Comment of the Day
Okay, comment of yesterday I'm a bit behind, by i on the ball patriot at Naked Capitalism in response to tan Edward Harrison post (internal block quote markers are mine):
Edward Harrison said:
Barack Obama has now come clean about his thinking on why his administration has decided to focus first on reducing the deficit and next on jobs. He fears a double-dip recession will occur if foreigners lose confidence in the U.S. dollar, causing interest rates to spike.
This is nonsense and it demonstrates how much at odds Obama’s economic thinking is with reality. This is the clearest indication that the Obama Administration doesn’t understand how modern money works. In fact, by focusing on deficit reduction, he has increased the chances of a double dip instead of decreasing them.
I think the Obama Administration understands very well how modern money works — and they don’t give a rat’s ass about a double-dip recession as it will be just another part of a well crafted (and well executed thus far) program to decimate the global middle class so as to reduce global consumption and consolidate power into a two tier ruler and ruled world. Obama is simply the current flunky con man actor in the decoy illusion that masks the machinations. Breaking past promises made for social programs and reneging on those obligations; pensions, social security, medicare, etc., is well under way and is a very obvious incremental component of the overall plan. You are getting the liquidation scenario, but it is the middle class that will be liquidated.
Addressing this problem in the very limited framework of economics, that includes only the “private sector, the public sector and the foreign sector”, without looking at the far more pivotally important — and now all pervasive — “corruption sector” as the driving force of societal direction is a distraction and a disservice to your readers. This disservice is especially so when you consider that whatever course you ‘advocate’ is a fantasy that will never be implemented because you have a totally ‘non responsive to the will of the people government’.
We need a path advocated to responsive government.
Deception is the strongest political force on the planet.
Does Obama not understand the economic suffering of the middle class or does he understand all too well? Or is it something in between? A debate, it seems to me, similar to the debate over exactly how weak are the Democrats.