IS A VULTURE CAPITALIST COMING TO SAVE US?

You all know we don’t like most politicians, most big corporations, or private equity firms like Bain Capital.  Mitt Romney is counting on your ignorance of finance (and not doing your own research), and quite honestly, we think he’s succeeding. 

There were people that predicted (or foresaw) the financial crisis of2008, but no one was really listening.  Part of the reason was most people have absolutely no idea about things like finance, or economics, or how the economy works, or what WallStreet is about, or have knowledge about credit default swaps, or derivatives, leveraged buyouts, etc.

What they do know is that they don’t know how to budget, that they try to keep up with the Joneses, that the price of gas has gone up, … basically they know they are screwed because they know nothing about finance, or Wall Street, or how the economy works, or debt and deficits, or how to live within their means. 

The Joe Scarboroughs, and FOX (cable) news idiots (although there was one Fox smart guy), and CNBC whoevers, and contributors to Forbes, financial journalists, etc etc etc still are completely clueless how we prevent 2008 from happening again, and wouldn’t recognize the signs again, even if it smacked them in the face.  All they seem to care about are a bunch of people making money and huge profits, and essentially that’s all Mitt Romney cares about when it comes to the economy.

What he does know, is how to use other people’s money (borrowed money) to loan it to businesses, so he can siphon off some of the profit (or most of it depending on what it says in the contract) and collect a fee; but that’s not creating a healthy economy, … Is it?

It’s disingenuous and hypocritical to hear people like Romney talking about debt and deficits, when basically he got filthy rich using investor's (borrowed) money to loan it to businesses (so they’re now in debt). 

We’ve got a few videos for you to watch.  Definitely watch MattTaibbi’s segment on “Democracy Now”, and the video about debt/deficits.

All Things Mitt


Debt and Deficits

DEBT KILLS

Republicans love to talk about the deficit; however, they don't seem to mind American families and individuals living in debt, ... enough debt to cause relentless worry, and will psychologically and financially (and perhaps physically) kill you.

Why is it that so many of us are dealing with mounting debt?

Well, thanks to Republicans /conservatives /corporate Democrats /big corporations /big banks /hedge fund managers /and the Feds previous and current policies, speculation and legislation*, the American family and individual (because of these policies/speculation/legislation and low wages) is forced to either work 2 to 3 jobs just to pay for food, clothing, insurance, taxes, shelter, education, health care, transportation, etc.; and/or have to finance these things using credit cards and/or refinance the house (if you have one with equity, and you have good credit); and/or have to do without two or more of the necessities.

This is insane.

Most likely you won't have good health care because you won't be able to afford health insurance; and/or you'll do without a good education for yourself or your children; and/or you'll have no life insurance if a bread winner dies; and/or you may end up homeless, or in substandard housing and drive a beat up (death trap) under-insured automobile (because you won't be able to afford to have that car fixed, or a newer car or other modes of transportation), and etc.

Americans should be outraged ... they should be demanding that corrupt politicians/bankers/hedge fund managers (and others who are responsible for gutting the economy) go to jail, ... and they should be listening to economist Joseph Stiglitz, and professor Michael Hudson, and Max Keiser ... however, what do they do (?), they fire progressive Democrats (like Russ Feingold and Alan Grayson) and hire Republicans.

Again, are you insane?

Anyway, it's a never ending cycle of debt that Republicans/conservatives will not address or fix because they don't want to address low wages, affordable good health care, affordable good education, war and war expenditures, the financial mess on Wall Street, or anything that really matters. They simply want to cut federal spending (which in today's economy has disastrous consequences), repeal health insurance reform legislation, impeach President Obama, and hand everything over to private business and industries and hope for the best. Well, sorry, beside that being a self indulgent, asinine prescription for what ails the economy and Americans, that prescription will not work.**

Maybe I should have called this post, "Debt Kills, and Republicans have no Real Fixes for what ails Americans or the Economy."
In fact, they haven't got a clue how to fix it!

Whenever unbridled "Capitalism 201 Gone Wild" comes to town (and it's been here for way too long), debt becomes the only thing that keeps you and our capitalistic system afloat; however, that debt will eventually kill you (and our capitalistic system) in too many ways to count.

Welcome to America.



Update: November 10, 2010As the Country Falls Apart, It's Time for Our Revolution | | AlterNet by Ted Rall

How the Wealthy Organized to Rip Everyone Else off -- And What You Can Do to Stop It | | AlterNet by Maria Armoudian (Nov. 10, 2010)

Dylan Ratigan, November 8, 2010 / The Great Divergence

Rachel interviews Elizabeth Warren






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Visit msnbc.com for breaking news, world news, and news about the economy

Update: Rethinking How Much We Spend (Nov. 18, 2010)

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*New 600B Fed Stimulus Fuels Fears of US Currency (Democracy Now, Nov. 5th 2010 - professor Michael Hudson starts speaking 9 minutes into the above video)



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**Nobel Laureate Joseph Stiglitz: Foreclosure Moratorium, Government Stimulus Needed to Revive US Economy , (Democracy Now, October 20, 2010, Stiglitz starts speaking about 13 minutes into the above video)

Make sure you also watch The Keiser Report.