Your weekly “radio” address from our Debt Pusher-in-Chief...
"Must get credit flowing," this time to those innovating small businesses. Sounds good, looks good, is completely ignorant of the math and what’s happening to our economy while listening to advisors and central bankers who are literally insane.
Innovation, the American way, does NOT come from debt pushing. It comes from capital formation that follows the fair and consistent application of the rule of law. Skirting bankruptcy laws to funnel dollars to the banks is NOT following the rule of law.
The people of America are saturated with debt. The banks of America are saturated with debt and toxic derivatives that are being hidden and marked to Enron like fantasy. The governments, on every level, are saturated with debt. All that debt is owed by the same 306 million people whose incomes cannot possibly pay it back, ever. Yet, our Pusher-in-Chief is not working to clear the debt, no, he wants to add to it. INSANE, quite literally.
Small businesses in this country cannot compete. They have been decimated by the oligarchs who run our money system, our media, our military industrial complex, and by political extension of falsely created dollars, our entire country. “Free trade” wasn’t free. It made the oligarchs rich and destroyed small business as the machinery of productivity was shifted overseas.
Making fiat DEBT available to small businesses is NOT going to revive small businesses or innovation.
Innovation, the American way, does NOT come from standardized testing. Forcing the next Benjamin Franklin or Thomas Edison to be whisked back and forth from one “soccer mom” event to the next and then have to be forced to sit through endless test taking coaching sessions is simply a waste of everyone’s time and efforts. Plus, all those who are gifted in a subject are forced to tolerate those who are not as they must endure the blathering of people whose talents lie elsewhere. Each brain is wired differently and that is a gift. We are all individuals with different and special talents. Teaching everyone Asian style, to become human robot calculators, is a colossal bad idea, a mistake with huge implications. Think about the innovations of the industrial age and now the technological age. America, with 5% of the world’s population holds the vast majority of the world’s patents. Why, and is that trend still in place?
It’s because we used to have an education system that allowed kids time to think and promoted creativity and individualism, not rote regurgitation of some moron’s “ideal” robotron American who can barely pronounce “Constitution” much less understand how money is created in our system of debt pushers. It provided time to find out who they are and to seek out and become proficient in the things that interest them, usually the things where their talents lie. Mix that specialization in with a little creativity, money, and the rule of law, and the next thing you know you have DERIVATIVES! LOL, just kidding, that’s how true innovation came about, Ben Franklin, Thomas Edison, Henry Ford, and even Bill Gates did not spend their days in school studying for and taking standardized (bastardized) tests.
And the capital was there for them, it came in ways that processed RISK. Today’s system is all about ignoring risk so that the creators of paper can profit, regardless of the cost of failure.
Derivatives are the result of the people allowing the bankers to take over our country and political system. The insanity of those preaching Keynes is right there on grandiose, mass psychosis display for everyone to see – you need only look at the charts of debt versus income to know that the debt pushers’ days are numbered.
RANsquawk Week Ahead - 9th December 2013
1 hour ago