Thursday, February 11, 2010

Obama "is Running a REPUBLICAN, CLASS WAR presidency" - Prof. Michael Hudson outlines & details the sheer treachery & Destruction of Team Obama...

 At long last, after countless hours  searching and reading the web,  in abject frustration at the PREMEDITATED DESTRUCTION of the U.S. Economy, WHICH CONTINUES APACE under so-called "Democratic" (not!) President Barack Obama's awful administration:  
Obama's Republican Class War Presidency

Guns and Butter - Obama's Republican Class War Presidency - February 3, 2010 at 1:00pm

Click to listen (or download)

Throughout this 1 hr audio, Prof. Hudson disputes the notion that Obama is running "KEYNSIAN" economic policies: Keynes believed in using Government DEBT, yes... but to STIMULATE the PRODUCTIVE parts of the economy, especially those infrastructure build-outs that put large numbers of well-paid men to work. 
(Classic, textbook example: The Depression era HOOVER DAM, which was ironically named after the Republican president, Herbert Hoover, who opposed and rejected exactly that type of "government intervention" "socialized" big government spending.)

Prof. Hudson explains that HANDING TRILLIONS of dollars to predatory, parasitic  BANKERS, is NOT Keynsian economics...

Indeed, at around 40 minutes in the audio, Prof. Hudson explains that the US Economy WOULD BE BETTER OFF today, had AIG & the Big Banks FAILED (been allowed to fail),  this would merely be, in Professor Hudson's words,  "allowing the GAMBLERS, the top 1% invested in the largest hedge-funds, to see their BETS FAIL as they should"
(our words) they (large hedge funds & predatory banks) were, and are, SUCKING GREAT CHUNKS OF CASH and "money" OUT of the productive economy, and replacing it with DEBT - DEBT for EVERYONE BUT the Top 1%, massive DEBT to CONSUMERS AND TAXPAYERS, with the flip side of that coin - profits - going to the top 1%.

The proof that Mr. Obama is now running a REPUBLICAN "class war" PRESIDENCY is SIMPLICITY ITSELF: for his two, the 2  MOST VITAL ECONOMIC POSITIONS in the entire US Economy, Treasury Secretary & Federal Reserve Chairman, President Obama has SELECTED TWO UNREPENTANT  RADICAL Right-Wing "deregulation uber alles"  REPUBLICANS... Ben Bernanke and Timmy Geithner.
Obama's Republican Class War Presidency
(at 30:22 minutes)
"Republicans are smart enough to REJECT Obama's latest "Economic FREEZE plan" - EVEN THOUGH THEY WOULD HAVE DONE THE SAME - "knowing that they CAN TAR DEMOCRATS with those HATED & DESPISED policies" !!