Power of Story
Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (2 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   5 comments
OpEdNews Op Eds

Economic Crisis Worsens

By       Message Margaret Kimberley     Permalink
      (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

Well Said 1   News 1   Interesting 1  
View Ratings | Rate It

opednews.com Headlined to H4 2/4/09

Author 12289
Become a Fan
  (4 fans)
- Advertisement -

"Americans are losing their minds when they might alleviate their depression by taking to the streets."

With state and federal governments effectively broke and the new president "about to turn over the next round of bailout money to the financial services industry... Americans are stuck in a morass of apathy and ignorance brought about by corporate media disinformation." Americans are "singularly unprepared to do anything they should do in order to save themselves" - like make demands on the system. Citizens of other nations are taking to the streets, demanding relief and redress. But not here, where citizens "are enthralled by a man who explicitly instructs them not to confront the people and institutions that have brought them to the brink."

The American economy continues its slide to new depths of brokenness and dysfunction. January 2009 was the worst January ever for the benchmark S&P 500 Index. In the last week of that same month, major corporations announced the layoffs of more than 100,000 workers. The state of New York is borrowing funds in order to pay benefits to an ever growing number of unemployed. The state of California can't pay anyone anything, sending IOUs in lieu of tax refund checks. The other 48 states are in similarly dire straits. The federal government is broke, yet the new president is about to turn over the next round of bailout money to the financial services industry without any demand that working Americans benefit from the continued public largesse.

- Advertisement -

While Americans focus on nonsense, the worldwide economic crisis strengthens its grip. Fortunately, citizens of other countries are not going quietly into the night. The usually peaceful people of Iceland threw out their government after international banksters destroyed their economy. The French, never shy about protesting, took to the streets to show their government that they wouldn't be silent as unemployment rises and wages fall. The rest of the world may make demands on their political leadership, but Americans are stuck in a morass of apathy and ignorance brought about by corporate media disinformation.

If the millions of Americans who voted for Barack Obama were to make demands on the system, there might be some hope for the nation. Unfortunately they are singularly unprepared to do anything they should do in order to save themselves. They ought to demand true health care reform. A system guaranteeing access for all would help individuals and also businesses such as the auto industry that are going bankrupt in part because of the cost of health care. Citizens ought to demand drastic cuts in military spending for the nation that spends more on defense than the rest of the world combined. Instead they are foolishly impressed when Obama puts on a show and pretends to be concerned about corporate jets and billion dollar bonuses on Wall Street.

"The federal government is broke, yet the new president is about to turn over the next round of bailout money to the financial services industry."

- Advertisement -

Obama could have had an anti bonus provision in the TARP bail out bill if he had wanted one. As his party's nominee for president, he gave TARP his full blessing. He said nothing that his banker backers didn't like and now pretends that he is shocked, shocked, to find out that his fund raisers like to make and take as much money as possible.

The much discussed stimulus bill is also a meaningless distraction. The "shovel ready" infrastructure projects do nothing to save homes or jobs or loosen credit.  The stimulus bill is instructive only in that it demonstrates how two-faced Barack Obama has turned out to be. He added tax cut provisions to the legislation not because he thought he would get Republican support. He already knew he would not. He added those provisions because he wanted them all along, knowing full well that Democratic House members would look and feel like chumps in the deal making process. Speaker Nancy Pelosi acknowledged as much but demurred when asked if the tax cuts provisions might be removed. "It's something that we can live with," said the House Speaker. Nancy should speak for herself.

Easily fooled Americans were glued to the television watching the Obama inauguration while simultaneous ignoring their own worsening financial situation. Who can bother to look at the fine print on multi-billion dollar deals when HISTORY is being made? Now the same zombified population ignores presidential inaction on bankruptcy "cramdown" legislation that could save their homes, explicit threats to Social Security, and back-tracking on employee free choice for labor unions.

"Obama added tax cut provisions because he wanted them all along."

In their delusion and despair, the only reaction left to non class conscious Americans is to turn on themselves. Murders and suicides are too often the reaction to financial disaster instead of righteous indignation directed towards a failed political and economic system. Americans are losing their minds when they might alleviate their depression by taking to the streets or at the very least giving their elected leaders a piece of their minds.

Americans never had the tools to fully understand the system that is failing them so terribly. Now they are enthralled by a man who explicitly instructs them not to confront the people and institutions that have brought them to the brink. The economic meltdown will continue for a long time and so will the individual meltdowns and disasters for millions of people who will literally not know what hit them or where they ought to turn after the crash. 

- Advertisement -

Margaret Kimberley's Freedom Rider column appears weekly in Black Agenda Report. Ms. Kimberley lives in New York City, and can be reached via e-Mail at Margaret.Kimberley(at)BlackAgandaReport.Com. Ms. Kimberley maintains an edifying and frequently updated blog at freedomrider.blogspot.com.  More of her work is also available at her Black Agenda Report archive page.

 

- Advertisement -

Well Said 1   News 1   Interesting 1  
View Ratings | Rate It

http://freedomrider.blogspot.com

Margaret Kimberley's Freedom Rider column appears weekly in BAR. Ms. Kimberley lives in New York City, and maintains an edifying and frequently updated blog at freedomrider.blogspot.com. More of her work is also available at her Black Agenda (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Syria and World War

Refugees Flee American Aggression

Privatized Ebola

Freedom Rider: Is Trump the DNC Hacker?

Is Trump a White Supremacist? Yes, But So is America

Economic Crisis Worsens