January 17, 2008
Bush and Bernanke push corporate socialism
Now Bernacke and Bush recommend a stimulus to replace the missing equity capital in the financial system. How can this not be called socialism? Or is socialistic tinkering with the system to protect the rich called a stimulus package while providing health care is oh so unAmerican.
The nation's debt has skyrocketed from six to nine trillion dollars under Bushco and as a legacy for his last year he will oversee spending a couple hundred billion dollars we don't have to bail out his cronies.
Meanwhile a useful scorecard to watch is that the Pound and the Euro continue to soar against the dollar even while Europe provides a social net for the health and retirement of their workers.
We get to inject billions into the economy in an act of corporate socialism; Wall Street takes out $57billion and yet helping the poor with medical bills and heating costs remains a danger to the American psyche.
As they say: "Go figure."
We are really screwed.
And it never event felt good at all. Ever.
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