My post about Addington being the Sec. of Father/Mother/Homeland Security's close childhood friend and how she would want him on her staff to write legal opinions for the detaining and execution of immigrants was deleted at Washington Monthly's Political Animal blog.
The moderator at Political Animal had been degraded to censor. Whomever this person or persons are, they have a visceral dislike of anyone who does not worship the soldiers who killed for W. Bush in Iraq and Afghanistan, as well as an undue respect for the Democratic leadership of the Obama administration. They can eat Obama's shit, and hopefully will be on the receiving end of an Iraq veteran's rehabilitation.
Soldiers should kill themselves before killing the children, and save everyone a lot of grief.
March 9, 2009
October 10, 2008
DLC Kapo
Since the presidential election of 2000 Democratic Party supporters have blamed Nader and his supporters for Al Gore's loss. Eight years later they still do. I know this because over at Pandagon Wednesday I commented that if the polls show Obama will not have a chance of winning in my state I planned on voting for Cynthia McKinney because I did not like Obama's Republicanism and war mongering. Another commenter immediately responded, writing he wanted to find me and scream at me. I then accused this other commenter of adopting the tactics of Palin supporters, who have been yelling stuff like traitor and communist at Palin rallies. The commenter responded by calling me a leftist equivalent of a Freeper. I replied he was the moderate equivalent of a Kapo. His response was to say I called him a concentration camp guard, and that that was ironic because Cynthia McKinney thinks the 'joooes' run the world.
Kapos were not exactly concentration camp guards, although that was part of their function. Kapos were Jews who were responsible for keeping the other Jews in line at the concentration camps. The Kapos were known for their brutality against their own people, which is why I chose that epithet to describe moderates, progressives or liberals who abuse other progressives, liberals or leftists who do not reflexively vote Democratic. We are on the same side of the political aisle, but staunch Democratic Party supporters think they have the authority to abuse those they have general politcal agreement with for not supporting the Democratic mainstream candidates they support. In this way they are like Kapos, using DLC loyalty like truncheons to abuse and intimidate those who choose to support alternate candidates.
My correspondent also claimed my calling him a moderate communicated more about my place in the political spectrum, which baffled me. He was the one who wanted to scream at me for choosing to vote for someone other than Gore. He was the one who resorted to name calling. He was the one who called Cynthia McKinney anti-Semitic. I think our exchange demonstrated he was the one who was trapped in a political ideology.
Kapos were not exactly concentration camp guards, although that was part of their function. Kapos were Jews who were responsible for keeping the other Jews in line at the concentration camps. The Kapos were known for their brutality against their own people, which is why I chose that epithet to describe moderates, progressives or liberals who abuse other progressives, liberals or leftists who do not reflexively vote Democratic. We are on the same side of the political aisle, but staunch Democratic Party supporters think they have the authority to abuse those they have general politcal agreement with for not supporting the Democratic mainstream candidates they support. In this way they are like Kapos, using DLC loyalty like truncheons to abuse and intimidate those who choose to support alternate candidates.
My correspondent also claimed my calling him a moderate communicated more about my place in the political spectrum, which baffled me. He was the one who wanted to scream at me for choosing to vote for someone other than Gore. He was the one who resorted to name calling. He was the one who called Cynthia McKinney anti-Semitic. I think our exchange demonstrated he was the one who was trapped in a political ideology.
Let them have free markets
Those who vilified FDR and the New Deal have had their way for twenty years. Despite socialism saving their butts, they claimed to want free markets. Let them have free markets so they will be annihilated and eliminated from the political economy. Saving the free market capitalists allowed them to take over the economy and create the present financial crisis.
The financial crisis is how the markets self-regulate. Saving over-leveraged, bankrupt and, perhaps, corrupt financial firms defies economic principles and worsens the effects on the whole economy for everyone else. The bailout monies should be used to mitigate the short term effects of the crisis for average people and to build a new financial system, rather than saving the old one, which has been proven inefficient and ineffective.
The financial crisis is how the markets self-regulate. Saving over-leveraged, bankrupt and, perhaps, corrupt financial firms defies economic principles and worsens the effects on the whole economy for everyone else. The bailout monies should be used to mitigate the short term effects of the crisis for average people and to build a new financial system, rather than saving the old one, which has been proven inefficient and ineffective.
The bottom 51% have been punished
The bottom 51% have been punished with supply side economics and a deregulatory regime for over twenty years. It was the top 2%'s punitive, puritanical and greedy natures that, by a statistical measure, have punished most of us. Throwing Americans' future earnings at Wall Street continues that punishment.
From today's Asia Times' "Monetary policy as practiced by the US Federal Reserve for the past decade is but a form of financial Stalinism, forcing ridiculously low or negative real interest rates, with catastrophic results that are now plaguing the world . . . The fiscal bill for past, ongoing and future bailouts by Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson will be staggering; the US fiscal deficit will be blown up to unthinkable proportions, public debt will be pushed to unprecedented levels, and most public resources will be destined to absorb financial losses at the expense of social and economic programs."
Those who will most dearly pay for the bailout, with taxes and less social programs, will continue to be punished for the sake of the rich.
From today's Asia Times' "Monetary policy as practiced by the US Federal Reserve for the past decade is but a form of financial Stalinism, forcing ridiculously low or negative real interest rates, with catastrophic results that are now plaguing the world . . . The fiscal bill for past, ongoing and future bailouts by Fed chairman Ben Bernanke and Treasury Secretary Henry Paulson will be staggering; the US fiscal deficit will be blown up to unthinkable proportions, public debt will be pushed to unprecedented levels, and most public resources will be destined to absorb financial losses at the expense of social and economic programs."
Those who will most dearly pay for the bailout, with taxes and less social programs, will continue to be punished for the sake of the rich.
October 9, 2008
It should have been the first choice
As of today at 3:22 PM the TED spread was a very high 4.14%, demonstrating, I think, that the theory the Treasury can recapitalize the banks with huge gobs of money has been disproved. The same people who dreamed up the 'bailout' were also the leading ideologues of supply side economics and the prevailing deregulation regime, which is why their scheme should have been rejected. A thorough plan formulated by disinterested expert parties will be the only way to fix such a fantastic crisis.
The banks were never going to loosen their overnight lending rates nor any other lending standards. They are under-capitalized and are hoarding cash. That may or may not be prudent on their part, but since their deposits belong to the depositors, banks are regulated and can be put into receivership if their balance sheets are in bad shape. Most banks balance sheets are in bad shape. Since they are still holding up the overnight lending markets, the government has no choice but to step in and takeover many of the banks. It should have been the first choice.
The banks were never going to loosen their overnight lending rates nor any other lending standards. They are under-capitalized and are hoarding cash. That may or may not be prudent on their part, but since their deposits belong to the depositors, banks are regulated and can be put into receivership if their balance sheets are in bad shape. Most banks balance sheets are in bad shape. Since they are still holding up the overnight lending markets, the government has no choice but to step in and takeover many of the banks. It should have been the first choice.
October 3, 2008
Hyperinflation begins today
With the passage by the House today of Paulson's 'bailout' proposal to borrow $700B of Americans' future earnings to give to the banks for their failed debts/assets, means an infusion into the economy of a huge amount of money. This money will cause price inflation, hurting a super majority of Americans, while probably not saving many banks from their investment folly. The markets will not permit them to remain viable, since the banks no longer produce enough quality financial services to justify their existence. It is an extremely sad day for the American economy and the American people. There will be great pain in the American economy not seen since the early Thirties.
The banks, Wall Street and Treasury have colluded
The money banks loan is not theirs, it belongs to their depositors. The banks are claiming their fiduciary responsibility of holding depositors' money prevents them from making overnight loans at the usual low interest rates, thus freezing up the credit markets. However, if the banks were serious about their fiduciary responsibility, they would not have invested in so much of the mortgages and derivatives that now plague their balance sheets.
Bank regulators should be sent to every bank to oversee the management of their overnight loan administrations. If the banks should be reticent to make an overnight loan to another bank, the regulator should review it right then and there, and have the power to overide the bank's management on whether or not to make the overnight loan. Since Treasury's proposal is to give the banks money for their toxic debt/investments, let that money be used to insure the overnight loans, which not making are said to be the result of the financial crisis. If a bank should refuse to allow for the oversight of their overnight banking administration by the government's bank regulators, put it into receivership and fire its management.
The banks, Wall Street and Treasury have colluded to withhold the deposits of Americans for day to day credit markets in order to fabricate a financial crisis, using that as leverage to enact a publicly financed 'bailout' for their poor investing strategies. There are other alternatives to the borrowing of a trillion dollars to give to the banks, but neither public servants or pundits are willing to explore them.
Bank regulators should be sent to every bank to oversee the management of their overnight loan administrations. If the banks should be reticent to make an overnight loan to another bank, the regulator should review it right then and there, and have the power to overide the bank's management on whether or not to make the overnight loan. Since Treasury's proposal is to give the banks money for their toxic debt/investments, let that money be used to insure the overnight loans, which not making are said to be the result of the financial crisis. If a bank should refuse to allow for the oversight of their overnight banking administration by the government's bank regulators, put it into receivership and fire its management.
The banks, Wall Street and Treasury have colluded to withhold the deposits of Americans for day to day credit markets in order to fabricate a financial crisis, using that as leverage to enact a publicly financed 'bailout' for their poor investing strategies. There are other alternatives to the borrowing of a trillion dollars to give to the banks, but neither public servants or pundits are willing to explore them.
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