Goldman Sachs senior executives are arming
themselves with New York gun permits, according to Alice Schroeder on
Bloomberg.com. The banksters "are now equipped to defend themselves if there is a
populist uprising against the bank."
One can understand why the banksters are worried. The company, now
known as Gold Sacks, has a large responsibility for the financial crisis and the
fraudulent "securities" that wrecked the world economy and Americans' pensions.
A former Gold Sachs CEO had control of the US Treasury during the Bush regime
from which he diverted $750 billion to bail out the banks, thus supplying them
with free capital. Gold Sachs made $27,000 million during the first three
quarters of 2009 and is paying out massive bonuses, leaving the busted taxpayers
with the debt and interest charges.
Little wonder the US can't afford health care for the uninsured and
unemployed. It is far more important to finance multi-million dollar bonuses
for investment bankers. I mean, what would we do without
course, it is not really capitalism. It is an oligarchy or a financial
a failed state, the government's priorities are totally separate from those of
the people. The US can't afford health care or a bailout for jobless
homeowners, but it can afford a pointless war and multi-million dollar bonuses
for banksters who wrecked the economy.
The expensive "surge" came 24 hours after the Detroit Free
Press published a 127-page supplement of home foreclosures in its metro
area. In Michigan, 48% of mortgages are on properties that are worth less than
the loan, according to a report from First American Core Logic.
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bad as it is in Michigan, the state ranks seventh in foreclosures, so six states
are in even more dire straits.
Why does President Obama think the US can afford a war in
Afghanistan when the US economy is falling apart? Massive joblessness. Massive
homelessness. Millions of Americans without medical care.
The additional $30 billion for the war comes on top of the $65
billion already appropriated for the year. These appropriations are always
fattened with supplementary appropriations. The true cost is well in excess of
Who's going to pay for it? Democratic Representative David Obey,
chairman of the House Appropriations Committee proposes to raise
income taxes on everyone earning more than $30,000.
This is called "trickle-up" economics. You tax the little guy and
give the money to the armaments companies.
There was a time when Democratic presidents represented the little
man, and Republicans represented business. Today both parties represent the
moneyed interests. On December 3 at the jobs summit with business leaders,
Obama said, "We don't have enough public dollars to fill the hole of private
dollars that was created as a consequence of the crisis."
In other words, all the public's money has been spent on the banks and the
Despite Democratic majorities in the House and Senate and the ease
with which Obama won the presidential election over McCain/Palin, the Democratic
Party has totally collapsed. The Democrats have abandoned every constituency.
Democrats have discarded the American people. Democrats, in pursuit of campaign
contributions, represent the moneyed interests on Wall Street, the munitions
companies, the insurance companies, the agri-businesses that have destroyed
independent farmers, despoilers of the environment, unaccountable police, and
the builders of detention centers. The exception is Rep. Dennis
The Democrats have become brownshirt
The American people, except for the one percent of super-rich, have
Obama had a different message during the presidential campaign. On
May 4, 2008, he went to Elkhart, Indiana, to sympathize with the unemployed. On
February 9, 2009, just after his inauguration, he returned to Elkhart to
"You know, we tend to take
the measure of the economic crisis we face in numbers and statistics. But when
we say we've lost 3.6 million jobs since this recession began -- nearly 600,000
in the past month alone; when we say that this area has lost jobs faster than
anywhere else in America, with an unemployment rate over 15 percent; when we
talk about layoffs at companies like Monaco Coach, Keystone RV, and Pilgrim
International -- companies that have sustained this community for years -- we're
talking about Ed Neufeldt and people like him all across this
"We're talking about folks who've lost their livelihood and
don't know what will take its place. Parents who've lost their health care and
lie awake nights praying the kids don't get sick. Families who've lost the home
that was their corner of the American dream. Young people who put that college
acceptance letter back in the envelope because they just can't afford
"That's what those numbers and statistics mean. That is the true
measure of this economic crisis. Those are the stories I heard when I came here
to Elkhart six months ago and that I have carried with me every day since. I
promised you back then that if were elected President, I would do everything I
could to help this community recover. And that's why I've come back today -- to
tell you how I intend to keep that promise."
What's the story in Elkhart nine months
after President Obama reaffirms his promise? "Long-term unemployed face
Lawrie Covey, 58, has been
out of work for two years. "I can't even get a job cleaning rooms at a local
motel." Her son, who was night shift foreman for a local manufacturer and who
lost his job after eight years, was splitting the rent. Winter is upon them,
and the heating bill is rising. Their transportation is 20 years old and needs
a new radiator. Both her and her son's unemployment benefits have run out.
Lawrie Covey has fallen back on her experience growing up on a firm. She is
raising chickens and picking wild mushrooms and has a garden. If she makes it
through the winter, she hopes to get a couple of baby pigs to raise to see them
through the next year.
Lawrie Covey, to whom
President Obama made a promise could just as well be an Afghan peasant. She
doesn't count any more than the thousands of Afghans who have been murdered in
their sleep by US air strikes on "terrorists."
She voted for a president
who spent all the money on wars based in lies and deceptions and on Gold Sacks,
the richest institution in the world.
The maniacal left-wing
hates Ronald Reagan because "he cut taxes for the rich," but Obama is loading up
the poor with enormous debts that imply hyperinflation in order to make Gold
Sacks too heavy to lift and in order to reward the munitions industry for its
service to world peace and American hegemony.
Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His books, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available (more...)