Category Archives: economics

Oligarchs and the Free Market

The idea is going around, pushed by the New Economics Foundation, Half Sigma, and others, that bankers are worth less than janitors to economic growth.

While janitors have a wealth creation – to -pay ratio of 10:1, speculators are net drains on the world economy

Rather than being wealth creators bankers are being handsomely rewarded for bringing the global financial system to the brink of collapse

Paid between £500,000 and £80m a year, leading bankers destroy £7 of value for every pound they generate.

There is no question that our economic crisis is a direct result of the Oligarchs (a) betting money they did not have, and (b) illegally colluding with the Treasury Department to bail them out for those bad bets.

If the US Government had been serious about protecting a ‘free market’ system of the national security crisis they created, it would have destroyed the wealth of the Oligarchs companies, and drafted the needed bankers until such time as the wealth they had destroyed had been restored. However, the US Government is not concerned with reestablishing a free market system. The Treasury Department has been captured by the Oligarchs.

Obama’s America, the Good and the Bad

To the extent that the current American economy is in crisis, it is one with the productive forces of the economy (businessmen, scientists, engineers, and so on) have been consistently attacked by the parasitic forces (speculators and politicians). Now, given our Republican form of government, these parasitic forces play a useful role: they prevent the government from adopting the sort of coherent policies that could lead to the elimination of the productive forces. Still, the parasites make us worse off.

Our situation compares unfavorable to the People’s Republic of China, which instead of giving billions to the Oligarchs, is opting out of the worldwide recession through massive investment. This is especially bad, considering all the areas where we could invest (instead of simply spending billions rewarding those who supported Obama). We could develop complex new drugs, investigate subtle genetic associations, expand our knowledge of space, or of race, and supporting nuclear energy.

Indeed, we waste billions on banks, but arrest Americans who refuse to turn their homes over to front companies of the federal government. Obama’s policy of Lemon Socialism is turning homeowners into criminals while giving actual criminals billions.

As Judge Rakoff said, this is all half-baked justice at best.

Fortunately, we are not completely adrift under Obama. Private space exploration continues, high-tech industrial collaboration with China moves ahead . And it must be said that under Obama, Bush’s unprecedented attack on our existing public education system has only gained strength, Brookhaven National Lab is heating atoms to four trillian degrees celsius, video game weapons are in development, Western Digital is conquering quantum space so you will never need to delete an episode of LOST again, Google builds futuristic AI models, and Microsoft expands from just Office and Windows to amazing online services.

In other areas the parasites seem only able to slow down progress, as Google once again tries to digitize our literary past, record companies delete legitimate blogs, lawyers sue companies for not having a politically correct workforce, and the FDA slows down approval of generics.

The Growing Isolation of Barack Obama

The last 24 hours may prove to be the most catastrophic day yet for the political fortunes of Barack Obama.

Yesterday, in a bitter move, Even Bayh (D-IN) withdrew from the Senate race, forfeiting his seat to the Republicans and giving his party only four working hours to find a replacement.

Then today, news came out that China has decided to scale back its bail-out of the US Treasury (which needs the money, because of the bailouts of Obama campaign supporters, such as the Detroit and Wall Street speculators).

Obama has known since the beginning that he is selling our country to the Chinese to pay for his expansion of the Welfare State. I wonder if the Law Instructor was smart enough to know that he was selling his own agenda, too?

The Obama Economy

The common theme of this video and this news

… is that powerful people are taking our country away from us. Whether it’s Tim Geithner’s friends looting the Treasury, or the Obama White House claiming that it has the exclusive right to license public domain images, the arrogance of power coming from the White House and Treasury Department is awful.

The Purposeful Destruction of our National Infrastructure

The infrastructure of our nation — our science and our markets — are being dismantled to enrich Friends of the Administration

The Colbert Report Mon – Thurs 11:30pm / 10:30c
The Word – Honor Bound
Colbert Report Full Episodes Political Humor Economy

Capitalism and markets work. Innovation works. It is the fast-pace of innovations in videogames that lets a $99 Wii balance board outperform a $17,885 medical device in tests. Science lets us build machines by the atom

Instead, we destroy our markets and our scientists by subsidizing casino cronyism. The HUD announced it will subsidize house flipping

While it’s funny that our country is so science-illiterate that an 11-year-old’s science fair project leads to a lockdown, bomb squad, and suspension. But there’s nothing at all funny about what the Oligarchs are doing to our country.

So what do we do?

*: Fire Bernanke.
*: Celebrate those who refuse to transfer wealth to the Friends of the Administration
*: Take away this Administration’s super-majority in the Senate.

Fight the Oligarchs. Fire Bernanke.
Fight the Oligarchs. Fight the speculators.
Fight the Oligarchs. Defeat Martha Coakley.

The Child Pornography Bailout

In Minneapolis, there was a “security scare” when airport security discovered a bag that belonged to… airport security.

Across the country, we are install machines capable of taking high-resolution 3-dimensional nudge images of children.

There is another universe, in which incompetent government workers are dismissed, where major contractors are not chosen by naked favoritism, and where the new airport security machines will not become the most lucrative black market source for 3D child pornography every discovered.

We do not live in this world.

Obama will not push through reforms that would end political favoritism.

He’s too busy bailing out failing companies.

Capitalism is the system of destroying failures.

Our political class is in the business of supporting them.

The New Year

It is now the Year of Our Lord  2,010.

The series of disasters and catastrophes are country has faced in the past year is entirely predictable, in retrospect, given that the year began with Secretary of the Treasury Hank Paulson and ended with Secretary of the Treasury Tim Geithner.

Some good things are happening at the strategic level. Bush’s handling of the War on Terrorism has been so subtle and adept that it is hard to imagine a grand screw-up. And on education, Obama has taken the baton from President Bush, and pushed hard to give us a real education system, starting with taking as much decision-making authority as possible away from teachers, school districts, and states.

But with regards to economics… I’ll let our President’s European friends do the talking…

Today, his historic Health Reform is being passed through the American Senate – a welfare policy breakthrough that several of his predecessors have been unable to manage.

Obama’s greatest accomplishment so far has been his “breakthrough” push to expand the Welfare State. With regards to finance, he appointed traitors such as Tim Geithner to high positions. Ben Bernanke will keep his job. The looting of America by the Oligarchs will continue — indeed, it’s accelerating.

No one can seriously believe that the actions of Goldman Sachs CEO Lloyd Blankfein have been less harmful to our country than, say, Julian Rosenberg. No one can believe that Henry Paulson is any more loyal to the country over his secret connections than, say, Aldrich Ames. No one can believe that Tim Geithner is any more honest and capable an official than Aaron Burr.

No one can see a reasonable way out of this situation. As wonderful as Obama ordering the military detention of Geithner would be, that line of thinking is likely to be as productive as the “right bomb in the right place” terrorism that V.I. Lenin dismissed.

America will have a chance to be great. Bush’s foreign policy success, along with the joint Bush-Obama education push, and the wealth we are now spending through will give us this chance. But it’s hard to see how we’re on a glidepath for anything other than an negotiated surrender to the hosts of history.