- The American people must quickly understand this one
reality: that the economic policies of Barack H. Obama are essentially
identical to those of Herbert Hoover's ill-starred Reconstruction Finance
Corporation, which bailed out bankrupt banks in a totally futile exercise
between 1931 and 1933.. Obama is doing the same thing as Hoover ; bailing
out a hopelessly bankrupt zombie banking system, this time with trillions
of dollars, while further destroying the productive economy of the United
States in this insane giveaway to those who caused the crisis. Unlike Hoover,
Obama has put some popular programs up as camouflage for the massive giveaway
to the derivatives mafia that is going on in the background under the auspices
of Geithner, Summers, Bernanke, and Volcker.
-
- The present problem is that Obama is more dangerous than
Hoover . This is because Obama has people fooled into thinking that he
will initiate New Deal policies and leadership akin to FDR to deal with
the present financial meltdown crisis and depression. Consider that the
stimulus package offers a measly $45 billion towards infrastructure projects
with very limited $20 billion increase in food stamps and a microscopic
$18 billion of welfare benefits needed in this crisis. These crumbs allow
Obama to continue to present the image that he is some sort of populist
from the left, while Obama provides massive welfare for the 'Zombie banks"
on Wall Street to the tune of 10 Trillion, no questions asked.
-
- Here is the breakdown of the giveaway: Federal Reserve
$8 trillion, $5.5 trillion, Bush-Paulson TARP- $.7 trillion, Obama-Geithner
derivatives bailout $.75 trillion, carbon cap and trade tax
scam $.65 trillion - the next bubble. Geithner's undisclosed phase 2 will
be at least at least $750 billion, but will soon spiral into the trillions.
Thus the beginning of Obama's era of his 'responsibility' to the derivatives
speculators first.
-
- To keep the charade going Obama has launched into an
attack on the reactionary Rush Limbaugh, Wall Street's right wing enforcer,
who is all to eager to continue to mislead people about the true nature
of the present crisis. Obama and Rush are working together, in a false
polemic that divides people and prevents real solutions from being discussed
and implemented. Rush provides Obama with the left label and cover that
he needs to implement policies that Rush and the right could never deliver
for their same Wall Street masters. Yes, both are creatures of Wall Street,
Obama the Keynsian Malthusian, and Rush the Austrian School free market
Malthusian. Rush will freak out about increases for food stamps and the
paltry help that Obama will give to a fraction of the foreclosed, but not
a word about the real problem: the $ 1.8 quadrillion dollar derivatives
bubble black hole which Obama is feeding with the U.S taxpayer and economy
as collateral. Why is Rush not freaking out about this real tax increase
and enslavement? The answer is that he really approves of it.
-
- Derivatives are at the center of this financial meltdown
and economic depression. Derivatives are financial instruments that are
based upon a fictitious reality that does not correspond with activities
that yield tangible wealth and economic progress. Derivatives are essentially
exotic betting practices that involve real money, thrown into a huge pool.
We are talking quadrillions of dollars, sums of money that can never be
repaid, even by the combined GDP of the world. Obama is giving the "Zombie
banks" trillions, where nothing will satiate the speculative derivatives
black hole, while at the same time it is estimated that trillions are needed
to keep people in homes and factories producing. The fact already seen
is that the trillions from the Fed, the TARP's have done nothing to stop
the economic depression. That money will never be recovered as it is already
lost to derivatives speculation.
-
- The only solution is to outlaw all derivatives once again.
They were once illegal, until 1982 when options trading in commodities
was introduced and later in the 1990's when Fed Chair Alan Greenspan created
and fed the fictitious derivatives racket.
-
- Along with outlawing derivatives, the responsible approach
to this crisis is to force the derivatives investment houses, the Wall
Street banks and hedge funds, into bankruptcy organization, wiping out
the bad dept with one stroke of the pen. Instead of doing this as he could
and should have, Obama has instead rewarded these criminals with more trillions
of taxpayer money, money that should be invested in infrastructure, by
the trillions.
-
- The fact of the matter is that Obama has proven that
he is no FDR, but a Hoover money vacuum for Wall Street derivatives 'zombie'
banks, to which he blows the nation's wad, and thus the chance for a real
economic recovery.
-
|