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Bailouts and Boots

by : Daveparts
Thursday May 14, 2009 - 16:24

Bailouts and Boots By David Glenn Cox

When Americans went to the polls last November they were given what appeared to be two clear choices. Either, a more of the same trickle down economics from an elderly Republican war hero so spineless as to waffle on his own statements within twenty fours hours of making them.

Or a young and vigorous man who offered us hope. Barack Obama is very intelligent, very personable and engaging. After eight years of George Bush and Dick Cheney the Democrats could have run Godzilla against the Republicans and still won. Sure he’s eighty feet tall and wouldn’t have fit in the White House but he’s tough on terrorists and the state of the Union speeches would have been ones to remember.

So of course I voted for Obama besides Godzilla wasn’t an American citizen. The post mortem of the election declared that Gramps McCain had only a ten- percent chance of being elected. That is far too generous, his chances of being elected were comparable to throwing a football into the Grand Canyon and hitting a mosquito on the way down. Two names doomed his campaign, George W. Bush and Sarah Palin. The choice of Palin reminded me for all the world of “The Producers” choice of “Springtime for Hitler” it was laughable, they didn’t want to win.

If ever there were an election not to win it was this one. Obama has yards of political capital because the people realize we are in deep, deep trouble. In his first hundred days the President has moved quickly and decisively to bailout the banks, he has intervened to try and rescue America’s auto industry. He has pushed for more effort in the anti trust department of Justice department. He has announced plans to try and close overseas tax loop holes which allow US corporations to pay only 2% of the 35% corporate tax rate. Not bad for the first hundred days, except for one little detail what about the well being of the people?

Is that all we get, hope?

I hope you can find some place else to live because the banks now that they’re bailed out and able to unload their bad debts are moving full speed ahead to throw more Americans out into the street. According to Realty Trac Inc. foreclosure filings rose to a record level for the second consecutive month to 342,038. That’s not people that’s homes that’s families so the number of Americans dispossessed is somewhere in the neighborhood of 1,368,000 last month and another 1,368,000 this month. It would seem the type of work a former community organizer would be good at but so far all we get is hope.

Economists point to lower monthly unemployment numbers as evidence that we are reaching the bottom, Last month the official number was 539,000 laid off and that was good, better, at least than the previous month of 653,000. But that’s just a number, the attendance at the Indianapolis 500 is around 257,000 and that is a huge event but twice that many Americans lost their jobs last month. Two and half times that many lost their jobs the month before and they are still out there! They didn’t go no place. Here in Georgia with nine million people the state reported that just 3,000 found jobs last month but for the rest they got hope.

The economists were wetting their pants with joy when retail sales rose in February with knotted knobby fingers they pointed and said, “See, it’s getting better out there, it’s gonna be all right.” Now retail sales have fallen for the last two months and not just in this area or in that area or region by region but across the board. All across the country retail sales fell in electronics, furniture, clothing and far more telling and most damning of all retail sales fell at grocery stores.

The experts had predicted retail sales to rise 1.1% instead they fell .4% after declining 1.4% in March. Even receipts at gas stations have fallen despite the price going up and schools being out for Spring Vacations. The automobile manufactures where on a clip to sell 9.9 million cars, a far cry from the fourteen million of the good old days but in April that number was revised down to 9.3 million. Gee, I hope it gets better soon.

But as my father used to say, “Never underestimate stupid peoples ability to do stupid things even beyond your wildest estimation!” The Federal Reserve and the Treasury will begin offering Securities backed by car loans and other consumer credit The program, called the Term Asset-Backed Securities Loan Facility, is designed to grow as large as $1 trillion. How about calling it Securities To Underwrite People In Depression or just STUPID!

This is a depression and must be treated as such; to merely hope is to promote suffering, to poke and hope is to blindly promote suffering. Billions for the banks, Hearings on healthcare reform that leave out single payer. A continuation of the senseless wars killing our men and depleting our treasury. All while the Ex-Vice President goes on TV incriminating himself and the Ex-President for war crimes and giving the American people the raspberry while he does it.

It is time that the new President turn or be turned, time to wrestle the sword from the hands of the war lords and thrust it into the ground and to announce that we start again from here. To begin a criminal investigation of any and all involved with war crimes because I would hope that no man is above the law in this country still holds meaning.

I would hope that health care reform would mean the best deal for the American people not just for the American insurance industry.

I would hope that we would end the wars he promised to end when there is no victory in murder and no honor in injustice.

I would hope the President could remember back those one hundred days ago to his swearing in on the steps of the Capital. That cheering swarming throng of humanity on the national mall because that is just how many people lost their homes in America in just the last thirty days.

I don’t just hope that the President will do something about it, I demand it!



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