As if that wasn’t enough to finally declare the class war, when General Motors, Ford, and Chrysler, who employ millions of blue collar working stiffs had the gall to ask the same Government for even a paltry $25 billion in loans, Bush, Paulson and all the Republicans in Congress suddenly turned back into Capitalists again. All the complex financial double talk in the world can’t hide the basic fact that global Capitalism as practiced over the last eight years has failed. Rich people all over the world lost trillions of dollars and are now trying desperately to use governments to transfer that loss onto the backs of billions of poor and working class people. In its final days, the Bush Administration is trying to hold open the vault doors as wide as possible while the real pirates escape with as much bullion as they can. My guess is that right from the podium of Obama’s inauguration, George Bush and Dick Cheney will board a non-stop flight to Riyadh.
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| The Bush Administration’s Invisible Finger |
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The true genius of Democracy is that where it has had time to establish itself and mature, it affords a means to resolve precisely these kinds of situations without violent upheavals or times of troubles. However, in this event, the Bush Administration, even in its waning days of power, is intensifying its rapacious eight-year war on the world’s poor and middle classes. Like an economic drunk driver, such behavior now represents a real and present danger to places like Russia and Latin America, places without deep democratic traditions or institutions and where such instability can produce unintended and unpredictable consequences.
I remember back in October, laughing grimly when former Federal Reserve Chairman Alan Greenspan, a long time advocate of the so-called “Invisible Hand Theory” of Capitalism testified before Congress. He admitted “errors” and that he was in “a state of shocked disbelief” about the breakdown in the ability of banks to regulate themselves. Now, as 2008, the Bush Administration and its peculiar brand of regressive Capitalism fail, I’m remembering Greenspan’s words and perceiving that the Invisible Hand is trying to give the whole wide World a final, invisible finger.
Dominick L. Auci, Ph.D.
Escondido , California
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