ANGST, ANGER AND IOUS

Classism is as dear to contemporary Americans as it

is to their cousins across the Atlantic Ocean. Being "middle class" is a revered status in America. Almost all ambitious politicians at least pretend to cater to, defend the values of, and pledge to preserve the American middle class. The middle class is deemed essential to keep the debt-machine going. Yet, they are also the primary prey of Wall Street, the large aggressive banks, and their entourage of allies and agents in the debt-mongering businesses. Since almost all ambitious politicians have taken a de facto pledge to preserve the great aggressive banks, they automatically find themselves in a squeeze during economically troubled times, such as we have now. I sense that these politicians, counseled by the systems predators, will find a way to put some "mustard" on a fastball piece of legislation, and a misbegotten balance will be brought into being once more on the American (and global) Serengeti savannah.

The economy of the United States of America is presently based on transfers, or swaps, of instruments of debt discharge. Debt extinction is not viewed as healthy or desirable. With debt discharge the individual or company is made free of the debt obligation, but the debt obligation continues to exist and is the burden of someone else. With debt extinction the debt itself ceases to exist. However, since that debt also represents a stated amount of "U.S. Dollars" (plus interest, usually), the extinction of the debt also extinguishes an equal amount of U.S. Dollars. This means that there is not as much money circulating through the political economy. Further, since in the American system of fractional banking loans automatically generate the wherewithal for additional loans, minus the Federal Reserve Deposit mandated, then an extinguished loan may well put pressure on other loans. When these pressures build up enough, breaks appear in the expansion "balloon," leading to implosion, which can be frightening in its quickness and ability to spreadout.


The Loanshark's Principle is: Never let them off the hook. A loan by a loanshark should be made at a high interest rate that makes paying off the principal difficult. This is good business. A long-term relationship is created. Regular interest payments ("vigorish") make for a predictable financial calendar year. If a payment is missed, then this awkward situation can be turned over to enforcers. It is a rather effective tactic, whether "inside the law" or outside it. One important distinction is that those who turn to loansharks cannot avail themselves of an underworld bankruptcy court. There is some evidence that politicians are trying to help lenders under the law to get their principle and interest by altering bankruptcy laws to favor the predators.


While driving, I heard a wise man on the radio speak about our present economic problems. As the case usually is, his thoughts were about the "weakened" banks, suffering from "toxic loans" they had developed while sharing peculiar, intimate documents with a stranger. Naturally, some "lip-service" was offered in regard to unemployed and threatened workers. This financially insightful individual noted that "credit is the fuel of our economy." What he didn't note was that we are almost always running on empty. The citizens don't know that. Our financial system is a grand illusion in which people are led to believe that they see something that, in fact, isn't there. Provided a few scattered dots, the citizens themselves draw the dots into the image they want - or someone else says is there. A nation of sheep will follow the lead of the illusionists.


Gaining something real and valuable as one's own possession is a common desire. The Wizards of Wall Street have learned how to gain these things with basically --- NOTHING. Our "educated crowd" chuckle at the delusions of medieval alchemists trying to make gold from dross. They never perceive that modern alchemist do it every day. They are getting incredibly rich every day, while handing the credulous middle class a bag of dross.


In times of darkness it is not amiss to reflect upon the small boats filled with Christian faithful chancing the fearsome North Atlantic Ocean. Surely, in their hearts were the words of Joshua:


Behold, I have taught you statutes and judgments, even as the LORD my GOD commanded me, that ye should do so in the land whither ye go to possess it. [Deuteronomy 4:5]






April, 2009