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Tuesday, February 3, 2009

The Consumer Thrift Reform Movement

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!


solbama said...

"The Consumer Thrift Reform Movement"= How can one take this simple concept and create action, or rather inaction, on the part of middle class America?
I remember thinking, when gas was four dollars a gallon, that if only the working class would organize and not buy gas for some brief period of time, then the price would surely take a reversal. I also remember that everyone I spoke with concerning this agreed.
There has to be a uniting catalyst, otherwise only scattered points of impact, whereas, what is necessary is a heavy, focused impact.
I voted for Obama because I thought he would be a leader to bring forth such a focus. I have not conceded I was wrong, however, thus far I see more of the same. Our problematic situation can not be phrased more simply than the following verse:
"The borrower is servant to the lender" - Proverbs - Until such time that President Obama understands this simple truth, he will do as all presidents have done since the days of Lincoln.

carlandjerry said...

Hi there,

To answer your troubling question of how to get America to act? I wish I knew! I guess it begins with one or so people, and then expand it outward, yet that action is idealistic. What would be the catalyst? It is already here, but many are really not thinking along a line of action. Many just stay frozen. Although, people mobilized in huge numbers to get out and vote, yet they had Obama to catalyze them.

As we are beginning to witness, that proverb has taken a unique turn in that millions are telling their lenders to stuff-it, as they walk away from homes that valued less than their original purchasing price. And, big lenders are letting developers of shopping malls go delinquent without legal action against them because the lender to stuck, and afraid the shopping mall will close down if payment pressures are too great.

We are witnessing an abandoning of the rules. This is a different time, and it is unfolding.


trizzler said...


now you know what i meant a few months ago when i suggested a depression would be a good thing. Of course at the time you thought i was just some cold hearted bastard looking to kill the working stiff. If we stop buying we create a depression, thus destroying the wealth of the elites that control washington and the company's they run. Destruction breeds creation. If you do not remember this check the comment forums from the economocrat sometime back around september, glad to see that your thinking is evolving. Society is brainwashed into thinking they should just keep buying, and now you see why my value's do not coincide with society. Why i hate republicans and democrats. They are on the same team and that goes for Obama too.

carlandjerry said...

Trizzler, I am sorry but I don't believe a depression would be a good thing. I would not want to see World War III as the way out of it.

I was willing to assess Obama's economic recovery plan and see if he would move away from business-as-usual, in some respect, but this is not happening.

I am suggesting a consumer movement to push the agenda, and not a policy to collapse the country into a depression as the medicine for the infection.

Destruction is only one way toward rebuilding because once everything is burned to the ground, and there is nothing left, of course, rebuilding can occur. That solves nothing except a pile of ashes. It takes longer to rebuild once there is nothing left.

Better to start with something standing then let it burn to the ground.

trizzler said...

fair enough, but that only applies if their is anything left of the structure to save my friend! America as a republic died all the way back in 1861, america the empire will die sometime between 2009 and 2011. I believe the structure is rotted to the core, the balance sheet must be wiped clean, just as the banks must come clean with their balance sheets. I'm not saying get rid of the institutions from the republic, just everyone who has perverted them. My friend i think a depression is in the cards if we want it or not. I suggest buying a gun, and when it comes, not if, we shall see who's viewpoint of humanity is more true. You seem to think that mostly humanity is inherently good, but i disagree. Only time will tell.....

solbama said...

The great majority of Americans want change, regardless of their political agendas or their class status. But, we have been programmed to seek not necessarily where answers lie, but rather, where the light is best for the search.
In order to arrive at an appropriate solution to America's economic dilemma, we will first need to recognize that propagation and continued promotion, of what I consider a false premise, must first be brought to the American peoples' awareness.
The inherent problem with our economy is debt. Whether it be connected with the housing market, credit cards, stock leverages or what have you. Nothing we do within the system to alleviate our problem will provide any long term solution, for it will always be, in some form an attempt to pay debt with more debt. It is "the system" itself that is flawed, at it's very core. Paying off debt without first reforming "the system" is not possible.
The American people need to be awaken from their ignorance of taking for granted that our government controls our monetary system, and understand that the Federal Reserve has never been, and is not currently a government faction, but rather a private, for profit banking entity.
This is the awareness that needs promoted on large scale. There is a vast difference between not ignorance and stupidity. And, the American people are not stupid - if they understood how are monetary system worked, with debt based banking and fractional lending being it's core principals, they would at last recognize real change and demand it.

carlandjerry said...

Trizzler--I can also believe that a depression is on the horizon. I do feel that there is too much compromise at this time within our government. There is no more time to play games with already rotted out mega-banks. I am not one to buy a gun and wait by my front door with it. That is just not me. It makes me think of Neil Young's song Powderfinger. "Look out mama there's a gun boat comin' down the river."

The "slate" will definitely be changed from the way it has been written. Yes!

Solbama--I wish I felt more confident in the America people, who so blindly have been led over the years to the flogging with willingness. Reagan told them it would feel good, and they believed him. And now, everything they have is on the skids. Foreclosures are mounting. Their lower paying jobs are disappearing. January's filed jobless claims amounted to $588k up 3k from December. The numbers are 61% higher than 12 months ago. It is all so very grim. A depression would be worse than the last one because we just don't make that many things anymore.

The belief that debt is an asset, and that constitutes how the wealth of a nation is determined, is currently being melted down to nearly nothing. Debt is a liability, and not an asset, as you, I, and T know it.

Many assumptions, presumptions, principles, and postulates will begin, as they are now, proven wrong. We have begun a new era, with a new paradigm. Americans will be forced to see how it will work, but from my own experiences, even those with understanding are still clinging to the familiar and the known. People are afraid to change directions.

The concept of fractional currency has morphed out of proportion. The idea of leveraging paper money 100:1, 1000:1 has now come to slow walk instead of running at warp speed.

Obama is smart. He knows what is before him. He is a coward, basically. He is unable to stand up to wealthy welfare state---kleptocrats. He must call out those who have no ideas or whose ideas are regressive.

He has to play the game to win. But, he hesitates.

thanks for the discussion guys, I appreciate it. jerry

solbama said...

And there you have it - not a whole lot more to say on this - it needs be said to Joe America- Jerry,I concur with your view on Obama, but hope still lingers. I am currently working on my next blog post "A Brief Introduction to Islam". It should be ready in a couple of days. Islam has, of course, gotten a bad rapp the last few yrs. People fear that which is unknown- thought it may be of help.

Anonymous said...

I hope you sent this to Washington and I don't mean PA!
Americans need to quit thinking they must have "it".
Less is more & buy American should be the American mantra.
more should be invested in education, not consumption.
We've become a nayion of coneheads.

carlandjerry said...

Anonymous--thanks for the comment. Yes, I did send my perspectives to Obama's website. I see Arlen Specter, and two other not-so-Cons have decided to vote with the Democrats for a stimulus package. Unfortunately, the bill looks like swiss cheese--all full of holes.

More should be invested in education, but what will it bring? Smarter people out of work? Some level of consumption will be needed later, in order to bring the nation into a more self-sufficient paradigm, and hire those domestically educated workers.

Free trade needs to get a second look. Yet, "Buy American" products would be laced with foreign raw materials. But it still is a start. All government entities should buy as much domestic product as possible.

It is time for all people to call or write their government officials and make their stand heard loud and clear.


Anonymous said...

The big O's 'Hope and Change' mantra must sound pretty hollow now. The lemmings are starting to fall off the cliff and hopefully some will look down before its to late.

The guy is clueless, just watch him when the telepromter is off, his handlers(Ex Clinton people) direct his every move. Same people who helped get us into this situation in the 90's!!

carlandjerry said...

Anonymous---At least the guy can read, that is more than the Republicons we have been watching over the past few months can do!!

What continues to amaze me is how, in spite of the 30 year Republicon devised Ponzi Scheme, which brought America to its knees, you still don't get it and continue to breathe in the mind-altering gas.

The reason Ted Kennedy wrote part of the NCLB bill was to make sure there were articles within the bill that contained achievable milestones and would not fully punish schools in communities where it would be extremely hard to raise scores in the same way suburban schools would be required to do so. The Bush administration had his"CONS" write in articles to the bill that made it very difficult for teachers to teach because they are now required to teach the test, do burdensome paperwork and over-track other scores. There goal was to finally end public education. Kennedy worked to stop that objective.

It is too bad that you belittle the Constitution and what it means, since the nation sacrificed so much so we can abide by it today. (I'm not sure you really understand it based on our comment on Obama's Superbowl). I am not so sure you understand terrorism, either. The Geneva Convention specifically states that torture is illegal. It was written following a war filled with torture and murder. Terrorism is a technique and not used to identify an enemy nation state. Terrorism is used by nation states, such as waterboarding. The data shows that torture does not produce the desired results.

Your John McCain political party of economic Talibanestas have designed the system, since they began their fascist klepocracy 30 years ago for the sole purpose to rob the country of its wealth. It wasn't until they took it to its extreme that they finally destroyed it. Approximately 40% of all the world's wealth has been destroyed, too!!! And, it will increase further. These Republicans want to continue their thievery and that is on reason why Obama is unable to implement useful and meaningful change. He wants compromise but the CONS don't. They want more losing tax cuts, especially to benefit their uber-rich supporters. Tax cuts didn't stimulate the economy, otherwise, there would be NO recession today.

As the country's un/underemployment rises to nearly a quarter of all workers, and people are unable to pay their over-valued mortgages, many of whom were relied on by businesses to spend money in their stores and shops, will not be able to support those local businesses, therefore will be forced to close putting many more into unemployment. The downward spiral then continues.

It is not Obama's fault. He inherited this catastrophe . And, to believe McCain could fix it, is the real laugh you should be talking about!!

Anonymous said...

Give me a break, Kennedy wrote the NCLB bill because Bush thought(wrongly) that he could change Washington DC not to be so partisan. HE reached his hand out and the LEFT bit it EVERY TIME!!! He didn't learn from his father who suffered the same thing.

Tax cuts bring MORE REVENUE into the coffers everytime its tried because when people(NOT GOVERNMENT) spends money they will try and get the best for their dollar. As that dollar moves around the private sector it generates more wealth for all those involved. If the government didn't think they could spend $1.25 for every $1 they get there wouldn't be this debt.

The greatest Ponzi scheme(Social Security) is a lot older than 30 years old.

I don't remember ever mentioning McCain??? He DEFINITELY wasn't my 1st, 2nd, 3rd, or even 4th pick but I held my NOSE in the general election because I could see that O is so inept that McCain would even be better!

I NEVER BELITTLED the Constitution!!! I respect it and believe in it. It is you guys who DO NOT BELIEVE OR RESPECT IT!!

Your posting are so full of HATE and ENVY I don't know why I even read them.

carlandjerry said...

Anonymous---Hate is only in the eye of the beholder, sir! I have no hate. You must be reflecting onto others what lies in your own heart. I have passion and conviction in my heart.

Regarding NCLB, I think you need to review the information that brought Kennedy into that bill writing process. The Republicans, led by Santorium, wanted to see public education disappear. This is no opinion but fact. They rallied hard to phase out public education with educational vouchers which could be used in any or all schools available to the holder. They wished to use taxpayer funds to transfer education away from public accessibility to private.

Now regarding tax cuts, the data shows that for every dollar spent on a tax cut, only 30 cents comes back to the Treasury. For every dollar spent on stimulus, the data shows that an extra $1.25 comes back to the Treasury. So, I really don't know what you are talking about!!

Social Security is a Ponzi Scheme? Are you kidding? How about patents and copyrights, which are held exclusively for several years, if not longer, and many times with some adjustments, forever. By holding such legal tender, one can own a monopoly for decades jacking up the cost of medicine forcing many elderly to choose between food and medicine and heat in the winter.

Social Security in NOT Ponzi, but an insurance program, which exempts anyone making over $90k from contributing into it (all earnings beyond the $90k are exempt), therefore, that income earner can channel their earnings into private investments. Yet, that earner still receives SS payments upon retirement for contributions put into the system. Again, what are you talking about?

The Ponzi Part came under Reagan who was told by his VP, senior Bush, and his economic team, that since he had racked up the biggest presidential deficit of all time, at the time, and nation was spiraling into recession, due to his huge military spending and TAX CUTS, he needed to "borrow" from the Social Security trust fund, which was off-budget, and use it to try and balance the nation's budget. Those IOUs were never paid back!! Now, that is a Ponzi Scheme!!! If every dollar earned went into SS without exception, the system would be solvent. If every dollar borrowed would be paid back, the system would be solvent.

What I hear from you is contempt for the average working stiff. McCain would have killed Joe the Plumber with his tax cuts, and program slashes, and Neo-con furthering programs.

No one is forcing you to come to this blogspot. Feel free, as the Constitution allows you to do, and resist your point and click compulsion to read our work here.

Look, if you are so passionate about your beliefs, then start up a blogspot and send me your e-address. I will read it!! If you feel that my shouting out offends you, then don't read it. But I have my beliefs and others come here by the hundreds to check it out.

thanks for reading, jerry

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