[youtube=http://www.youtube.com/watch?v=NHN2b8oWVes&feature=player_embedded]
In bad economic times, all sorts of funny things happen to a capitalist country.
The Left typically gains power, assuming they are out of power in the first place and have some intelligent to offer.
And the rightwing populists get going. So do the fascists. It’s hard to believe that either one has much to offer.
US style rightwing populists are particularly retarded. This video is an excellent example.
This dumbshit attacks the federal government borrowing money in a depression (a necessity for a quick recovery), then he attacks Freddie Mac and Fannie Mae (that’s the federal agency that guarantees mortgages). The FM’s are part of the crisis, but that’s only because they got in at the hog feeding trough with all the rest of them. The entire political spectrum, Republicans to Democrats, was behind the FM’s loosening their standards, so the FM’s would allow the capitalists to make more knowingly bad loans where the capitalists made money whether the loans made good or went bad.
So this was a federal agency captured by the power of criminal finance capital, in particular the criminal real estate sector. The Republicans have tried to deflect the whole criminal fuckup on the part of the FIRE sector (finance, insurance and real estate) and deflect it off onto the Federal government. In this revisionism, the Feds caused the Depression! The capitalist criminal banksters were the good guys! Yeah right.
And how did the FM’s cause this Depression? By loaning to worthless “nigger” and “beaner” deadbeats who knowingly took out loans that they knew they could not repay (note blatantly racist subtext)! Left out here is that the capitalists wanted to make loans to these insolvent folks, and for decades lobbied to get rid of Federal regulations mandating that loans could only go to solvent folks. The criminal banks just repackaged the shit loans as funny money securities and passed them on to the next sucker, making a bundle. The crooked banks did not care if the loans went bad, since they didn’t own them anymore anyway.
Both parties and the entire media were in deep with this criminality to the max. A recently passed financial reform bullshit law will frankly do nothing to curb this criminality and will not prevent it from happening again. The Republitards railed against any changes at all for their criminal banker buddies, and the Dems kept watering the bill down after crooked bankster lobbyists showed up in their offices, probably with suitcases full of cash.
This dumbfuck then starts going on a bout the evil Fed. That’s the Federal Reserve. Yes, the Fed, under Alan Greenspan, was part of a decades-long project to reduce the income of the US middle class by 2/3. This project was supported wildly by both parties and the entire US media across the board. Notice how Greenspan kept getting automatically reappointed every time he came up. The Dems sort of grumbled a bit, but the Republisnarks demanded it, and the media roared threat after threat if Greenspan was not re-upped yesterday.
Other than the fact that there are a bunch of ruling class asshole class warriors sitting on the board, there is nothing per se wrong with having a Federal Reserve. It’s actually necessary to keep the economy from going into wild swings. The Fed often takes decisive action to try to ward off serious economic problems. Getting rid of the Fed is insane, solves nothing, and brings up back to 1870.
It’s nice to see him hitting the 1% elite, Wall Street and the bankers. At least he’s got the right targets. Those are the Republicans’ buddies. They never say two cross words about any of those groups. But his prescriptions are all wrong.
He also says that the only time people are safe is when Congress is not in session. That implies we should just disband Congress and let the capitalists run amok over our bloodied heads.
Right dude. The problem is government! Idiot.
He also loves the Tea Partiers! Why, they’re just fighting against all that evil speeeeeeending. We can’t have government spending, not a Depresion! God no.
This guy is a political amateur and economic moron, but he’s smarter than 90% of White Americans. That’s scary right there. His crap economic and political populism hits all the right anger buttons, but does nothing to cure the problems, and actually makes everything worse.
Anyway, this gives you a good sense of rightwing populism in the US, 2010 version. It’s as retarded as ever, but people keep falling for it.
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Rob, could you please at least credit me with pasting the video? And he also attacks bankers, not just the federal government. Also notice how he says “kabbalah” bankers. He he. Real clever right there.
Rob, could you please at least credit me with pasting the video?
No.
And he also attacks bankers, not just the federal government.
That’s the one good thing. A Tea Partier attacking the 1% elite and the bankers. Interesting. The Republicans will never do this of course. The Democrats attack the bankers, but then they turn around and suck them off when the lobbyists show up.
Also notice how he says “kabbalah” bankers.
Yeah, throw a little anti-Semitism into your Tea Party stew. Interesting, but I fail to see how this benefits Joe Blow.
At the end of the day, the video is pretty much shit. He advocates shutting down the government, slashing state spending in a Depression and he supports the reactionary Tea Parties! WTH man. Garbage.
In the past, if someone comments, and you write a post on that comment, you say that a commentor said it. Why don’t you mention who made the comment, or in this case, who uploaded the video?
I don’t ref video uploads. I just steal em.
That’s real nice of you.
Thx.
Would you say this guy is economically libertarian?
And is that the polar opposite of your economic views?
Bob has the Fannie Freddie CDSwap schemata as causative agents for the Great Recession nailed.
But the Tea Party movement is in flux and somewhat divided on the wars and financing the MI Complex’s Empire…and the Federal Reserve was always corrupt. As Yockey said, 1913 was when US money supply became officially privatized. We need a national bank with direct Congressional oversight.
Back to where Bob’s on target. Nothing illustrates his depiction better than the bullcrap lies issued by media jock Limbaugh wannabee (now at WGN Chicago) Mike McConnell, about the nature of the financial collapse.
This bum has defended Goldman Sachs throughout the crisis and said many times there was really nothing wrong with Credit Default Swaps, as government allowed them, because when government is overly tolerant, good old fashioned capitalists can’t be blamed for taking advantage of the lack of oversight.
The basic truth Lindsay outlines “The entire political spectrum, Republicans to Democrats, was behind the FM’s loosening their standards, so the FM’s would allow the capitalists to make more knowingly bad loans where the capitalists made money whether the loans made good or went bad.
So this was a federal agency captured by the power of criminal finance capital, in particular the criminal real estate sector.
was and is swept under the carpet by all the faux big media libertarian-conservatives, who also inevitably supported both wars for Israel
against Iraq and Afghanistan. No problem with violating basic libertarian principal when the elite media bosses demand it.
Rob,
Were you referring to some other videos that this guy has made..? About half of speech was about how ridiculous the main stream media is by focusing on narrow subjects. (something that Chomsky’s talks about also in a similar vein..)
Criticizes “the Fed bailing out wall street friends…”
Criticizes “money filters up to the top 1%”
Criticizes “George Bush’s insane spending..”
None of the above sound like he supports handing money to the top 1% as you claim.
He says almost nothing about Libertarians.
Libertarians DO NOT and DID NOT support war in Iraq nor aid to Israel.
“This dumbshit attacks the federal government borrowing money in a depression (a necessity for a quick recovery)”
What the US is doing now is not part of the original theory of John Maynard Keynes…. it’s closer to the policies of Latin America in the 70s and 80s. Eventually the piper will have to be paid.. either through dramatically higher taxes… lower spending .. or most likely through a much weaker dollar. The last policy generally favors the wealthy who can easily move capital across borders and hold large assets. (Versus the lumpen proles who are depending upon social security, pensions, or 401ks. ..)