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A Tale of Two Debates


#1

A Tale of Two Debates

John Atcheson

It was the best of times. It was the worst of times.

Well, maybe not the best, but the Republican debate last week was certainly about as bad as it gets.


#2

Is the author kidding? I thought the Democratic debate was as bad as the Republican. Fawning over Hillary, O'mally only there so they can say they had more than two people in their debate.

One part I caught before I gave up and watched SpongeBob (not really but it would have been just as informative) was when Hillary was attacking Bernie for voting for liberalization of regulations (ie remove them) of derivatives in 2000. (which helped bring on the collapse 8 years later) "Senator Sanders was the only one on this stage that voted for it! ". What gall! One, Sanders was the only one that COULD vote for it..he was the only one in the Senate or the Congress at that time. The bill was attached to a much larger bill, and 346 members of Congress signed off on it . Two, the bill was supported by Bill Clinton and he signed it! (Of course, It was championed by Republican Phil Graham..plenty of blame to go around on that one). Three, the final bill was at least partially written by the guy that is now one of the Clinton teams economic advisers .

One can only watch so much fawning and hypocrisy before they give up and watch SpongeBob.


#4

I like Mr. Actheson, so I find it sad that he's joined the chorus of the "Reality-disabled" by touting this piece of dangerous fiction from Richard Brunt:

"Consider, right now in America, corporate profits are at record highs, the country's adding 200,000 jobs per month, unemployment is below 6%, U.S. gross national product growth is the best of the Organization for Economic Cooperation and Development (OECD) countries. The dollar is at its strongest levels in years, the stock market is near record highs, gasoline prices are falling, there's no inflation, interest rates are the lowest in 30 years, U.S. oil imports are declining, U.S. oil production is rapidly increasing, the deficit is rapidly declining."

I am going to deconstruct every one of these ridiculous claims.

Corporate profits may be at record highs, but the money as has been documented... is remaining tucked away in stock dividends and offshore accounts. It has NOT trickled down. To the contrary, more and more of the newly minted faux wealth (the product of Wall St. faux products like derivatives and other complex bets on loans) has gone into a miniscule number of deep pockets.

The fiction that unemployment is below 6% as any thinking person realizes, is based on the fact that after a year, individuals give up and no longer count on the rolls.

IF the claim that "200,000 jobs per month are being created" is true, the vast majority of these jobs constitute temp work that lacks benefits, job security, and decent wages.

The dollar is strong mostly because banksters sold its Wall St. bamboozle to other nations that didn't have the expertise to understand what they were signing up for. Cheap money had other nations take out loans for things like dam building and the purchase of weapons; and with those nations' incomes tied to the price of commodities, they're now having difficulty paying back those loans. (John Perkins explains how this works in his book: Confessions of an Economic Hit Man.)

Interest rates are bottom rates because the .U.S. debt is so substantial that small increments to it would mean that half of tax dollars collected would go to just servicing the gargantuan debt.

And lastly, to tout the U.S. oil production is to champion turning our beautiful natural landscape heritage into something tantamount to the Niger Delta.

Fracking is poisoning water wells when methane isn't escaping at dangerous levels. Industrial detritus, hardly regulated, has just managed to turn back the cognitive development of a generation of kids living in Detroit, etc. ad nauseum.

Some Christians refer to Jesus' words as "The Good News" and this article reads like an economic form of The Gospels... the trouble is, its good news is all fake pabulum.

Ridiculous.

The smart people say collapse is IMMINENT for 2016 and there's plenty suggestive of it... like a global collapse in commodities prices AND currencies. Oh, and there was no "good news" about retail profits this Christmas because as Ford recognized a long time ago, if employees aren't paid a viable wage, they can't afford the products they're building... or much of anything else.


#5

More necessary refutations, sadly.

On this one:

"And as the Obama noted in his State of the Union, the US auto Industry has been rescued and is thriving, and the last two years of job growth have been the best since the 90’s."

Paul Craig Roberts pointed out that new vehicles are being sold to people who don't have stable credit. He called it a bubble a lot like the housing bubble... that so many new cars have been sold to people who really can't afford them. And if the predicted fiscal crash occurs, these loans will NOT be paid.

It's another house of cards like the sub-prime mortgage debacle or inflating the costs of college tuition and medical care so that people end up in hoc up to their eyeballs trying to pay their debts.

Due to the Supreme Court's endorsement of Big Money controlling the U.S. election process, both parties are guilty of this these days:

"Because being honest with the American people would reveal the real intent of their budgets – to transfer enormous amounts of wealth from the poor and middle class, to the uber wealthy."

THIS is the crux of the issue, the Cancer that's taken hold of our nation:

"Look, the US spends more on defense than the next eight countries combined, and terrorism is not an existential threat. On the scale of things that threaten us, it is quite small and it generally doesn't work. They’re playing a classic grifter’s game – distract ‘em while you lift their wallet."


#6

The wall taken down between Glass Steagall and HONEST investment banking has resulted in an estimated $250 TRILLION dollar global market in Bull-Shit: I.e. bets on loans. THAT is what this "non-thing" is... and since the ACTUAL global economy is valued at $60 trillion dollars... the gap between the REAL and the FABRICATED is massive.

Perhaps Mr. Atcheson has not heard Ellen Brown on this subject or Nomi Prims?

The way the Banks managed to get the laws written, in the event of the next inevitable bailout (since the first one was "remedied" by prescribing more of the crippling disease, itself) the bonds' owners and derivative marketeers get first DIBS on all available funds. That means OUR bank accounts. This is true and documented.

The fancy term for it is "a bail in."

People think they are insured to $250,000 but the fact is, if the Federal govt's signed on to make protection of banks (their derivaives exposure) a FIRST priority, there won't be a dime left to cover actual deposits.

There IS no recovery. It's a game of smoke and mirrors and Obama is hoping to get out of office before the inevitable implosion hits.

In short, this is a bunch of hyped up B.S. cheerleading:

"Being wrong on everything carries no penalty in the Republican Party. They issued hysterical warnings on debt, deficits, a weakening dollar, joblessness, and another recession unless we pursued extreme austerity budgets (leaving out tax cuts for the rich, of course) – but the EU, which followed that strategy has had double dip recessions and prolonged economic stagnation, while the US, which ignored it, has the strongest economy in the developed world."

Be careful, Mr. Atcheson. If you REALLY believe your own words here, you're a candidate for being conned into buying swampland in Florida as sea levels rise.

Just because the current circus of Republican candidates makes Neanderthals look sophisticated doesn't alter the fact that a lot of Dems. enabled Wall Street to fleece not just U.S. citizens, but much of the world... in a silent scream that keeps on generating more "Austerity."


#7

To the extent that voting machines produce reliable outcomes and Supreme Court justices don't determine the public's mandate... this would be true. However, to argue that it is invariably true, is another fallacy:

"In the end, the only thing that can trump money in politics is an energized and educated electorate. People who say Sanders won’t be able to enact his ambitious agenda don’t understand one thing: the only way Sanders wins, is if he gets the 50% of people who’ve given up on politics back into the game. If they show up at the polls, then Bernie wins, and we get a dramatic turnover in Congress. If they don’t, then Bernie loses and we get the same ol’ same ol’ Congress, and the PAC politics that are destroying the country."

This article is full of Lots of guarantees that lack substance, Mr. Atcheson.


#9

I love how you phrased this. I think you are right. Somewhere I read that unlike most of American history, most of the economy today is now in "financial services" which is a bare-faced euphemism for a Ponzi Scheme, where Enron-type scams like the circular Raptor Funds are fine as long as everything is going up... but when the chit hits the fan, it's always the taxpayer and the poor citizen who is left holding the bag.

I really hope Obama just disappears into the talk circuit after destroying Liberty. What worries me is that his ninth cousin on his mother's side, GWB, showed him how to loot the US treasury his last 60 days in office.

"The economy is fine. The economy is fine. The... Holy Chit! We have to bail out the banks or you will all loose your jobs and houses!" - GWB on the eve of the greatest Bank Heist in history


#10

Thank you for the compliment.

I often ask myself which will be worse: the implosion of the fraud-based faux economy engineered by the same entities that used Phil Graham as a lever... to pump Bill Clinton into signing onto the evisceration of the Glass-Steagall Act. That Act was put into place for the sole purpose of avoiding another Great Depression.

OR... if the "award" will go to the collapse of nature, and that includes seasonal rotations harmonic enough to sustain crops and rainfall patterns balanced enough to sustain livestock. All things are at risk when it comes to the prior weather and seasonal patterns that allowed so much to thrive.

The third tier of a paradigm in likely stages of inevitable collapse is the net impact of so much trafficking in arms... on a global scale. Toss in all the angry, betrayed, hungry, homeless, jobless, disaffected people and the recipe is in place for probably one of the goals the elites hope to engender: population reduction.

To stay sane, I've been writing comedy and I think I have a gift in this area. Let's see if a new Literary Agent agrees. (Fingers crossed!)


#11

Best Wishes on your Comedy Endeavors! As screwed up as this society is, I'm sure you will not lack for hysterical material!

Radiation off the West Coast is off the charts and everything seems to be kicking the bucket. People are reporting 1000 CPM's 100 miles inland! China is building another 100 nuke reactors at the behest of Japan-owned Westinghouse, so I expect a lot more Fukushimas in the future. Let's enjoy life while we can! I say go for it!

Every day above ground is a good one!

Your friend,

TJ


#12

I have seen this theme in the media lately that O'Malley is the better candidate. I wonder if this is to draw younger people away from Sanders? O'Malley's answers are so canned-and as Hillary so comically pointed out raised a lot of money from wall street.-----Its interesting how the media ignores the main issue raised by Sanders in the last debate-campaign finance reform-stop legalized bribery. And some people won't understand this but many people don't know about all the money Hillary Clinton has received from these banks. After the debate Clinton's numbers went down. I hope Sanders challenges the media to make this and issue. How can Clinton represent the people after taking all these bribes?