Standing with a cooler than cool poise before the microphones yesterday, Obama delivers a dagger to the American taxpayer.
Banks bailout will continue. Obama will continue to reward the bad behavior of the bad boys in the American banking system and finance world by handing over, no sweat to the bad boys, the hard earned--sweat off our brows, tax payers’ money to them.
Obama excuses his extending our hard earned American’s taxpayers dollars to the bad boys, by saying that, his preference to continue with the Summers and Geithner policies that got us to the place where we are today, ... are "driven by a larger vision of America’s future…”
With one swoop felt, Obama serves us a plate full of his economic vision for the future, where he sees, “ … a future where sustained economic growth creates good jobs and rising incomes, a future where prosperity is fueled not by excessive debt, reckless speculation and fleeing profit, …” and with that, he gives Timothy Geithner and Larry Summers a free hand to continue with their in-your-face arguments and their twisted policies that got us to the unhappy place we are in today regarding their need for bank bailouts.
But, excuse me a minute here. I am no economist. I admit that. But, isn’t Obama’s belief in an equation of, sustained economic growth as the seed for job creation, a bit twisted here? I mean, aren’t jobs, and the people with money in their pockets because they earned, through those jobs the money with which they can afford to buy and pay for those things they bought, ... isn’t that the thing that creates job? Isn’t that the right twist to any equation of sustained economic growth?
So, the banks, the friends of Geithner and Summers et al, can continue doing the same thing they were doing during the Bush administration. There are no serious consequences to the banks for their bad behavior because, hey, they can continue in business, because our hard earned tax dollars will keep them afloat.
There are also, no consequences for either Geithner or Summers for their incompetence and their bold face stealing money from the American taxpayer to rescue err, bail out, these bad behaving banks (their friends) … because, hey, they still have a job and one which, guess what, you and I, and every taxpayer pays them for, even when, if we had our druthers they would not have a job nor the license to continue with their bold face lies and their stealing of our money.
Obama goes on to give Americans stern warning, saying that, “the severity of this recession will cause more job loss, more foreclosures, and more pain before, before anyone of us can expect to see the wondrous workings of the Summers/Geithner economy fix, or of the, “sustained economic growth and … prosperity” envisioned and, promised by Obama if, if, … if we just hold on tight, go without food, go without jobs, go without shelter just so that we can bail out, with our real, concrete, hard earned tax dollars, those gosh-darned banks which created funky money out of thin air and which Summers and Geithner are all ga-ga for.
Logic fails me.
Logic also fails to explain to me how a dollar in a bank that sucks dollars out of the American pocket is going to create eight times more dollars in main street America (when what they are all about is sucking dollars out of the American pocket), especially when I heard nothing about how those jobs which have been offshored by our greedy corporate heads, are going to find their way back in to American soil and the hands, hearts, sweat and pockets of the American worker.
Logic fails to explain to me how the American worker is going to go out and spend dollars in main street America when he or she has no dollars going into his or her pocket. Obama talks about banks starting the loan process, and how the lending process keeps the economy afloat, but how can a worker who has no job ask for a loan that he cannot pay for?
Logic Fails Me!
Obama sees a future … “built by skilled, productive workers, and by sound investments, that will spread opportunity at home…”
Logic fails to explain to me how this future built on the labor of skilled productive workers is going to be built, when our skilled jobs have all been offshored and the jobs that remain are all service jobs where people hardly get paid minimum wages, are grateful to anyone who gives them a tip with which to increase any meager income, put food on their tables and pay for their incredibly high rents, or incredibly high mortgages.
How are we going to build a sound economy when, even many of those service jobs, are now being lost because Americans are not going out to eat as much, they are not tipping as much, they are not going to the beauty parlor or barber shops as often anymore.
Perhaps our trio of Magic Leaders, Obama, Geithner and Summers need to take a reality-check trip in and around any of our cities. The number of empty storefronts all along America keeps growing by the day and tent cities, keep going up in the back of those, now very empty, store fronts everyday.