Full Employment vs Deficit Hawks
“Full Employment” versus the Deficit Hawks
The with Deficit Hawks are now out and on full display, and not just in the USA, but in Europe as well as Japan, and where their “worst case thinking” Model is about to go mainstream. And yet, when challenged, these deficit hawks conveniently ignore the fact that “market conditions” is not a decision-making tool for these deficit hawks. Thusly, were these “market conditions” understood properly among the general public, these deficit hawks wouldn’t exist in today’s economic climate. Consequently, the deficit hawks are talking among themselves and thereby reinforcing their obvious mindset as to this ‘worst case scenario” and in which they intend to inflict on the general populace, here in the USA and in Europe, as well as in Japan.
However and in contrast, interest rates at are an all time low and thusly, governments, when borrowing, are borrowing monies at the lowest rates that have been available in many years, and thusly, are saving the taxpayers billions of dollars and done in the course of our self-governance, year in and year out.
Of course, saving taxpayers billions of dollars is not the ‘issue’ for these deficit hawks.
Here in the USA, privatizing Social Security and putting these trillions into the hands of Wall Street, is the actual result to be achieved by these defict hawks.
Now, if the masters of the universe on Wall Street create another financial fiasco for America, the wealth that has been accumulated over the course of these past 70 years, will all be for naught. These monies will disappear, and the investment managers, will again, blame the rating agencies for having placed their respective imprimaturs on these derivatives, while neglecting the original decision-making that took place in order to purchase this worthless pieces of paper. Thus, shifting blame all up and down the line that is known as to today’s behavior on Wall Street, will continue apace, and yet, the “employees derived wealth” will cease to exist, for all intent and purpose. And that’s the actual “intent and purpose” being espoused by the deficit hawks. How they camouflage their behavior for being the inveterate tricksters that they are, is what should be scrutinized and challenged and done vociferously?
Today, if the federal government were to utilize a small portion of the assets in the Social Security Trust Fund, borrow monies at a virtual non-existent interest rate, and ultimately, utilize these monies to establish a “Full Employment Schematic”, the results would be quite significant. To wit, local and state governments would be able reduce their existing deficits, and the federal government would be able to re-capture its initial investment in a matter of months and not to exceed a two-year time frame, and of course, the Social Security Fund would accrue an incredible amount of new monies for future and made availailable to our seniors of today, as well as by our progeny. And parallel to this behavior, the Federal Reserve is charged with keeping inflation low and for advocating employment as part and parcel to its original charter. And for sometime now, it’s been quite obvious to me and to many others that the Federal Reserve has been MIA with respect to employment. To wit, the Fed has been short selling America’s unemployed and all because we, as voters, have not challenged the Federal Reserve and their jefe-honchos. Their Senate confirmations are virtually guaranteed.
Moreover, if a mere mortal like me can “figure it out” I would expect the astute among us, such as President Obama, to respond accordingly in order to adopt and deliver this “Full Employment Schematic” to the American people. Said sadly on my part, President Obama will be listening to these deficit hawks, and unfortunately, most of the members of Congress are in the pockets of the lobbyists representing Wall Street, and not Main Street, and who are unwilling to challenge President Obama for this anticipated and un-artful behavior.
But as mere mortals, we do have a vote in November of this year, as well as in November of 2012.
Now, is it time for us to bring out the political pitchforks and rusty machetes that we have intentionally held in abeyance for all these many years, and which are owned by the ornery and intemperate cusses like you and I?
Jaango—posted on June 8, 2010