Sunday, February 7, 2010

Greed And Elected Representatives Are Decimating America's Economy

America and the United States Are Two Very Different Entities/Realities - They Are Not One-And-The-Same

MM Book 1 Chapter 5-6

The State is enshrined over, upon, and within the Nation(s) by their various "Constitutions", the very privileged and prejudiced rights of the Nation guaranteed by the State; these "Constitutions" are in direct "violation of God" who has given "Divine-Rights" to each and every Human Being; these Nation-State Constitutions are the very usurpation of God's Rights given to all, they are in "mimicry" of God; they represent the evil-prejudice so necessary to the Adversarial Systemic -- the people comprise the Nation, they are the Nation, but they do not comprise the Nation-State, nor do they control it, they are controlled by it; the Nation-State is comprised of, and owned by, the SAGE-Corporate; the State binds by "ropes" (of debt) and restrains by "chains" (of wealth), the Nation becoming thus the "Nation-State" (the State supported and underpinned by the Nation; the State (the "private") cannot exist without the Nation (the "public")) - our "elected" governments are the selected interface between Nation and State (selected to be elected; SAGE authorized and sanctioned; private interest in public office); State "socialization" of costs onto the Nation imperative (private profits, public debt; the privatization of profits, the socialization of costs; WEALTH CREATES POVERTY) - the western-world Nation-State "interface" is "Democratic-Fascism" - as long as the "public" Nations utilize "State debt-based Monies" based upon "private" Corporate "business", they will be owned and controlled by the State (enslaved by debt-instruments) - MESSIAH (anarcho-communitarian non-profit cooperative society) or MAMMON (the Fascist Corporate-State).

MM Book 1 Chapter 5-15

The “Nation” is considered by most as an “open hand of welcome” – but the “(Nation-)State” is actually a “closed fist” (ie., “America” and the “United States” are in reality two very different perceptions/actualities/entities, though the religion of “America, the Chosen” is utilized to give/take divine sanction to/by the US); the “divinization” of the National Epic/Narrative, the “divine sanction” — War is being redefined in the public mind by “shallow” use (self-serving overt aggression) by “shallow” politicians, ie., the Iraq-Afghanistan War – evil begets evil; all sides fighting for their “God given rights” – the only innocents here are the non-combatants on both sides who are in-the-main the ones being killed; the SAGE seek conflict and unrest as a means of controlled exploitation; take a look around, their Agenda is everywhere — War is Mammon’s “consolidation mechanism”; naked overt aggression, not clothed in any accepted reason; non-justified (complicit) – WAR TO CREATE WAR !! — the progression of war, engendered conflicts as means (the interrelated events, etc.) – the Grimm (the “forces of wealth” need to extricate for their own systemic maintenance/survival (predicated upon debt/profit; exploitation is essential)); wealth protection vs. the vulgaris (the common people) !!

The Nations are in effect a “business environment” conditioned by the “social temperament” — the “elect” corporations are “economic entities” in-and-of themselves with the prerogatives once considered sanctioned by “States” only, ie., private armies and influence — corporate interest is now national interest; the SAGE are the corporate “controlling interest(s)”, the “progenitor wealth” — war is a weapon of weakness and deep spiritual illness — business as “mechanism of/for life”, its “growth and profit” dynamic is a cancer on the social body — the “secular church” is married to the State, the “Bride of Christ” has married the Devil instead; the concept of the separation of “Church and State” is for common consumption to ensure the State “as religion”, the false, selfish and prejudiced idol-god of nationalism and patriotism — “profit” based on “debt-instruments” is systemic bondage to Mammon; business “growth” demanded to ensure “profit” of investment; Mammon’s growth is a cancer on Humanity and will consume us !!

MM Book 1 Chapter 5 web page
MM Book 1 blog home

Markets Fail When Humans Are Unregulated
By Paul Craig Roberts article link
February 06, 2010 "Information Clearing House"

Former Federal Reserve chairman Alan Greenspan answered that he had placed his trust in a flawed theory when he was called before Congress to explain why he, Goldman Sachs Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers, prevented Brooksley Born, head of the Commodity Futures Trading Corporation, a government regulatory agency, from doing her job of regulating over-the-counter derivatives.

The efficient markets theory is that unregulated markets are efficient and rational. According to this theory in which Greenspan placed his trust, unregulated markets produce the best possible result. Any regulatory interference worsens the outcome.

Greenspan blamed his own bad judgment on a theory. The theory, or Greenspan's understanding of it, nevertheless still holds sway as Congress has proved impotent to re-regulate the gambling casino that is Wall Street. Clearly, the theory serves powerful interests.

But what is the truth?

The truth is that markets are a social institution. Their efficiency depends on the rules that govern the behavior of people in markets. When free market economists talk about markets deciding this or that, they are reifying a social institution and ascribing to it decision-making power. Socialists make the same mistake when they blame markets for the results of human action. But, of course, markets do not act or make decisions. People act and make decisions, and markets reflect the decisions and actions of people.

The entire debate over regulation is misconstrued. It is not the market, an efficient social institution, that is regulated. What is regulated is the behavior of people in markets. If you want good results from markets, good regulation of human behavior is a requirement.

The market is like a computer. Garbage in, garbage out.

If people who use markets are not regulated, they issue fraudulent financial instruments. They leverage assets with absurd amounts of debt. They market their instruments with fraudulent investment grade ratings. They deal themselves aces.

Did Greenspan not know this? Was he a victim of a theory or an enabler of greed unleashed by the absence of regulation?

The way to bring socialists and capitalists together is to recognize that markets are efficient and that self-interested human behavior requires social regulation.

The failure to regulate financial markets has produced enormous losses to all Americans except the super-rich. But the U.S. government is guilty of an even greater failure. Washington has not only permitted but also encouraged the unemployment of its citizens by enabling greed-driven corporations to send American jobs abroad in order to maximize profits for CEOs' bonuses, shareholders, and Wall Street.

As Ralph Gomory has made clear, economic theory has been shattered, because there is no longer any connection between the profits of American companies and the welfare of Americans. The profits of American companies are derived from the cheap labor in offshored locations and are at the expense of the American work force.

This dispossession of American labor has been heralded by offshoring's pimps in the major universities as "the New Economy."

The "New Economy" is a hoax like most everything else the bought-and-paid-for-media feeds to Americans. There is no new economy.

There is an unemployed economy. The headlined unemployment rate is just over 10 percent. The real unemployment rate, as measured by the current methodology is 17 percent. The unemployment rate as measured by the methodology of 1980 is 22 percent.

If jobs offshoring is a benefit to America, as the hired pimps of the transnational corporations claim, why is more than one-fifth of the U.S. work force unemployed? Why does the U.S. have the largest trade deficits in world history? Why is the U.S. dollar losing value over time to other tradable currencies?

Greed and elected representatives, who are toadies to special interests, are decimating the American economy.

Consider President Obama's budgets for 2010 and 2011. The combined red ink is $2.9 trillion. No one anywhere in the world has this kind of money to lend to Washington. How will these massive deficits, never before experienced on earth, be financed? They can only be financed by the Federal Reserve destroying its own balance sheet by its purchase of toxic financial instruments from the banks thereby providing the banks with cash with which to buy the Treasury's bonds, or by the Federal Reserve itself purchasing the Treasury's bonds by creating new money, or by another collapse in equity values that sends investors fleeing into "safe" Treasury bonds.

American power is on the precipice, about to fall. Perhaps it is a good thing. The world will be rid of bullying, of invasions of innocent countries based on blatant lies, of torture and murder of woman and children, of redistribution of income from the poor to the rich.

The criminal record accumulated by the United States makes it the least indispensable country on earth.

© Copyright Paul Craig Roberts, 2010

Information Clearing House home page


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