Posted by
Noam D. Gear on Thursday, January 15, 2009 11:40:00 PM
"Pay no attention to the men behind the curtain. They are the great and mighty OZ".
Paulson, Bernake, Rubin, Greenspan, Volker, and Geithner are the men behind the curtain. They are standing in their booth... flailing away at the buttons, levers, and cranks that give them "control" over our economy, while smoke and sparks come flying out everywhere.
These men are supposed to be well-heeled geniuses of Finance and Economics. But they are really just a cadre of co-dependent imposters. The levers and nobs release smoke and sparks that used to impress everybody. But no longer. Count me out. I see these guys as a bunch of feckless boobs that are the byproduct of Ivy League's dedication to give diplomas to people who pay five times too much money for them.
In reality, these men control almost nothing about the real economy, nor should they. They don’t have even 0.01% of the brain-power that would be needed to play out the economic ramifications of the decisions they make. Robert Rubin was the "genius" during the Clinton years, but prosperity came from having real Republicans in the H of R. After Rubin's first gig ended, he took Citibank for a $20 Billion face-plant by buying up high-risk mortgages that my mother would be smart enough to avoid. She graducated from Keuka College and paid far less money for it. For destroying Citibank, Robert Rubin gained $100M of personal worth, and he will now get another gig in the Obama Whitehouse as the a booster-seat to hold up the boy Geithner at Obama's cabinet table.
Meanwhile, hard hitting Journalists want to know about Sarah Palin’s newspapers, or her son Trig.
Fundamentally, even I know that we cannot allow inflation to devalue dollars faster than interest rates restore value to debt. When that happens, debt will have negative value for banks, and the banks will collapse because people will figure out that their deposits are being steadily lost. They will withdraw whatever remains as soon as possible. "Stimulating" the economy by inflating and devaluing the currency will have the opposite of the intended effect. It will "stimulate" us the same way as getting hit by a truck would "stimulate" us. Our legs will twitter and our chest will heave for a few moments, that's all.
Taaaa-Daaaa! It was all be brought to you be our nation's "smart" people--who always think they need to be working on a problem that is "Greater than Themselves".
It is time for Toto to bite the curtain and pull it back so we can see that our “smart” people are actually stupid frauds who are running a Cleptocracy, not a Democracy. It is time for a million or so financial geniuses in Manhattan to learn how to do something useful, like milk a cow or pick fruit. Their days as paper-jockeys cannot end fast enough. If these people won't get real work, then they should be tossed into the Ocean. Then 25 of the State's electoral college votes should be taken away and given to Kansas.