Art Laffer, of Laffer curve fame, on CNBC's Kudlow Report just blamed Obama for the current economic crisis on the grounds that well prior to his election the markets saw the electoral results coming and reacted negatively.
We are asked to believe that the economic fundamentals in place during the Bush years and the decades since Reagan had nothing to do with any of this? See Bonddad's last post for a good discussion on this. Furthermore, We the People are receiving our just desserts for challenging the will of the plutocrats through democratic means. And they chide us for fomenting class war.
Well, they are at the moment quite right. This is a class war between corrupt and moribund big finance capital and the rest of us. I say this as both a retired worker and an investor living on modest returns on savings.
I have made the point in a previous blog about the ideological affinity between big finance capital and fascism. I don't think these folks have the means to reify their pornographic wet dreams. May it ever be so.
I will close with the following happy thought:
Capital must protect itself in every way... Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
"Banker's Manifesto" --Anonymous