The Fraud of Bushenomics: They’re Looting the Country

[babylonsister]

The Fraud of Bushenomics: They’re Looting the Country

By Larry Beinhart, AlterNet. Posted January 19, 2008.

The voodoo economics the Bushies have sold America obscure their systematic fleecing of the nation's public wealth.


The New York Times made it official. The Economy is a problem!

So, now, at last we can discuss it.

Not just discuss it, in rapid order "recession" became the word of the day, from White House, Congress, the Fed and the media.

It's blamed, mostly, on the subprime crisis.

But that's not the problem. It's a symptom. It is the logical, and probably one of the necessary results, of Bushenomics.

Along with low, or no, job growth. Little or no business growth. Depressed wages. And the crashing dollar. (The president has a different vision of the economy. In his vision it's booming! And the number of jobs is growing! Though there is this little blip.)

The idea under which Bushenomics was sold is this:

* The rich are the investor class.
* If the rich have more money, they will invest more.
* Their investments will create more business.
* Those businesses will create more wealth, thus improving everyone's lives and making the nation stronger. They will also create new and better jobs.

Whether or not the people who say such things truly believe them, I cannot say. But that's their pitch, and the media certainly seems to buy it, as do most of the establishment economists.

A more realistic -- and less idealistic -- view of Bushenomics is that the Bush administration and its cronies came at the economy with the attitude of oilmen.

* They inherited a vastly wealth country.
* They looked at it like the oil under the Alaskan wilderness. They craved to pump it out, turn it into cash and grab as much of that cash as possible.

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http://alternet.org/workplace/74262/?page=entire

[acmavm]

1. You damn bet they are. Check out Carlyle Group's latest buyouts. That

should scare the shit out of anyone with a brainwave pattern.

[jazzjunkysue]

2. They ransacked the middle class and working class and now the gov. bails them out.

Just like the Savings and Loan bailout.
Just like the Airline bailout.
Just like the insurance bailout.
Just like the oil refiner's bailout.


The neo con-scheme worked perfectly to re-distribute wealth, all the while making it look like the government is benevolently compassionate.

Like vampires, they loot an industry or pick the pockets of the poor and then magically decide to have this bi-partisan bailout of the mortgage companies. I heard this morning that the credit card companies are getting the next bailout.

So, they drain whoever they want and the government restores the poor victim back to life support.

They used to do this with slaves, too. Keep them barely alive.

This game is so simple and no-one calls them on it. Every time the multi-national corporations come out ahead and americans come out behind.

Edwards is the only one saying this plainly. HIllary's not going to help women and Barach's not going to help blacks or minorities. They're both too attached to the establishment to stop the siphoning of middle america's wealth.