It has been fun to talk of nonsense, believe in absurd theories and act as if up was down and left was right. But all good things must come to an end. It would not be sensible to continue this exercise in fantasy any longer. From this day forward we will only communicate in real terms, speak using words as they are actually defined in the dictionary.
To start with we are not "USA, USA, USA, we're number 1", we are a declining global power that is behind most industrial nations in all the indicators that would make a nation "Number 1". We are at best ranked 25th in health care outcomes and we spend twice as much for this dismal result. Our per capita industrial output (using pre-recession numbers, 2004) is at best mid pack 15th and falling rapidly as manufacturing jobs are out sourced to Europe and the far east. At the beginning of the Reagan presidency the US was the largest importer of raw materials, led the world in exports of finished goods and was the world's largest lender. A true "number 1" among 1st world countries. Today we are one of the largest exporters of raw materials. The largest importer of finished goods. And the largest debtor nation in the world. And this is the exact definition of 3rd world status. And like most third world nations we spend over half our tax dollars on the military. Our military budget is about 47% of the worlds military spending. What we are is "number 1" among 3rd world nations.
So let's get started with our trip down reality road.
To start with corporations are not persons, they are not citizens, they are not people. Corporations are a legal construct, an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members. The whole person, citizen thing was added to a supreme court decision, years after the decision was made, by a court clerk who worked for the railroads. We will talk more about this in a later post.
If corporations were persons and citizens then they should be equally liable under law as any other human citizen for crimes they commit. If they commit crimes of theft or murder they should, if they were persons and US citizens, pay the same penalty as you or I would pay. Have you ever heard of a corporation being removed from society for twenty years for theft, of course not because they are not persons and US citizens.
Now wall street, is a grand casino, running a Ponzi scheme on the side. It does not contribute to American prosperity. Wall street does not produce anything of value for the American people. This collection of "security" vendors masquerading as banks is a net drain on the American economic system. The US government and Federal Reserve bank have given wall street money and power unequaled in history to any need or service they may provide.
The wealthy are not job creators. The wealthy are just people with a lot of money who will do anything to keep that money.
Jobs are created by businesses meeting the DEMAND for goods or services. Supply is what people with jobs create. This idiotic notion that supply creates demand was dreamed up by those that needed a reason to flip normal economic rational on its head so as to promote a tax policy that favored the wealthy over the middle and lower classes. They needed an economic theory that provided cover for transferring wealth to the already wealthy.
Money is not speech. Speech is the faculty or power of speaking; oral communication; ability to express one's thoughts and emotions by speech sounds and gesture. Money is any article or substance used as a medium of exchange, measure of wealth, or means of payment, as checks on demand deposit or cowrie. As anyone, except a right wing extremist supreme court justice, can see these two things are not the same.
So lets agree that even though things may crazy right now, we will at least stop being part of the crazy.
CD
LGMC
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