classical economics
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Battle of the Worlds
Elitists Assault Financial, Energy, Health Fronts
By Wayne Jett © August 5, 2009
    Never – not even during the Great Depression – have American elitists attacked the middle class so openly, aggressively and mercilessly as at present. The inner elite, meaning those who control the great capital pools of Wall Street, who wield dominant influence at the Federal Reserve, Treasury, the White House and both houses of Congress, are on the offensive. Their goals are to seize new powers in financial, energy and health care sectors, which will enable them to subjugate and destroy the middle class.
The Financial Front
    On the financial sector front, Wednesday’s Wall Street Journal initially was to report (at page A32) a profane meeting held last Friday hosted and dominated by Treasury secretary Timothy Geithner – attended by Federal Reserve chairman Ben Bernanke, Federal Deposit Insurance Corporation chairwoman Sheila Bair, SEC chairwoman Mary Schapiro, Fed Governor Daniel Tarullo, Comptroller of the Currency John Dugan, Commodity Futures Trading Commission Chairman Gary Gensler and Office of Thrift Supervision Acting Director John Bowman. This report was pulled from the paper in favor of a subsequent report (page A4) of continuing conflict among the regulatory agencies in Senate testimony on Tuesday. Senator John Shelby (R-AL) is said to have admonished Geithner for attempting to muzzle the regulators, and to have encouraged regulators to be candid in their testimony.
    The Journal’s first report described last Friday’s hour-long meeting as “unusual” because Geithner “blasted regulators” with “repeated use of obscenities” for hurting legislative  chances of the Obama administration’s plan for reforming financial regulation. Geithner’s plain message to the attendees was to stop protecting regulatory turf and to join the team for his proposal: give the Federal Reserve new powers as super-regulator and “stabilizer” of securities markets, while combining the SEC and CFTC as Fed-helpers.
    As usual, Geithner was speaking for Wall Street and the inner elite’s big capital pools. They want their privately owned central bank to be given government powers of super-legal quality. While proclaiming “transparency in markets” to be its goal, the Federal Reserve is infamous for secrecy (except towards insiders) and for speaking in the most obtuse, complex and misleading terms. If the Fed is given powers actually to move market prices up or down, while telling SEC and CFTC what to do, the inner elite’s capabilities to swindle and to bleed the middle class will be enhanced as never before.
The Energy Front
    The so-called “cap-and-trade” legislation (HR 2454) is far worse than merely a tax on carbon-based fuels. HR 2454 grabs authority over every type of energy and every use of energy. The federal government, meaning the inner elite who control it, would have power to determine the cost and availability of all energy used by industry or by individuals.
    When contemplating implications of such power in federal hands, do not mistakenly think of yourself and your extended family as continuing in existing financial circumstances. Such federal discretion can be used to impoverish America overnight. Do not presume that the inner elite are benign in their objectives, or that surely they prefer a prosperous and happy middle class as their social companions. Consider their conduct only last year as they stripped over $10 trillion from middle class capital for their increased empowerment.
    HR 2454 would enable inner elitists to shut down production of crude oil, natural gas and coal far more effectively than they have already. In that environment, elite media reports that oil production has peaked could be managed far more credibly without conflicting discoveries of giant new natural energy sources.
The Health Front
    The reasons claimed for “health care crisis” are said to be about 17% of Americans without private health insurance, plus rising health care costs. On the first point, private health insurance could be bought for all those presently without it for a cost not exceeding $27 billion annually. Yet, the elitists’ plan pushed by the Obama administration would spend at least four times that amount while pushing all Americans out of their private insurance plans into a single-payer government plan.
     Rising costs of health care are due primarily to defective - indeed, corrupt - monetary policy. The Federal Reserve has devalued the dollar intentionally by two-thirds since 2003. Devaluation is reflected more promptly in health care than in other sectors, because Fed operations designed to increase unemployment to hold down costs do not work well in the health sector. People regard health care as a primary necessity, so they don't give it up easily. Thus, health care workers are not shoved out of work as the Fed would like. This existing condition
undoubtedly would  be addressed by the elitists' health plan: no need for so many workers when pain pills are substituted for treatment.
    Why do elitists desire government controlled health care for the middle class? The reason is implied by Justice Ruth Bader Ginsburg's recent statement that the original motivation of the pro-abortion movement in the U. S. was to control population growth “in populations we don’t want to have too many of.” As the “we” for whom she spoke was the inner elite, most assuredly the middle and lower classes were the undesired populations.
    This is why the elitist plan being propelled through the Obama administration and Congress is so deadly for middle class and lower class people. Elitists unhesitatingly urge women to abort their unborn children in order to reduce births among undesired populations. You may be certain elitists will be equally ruthless in denying life-saving measures to ill and infirm of every age.
    Illness and disease, it will be said, is no one else’s fault and is simply too expensive to combat. It is “selfish” of any person to wish to spend exorbitant sums to save one’s own life, when others have so many needs and are not ill. The middle class just cannot afford extravagant spending on health care. Such contentions now may sound callous and transparent. But, remember, the elitists’ aim is to reduce population growth.
    The elitists’ bold, new world of health care certainly would destroy capability of U. S. health care providers to deliver care and treatment of the quality presently common. A government single-payer system would deprive health care professionals of fair reward for their efforts and turn them into bureaucratic functionaries. Those who entered health care to save lives, not to end them, would no longer find their work hospitable. Health care research would die on the vine, as is characteristic of experiences in other state-run systems of health care. Soon, quality care and treatment would not be available even if government power deemed it appropriate.
Elitists Stage Flanking Movements
    While most Americans are understandably riled by prospects of losing access to private health insurance, attention is distracted from the crucially important financial and energy fronts. Elitists can be expected to mount flanking actions designed to ram through Congress HR 2454 on energy/cap-and-trade/carbon tax and on their financial “reform” proposals. These enactments would be more devastating to the middle class and poor than the worst of FDR’s “new deal” programs of the Thirties.
    With these political wins in hand as grounds for proclaiming popular support and momentum, the inner elite hope to ram health care legislation through Congress in barely diluted form. That is almost certainly the elitist battle plan presently. It is deadly for the middle class unless it can be actively opposed and defeated. ~