million during the first three quarters of 2009 and is paying out massive bonuses, leaving the busted taxpayers with the debt and interest charges.
Little wonder the US can’t afford health care for the uninsured and unemployed. It is far more important to finance multi-million dollar bonuses for investment bankers. I mean, what would we do without capitalism?
Of course, it is not really capitalism. It is an oligarchy or a financial plutocracy.
In a failed state, the government’s priorities are totally separate from those of the people. The US can’t afford health care or a bailout for jobless homeowners, but it can afford a pointless war and multi-million dollar bonuses for banksters who wrecked the economy.
Millions of laid-off workers lost their health insurance subsidies on December 1, the day President Obama announced a $30 billion “surge” in Afghanistan.
The expensive “surge” came 24 hours after the Detroit Free Press published a 127-page supplement of home foreclosures in its metro area. In Michigan 48% of mortgages are on properties that are worth less than the loan, according to a report from First American CoreLogic.
As bad as it is in Michigan, the state ranks seventh in foreclosures, so six states are in even more dire straits.
Why does President Obama think the US can afford a war in Afghanistan when the US economy is falling apart? Massive joblessness. Massive homelessness. Millions of Americans without medical care.
The additional $30 billion for the war comes on top of the $65 billion already appropriated for the year. These appropriations are always fattened with supplementary appropriations. The true cost is well in excess of $100,000,000,000.
Whose going to pay for it?Democratic Representative David Obey, chairman of the House Appropriations Committee proposes to raise income taxes on everyone earning more than $30,000.
This is called “trickle-up” economics. You tax the little guy and give the money to the armaments companies.
There was a time when Democratic presidents represented the little man, and Republicans represented business. Today both parties represent the moneyed interests. On December 3 at the jobs summit with business leaders, Obama said , “We don’t have enough public dollars to fill the hole of private dollars that was created as a consequence of the crisis.”
In other words, all the public’s money has been spent on the banks and the wars.