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Choose Economic Recovery

Turn Out Elitists Who Destroy Prosperity
By Wayne Jett © November 1, 2012

     Keynesian dreams came true with the arrival of Hurricane Sandy in the populous U. S. East Coast. Natural disasters, economist John Maynard Keynes advised, are stimulants of economic growth. He saw wars and pharoahs’ make-work projects like pyramids as economic stimulus, too.

     So Hurricane Sandy is just what the U. S. needs at this miserable time, right? If only Sandy had blown ashore in 2009, by Keynes thinking, the U. S. could have saved $5 trillion in deficit spending blown instead.

                                                                Keynes and the Elitist Agenda

     Do not assume these comments about Keynes are exaggerated or misstated to make a joke. This is one serious flaw among many in Keynes’ 1935 “masterwork” The  General Theory of Employment, Interest and Money. My book The Fruits of Graft – Great Depressions Then and Now, which may be purchased on the homepage of this site or on Amazon, lays bare these important errors. Nonetheless, Keynes rose to superstar status on wings of The General Theory. His acolytes run the Federal Reserve and U. S. economic policy today.

     The wind beneath Keynes’ wings was furnished by the small circle of dominant elite who own the Federal Reserve and control federal policy. They loved his betrayal of classical economics and the camouflage he created to conceal and advance their agenda. Keynes abandoned classical economics, embraced mercantilism, and enriched himself as an asset manager using his elitist contacts in the financial sector.

     The elitist agenda since the 19th Century has been to install themselves as global rulers by destroying middle class prosperity and republican government. In 2012, the dominant elite are more powerful and closer to their objectives than ever.

                                                                    Obama as Elitist Operative

     During the presidential campaign of 2008, Democratic presidential nominee Barack Obama was identifiable as a candidate sponsored by the dominant elite. Before Obama’s election as president, close observers knew his economic team would be headed by Timothy Geithner.

     In 2008, Tim Geithner was president of the Federal Reserve Bank of New York and Treasury secretary Henry Paulson’s closest henchman. Paulson, you will recall, moved from Goldman Sachs CEO to head the U. S. Treasury in 2006 and preside over economic collapse and financial terrorism during 2007 and 2008.

     The economic destruction begun under Henry Paulson continued seamlessly as Geithner took over at Treasury. Federal spending proceeded at unprecedented levels, without budgeting. Monetary policy monetized federal borrowing at deceptively low levels, concealing the dangers presented by new debt incurred. Geithner did his utmost to block reforms to prevent fraud in European financial markets, and nothing was done to stop it in U. S. markets.

                                                                    Financial Fraud Unabated

     Four years into Obama’s term, not a single financial terrorist has been brought to justice. Two years in jail for Goldman Sachs director Rajat Gupta, who passed insider tips to hedge funds, does not qualify as bringing justice to financial terrorists. 

     Thirteen trillion dollars is the best estimate of capital looted from America by financial fraud in 2008 alone. Measured in purely financial terms, Osama Bin Laden did nowhere near as much damage. So far as we know, not one federal law enforcement officer is on the trail of financial terrorists who did 2008.

     The Securities & Exchange Commission proves daily how ingeniously the agency was designed. Its exclusive jurisdiction over securities trading fraud functions as an ultra-efficient cellar to which all financial fraud allegations go to be buried. The SEC assures that no one bothers the dominant elite, who do as they please behind fortress drawbridges.

                                                                    Trans-National Monopolies

     Many Americans who consider themselves well informed are oblivious to reality. A relatively small circle of dominant elite own and control the central banks of the world, including the Federal Reserve, and the largest banks. Through these financial institutions, the dominant elite own or control the major trans-national corporations (TNCs).

     This is now documented by academic studies.  Some will be surprised that the work was done in Europe. Regrettably, again due to influence of the dominant elite, U. S. institutions display a shortage of intellectual integrity on matters financial.

     Economic depressions liquidate small and mid-size businesses, enabling TNCs to grow larger and more monopolistic. With each economic crisis, Congress enacts complex new laws as reform. Each reform favors the TNCs to the detriment of smaller competitors.

     Sarbanes-Oxley crushed smaller businesses with new costs to protect against corporate accounting fraud, though Enron’s fraud was centered in Wall Street’s financial designs. ObamaCare strongly favors Big Pharma and Big Health, and stimulus spending pumps hundreds of billions into TNCs.

     At the same time Obama threw stimulus dollars at every crony, Medicare actually slow-walked payments to physicians and other small business providers of care for the elderly. Dodd-Frank aids international banks in rolling across every U. S. state, even as community and regional banks are kept under strict scrutiny and threat of seizure.

     Such putrid national policies do not flow naturally from a political process focused upon protecting interests of common people. They are effluents of political leaders sponsored by the dominant elite.

Barack Obama: Elitist Despot

     President Obama’s actions show he is, in the words of President Franklin D. Roosevelt, “owned by” a certain financial element in the larger centers. So was FDR.

     Obama and allied congressional leaders rammed through new laws so harmful to popular interests they were neither explained, nor debated, nor even read before voting. These are despotic acts. What is worse, they are acts of an elitist despot rather than one acting on populist demands.

     We now know enough about Barack Obama to be certain he should not be the U. S. president any longer. We have seen enough of his actions as president to know what he is about. He has advanced the elitist agenda on every front at every opportunity, all while claiming to support the middle class. This must be ended.

Mitt Romney?

     What or who is Mitt Romney? He is not Barack Obama. That is paramount.

     Romney’s policy proposals are far superior to Obama’s. His tax and spending proposals can be improved, but at least they will permit economic recovery. Obama’s policies will not. Romney has exhibited personal commitments over his lifetime to middle class virtues: devotion to family, fair reward for work and production, and service to humanity at the personal level. If he cares for these things, the nation will benefit.

     Romney’s ties to Wall Street raise concerns, especially money flowing to his campaign from hedge funds and other financial sector players. But he has voiced awareness that Dodd-Frank was a sell-out to the international banks. This is a ray of hope, and Romney together with better members in the Senate and House could produce something in the nature of true reform in our very broken financial sector.

     Make your own choices. For all offices, look for candidates who will not sell out to the elitist agenda. America has been pushed and shoved into its worst financial predicament in history – one bad enough to pull down our Constitution. We must not permit it to go further downhill. ~