Why is Washington Dithering with Unemployment High? | naked capitalism


Tom Usher wrote or added | The Democrats are paying for a Republican-neolib-caused depression and because they respond to it as Republicans and neolibs.

"We may be at the end of a paradigm. The US and its trade partners have engaged in a 30 year experiment of deregulation, financial liberalization, more open trade, and deep integration of markets. But most other countries had clear objectives: they wanted to protect their labor markets, which usually entailed running a trade surplus (or at least not a deficit). Many of them also had clear industrial policies. By contrast, the US pretended it was adhering to a “free markets” dogma so that whatever resulted from this experiment was virtuous. But in fact, we have had stagnant real worker wages, with a rising standard of living coming from rising household borrowings and to a much lesser degree, falling technology prices. We have also had industrial policy by default. Certain favored groups, such as Big Pharma and the sugar lobby, get special breaks.

"And who has been the biggest beneficiary of our stealth industrial policy? The financial services industry."

The truth is that those at the top of the wrong-side up pyramid don't care about nation-states such as the United States. They care about their personal empires – personal, private, special estates. Nothing else matters. Workers are just machines. The only thing that matters is the fleeting self apart from the whole. They will die, and they want theirs while the getting is good.

Oh, they are getting their reward now, but wait until they are presented with the bill after they "die."

"But I thought it was supposed to just end."

"You thought wrong."

Thomas Smitherman: It is not simply apathy, high unemployment is in their interests so long as they can contain the resulting dissent.

Tom Usher

I have been writing for years now that systemic unemployment is a fake used to keep inflation down.

They plan-crashed the economy with deregulation and completely valueless exotics securities and high-velocity trading programs, etc., with it in mind to bailout the banksters, not get lending going, consolidating, running up deficits to bring back the "threat" of inflation, and then chopping entitlements, increasing privatization while appearing on the edges to be "reforming" (such as with Obama care that is about as socialistic as black is white), driving up interest rates again after the banksters have squeezed everyone else into utter financial weakness while actually keeping employment as low as possible (which is traditionally backwards).

They'll do all of this as much as the people can stand before the mob breaks out the guillotines again.

We're in for a double-dip that I predicted before the first "V." The next dip will be an "L" or at least a long "U" if the people don't do anything.

The Tea Partiers are sucking up all the garbage from the Koch brothers though, so heaven help them.

Meanwhile, the plutocrats believe that hi-tech will save them from the mob. They've had that in mind for many decades.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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