The Goldman Age

[mimus]

Obama reappoints Chairman of the Federal Reserve and Goldman Sachs crony
(what else is new?) Ben Bernanke, who oversaw the horrifying speculative
looting of the nation and destruction of the world and US economies via
the Securitized Sub-Prime Morgage Bubble and Oil Bubble and consequent
Wall Street looting of the US Treasury via "bailouts", to a second term,
to continue that looting of America unto destruction.

The American corporate plutocracy is in the driver's seat, no matter who
is President, no matter which Party controls White House and Congress, you
betcha.

And you can forget about any concern about protecting the value of labor
under either Party, even though the vast majority of Americans depend on
the value of their labor, regardless of skill-level, as their sole
financial resource, as always and everywhere, and even though those
Americans are the "consumers" on whose confidence and buying-power
corporate profits and the economy depend.

None of that means _anything_ to the speculators in the driver's seat.

(And just wait until the "Cap-'n'-Trade" Bubble hits!)

--

When was the last time you heard an American politician
use the word "plutocracy"?

http://www.globalresearch.ca/index.php?context=va&aid=8878

http://levin.senate.gov/newsroom/supporting/2006/PSI.gasandoilspec.062606.pdf

http://www.salon.com/opinion/greenwald/2009/04/04/summers/index.html

[Habenae Est Dominatus]

mimus wrote:
> Obama reappoints Chairman of the Federal Reserve

You do know the Federal Reserve is no more federal than Federal Express?

[mimus]

They have a little more economic power than Federal Express.

Power to loot as they please.

Or let their cronies loot as they please.

Especially when the Chairman of the Fed, the President's chief economic
adviser, the Secretary of the Treasury and the head of the Commodities
Future Trading Commission are all Goldman cronies (see last .sig-link).

--

There's no point in gilding this age.

[Habenae Est Dominatus]

mimus wrote:
> On Tue, 25 Aug 2009 18:27:13 -0500, Habenae Est Dominatus wrote:
>
>> mimus wrote:
>>
>>> Obama reappoints Chairman of the Federal Reserve
>> You do know the Federal Reserve is no more federal than Federal Express?
>
> They have a little more economic power than Federal Express.
>
> Power to loot as they please.
>
> Or let their cronies loot as they please.
>
> Especially when the Chairman of the Fed, the President's chief economic
> adviser, the Secretary of the Treasury and the head of the Commodities
> Future Trading Commission are all Goldman cronies (see last .sig-link).
>

I beg to differ on some minor details. Your last paragraph details
present day reality. The creation of the Fed is the past day reality
where the groundwork was laid for the present day reality.

Economic power? Perhaps. But such economic power starts with the
dictatorial power, the power to control the economy by edict. And of
course, such control would be exercised to create economic power.

"If the American people ever allow private banks to
control the issue of their money, first by inflation
and then by deflation, the banks and corporations that
will grow up around them (around the banks), will
deprive the people of their property until their
children will wake up homeless on the continent their
fathers conquered."

Thomas Jefferson, Letter 1802 to Secretary of the Treasury, Albert Gallatin

Federal Reserve Fund Rate History:
http://www.federalreserve.gov/fomc/fundsrate.htm

Other than that, we have no disagreement.