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Fiscal Cliff Postmortems

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Millions were marginalized and left out earlier. Everyone except America's super-rich is vulnerable today. Bipartisan complicity has big plans. 

Both parties want America transformed. Third-worldizing is planned. So is institutionalizing police state harshness. Wealth, power, privilege, and dominance are prioritized. Nothing else matters.

Popular needs are targeted for elimination. A race to the bottom is planned. Repressive crackdowns await nonbelievers. Today's hard times reflect much tougher times ahead. 

It's hard imagining the kind of nation they plan. Much is already in place. Worse ahead is coming. Both sides agree.

Postmortem commentaries followed fiscal cliff legislation enactment. Michael Hudson added Part III to his two-part article. He discussed "Why Today's Fiscal Squeeze Imposes Needless Austerity."

"Public borrowing creates a dependency that shifts economic planning to Wall Street and other financial centers," he said. "When voters resist, it is time to replace democracy with oligarchy."

Prioritizing debt repayment imposes "austerity, depression, unemployment, emigration and bankruptcy."

Popular opposition is quelled any way it takes. Financialized economies are destructive. They're falsely "depicted as a natural way to gain wealth." 

Taking on more debt is prioritized. Tax rules favor bankers and other corporate giants. America's sacrosanct military spending goes untouched. 

Increasing amounts assure permanent wars. Unconscionable annual budgets aren't debated. They're rubber-stamped and enacted.

Something has to give to maintain them. America's social contract is targeted. It's on the chopping block for elimination.

Austerity is policy. Popular needs don't matter. Debt reduction hypocrisy masks exponentially higher levels annually.

Quantitative easing creates "free money." Trillions subsidize Wall Street. Open-checking amounts are readily available.

At the same time, destroying America's social contract is planned. Washington spurns doing the right thing.

Political priorities "encourage financial and rent extraction that has become the major economic problem of our epoch. Industrial productivity continues to rise, but debt is growing even more inexorably."

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.
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Stephen Lendman once again has hit the nail on the... by M.I. Lee on Thursday, Jan 3, 2013 at 8:02:34 AM