Thursday, November 13, 2008

Bush Defends Capitalism

Based on our experience of Bush — the Iraq atrocity, the 2000 constitutional coup, the credit pyramid scheme — a W endorsement of Capitalism or the 'Free Market' should be more than sufficient to tell us that Capitalism is a con.

But this is also the United States of Perpetual Faith. So the very 'experts' who assured us that there were Weapons of Mass Destruction in Iraq are still relied upon for 'analysis' of foreign policy. The very 'experts' who manufactured the Credit Pyramid Scheme (Robert Rubin, Henry Paulson, Goldman Sachs, etc.) are now relied upon to solve the disaster of their own making.

So none see any contradiction in (1) proclaiming the glories of our 'Free Market' system, (2) demanding a broad public rescue of incompetent, corrupt billionaires, and (3) demanding that 'free trade' remain unrestricted.

The Great President, while admitting capitalism's lack of perfection, asserted that "by far the most efficient and just way of structuring an economy". Really? To ram down the throats of millions a bill for trillions so that an handful of billionaires can remain billionaires? Talk about taking from the poor and giving to the rich. Is there any precedent in human history for so great a theft from the common folk for the benefit of the elite?

And all under the pretense that the many can only be saved by first saving the few. The irony of this last point is that capitalism does indeed grant priority to the capitalists — the owners, the wealthy — precisely because those few control the business decision-making upon which the rest of us are dependent. But so corrupt is our system that this is true only in principle. We are now seeing the bailout diverted to mergers and acquisitions, bonuses, stockholder bribes. Unemployment skyrockets, wages drop, benefits vanish, retirement accounts evaporate, and to these common disasters the market responds with enthusiasm, as it has for years.

People are now optimistically awaiting an Obama administration that is turning to the same corrupt charlatans that Bush has turned to. The most marked difference to date being an Obama willingness to bail out automobile manufacturers. This on its face might seem like a more honest effort to help workers, but there is a test in this strategy. Will an Obama bailout of Ford, GM and Chrysler include any protections for workers. Or will we see the carmakers instantly take the opportunity to layoff exactly the people they claim to be defending with their calls for assistance?

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