Tuesday, March 5, 2013

Permanent Deficit Hysteria --> Permanent Recession

That's the way it is.

I'm not one to accept the notion that Deficits are somehow Apocalyptic Now when they Didn't Matter At All a decade ago during the Bushevik Gung Ho Period. Government spending deficits are now what they have always been, useful and necessary for the conduct of private and government business. In fact, the United States Government has nearly always run a deficit, and when state governments are forced to run deficits contrary to their charters (more and more common thanks to the lootage they've experienced at the tender mercies of the financiers and plutocrats) somehow the sky doesn't fall.

Deficit hysteria is a crock, but it has become a permanent fixture of our Ruling Class, and the permanence of deficit hysteria ensures that Americans will endure a permanent recession.

It's the strangest recession, though, isn't it? Corporate profits and the remuneration of the High and the Mighty have never been better, ever, in the entire history of greed and capitalism -- so they say. Yet the puny salaries and benefits of the workers whose toil ensures the privileges of their masters continue to fall. Tens of millions of Americans are forced into poverty. Homelessness and hunger stalk the land.

Hm. Maybe there is a connection of some sort? Ya think?

From appearances -- and from hearing the rhetoric of doom all the time -- Americans are coming to recognize that there will probably never be a return to a growth economy. The Powers That Be are intent on asset and wealth stripping from what remains of the middle class -- the working class and the poor having already long ago been looted of anything of value they once may have been able to accumulate.

The major mass media (and much of the new media) is practically giddy at the imposition of the latest kabuki, the so-called sequester, and they look forward to the re-allocation of the sequester cuts from the defense ledger to the social spending side. This makes them so happy, they can hardly stand it.

The high-stepping and baton twirling has only just begun.

THIS is what they have been waiting for.

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