Wednesday, December 14, 2011
Economic Meltdown Scheduled to Continue Indefinitely
The correct response to the economic/financial meltdown was to provide substantial household debt relief, a real jobs program, and the prompt and effective re-regulation of banks and financial institutions.
Of course, none of this was done. Instead, all the gambling debts of the banks and financial institutions were backstopped (and often paid off, multiple times in some cases) with "created" money, and a few key manufacturers had their debts covered.
There was no household debt relief. In many cases, not even bankruptcy would discharge personal/student/household debt. Instead of a jobs program, there were repeated extensions of unemployment insurance benefits -- for those who qualified, which was never more than half of the unemployed, and in the later extensions, much fewer than half. Typical UI benefits were half or less (often much less) than previous earnings.
Millions and millions of Americans have been forced into poverty; millions and millions face hunger more and more often. Millions and millions of Americans have been forced out of their homes. And the process of impoverishment and eviction of Americans has not relented.
The economy continues to worsen for most Americans as wages and benefits are stagnant or in decline, there is a vicious campaign against public sector workers; pensions are under constant threat. Retirement and other savings of many millions of Americans have vanished.
Yet a handful of international bankers and financiers are doing better than ever, providing nothing of value at all, but successfully extorting governments at home and abroad of every nickel they can extract.
Governments all over the world have yielded to the demands of this handful of extortionists, forcing austerity and poverty onto their people while preserving their "nobles" from even the slightest patriotic requirement.
The People in general have no say in the economic policies of their governments, and governments have no care for their People.
So. There is a global -- and growing -- revolt.
As revolt/revolution proceeds, governments and Peoples are becoming more and more alienated from one another. Part of the demonstration of the Occupy Movement is to show how "another world is possible," and to demonstrate on a small and temporary scale, how to do it. How to live simply in community, in dignity, with justice, and in peace with one another. How to disconnect from the Grid of Control -- and why. So many demonstrations, so much need.
As government and Peoples divorce from one another, "another world" emerges spontaneously. It may not be what any of us had in mind in our utopian reveries, but it is the creation of the Future nevertheless.
The Future we thought we might have had has been stolen from us. The Earth itself is rebelling from the control of the financial elites. The more they seek to secure their own future, no matter what happens to anyone else, the worse their own fate will be.
Another world is possible...