The American working class must quickly realize they have the power in this nation. People feel they are helpless against the rich and corporate oligarchs. But, I am here to tell you how wrong you are!!! You are thinking I have lost my mind. No way.
I have had an epiphany, but may have come to it later than others. Here it is: Why are the financial bankers and the real estate industry moguls, as well as the multi-national corporatists all freaking out from the decline in consumer spending, which has made up 72% of our GDP? Why do they continue pressing for the opening up of credit when the people are already drowning in debt? It is because these debt predators have used the American worker as their wealth engine by keeping wages down enough so the worker must borrow money to sustain their livelihood. These debt predators only pay around 17% in taxes from the earnings gleaned from their dividend and capital gain checks, while the workers pay around 35% of their wages. The rich get off easy, while the working person pays the rich person’s share. Also, they have enticed us with cheaper interest rates and encouraged us to get drunk on spending. Go forward and buy cheap foreign-made stuff even though you don’t need it.
They are afraid. They are afraid that if the working suckers don’t begin to borrow again, the financial lenders won’t begin to collect on lucrative compound interest, fees and more. Therefore, if we stop borrowing, and control our spending outside of our daily essentials, then we can bring the lenders to their knees. We continue to force demand down just because we are in financial trouble. Currently, there is too much supply, which is one reason why prices are down. Once the supply is used up, and there are fewer products available, then prices start to climb, and inflation revs up more loudly. The corporations and real estate developers are all hysterical because their supplies are still in warehouses, on shelves, and on brand new empty streets.
It is true. It has already started by default. The American working class has been devastated by the collapse of their home values, and 4 million are upside-down on their mortgages. They are losing jobs at a rate of 500,000 per month! Their retirement plans have fallen 80%. Their wages are stagnant, yet they are watching the corporate and financial elitists receive bonuses, raises, fancy perks, and rides on brand new private corporate jets, while these very same economic vampires suck the currency blood right out of the treasury through bailouts and zero percent loans from the Federal Reserve Bank. We stare in amazement that big CEOs ask for bailouts while refusing to give up their salaries, bonuses and retirement plans as they look to the taxpayers to provide infusion funding for their failing corporations. It’s the No Corporatist Left Behind Program.
But wait!!! We CAN knock them silly just by telling them that we WILL NOT be buying any new cars, or borrowing money from their bank loan officers, or looking for a new house unless President Obama changes his HOPE direction and points it at the guidepost labeled Working American.
We want President Obama and his team of coaches from CITI, or Boeing, or GE, or Morgan Stanley, or wherever told that we Americans are tired of his derailed train already!!! Enough is enough. We had 8 years of an ignorant fool boy-president who destroyed the nation’s economy. He took 22 years of a slow burning economic fire, and poured gasoline all over it. President Obama, enough is enough.
We are tired of the same old faces. Geithner, Summers and Rubin, and the rest of the capitulators, who feel that cheating on their taxes is acceptable until they are caught, and are steering your train over to those very same people who have been stealing the nation’s economic wealth away from working Americans. Enough is enough!!!
We have now created the Consumer Thrift Reform Movement. We will contact our Congressional representatives to tell them that we will not borrow money from any “too-big-to-fail” financial institutions. If we have to borrow, we will go down the street to our local savings and loan, credit union, or bank. But that is only if we must!!! We will transfer or keep in place our accounts in those local banks, too.
We will stop spending our disappearing wages except for our daily essentials. We will withhold our spending until President Obama turns his Demo-con train onto the populist/progressive tracks.
We will do what the women in the play Lysistrata did. They withheld sex from their husbands until they decided to stop warring. We will stop spending until you either nationalize the failed banks, open up their books, consolidate their assets, write off their losses, and restructure, or let them go into bankruptcy. Take back their trillions of TARP and Fed fund window “loans”, which were really handouts, in exchange for their worthless toxic debt. OH BOY!
President Obama, you also need to stop the mortgage devaluation bleeding, otherwise, more Americans will walk away from their mortgages and leave their homes empty!!! Is this what you want, 8 million empty homes by the end of 2009? Fannie and Freddie already know that these home cannot be sold, so they are going forward to try and rent them!! I guess we will need more rental properties. Take whatever assets are inside those “too-big-to-fail” financial predatory institutions and salvage the mortgage crisis.
Next, YOU MUST tell any and all multi-national corporations that have facilities in the United States to bring back those jobs and profits NOW or they will be heavily taxed and tariffed. YOU need to stop listening to the thieves and economic predators, and begin listening to working America.
Then you must END our military aggression in the Middle East. We must return the $500 billion per year from Iraq and Afghanistan. We must downsize our military budget, since we spend more than all other nations combined.
Finally, you must stop excessive spending on Homeland Security as they put funds into spying on Americans and more needless and extravagant programs and more. We cannot afford all of these fat-cat spending programs that do not bring forth an economic recovery, but only take away from it. It is time that private companies begin to manufacture sustainable products that improve the quality of life, and assist the nation out of its economic crisis and not contribute to it by draining the treasury of funds that are needed to remake America.
We hold the power!! If we say NO to spending, so goes the economy, in the first 12 months of YOUR watch.
I hear you now saying that such a scheme would hurt our fellow working Americans, but my answer is that your plan will do more damage over a longer period of time. Your plan will be directing trillions of borrowed money from foreign countries that will NOT rescue our economy from the current and approaching disaster. My plan is a protest action; your plan is an economic policy. My plan would put Americans back to work, and reduce the trade deficit, as well as stimulate the economy from the bottom up instead of from the top down.
Your plan is to leave top tier tax cuts in place, and capitulate to those sending you text messages on your beloved Blackberry.
Working Americans are heading toward a severe recession, if not a depression that may last 10 or more years. Those at the top have plenty to live on, even though they may have to downsize a small bit of their lives, since many have cheated on their taxes, no doubt. Yet, they made their trillions, collectively, from their creation of the world’s biggest Ponzi Scheme. Enough is enough!