This week the House committee investigating
the three to eight billion dollar loss
reluctantly and belatedly admitted by J. P. Morgan Chase, did everything but call Chase CEO, Jamie Dimon,
"Your Majesty", when he appeared for questioning. This is exactly as the
comparable Senate committee did last week. It's clear beyond a doubt, our elected representatives fear financial
capitalists more than they fear us. Let's change that.
The challenge for us will be to counteract
the illusions successfully implanted into popular myth by the corporate owned and controlled
media. Chief of these is the lie that government
is the problem and not the financial capitalists.
Thus, the world has been turned upside down, as it were, by the corporate owned media’s
successful establishment of the message that the worst economic crisis since
the last depression was a result of too much government spending and regulation. In actuality, the opposite is the case as illustrated time and again by Nobel Prize winning economist, Paul Krugman. His most recent book, End This Depression Now, further describes what was learned from the "Great Depression." That is, economic downturns require government stimulation of the economy rather than austerity. This is the time for maintaining public employment of teachers, mental health workers and infrastructure maintenance personnel, to name just a few of the vital elements of a meaningful democracy. Our infrastructure is crumbling. Work needs to be done. Workers are ready to restore our base. Yet, the brakes are applied when the accelerator is most needed.
Clearly, when the facts are portrayed in a logical
and consecutive manner, as we must continue to do in order to change this disordered perception, it becomes obvious that the crisis was a result of deliberate risks and
gambles Wall Street took with our economy and our resources. The very same people who caused the loses, and consequently half of our current national debt, knew they could turn
to the US Treasury for a "bail out." This highlights the ultimate duplicity: corporate socialism for the ruling elites and free market fundamentalism for the 99%. And all of this
has been accomplished with assistance of our bought and paid for representatives in Congress along with a consolidated media owned by and managed for the One Percent.
Through the instrumentality of these manipulations the One Percent has successfully
deflected the blame for their follies on “Big Government.” And they will continue to do it in their movement to dispossess the 99% of its remaining wealth. Their objective is to demolish the very little regulation and oversight that remains as a barrier to unlimited accumulation of wealth by dispossession of other's wealth.
The public, subjecting themselves daily and
hourly to corporate controlled media, internalizes this deception in the same way that it is manipulated to purchase laundry detergent, beer or deodorant. Turn off the television. Turn on independent media such as Democracy Now. Read. Get out on the streets and make news. This is our country. This is our world.
