Category Archives: Nationalization

Piercing The Political Tick

fingerprint2

Found this sharp stab at political-economical consciousness at the always provocative American Thinker in a few words posted by the self-identified AWARE54397, and from my own current sorry state of economic ruin all I can think to add to the soil is this—Damn. I wish I had written those two paragraphs. The political tick, blood-filled and bulging. Quite a fit description of the body politik...

So let us get on with the rain seeding...

It won't matter if gold and oil are pumped out of the ground in record quantities, there is no recovery, no "rebound". The problem is the same as the Soviets, who despite huge natural resources and a willingness to exploit them much more ruthlessly than we, continued down the road of want, shortage, and economic oblivion. Our problem is political not economic. The political class runs the economy and it is that simple. The political tick is now bigger than the economic dog. Do you think any benefits derived from increased oil production won't be siphoned off by the usual political bandits through the instrument of wealth destruction called government for the enrichment of the favored cronies?

Until the scope and power of government is severely curtailed no amount of wealth will change the worsening economic picture. With more government than we can afford the profit will always go to support it, not us.

Perhaps these also apply:

Mr. Obama is exactly what he has proclaimed he is many times over, and that is a "Citizen of the World"; a Globalist. A Globalist, who is familiar with and identifies more with Muslim culture than Judeo-Christian culture. Those people who refer to themselves as "Citizens of the World", or as "Global Citizens" believe the United Nations should be the sole arbiter for every international solution (i.e. AGW). It is the United Nations Agenda 21 which we are seeing being implemented in this country in a gallop under this administration.

These Globalists are the new NAZI movement except that instead of being nationalists they are internationalists. It is an international socialist movement which embraces the same totalitarian goals which Islamofascists pursue. Both are para-theo-political belief systems and constructs.

The parallel is that the Globalists are the new NAZI Party and the Islamofascists are the new Italian Fascists from WWII. Guess who gets to play the new Jew? The Conservative Constitutionalists, and Judeo-Christians get the role of the European Jew of WWII.

I hope that answered your question. Now have a "rooping" good day.

Make No Mistake About It

THE UNITED STATES MUST CHECK ITS SENTIMENTALITY at the door, shake loose of the leftist solipsisms and get down to the mature and necessary business of clarifying our geo-political relationships across the globe. Again we must consider the Red China redux.

Militarily: Restore the military's inventories of weapons to sufficient levels, replace obsolete weapons (with F-35s, Virginia class subs, etc.), and equip the U.S. military to protect the U.S. and its allies against Communist China. This must include a national missile defense system capable of intercepting all Chinese missiles, cyber defenses, and modernized minesweepers. Congress should also refuse to reduce total defense spending. America's global military deployments should be reconsidered and realigned with the 21st-century threat environment.

Economically: Protect the American industry with strict product quality standards and export-import certificates to end America's large annual trade deficits. Also reform the tax code to prevent corporations from fleeing abroad (e.g., to China); abolish all bans on drilling for oil and natural gas to ensure plentiful, cheap energy for the U.S. economy; and reopen America's mines of rare-earth minerals.

Diplomatically: Strive for good relations with China's neighbors, recognize their territorial claims rather than China's, and establish an Asian NATO to bring America's Asian allies and partners together against China and North Korea. Sell weapons to China's foes.

Morally: Speak out for Chinese dissidents and label the criminal Chinese regime as such. Link Sino-American relations to China's human rights record. Ronald Reagan did so throughout the 1980s: he recognized the USSR as an evil empire, publicly called it such, and used the moral lever to win the struggle against the Soviet Union. Today's American officials should do the same vis-à-vis China, the new Evil Empire.

Argentina And I Stare Into Crisis

Argentina
Considering nationalizing pension funds...

ARGENTINA'S BOLD PLAN TO NATIONALIZE its private pension funds should make it easier for the government to refinance short-term obligations but would further undermine its credibility among investors, Moody's Investor Service said on Thursday.

President Cristina Fernandez de Kirchner unveiled on Tuesday a plan to take over the $30 billion in funds managed by its 14-year-old private pension system, saying she seeks to protect pensions from the global market crisis.

"Although the proposal, if approved, would provide the government with greater financial flexibility in the short term, it undermines the government's already weak policy credibility and adds to negative perceptions about Argentina's institutional integrity—particularly governance and respect of contracts," Moody's analyst Mauro Leos said in a statement.

The move would boost the government's annual revenue by 1 percent of gross domestic product as contributions of the private pension participants are brought into the national budget, Moody's said. With higher revenues, the government will be tempted to delay a needed adjustment in public spending, which is on an "unsustainable path," Leos warned. "The pension proposal appears to be a short-term fix to a long-term problem," Moody's said in the statement.

Cristina-de-Kirchner
Cristina de Kirchner

Hello. This is definitively a global crisis, and one which escalates with each passing day. But what can the average Joe the Plumber do to protect himself and his family. I just had an argument with my wife about withdrawing some cash to tide is over in case of a money freeze or continued run on our FDIC-insured but troubled bank which ended when she snorted, "But we pay all our bills online."

I gave up. Some people just can't snap out of the foggy bottom haze they've created for themselves. Cash reserves, cash reserves, cash reserves. How many times do we need to hear this before suddenly we find ourselves liquidated or frozen out of assets for who knows how long if not forever, and can't put gasoline into our tanks or put food into our mouths, especially if we must leave wherever we find ourselves in peril —in a hurry. I'm not advocating panic mode here, but I do believe in being prepared, old Boy Scout, Troop 219, that I am. Guess she's afraid we'll lose ten bucks worth of interest on a few thousand dollars in a short run. Go figure.

Riding The Big Waves of Capitalism

Capitalism operates in waves. I have held the opinion for a decade or so that the United States would need to eventually ease into a form of national capitalism in order to compete with similar large regimes in China, Russia, Europe, and several oil-rich quasi-socialist entities in the Middle East. Let me be perfectly clear. I am not advocating a misguided heavy-handed socialist agenda for America, or anything remotely close to the pie-eyed Marxist flim flam so popular among Left-wing bookstore café hipsters who are as personally selfish as any pickup truck-driving capitalist I've ever met. Yet so many of these lovely people with the trés chic smiles embrace an ideology which always seems to end in a pernicious totalitarianism and uninvited oppression by an elite class, quite a shell shocker or two in scale from the worse forms of capitalism ever practiced. Forget all that shuck and jive about false consciousness. It exists, but no one has a monopoly on a justifiable antidote. Life is not that damn complex, even for the uneducated. After all, even for the Big Kahuna, negotiating a Big Wave is a good thing. Negotiating a tsunami, not so much.

I predicted this need to ease into a form of national capitalism back in the 1990s to a loosely knit group of internationalists who were known as the Sworgists for no other reason than the fact that we had gathered around the fledgling Scenewash Project to discuss the future of capitalism. Back then, I was a staunch believer in the capitalist system, and at some point in the late 90s I coined the phrase, "Capitalism has proven to be the most effective and purest form of communism ever practiced."

Having founded the listserv I dubbed—THE SWORG SWILL—I was operating among several staunch Marxists, and a couple of progressives who decried all previous failed experiments, of which Situationist Marxism and formal capitalism were the two more prominent. We hailed from Washington, DC, Austin, TX, Nottingham, England, Peoria, IL, and Sidney, Australia. All of us intuited that capitalism was weakening and its constitutional faultlines deepening. Trapped in our own miasma and personal biases however, we often disagreed on how to proceed with our investigations, and the group ended rather abruptly in May, 2000, after several years of communication.

But I had I suggested that we didn't need no stinking revolution because I viscerally agreed with the poet and musician John Lennon, who rejected revolution while advocating peace. No bloody pacifist am I—given the horrid nature of the world—I however still prefer peace to war, a slap in the face or a kick in the collective ass to total war, and a purpose bounced ounce of dignity in life for everyone not waving a death sentence at me or my family. My impression then and my impression now is that capitalism would fall of its own weight and greed, and in that particular historical moment, a massive reorganization towards a kinder gentler socialist model could possibly improve the government, its daily standards, and the uncommon conditions of more common people struggling in this world, where unfortunately the many prop up the few.

I think that time has come. To that end, let's observe the festering approach in today's New York Times:

US Supreme Court
US Supreme Court
FINANCE EXPERTS SAY THAT HAVING Washington take stakes in United States banks now—like government interventions in the past—would be a promising move to address an economic emergency. The plan by the Treasury Department, they say, could supply banks with sorely needed capital and help restore confidence in financial markets.

Elsewhere, government bank-investment programs are routinely called nationalization programs. But that is not likely in the United States, where nationalization is a word to avoid, given the aversion to anything that hints of socialism.

In past times of war and national emergency, Washington has not hesitated. In 1917, the government seized the railroads to make sure goods, armaments and troops moved smoothly in the interests of national defense during World War I. After the war ended, bondholders and stockholders were compensated and railways were returned to private ownership in 1920.

During World War II, Washington seized dozens of companies, including railroads, coal mines and, briefly, the Montgomery Ward department store chain. In 1952, President Harry S. Truman seized 88 steel mills across the country, asserting that unyielding owners were determined to provoke an industrywide strike that would cripple the Korean War effort. That nationalization did not last long, though, because the Supreme Court ruled the move an unconstitutional abuse of presidential power.

In banking, the government took an 80 percent stake in the Continental Illinois Bank and Trust in 1984. Continental Illinois failed in part because of bad oil-patch loans in Oklahoma and Texas. As the nation’s seventh-largest bank, Continental Illinois was deemed “too big to fail” by federal regulators, who feared wider turmoil in the financial markets. In the end, the government lost an estimated $1 billion on the bad loans it bought as part of the takeover of Continental, which eventually became part of Bank of America.

Read it all.

Anatomy Of A Crisis

Missouri
Missouri

THE CURRENT FINANCIAL CRISIS is very easily pinned down to a series of legislative acts. Follow the money. Learn just who is the culprit here. And here's a postscript to the previous entry concerning the Missouri law enforcement "Truth Squad" hot on free speech. The Republican governor of Missouri, Matt Blunt has issued a scathing rebuttal to Obama's campaign:

“Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts—not a free society.”

No word yet on what the governor has in mind for these two named prosecutors who have signed on to this travesty. Meanwhile I have my own mortgage crisis fall into my lap, just as I was making a move in my painting career.