Our Economy is Collapsing. The Liberals will Now Institute Some Kind of Neo- Fascism or Socialism or Some New Blend to Maintain Power.

Despite numerous warnings and other signs, our economy is slowly collapsing and the liberals just plod onward in their greedy quest for bigger government, higher taxes and more power. [1][2][3] Our federal government is slithering down the same latrine as California[4][5][6]—heading for bankruptcy. They can do nothing more than tax and spend thus they share the same mentality and outlook as those in Sacramento although they cannot print money yet. They can issue IOUs. Both governments refuse to cut anything. Those who stooge for liberals (like Paul Krugman) drone on and on about higher and higher taxes and nationalization of banks and socialized medicine and more government control of everything.[7][8]  Such allied political groups may soon be incorporated into something resembling an amalgam of the New Fascists, Marxists, Leninists and the New Socialists and perhaps other oddities yet to be invented. All this is beginning to look like an opportunity to grab wealth and power by the left using a fusion of Fascist and socialist political systems. The left apparently want to carve out some new, vast and all-powerful government from the chaos of depression and inflation. Their lust for power is unquenchable. They are driving us into that maelstrom.

Debt

We are busted. Our debt levels are so high that even the Chinese complain about the stability of our currency.[9] People cannot seem to think about GM in anything but political terms. GM had lost a total of $80 bln dollars and to make that up with a 10% profit they would have to sell $800 bln dollars in cars, more than the current bailout. $800 bln dollars in autos would mean 20 million cars at $40,000 per car or in they can only make 1% then that would require a sale of 200,000,000 cars. GM expects $50 bln in bailouts for the first round[10] as some of their models are shut down and their market share drops below 19% of the auto market in the US. In the Chrysler bankruptcy Obama called the bond holders ‘speculators’ and forced the bankruptcy judge to give away this secured debt to the unions [political allies] and some  obscure Italian carmaker who makes lousy cars. Thus, the federal government adjudicates debt and equity allocations and shifts ownership of assets to political allies.

Fannie Mae and Freddie Mac, poorly run historically by government people and their friends, hold half the nation’s mortgages for a sum of about$ 3.19 trillion dollars, much of that in worthless toxic assets and defaults rose from %1.3 to % 3.68. They will need a bailout.

Our net worth is down to some $57 trillion dollars and the combined national debt, Social Security, the national and foreign debt and Medicare now project spending of are now projected to be about $54 trillion dollars. That is broke.  By 2011 48% of all US homeowners will have negative equity in their homes thus erasing any credit from that asset.[11]

Incoherent Spending and Tax Lust

Idiots[12] in California[13] now run a 26% budget deficit[14] and with some accounting tricks and moans they can borrow and put off payments for a while and rob the cities of their scarce cash and what happens next year? They will have another such deficit!

Every trillion spent is a new tax liability for those who work and pay taxes [only about half of the work force pays federal income taxes] of $16,000 per trillion owed on average. [15] There is no way workers can pay this back in 20 years as the total of all debts now exceeds $600,000 per taxpayer above the median.  The 2009 Obama deficit will soar beyond $2.87 trillion as it now stands.[16]  That is more than $45,000 in new debt this year alone per taxpayer who pays taxes. We now have 34 million or %11 of the population on food stamps. About 5 million illegal aliens [this exact number is disputed] have subprime mortgages[17] and many are in default. They can vote in many states but do not file federal or state tax returns. Citibank was accepting tax ID numbers instead of Social Security numbers. [18]

Our tax revenues are sinking fast:

“The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.”[19] – AP Enterprise: Federal tax revenues plummeting By Stephen Ohlemacher, Associated Press Writer – Mon Aug 3 [Emphasis is mine in all quotes

unless specifically indicated as in the original.]

“The last time the government's revenues were this bleak, the year was 1932 in the midst of the Depression.”-- By Stephen Ohlemacher, AP – Mon Aug 3, 2009

“Is there a way out of the financial mess?

A key factor is the economy's health. The future of current programs — not to mention the new ones Obama is proposing — will depend largely on how fast the economy recovers from the recession, said William Gale, co-director of the Tax Policy Center.”-- By Stephen Ohlemacher, AP – Mon Aug 3, 2009

“President Barack Obama has said he wants to tackle Social Security next year, after he clears an already crowded agenda that includes overhauling health care, addressing climate change and imposing new regulations on financial companies.”-- By Stephen Ohlemacher, AP – Mon Aug 3, 2009

Well, there are no examples of the government “streamlining a federal program” or “saving money” if we examine the histories of education, Head Start, welfare, Amtrak, Social Security, Medicare, the Postal Service and the military. Can some of us recall the War on Poverty, Great Society, HUD, and some other failures? What happened to their promises on those? They have NEVER been able to cut out waste and inefficiency because they refuse to fire incompetents. Amtrak, established in 1970 has never made a profit in a single year to date.

And in a sinking economy they talk not of cutting but taxing and spending more:

“Rep. Richard Neal, D-Mass., chairman of the House subcommittee that oversees fuel taxes, is working on a package to make the fund more self-sufficient. The U.S. Chamber of Commerce, which doesn't back many tax increases, supports increasing the federal gasoline tax, currently 18.4 cents per gallon.”-- By Stephen Ohlemacher, AP – Mon Aug 3, 2009

They now expect to add in Cap and Trade energy taxes that will increase costs everywhere in the US. The proposed Cap and Trade taxes would be world wide.[20] Some even call for a second ‘stimulus’ even thought the first one did nothing we can see as yet.[21]

Power from Chaos

This is really insane: they either think they can spend their way out of this mess OR they think they can make out politically from a complete collapse of our economy and that is what looks to be the case in Washington.  That would require a new form of authoritarian government and that would be some blend of Fascism or Neo-Fascism in this case and socialism or Leninism.

Fascism was invented by Benito Mussolini who was editor of the biggest socialist newspaper in Italy and he states quite clearly in his autobiography[22] that he hated capitalists. Hitler ranted on about capitalists but was forced to make a deal with the Junkers for money to finance his political campaign.  The old definitions of Marxism, socialism and Fascism are too rigid to describe what is happening. We need to select parts and pieces of each system and fit them into a new puzzle to describe what is going on the US today.  Racism, as usual, plays a dominant role in leftist politics. [23] The only people now remaining on the true ‘right’ are the followers of William F. Buckley, Jr., Ronald Reagan, Michael Savage[24], Mark Levine[25] and Rush Limbaugh[26] among several others. None of these persons ever wanted or even suggested bigger government or any ‘socialized’ government ‘program’ of any kind  and stated this negative position against the left  loudly and clearly for decades. Their calls for tax cuts infuriated the left because all they have or can get derive from taxpayers, business owners or landowners or salaried workers above the median income. The left cannot be forced to believe that tax cuts encourage economic growth. They view tax cuts as an expense. Except for a growing number of Americans who sense that things are not going well and that the obvious promises of President Obama have not been fulfilled, the Democrats have full power to do anything they want and they clearly want more power. We have to worry how this new system might act if we have some more financial crises. A major crisis might perturb the food supply or transportation ‘or energy supply  and cause a panic.

Here, in this new blend of socialism and control of business—similar to the People’s Republic system that mixes totalitarianism with 16^th century mercantilism—the government would control business by takeovers and replacing management along with canceling equities and nullifying bonds and nationalize only the banks and other selected businesses. Bond holders[27] in the auto industry were recently deemed “speculators” [read greedy] by Obama.[28] Perhaps stock holders and pension funds that buy bonds are “speculators.”  Are homeowners with paid-up mortgages “greedy?” It appears that anybody with assets is a target of the left. Maxine Waters[29] threatened to nationalize [socialize in her words] the oil companies[30]during one of her tirades.

The association with the process where government directly runs businesses is old hat in modern terms and there is no reason to match the new Neo-Fascism with the right wing. Socialism strictly requires[31] that the government controls state-owned and tolerates private businesses and controls access to such services and products but that never works. Marxism is much worse. What I see is a new symbiotic relationship between socialism and Fascism, both elements of the left—not the right—to form a new system. For clarity, the Nazi party was far left and was called The National Socialist German Workers' Party (German:  Nationalsozialistische Deutsche Arbeiterpartei , abbreviated NSDAP), commonly known in English as the Nazi Party.[32] What Hitler got in a democratic procedure  was an enabling act that gave him permanent powers very similar to what Treasury Secretary Timothy Geithner attained by law and who has unlimited powers to print money and restructure banks  and who knows what in our economy without any interference or opposition from the courts or anybody else. Think about this. Did Hitler have this much power?

The path forward put forth by Congress and the White House is so brainless that I now believe that the ‘plan’ is to let the economy go down in flames by printing money as fast as they can so that our bank accounts will become worthless. Then the government can step in and declare capitalism a failure, ‘restore order’ and seize tangible assets to later be ‘spread around’ for the ‘poor’ and the dream of redistribution of wealth by the rabid left will become a reality. Greedy speculators and bond holders and those who are debt free thus become of enemy of the New State and their holdings such as 401(k)s, homes and businesses might be subject to seizure. This is what the Bolsheviks did in 1918-1919 and what they tried to do in Germany, Spain and Italy.  It is interesting that Bolshevism was halted by an internal squabble among leftists.  There is no such division among those players now.

We have major problems approaching and very soon. It is becoming more difficult to believe we can trust our government. They want to pass laws before the elected representatives have had the opportunity to read the legislation.

rycK

Comments: ryckki@gmail.com

The Old Red Lady of the Old Gray Lady Comments on Losers: Clinton and Kim

Abstract: Maureen Dowd acts as if she has inside information on what North Korea has received or is owed for this recent generous act of getting rid of two political thorns in Kim’s backside. Bill Clinton has apparently secured some kind of diplomatic miracle with Kim despite Hillary’s nasty comments just a few weeks ago.  The price for this was a few hours with an unsmiling Billy? Dowd appears to manufacture or conceal inside information from the rest of the world in this article.  What was the payment? We need to wait and see what Kim does with his weapons programs and how he interacts with his neighbors in Asia. Bill Clinton deals in bribes, ideological racism and raw sex—none of which might interest Kim in either his present condition or his past. Dowd blows bubbles into the wind this time.

We are always entertained by the scribblings that appear like truck-stop restroom hieroglyphics in the NYT—aka the Walter Duranty Papers[1]-- as they attempt to ‘form public opinion.’ Or, as they heap the pyres with synthetic praise for the antics of their far left benefactors--their ideological partners in Congress—by endorsing new and sweeping changes that ultimately lead to socialism, inflation, debt and the loss of our Constitutional Rights.  In a previous screed[2] she savagely bit into the image of Sarah Palin and demonstrated how much venom she can extrude in one episode on her keyboard. She mellows today.

But, today, we are treated to an unusual  critical analysis of the magical works of Bill Clinton and his little stage puppet in North Korea by the Old Red Lady[3][4][5] of the Old Gray Lady[6] [Dah Dowdy Dowd]. [7] Aside: [Does Maureen cook her hair in the microwave??[8] Where does that color come from? As a chemist, I know that some chemicals that color can eat through glass, flesh and concrete. [9] Oh well, some mysteries of the universe are too frightening to understand in detail.]

Dowd is no fan of Slick Willie as she was one of the first of the far left to dump on him in his first term.  She called Hillary “Godzilla” and Obama was “Obambi.”[10] Maureen has certain journalistic freedoms that are unusual and praiseworthy in the halls of the New York Times. Unlike others who whose intellectual sandals are mired in congealed leftist drool, or other bodily emissions, she stands above and apart from  pedestrian-grade chum-chuckers like Frank-the Crank[11][12] or the protosimian racist Herbert[13]or even the Babbling Brooks, an imaginary token of the right. [14] Today she exercises her wide literary freedom and resumes her legendary attack on Clintoonery.[15]

Launching off with spite and venom:

“When I look at the incorrigible Kim Jong-il, an insult hurled by the incomparable Billy Wilder comes to mind… Wilder announced: “That man should go hang himself from a bonsai tree.”

The diminutive North Korean leader has been known to use lifts in his shoes. This time, he demanded some special stature in the form of a diplomatic cameo by our top diplomat’s husband.”[16]--Let the Big Dog Run By Maureen Dowd Op-Ed Columnist Published: August 4, 2009 [Emphasis is mine in all quotes unless specifically indicated as in the original.]

Some in her camp would automatically praise Kim as they did Pol Pot and Fidel Castro, but times change.

“The price set by Kim for releasing the two captured American journalists, Laura Ling and Euna Lee, was a few hours basking in the presence of the ex-president who most wanted to visit North Korea. Bill Clinton was willing to bow but not scrape.”-- By Maureen Dowd August 4, 2009

Really?

With some literary license our Old Red Lady seems to be in receipt of information unavailable to the rest of us. Billy had time for several North Korean-instigated sexual escapades in the weeks of preparation time before this circus performance and we can only guess that he has more favors coming from the hapless Kim. But, maybe Maureen has a spy inside Bill’s group of groupies.

“It was a moment unique in the annals[sic[17]] of diplomacy. Bill was being hailed as a dazzling statesman [sans cigar this time we think ed] who might have changed the stormy weather between the U.S. and North Korea, just as Hillary was beginning an 11-day trip to Africa designed to highlight the subjects she most cares about: do-gooder development and women’s issues.”-- By Maureen Dowd August 4, 2009

Is Kim that frantic? Billy has been bought for very little such as a small sack of soiled bills at Tea Time in the White House. We can only wonder what Kim has offered him.

Spite:

“It’s fun to speculate whether Bill and Kim discussed the exchange of insults with Hillary. (North Korea issued a jibe back that Hillary was “a funny lady” and that “sometimes she looks like a primary schoolgirl and sometimes a pensioner going shopping.”-- By Maureen Dowd August 4, 2009

Well, give us your speculations! You usually do. Oh! Next paragraph.

“Bill Clinton will bring back valuable information [??] about Kim’s mental and physical health. If we’d had that sort of information about the snubbed Saddam, we would have known that he was in his own spiral of doom, trying to bluff his neighbors, with no need for our shock and awe.

Hillary and President Obama look bigger when they share the stage with other talented players. And Barack and Bill may have finally started to put South Carolina behind them — without the need for a beer summit photo-op.”-- By Maureen Dowd August 4, 2009

This hokum sticks to the very walls and prompts us to wonder how this will turn out.  The invasion of Kuwait and the war with Iran were not exactly bluffs, but this paper deals in revisionism so we must accept this comment. In the Obama political theater we need for Kim to get back to 6-party talks on his nuclear program in the midst of this new Era of Leftist Fascism.[18] Kim needs to offer the world some more lies before he expires and make false promises that he will allow inspectors to peruse his nuclear weapons programs again. This will buy his regime time and the opportunity to troll for alms. This is a very big payment, if it happens, on something else. We can only wonder if Kim was promised a lot of money, since we are printing tons of the stuff.

The oblique comment about “South Carolina” and “need for a beer summit” just stokes the fires of racism so essential to the future of the Obama and the NYT.  The notion that Bill can be compensated for his wife’s presidential campaign loss and personal loss of $11 million dollars and the waste of $250,000,000 dollars of loyal leftist contributions with some photos with the fragile Kim is a joke.  The notion that Obama can forget the overt racism Bill displayed for this gesture  in South Carolina is a bigger joke.

Kim is too smart to just give up two wandering fruit loops who stooge for Al Gore[19] for just a mere photo-op and some kimchi at a dinner with Billy. He will get much more for this little intermezzo or we have to lower our expectations of Kim. We can only wonder what it will be but the Obama Reverence for Marxism has to be considered.

And a final question here: Who is the Big Dog in this piece? Kim or Clinton??

rycK [a 5^th generation Californian in exile]

Comments to: ryckki@gmail.com