Republicans Get The Market Crash They’ve Been Working For
Between yesterday afternoon and right now, the Dow has dropped more than 550 points, heading toward perhaps a 2,000-point drop since about July 20, when it became very clear to everyone that the Republican Party would do everything in its power to make sure the American economy tanks even further before the 2012 elections.
Shortly before this week’s Fed meeting, the Republican House and Senate leadership penned a letter to Fed Chairman Ben Bernanke basically demanding that he take no stimulus action to spur economic growth. They pretended to take that stand because they pretended to believe that stimulus activity would result in a “weak” dollar and that would be bad. They know this is a lie.
A weak dollar, relative to other currencies, would pump up the export of American goods and services, because those goods and services would be more affordable outside our borders where a few people still have money they can spend. A weak dollar would lessen the impact of our foreign-held debt, which is significant.
As for our economic malaise, it stems from the fact that 25 million of us are un- or underemployed, and the average American family has less income, and maybe fewer income earners, has lost a ton of value previously held in real estate, and is paying off credit card and other debt after buying food, gas and paying for utilities. The consumer, appropriately so, has no confidence in the federal government, the Fed or their counterparts in Europe, as evidenced by an enormous withdrawal of money from the stock market over the past few months (and it would have been more, but many of them are forced to keep 401-K money in the markets, although good luck with that now).
The consumer has nothing left for discretionary spending and is in any event, appropriately, battening down the hatches in preparation for the next phase of the Great Recession that the Republicans are about to send our way, in hopes we’ll believe it was the chickenshit Democrats’ fault and not the constant GOP obstructionism.
With no consumer spending, there is no demand for new goods and services. Soon even the rich may have to dip into savings. Mercy!
The line of bullshit from the Republicans (or rather, relayed by the Republicans from their plutocrat handlers, the very wealthy) is that we must lessen the tax burden on rich business owners and end regulations, for only then will they open their doors and post millions of new jobs or something. But the last thing we must ever do is *spend* more government money on anything, especially on activities such as infrastructure projects that might actually employ people and patch our crappy roads and bridges at the same time.
The line of chickenshit from the chickenshit Democrats is that they already tried stimulus and it didn’t seem to work very well, and the Republicans were mean to them when they tried it and called them names, and now if they try it again the Republicans will be *really* mean to them and maybe make people not like them so much that they won’t get re-elected next year.
The truth is that the chickenshit Democrats allowed the very wealthy Republican puppetmasters to minimize their early stimulus spending efforts. The so-called stimulus spending was probably at least $1 trillion too little to jump-start the wretched economy, brought to us by Bush Jr.’s $1 trillion tax cut for very wealthy Republican puppetmasters, and $3 trillion and counting for Bush Jr./Cheney’s two clusterfuck wars really undertaken for the likes of Cheney’s old defense contractor company, and another $1 trillion and counting for Bush Jr.’s no-negotiaion-on-drug-prices Medicaid fiasco and present to the Big Pharmacy wing of the Republican Puppetmasters Guild.
So despite the current lies oozing from Boehner/Cantor’s collective mouth about us having already tried stimulus spending that failed, the truth is we have never attempted anything even coming close to the scale of stimulus spending needed to bring employment back to what is now the American Peasantry.
And the truth is that Boehner/Cantor et al don’t give even the tiniest of shits, because the American Peasants are collateral damage as far as they’re concerned, who cares if they all die from untreated cancers and starvation, as long as we get the black Democratic president out of office, right? And of course the dumbest asses of all are the GOP stormtrooper Tea Party doofuses, going around spouting and occasionally even apparently believing the plutocrat puppetmasters’ bullshit about the dangers of deficits that no one cared about until the black guy took office. And of course if the Three-Piece Monkey Bots take control in 2012, the Tea Partiers finally will learn that they are collateral damage, too, and have actually been kicking themselves in the balls these past few months. But who gives a shit? Not the puppetmasters, for by then they will have achieved total control, and the second American revolution will be complete.
But above all, remember: Corporations are really people, too! They are! When they’re young, they get pimples and then fall in love and stuff. Except when they get older, they never lose their health care coverage or pension benefits like “human” people do. So corporations are really people too, only better.
