Monday, July 25, 2011

Kryptonite for Banksters (Update)

If the Republican sponsored “Cap, Cut and Balance” bill passed last week and was signed into law by the President, I do not think the rating agencies of Moody and Standard and Poor would downgrade the credit of America, as threatened.

At best, the institutions would have given their blessings if not for their own interests and survival.

In my opinion, the "Cap, Cut and Balance" bill offered optimism everybody could understand. Once understood, it would get a heroes’ welcome as it parades down Main Street in states and cities throughout the land: “Ding, dong, the Banksters are dead!” Long live America.

Fighting for the dignity of my Ancestors,
God bless Bill Gates, WPFW, C-SPAN and the spirits of the unborn for the help,
BB

Cut, Cap and Balance Act Co-Sponsors

Read more at:
http://www.cutcapandbalanceact.com/


And
White House Threatens Veto Of 'Cut, Cap, Balance' Bill; GOP Plows Ahead
Excerpt:
Democrats in the White House have what they think is just as creative a name for the bill — Duck, Dodge and Dismantle.

And those same Obama officials vow that Presidenht Obama will veto the legislation if it were to reach his desk.
Read more at:
http://www.npr.org/blogs/itsallpolitics/2011/07/19/138486765/white-house-threatens-veto-of-cap-cut-balance-bill

(Update)
Obama's Ambush on Entitlements
By MICHAEL HUDSON
Excerpt:
This is what is happening today. Instead of enjoying what the Progressive Era anticipated – an evolution into socialism, with government providing basic infrastructure and other needs on a subsidized basis – we are seeing a lapse back into neo-feudalism. The difference, of course, is that this time around society is not controlled by military grabbers of the land. Finance today achieves what military force did in times past. Instead of being tied to the land as under feudalism, families today may live wherever they want – as long as they take on a lifetime of debt to pay the mortgage on whatever home they buy.

And
And instead of society paying land rent and tribute to conquerors, we pay the bankers. Just as access to the land was a precondition for families to feed themselves under feudalism, one needs access to credit, to water, medical care, pensions or Social Security and other basic needs today – and must pay interest, fees and monopoly rent to the neo-feudal oligarchy that is now making its deft move from the United States to Ireland and Greece.

And
But of course, it is all about the banks. Wall Street knows that to get sufficient Congressional votes to roll back the New Deal, Social Security, Medicare and Medicaid, a Democratic president needs to be in office. A Democratic Congress would block any Republican president trying to make the kind of cuts that Obama is sponsoring. But Congressional Democratic opposition is paralyzehttp://www.blogger.com/img/blank.gifd when President Obama himself – the liberal president par excellence, America’s Tony Blair – acts as cheerleader for cutting back entitlements and other social spending.
Read more at:
http://counterpunch.com/hudson07262011.html

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