The Joe Blow Report 2

Everything Is About Something Different

Debt Crisis Flimflam

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Day before yesterday, actually Friday, July 22, 2011, I started out listening to Democracy Now. Halfway through the program I listened to an interview with economist Michael Hudson, Pushing Crisis: GOP Cries Wolf on Debt Ceiling in Order to Impose Radical Pro-Rich Agenda.

What caught my attention was this comment by Amy Goodman:

“Meanwhile, more details have emerged about the massive government bailout of the banking industry. On Thursday, the Government Accountability Office issued an audit of the Federal Reserve’s emergency lending programs. It revealed the Fed provided more than $16 trillion in secret loans to bail out American and foreign banks and businesses.”

This is money the Federal Reserve simply printed then used. If you ever wondered why the dollar doesn’t buy as much as it used to, well – there’s your answer. The more they print the less valuable the dollar becomes. Remember, this is printed money on top of all the other bailout money and wars.

Read the complete interview. He details exactly what is going on with the current “crisis,” the so-called debt war between President Obama and the Republicans – what Obama is REALLY doing and what America and the World can expect. Here’s a taste:

“What’s happening across the world is an attempt by the financial sector to really make its move and say this is their opportunity for a power grab. And they’re creating this artificial crisis as an opportunity to carve up the public domain and to give themselves enough money. They’re taking the money and running, because they know that unemployment is going up. The game is over. They know that. And the only question is, how much can they take, how fast?”

Later that morning is picked up the Times-Standard newspaper and read, this masterful piece of invective written by eight brilliant and undaunted people: Progress or protest? We need to work together to move forward.” Their solution for “working together” will take your breath away. The implementation of the flimflam betrayal Michael Hudson explains is demonstrated locally by these eight individual and their class warfare. Classic sheep in wolves clothing.

To conclude, that afternoon I listened to Barack Obama as he spoke to the White House Press Core as he tried to explain why the talks on the debt crisis broke down. Of course, he accepted NO responsibility for what happened. Later, I listened to Speaker of the House John Boehner explain his conduct. He, however, said something rather interesting. He said Obama would say one thing to the public, but when he was in direct talks did something altogether different, putting Boehner in a difficult position. Since under those conditions he couldn’t negotiate in good-faith he had to accept the reality and act accordingly. Based upon my own life’s experience, I’d say John Boehner is the one most likely speaking the truth.

Amazingly, what Michael Hudson talked about earlier that morning was playing out right before my eyes. There’s a crisis alright, but not the one they want everybody to believe we’re facing.

If Michael Hudson has it right, and I’m inclined to believe he does, then this flimflam is about the Rich Elite’s finalizing their looting. They’re really only just fighting over the scraps.
[Source]

–Joe

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