Monday, September 29, 2008

The Bad Economic News

Okay, so here is my take on today's stock market plunge and the economic mess we are in as a nation. Paulson and Bush knew the economy was bad. They were among the people who actually created this crisis. They and their friends can then profit.

Were they just hoping their house of cards would not collapse before the election? Perhaps. No matter. Paulson does not exude confidence, and I don't have to comment on Bush. You already know how most feel. Just don't let them scare you into paying for this collapse without strong oversight and our government getting the money back with profit.

Their rich friends have made lots of money (remember Cheney and his buddies at Halliburton) and are making even more money on this opportunity of low market prices. All the mergers and bailouts are complicated for most, but they are part of a plan for the rich to get richer. This is not a conspiracy theory. These folks believe in the so-called "Ownership Society" that Obama has talked against.

Many are hoping this economic crisis is a last gasp to help elect McCain. Remember McCain is a Republican and is very rich (8 or more home and 13 cars, just to mention a few symbols of his wealth). He's one of them. He wants to privatize Social Security, eventually eliminate corporate taxes (remember Reagan's "trickle down" economics), and he believes in that "Ownership Society."
Cut The Corporate Tax Rate From 35 To 25 Percent. A lower corporate tax rate is essential to U.S. competitiveness. America was once a low-tax business environment, but as our trade partners lowered their rates, America failed to keep pace, leaving us with the second-highest rate among the world’s advanced economies. [John McCain's Web site 09/29/08]
Read Naomi Klein's The Shock Doctrine: The Rise of Disaster Capitalism for a new and scary view of how Bush and his rich friends fuck the rest of us. Here are some recent clips of her on a phone interview about the current crisis. Since most of the media is owned by big corporations, you rarely hear voices such as Ms. Klein's through your average network news program.