The Great American Reset

There is a lot of talk of getting Paul Krugman as Treasury Secretary. As Dean Baker points out - ain't gonna happen.

If Krugman were Treasury Secretary we could envision a policy that was focused on creating jobs rather than reducing a deficit that exists almost entirely because of the downturn in the economy.We could also envision a policy that sought to tame the bloated financial sector with a speculation tax that would make much of the creative finance on Wall Street unprofitable. And, we would not have to worry that cutting Social Security and Medicare is the top priority for the Obama administration.

But, Krugman is not on the short list for Treasury Secretary. This list has the names of people who are much more acceptable to Wall Street who, by the way, have been wrong on almost everything important about the economy in the last decade. As a result, we should be very very afraid.

And there is also talk of minting some damn coin to pay off the debt. That ain't gonna happen either. Just like they keep hoping some bankers and Wall Street executives will do a perp walk. But liberals and progressives hold onto to such hopes like a late stage cancer patient does laetrile and massive doses of vitamin C.

You see none of this was the intention or agenda of Washington from the beginning. We can see that now with the re-inflating of the housing bubble. This time in the rental sector.

Some readers have been asking how one can reconcile positive signs in the housing market with declining rates of homeownership. Indeed, homeownership is falling at an even faster pace than during the 08-10 period….The explanation is that so far a great deal of net demand growth in housing has been in rental units. …This demand for rentals is in fact one of the factors supporting the housing market – for every renter there is a landlord who buys a home.

And as Matt Taibbi points out in his current column in Rolling Stone, it was all one gigantic scam. A lie of biblical proportions.

It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it. The result is one of those deals where one wrong decision early on blossoms into a lush nightmare of unintended consequences. We thought we were just letting a friend crash at the house for a few days; we ended up with a family of hillbillies who moved in forever, sleeping nine to a bed and building a meth lab on the front lawn.

It was never the intention of Washington to temporarily save the banks. The whole point was to continue on as if noting had happened. A giant reset button as it were. No fixes, no regulations, nothing. But everything back the way it was and continue this fascist, fraud that has been perpetrated on the American people. The whole thing was a scam. They lied about the health of the banks. They lied about the bail outs being temporary. They lied about the bonuses. Everything.

But this should not surprise anyone. As Oliver Stone points out in his series Untold History of the United States - and as anyone who has read anything by Howard Zinn would know - Washington has been lying to us all along. From the beginning of the industrial revolution at least.

All to keep Wall Street and corporate America in the green. The same fine folks who were supporting Nazi Germany, Fascist Italy and Franko's Spanish armies with oil, weapons, steel and vehicles prior to and even after our entry into WWII.

There are those who think we have become fascist. Personally I think we always were. It's just more obvious now and the propaganda more intense.




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And you have just got to read Dmitri Orlov's current post.

cmaukonen's picture

He really cuts the US to pieces to small to find.

Now, on the question of democracy, Western media have tried their best to paint the recent Russian presidential election as riddled with fraud and therefore illegitimate. Like having the Supreme Court effectively annul election results and appoint the president by court order... oh wait, wrong country. In fact, in the elections last autumn, Putin was elected president by a landslide (he's popular, you see) for a third term, after sitting out a term as prime minister, per Russian constitution. As Putin himself pointed out, if he were a tyrant, he could have just changed the constitution. Sure, there was plenty of ballot-stuffing and other irregularities, but the more important point is that none of the other candidates posed a viable alternative to Putin, making the question of whether one likes him or not rather moot. Reminds me of another election that took place last autumn: Obama got reelected because Romney turned out to be a bit too much of a scoundrel. He is a corporate hostile takeover artist by trade, and apparently the US isn't quite ready yet for a corporate hostile takeover. (But let's check back in four years.) The other non-option was the third-party candidate Ron Paul. Now, there is an eerie similarity between these alternatives to Obama: apparently, they are all Ayn Randians.
Ayn Rand was a mediocre Russian-born novelist whose quest in life was to propagandize free market capitalism (as if that were something that one ever needs to do) and to denigrate all other forms of social organization. She stood firm against all forms of mutual aid and social support that could not be effected via the unfettered free market. The avowed free marketeers Mitt Romney and his running mate Paul Ryan definitely had Ayn Randian leanings, and it is hardly an accident that “Mitt Romney and Paul Ryan” is an anagram for “My Ultimate Ayn Rand Porn.” And what about that other non-option, Ron Paul? What did he choose to name his son? That's right, “Rand.” Now, for me, fervent passion for the works of Ayn Rand has served as an accurate litmus test for a mediocre mind. The best that Ayn Rand's thinking can offer is a way of getting in touch with one's “inner asshole”: if you are the sort of person who is driven to distraction by the idea that somebody somewhere might be getting a free lunch at public expense, Ayn Rand is there to help you nurture such feelings. Ayn Rand is beloved of America's self-styled “libertarians.” The real Libertarians were socialists, but Americans have a way of borrowing words they don't know and then using them to mean things they don't understand, like saying “football” instead of “hand-egg” and then having to say “soccer” instead of “football,” never mind that the entire world finds this unintelligent and impolite. As the character Inigo Montoya put it in the film The Princess Bride, “You keep using that word. I do not think it means what you think it means.”

Don't you just love it.

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The main reason it looks different than in the past

geomoo's picture

is that people eagerly run to receive their propaganda for over 5 hours a day, making social control much easier and making it very hard for people to figure out the true state of affairs. No need to blame the jews. Almost anyone can be blamed, and the scapegoat can be shifted around from month to month.  The only necessary point is that it's not the fault of the vultures picking our carcass clean.

And btw, I include creation of certain emotional states propaganda, even when it's devoid of a specific message on the level of thought, although there are plenty of those.  My wife was sampling a vile evening soap opera last night with a name that should frighten any thoughtful citizen, representing as it does such degeneracy, Deception.  In the part I heard, a cop exclaimed, "The feds have been trying to get him for years on stock manipulation."  What?  The feds working overtime to nail people for stock manipulation?  Sounds nothing like the America I know.  Anyway, I call that propaganda.

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Big Al's picture

One of the best propaganda efforts ever was to manufacture consent for WWI.  In reality, the country is based and founded on lies.  (All Men are created Equal).

Now they've given up most pretense.  Blatant, out in the open, Full Monty, in your face.  They have the police state to shut anyone up if they get too out of hand. 

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