Friday, March 06, 2009

death of the free market economy

It is very difficult for me to actually encapsulate the significance of what may lie ahead for our nation and maybe even for the world. True I have the practical ability to evaluate and examine, even project out comes with respect to a diversified corpus of subject – yet I am no sooth sayer and don’t own no crystal ball. All I can do is speculate and opine with the circumscribed and ineffectual information and faculties I have.

I am concerned that none of these folks inside the belt way can be honest with me or the public regarding the economy. The truth is that nobody knows what will work. And to go on and tell folks that something will work when they do not know is a bold face lie – regardless of who delivers the message. And yes I group all of them as the same from Obama to Bush, to Clinton to Regan with respect to this problem as well as all of the senators and congressmen who let this shit occur on their watch while they were giving themselves annual salary increases. Under Bush we accumulated more debt than that of the entire prior 42 Presidents of this country combined.
What really gets me is this talk of a “global new deal” and makes me wish I could read the transcripts of what was actually said between President Obama and British Prime Minister Gordon Brown because that April meeting will be here before you know it. I just wonder if we are seeing the beginning of the end of US sovernity. Since Regan, 78% of our economy is based on consumption, that is to say we buy more from others and produce nothing, and that for decades we have been spending more than we earn and borrowing more over the same period, it would be hard for me to see another nation or organization telling us what to do.


The truth is folks can talk about the stimulus as needed and that it is the solution, but it is not. We need way more than $900 billion to deal with this problem and I have estimated $2 trillion will be needed for the banks to be supported alone. Why, because we are a $14 trillion dollar economy in a global market place with more than $40 trillion dollars in lost equity worldwide. This is just the start of a real long period of stagnation and if over here we see bigger government and more government spending as the answer that means even a bigger government, like one international government may be what will be on the table when the G-20 meets in April. I mean when they speak of “coordinated efforts” this is what I hear and that means I won’t even rule out the creation of a single global currency.

I say be on the lookout, I wrote a while back about despots and even before then as to how Rome may be showing its ugly head again. So live it up while you can, and Mr. President, go on and spend that money albeit I’d prefer you give each citizen a check $240000) instead of bank and financial institutions that are gonna fail anyway. So get gone and get health care cost under control Mr. President and spend some loot in the states, shit it is about time we spend some loot at home domestically after 8 years of the tax breaks put in under the GOP. Because we citizens gone keep on borrowing and buying from other countries (which I why I indicated before that the combined debt of American households is larger than GDP of China and India combined). So enjoy the last days of the USA and don’t be surprised after the April meeting if we start seeing G-20 buildings in every country and in DC, or hearing the words G-20 on every news cast (since newspapers in America will die off). So cheers to the death of the free market economy - Good day.

30 comments:

Craigjc said...

Another banger: You're correct, nobody knows. Kinda reminds me of the Bible, "Nobody knows the day, nor hour" ... Whoa. I'm freaking myself out! Is this the end?

MacDaddy said...

The end of the so-called free market. You on the real, Dawg!

Lovebabz said...

Always thought provoking.

[Emeritus] said...

@ craig jc

the Bible does hint to these events as heralding the 'end.' as for the creation of a global currency, i won't be surprised at all. in fact i'm expecting it.

Pimpin' Pens said...

Long time Rawdawg, hope all is well. Read this piece and had to comment. Government expansion is never for the benefit of the people, in my ideals, primarily due to the fact that govt. employees in general have less incentives to progress (i've been on both the public and private side of thangs and gazed down the greedy eyes of both, what I found was the public was lazier...). What we are witnessing, again in my opinion, is an increased boost of control domestically, back alley deals globally, and the disenfranchising of the trully motivated and success seeking individuals in this beautiful nation my people so eagerly migrated to. (after a dick-tator named fidel snatched the safe from under us). And while you make a solid point in that policy is written by "experts" and not the chief of command, I cannot ignore the gut feeling telling my intoxicated cadaver, "why is our president talking down to us, overly confident in his decisions, emotionless in his eloquent dictation, and shaking hands with old beaurocratic washington elites?" At least with Bush I new i had a cowboy and not a politician. Politicians, my friends, force me to hold my wallet and my h&k, and we have the best ones running freely up in DC. I digress...

-LosDiablo

Melody.Darlene said...

good lord this shit is scary! thats it... im gonna become a pusher! hahaha!

ps. i've sent so many ppl ur felatio blog from a while back... they all loved it and kept forwarding! hahaha! especially the men! lol

msladydeborah said...

This particular reality has been looming over us for years. There is an irony to W being labeled as a fiscal conservative. He spent money like he was eating paper and shitting it out afterwards. Which is definitely a contradiction to the GOP's idelogy regarding the role of government or economic matters.

I have mixed feelings about this situation. There is a part of me that says let it flatline and we can start over afterwards. But I know that would affect the average citizen in a major way.

There is also the other side of my thoughts that lean towards believing that if we really need to get stimulated then we need to start a national wealth building campaign among the people.

There were a group of children in NYC who collect one million dollars worth of pennies to fund their favorite charities. They collected change from family, friends and neighbors. I believe that if we had a nice chunk of loot, we could use it to be producers.

One thing that I know for sure, we are definitely going to have to adjust our mindset about just being consumers. We need to shift gears and use our talent and brain power to create community economic stimulation.

rainywalker said...

Chicken Little was right, the sky is falling. I'm buying pencils, getting a patch for one eye and a dancing chicken.

MsPuddin said...

we're all going to die aaaaggggghhhhhh!!!

* sigh * ok I'm done now. Good thing I got that BS in journalism lol

Tawana said...

Right on point! I am not sure how you flew under the radar when Obama was selecting advisors. :) There needs to be a few voices of reason up in that camp.

Freestyle Comunity said...

Muy bueno! Sigan así... saludos a todos


KELSO'S NUTS said...

If it were merely the "socialist" stage of collective ownership of the means of production and the wealth of the nation,on it's way to a "Dictatorship Of The Proletariat," finally towards a UTOPIAN COMMUNIST AMERICA. they ideology would be clear.

I'd hate it, because I believe in free-market capitalism and self-government, not state instutional control of all market activity and all citizens' rights.

Eventually, the Treasury Department and the Fed are going to transfer all wealth and productive capacity into the hand snd of the owners of the Largest 500 Corporations, especially, banks and in return, the Treasury and Fed will own all of the leveraged real proproperty in the nation. And at some point they'll take that 9-0 Eminent Domain decsion from up their sleeves to seize all real property.

They will continue to be on a war-footing at all times. There will never single-payer national health insurace.

That is what I can easily call STALINISM. (Stalin had the health insurance, though) We've made the case over and over again on the blogs and on the radio shows.

Stalinism won't be brought to you by a scary looking Slavic-Georgian named Josef Stalin" Dzhugashvili, nor by a pudgy, sweaty, bald, bespectacled, Senator McCarthy.

Oh no. Stalinsism will be poured right into your well water by the cutie-pie with the soarng rheortic and the olive green sportcoat.

James Tubman said...

the debt is too great to overcome

i think thst giving that moeny to institutions that would help people to make more money is the key

but i doubt if the people in office have enough sense to do that

we can still turn this thing around

it will take intelligent dilligent visionary leadership to do it though

Jay Midnyte said...

Its wack as shit but its kinda exciting to grow up during all this uncertainty lol its survival of the fittest

Curious said...

I've heard that since the Bretton Woods Conference in the 40's and the abandonment of the Gold Standard by the Nixon Administration, the current events have been just something just waiting to occur. We have been creating a system of false economy of wealth and illusion, where goods are no longer being produced and services aren't worth the money being paid for them.

If this is true, then won't a stimulus package that is directed towards building and fixing and maintaining infra-structure, stabalizing the auto industry actually create and as the President says, save jobs. And when the US sits down with 19 other countries who face the same predicament we do, will that really mean one world one currency? The Brits have been part of the EU since the 70's and not once have they even come close to adopting the Euro for a currency even though their PM would like to. Would the US be any more willing to let the dollar go for something else?

The end of the free market? I don't think so, although the free market doesn't seem to have done much for anyone but the few who control it lately. God forgive me for saying this, but maybe it is time for change, a change in the way we do business because the old way sucks. Oh and as for the demise of the newspaper industry, well just like the horse and buggy industry, there comes a time when it is time to move on.

[Emeritus] said...

@jay midnyte

something to think about, this survival of the fittest thing?

Tamra said...

Hi Torrance.

Thought-provoking as usual. My husband and I have been chatting about how close to dead-on many of your posts have been about a lot of this stuff over time.

On this one, I'll have to say that I'm with Curious. I am hardly an expert, but ok, the old way of doing things doesn't seem to be working--hell, historically speaking, when has it every *really* worked?

It's way beyond time for a new approach. To (somehow) get ourselves out of this mess and go back to the same old broken and tired ideologies and MOs would just be...I don't even have words for it.

Great post.

Dione said...

It has long been a problem that we no longer have the ONE thing that we produce, grow, outsource as part of our economy. Just about all we get comes from other countries. What do we have as a claim to fame?? Scary thought from a former world superpower in everything...

Jay Midnyte said...

in response to ur radio show....

you was on point like a mug i dont kno who ned lamont maxine or the other person yall were talkin about. lol

But i looked em up.

And its very true, people do NOT read atleast in my generation out of the people i know because of t.v.

nicki nicki tembo said...

Not too many comments to this post huh?

This is no grim reaper tale, it's very real. The fall of the free market has been theorized by many years over the years. One has to only have exposed themselves to some of these works to be able to engage in discourse. But uh, with regard to the subject, seen this coming folk. Death or metamorphis? In my oppinion it's not a matter of if but when and to what extent.

2sweetnsaxy said...

All I keep thinking about is the prophecy of one world order. I wonder if no matter what they do it will still turn out the same way.

ChocolateOrchid said...

Damn. This time I want you to be wrong but.... just damn.

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Freeman said...

@jay midnyte something to think about, this survival of the fittest thing?

Taylor said...

All I keep thinking about is the prophecy of one world order. I wonder if no matter what they do it will still turn out the same way.

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