Nickel Ranttm:
Billions for
Bankers -
Nothing for
Workers
by Edgar J.
Steele
December 13,
2008
"The
future ain't
what it used to
be."
--- Yogi
Berra
$700 billion to
bail out the
financial
industry!
Actually, over
$800 billion
once they got
done
"sweetening" the
bailout
package. That
is what the US
Congress voted
to allow
Treasury
Secretary Henry
Paulson to hand
over to his Wall
Street buddies,
with virtually
no oversight.
And that was
just for
openers.
The Federal
Reserve and the
US Treasury on
their own have
dispensed
hundreds of
billions more to
financial
firms. What's
more, the
Federal Reserve,
which is a
private company
owned by foreign
bankers, refuses
to identify to
whom it has
given the US
taxpayer dollars
that it has
loaned into
existence out of
thin air
(created from
debt that will
hobble our
children and
their children).
Billions for
Bankers
Literally
billions of
those
taxpayer-funded
bailout dollars
now are being
paid to Wall
Street big shots
in the form of
year-end
bonuses, if you
can believe it,
on top of
multi-million-dollar
salary and
benefits
packages.
Bonuses ...
for failing.
These guys
should have been
fired years ago,
but we allowed
them to take
full control of
America's banks
and corporations
through illegal
payoffs to our
elected
representatives,
who then
confirmed them
into top
government
policy-making
positions (like
Treasury
Secretary Hank
Paulsen, who two
years ago took
hundreds of
millions in
salary and bonus
for his position
with the Goldman
Sachs banking
firm).
Nothing for
Workers
Meanwhile, the
workers of
America - the
very people who
made possible
the financial
industry that
now plunders the
heart of the
American dream -
are facing the
bleakest
Christmas in
memory. Just
two days ago,
Congress refused
to authorize a
mere $14 billion
in loans to the
Big Three
automakers.
Loans that would
have had to be
paid back - not
hundreds
of billions
given simply in
exchange for
worthless
securities and
equity, as in
the case of the
financial
bailout. Loans
secured by the
last truly
productive,
large-scale
manufacturing
plants and
assets in
America, manned
by the last
truly productive
factory workers
in America.
Billions for
bankers -
nothing for
workers.
How typical for
what America now
has become.
Git a Rope!
It is beyond me
why people
aren't marching
in the streets
of Washington,
DC, right this
minute, torching
government
office
buildings. Or
on Wall Street,
hauling out
those corporate
fat cats and
stringing them
up from lamp
posts.
For
years, I have
predicted that
America would
crumble under
its own
financial
weight. For
years, I have
forecast the
"balkanization"
of America.
Never did I
dream that it
would be so
blatant,
however. Never
did I consider
that the people
would allow
America's
governmental and
corporate elite
so openly to
plunder the
wealth of our
country. This
goes well beyond
the thievery
that Boris
Yeltsin
engendered in
the Soviet Union
and which led to
its demise.
Billions of
dollars have
flowed to banks,
ostensibly to
make loans to
American
businesses, so
that they would
hire the
unemployed to
make things that
their
newly-hired
fellow workers
then would buy,
thereby
jump-starting
the productive
engine of the
American
economy. What
are bankers
doing with those
loan proceeds?
Acquiring other
banks or sending
them abroad, to
buy other banks
to loan to
businesses in
other
countries.
Banks also are
loaning those
funds back to
the Federal
Reserve for a
pittance in
interest
payments. But
it does not
appear that any
of that money
actually is
trickling down
to the workers.
Twice the Chance
of Disaster
Today
In the Fifties,
it was unusual
for Mom to be
working, as
Dad's salary was
enough to
support a
family. Today,
it is necessary
that both
parents work.
Why? Because
our government
stole well over
half the value
of the dollar
from us in that
short time span
by printing more
dollars than
justified by
increases in
productivity.
That is called
monetary
inflation, which
inexorably leads
to price
inflation. You
know - the price
inflation that
caused the
purple 3-cent
postage stamp
from the Fifties
to morph into
today's 42-cent
first-class
stamp!
Now, with
unemployment
surging past
15%, far above
the 6% or 7% to
which the
government will
admit (thank
Bill Clinton for
that little
revision in
economic
reporting), we
learn that
losing just
half the
family income is
enough to
engender
catastrophe on
par with
Depression I.
Twice the
workers per
family means
twice the chance
for economic
disaster. Half
the income
simply does not
pay the bills,
let alone put
food on the
table.
Just Say Ho
The workers now
are tapped out.
We can't
refinance the
house again to
pay off the
credit cards.
If we had an
unused
home-equity
credit line,
that now has
been closed. We
can't charge any
more to our
credit cards,
either - Chase
Bank, among
others, just
this week sent
out millions of
letters
notifying
cardholders that
credit-card
limits have been
dropped to just
above our
current account
balances.
Talk about a
credit squeeze.
And the timing
is magnificent
in its irony:
Just as we were
getting
desperate enough
to max out our
credit cards so
that the kids
might have a
little
something on
Christmas
morning this
year. We knew
we had that
credit-card
headroom, small
as it was,
available if all
else failed.
Well, all else
now has failed
and the very
bankers who are
paying
themselves
multi-million-dollar
year-end bonuses
from our tax
dollars (our
kids' tax
dollars,
actually) have
seen to it that
all we get for
Christmas is the
proverbial lump
of coal. Just
say Ho.
What Will It
Take?
What will it
take, folks?
How long before
you figure out
that they intend
to grind us into
the dust and you
decide to do
something about
it? You can't
really be blamed
for re-electing
them, I suppose,
as there was
nobody but them
on the ballots.
But, you can
be blamed for
not doing what
people in other
countries are
doing right
now: rioting
and demanding
the heads of the
corporate,
financial and
government
elite.
Yes We Can't
I was willing to
give Barack
Obama the
benefit of the
doubt
immediately
after the
election, but
now he has
announced his
cabinet
positions and
economic team.
They are
straight out of
the Clinton and
Zionist playbook
and already are
promising more
of the same.
Obama surrounds
himself with the
very people who
created
America's
problems, yet
points to
himself and says
that he,
himself, is the
"change" he
promised.
Sorry, Barack,
it pains me to
turn on you
before you even
take office, but
your actions are
speaking too
loudly for me to
hear you
anymore. Yes
we can't, in
other words.
Incidentally, I
have looked into
all the evidence
and reviewed the
hoo-ha over
Obama's birth
certificate and
the
Constitutional
meaning of the
phrase requiring
that a President
be a
"natural-born
citizen" of the
US and concluded
that Obama truly
does not
qualify to be
President. That
is my seasoned
and professional
legal
opinion, too,
not just that of
some de jure
Constitutional
sea lawyer.
Barack Obama
quite simply is
not a
"natural-born
citizen" of
America. Can
you believe it?
The Supremes
just announced
that they would
not consider the
issue, either.
This fact,
alone, fatally
compromises
Obama and
removes any
possibility that
he might "go off
the reservation"
in the manner
that got JFK
killed when he
went up against
the Federal
Reserve, the
CIA, Israel and
the American
(Jewish) mob.
Regardless,
still I thank
God that McCain
and Palin will
not be taking
over next
month. I have
had quite enough
of nutballs who
claim that God
wants America to
kill Arabs.
We've Been Had
America is
finished. The
American dream
is dead.
We've been had,
folks. Most of
those aware
enough to be
reading these
words know that,
however. It's
the others, the
ones who won't
get off the
couch, turn off
the TV and start
thinking about
what really is
going on, who
are the real
problem. To
them I say what
the old codger
on the porch in
the remake of
Texas Chainsaw
Massacre
said: "Yer
already dead.
Yer jist too
stoopid to know
it!"
New America.
An idea whose
time has come.
-ed
Copyright ©
2008 Edgar J.
Steele
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