I’m about to throw up listening to some of these clowns on The Hill this morning, particular Maurice Hinchey (D-NY-22) who is emitting nonsense from his pie hole as I write this.
Let’s make this simple so everyone can understand.
We hear that “austerity” is bad — and unacceptable.
It is, as it has been implemented in places like Greece, as I have repeatedly noted.
In Greece and many other cases “Austerity” is defined as pulling back government spending in the public realm but retaining the spending in the form of transferring money to the banksters who foolishly lent against nothing and, absent that support, would collapse.
What this means is that all these policies are doing is in fact stealing the production of the common man and woman and giving it to the banksters.
There is no means to avoid the contraction in the economy that must come from the removal of unsupportable debt. When that model fails — and it always does and must, as mathematically it is impossible to grow debt faster than production and not have it blow up in your face, all you will be faced with is the same contraction, plus more, but in the meantime your wealth and production will have been stolen to pay off the banksters!
The choices are not between “austerity” and “stimulus” or anything of the sort.
Again, there is no avoiding the contraction in both debt and GDP that must take place. The only question is whether you’d like to allow the banksters to steal, using the power of government, more and more of your wealth and income before the contraction takes place, effectively paying off their bad bets and forcing you to cover them twice!
That’s all folks. We’re not arguing over whether we should take path #1 which will result in economic contraction or path #2 which will not.
We are arguing over two paths which will both lead to severe economic contraction but in one case you will stop handing over your wealth and income to the banksters who knowingly made bad loans and accept the contraction now and in the other you will be bankrupted by these transfers under the false claim that contraction can be avoided and then take the contraction, materially increasing your pain!
The “no pain” path is what Greece was sold and now, after two years, the truth has become evident: the (intended) outcome was “no pain for banksters, everyone else starves.”
This was not an accident — it was in fact by design and was a fraud sold to the Greek people just as it has been sold to America!
The reason to take the contraction now is that it shuts off the theft of your wealth and income that is then given to the banksters. Either way the contraction will come because it mathematically must. But only through the jackboot of government and Fed intervention can you be forced to cover the banksters’ bad bets by having your purchasing power stolen.
The issue before us is simply whether those who intentionally made bad loans and bad bets will be forced to eat them through removing the intentional excess liquidity (which is stealing your wealth and income every single day) or whether you will be forced to cover them as well as suffering the inevitable consequences of the contraction.
Approximately $3,000 has been stolen every year for the last four years from every man, woman and child in this country through intentional deficit spending and debasement for the benefit of these banksters, yet the economy has not recovered. We cannot recover that which was stolen but we must stop the stealing now as this theft has and continues to damage the common American every single day it continues.