For the 51% Who Do Not Believe that the GOP Engineered This Recession... [View all]

[McCamy Taylor]

Last edited Wed Jun 13, 2012, 04:01 PM - Edit history (1)

Congratulations! 49% of Americans have been paying attention. They know that Republicans have set up roadblocks to prevent economic recovery for political gain. However...

Since the GOP and its CEO supporters have actively bragged about their efforts to cut jobs, limit cash flow and in general make our lives living hell, I have to wonder about the other 51%. Maybe they are too broke to afford a newspaper or cable or Internet access. Maybe each day for them is a struggle just to get by. If you know someone who has been hit so hard by the recession that politics has become and unaffordable luxury, please share the following. Because none of us---especially those who are victims of the recession--can afford not to vote this year.

For the 51% Who Do Not Believe that the GOP Engineered This Recession I submit the following into evidence:

1. “People Without Homes Will Not Quarrel With Their Leaders”

From the family that got its financial start selling the Union Army weapons that blew up in soldiers’ faces:

Capital must protect itself in every way...Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
-J.P. Morgan

http://www.dailykos.com/story/2010/03/01/841940/--ldquo-People-without-homes-will-not-quarrel-with-their-leaders-rdquo-J-P-Morgan

Correction: Note that Morgan's son and namesake was a Hitler backer (along with Prescott Bush) and a member of the coup that tried to get rid of FDR.

2. Anatomy of the Murder of the American Dream

The Bush administration actively aided the Banksters as they created the mortgage meltdown crisis. In 2004 the FBI said that mortgage fraud was rampant in this country. Bush’s response? Prevent state attorney generals from prosecuting the criminals involved.
http://www.politico.com/news/stories/0911/63214.html

When Eliot Spitzer tried to warn Americans in a Washington Post editorial called “Predatory Lenders Partner in Crime”

When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits. So willing, in fact, that it used the power of the federal government in an unprecedented assault on state legislatures, as well as on state attorneys general and anyone else on the side of consumers.

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html

he was targeted by the Bush DOJ for malicious prosecution in the press---accusations that never panned out into actual criminal charges.

What does it all mean? You lost your dream home, because Bush wanted you to. And then, Bush rubbed salt in the wound by handing the Banksters who stole your home a tax payer funded bailout.

3. Capital Went on Strike

In the wake of the bailout that was supposed to boost up the economy by providing credit, the Banksters decided to stage a “capital strike”, meaning they refused to lend money even as small businesses---the ones that make good jobs in the U.S. were desperate for cash.

Zero Hedge: "Total bank reserves with the Fed hit an all time high, surpassing $1 trillion, as banks continue to hoard cash. The amount of extra lending that could have taken place but didn't was $65 billion week over week, or a $130 billion increase in just the past month."

http://blendedpurple.blogspot.com/2009/10/capital-strike.html

4. John Boehner Boasted About the Capital Strike That Was Keeping Unemployment High


John Boehner—who should know what the GOP is up to---said last year that the nation’s job creators had staged a capital strike. No, you did not read that wrong. He admitted—correction, he boasted that business leaders in the US had decided to stop creating jobs.

On September 15, House Speaker John Boehner announced that the nation’s “job creators” — a flattering euphemism for “business owners” — were on strike. This was the proximate cause of the nation’s unemployment woes, Boehner maintained. Until those business owners received the low-tax, deregulated world they wanted, they would continue to keep their wallets in their pockets.

http://www.harpers.org/archive/2011/11/hbc-90008323

Again, you are homeless, jobless, living on your brother’s couch if you are lucky and on the street if you are unlucky, because a bunch of mostly Republican ricvh businessmen do not think that they are rich enough.

5. House Republicans Did Their Part to Keep Americans Unemployed


House Republicans admitted to voting against a jobs bills because they wanted to hurt Obama by hurting the economy.

“’Obama is on the ropes; why do we appear ready to hand him a win?’”

Of course, it was the American worker who was on the ropes at the time when the GOP decided that it would be politically expedient not to lend a hand. So, if you are currently unemployed and out of benefits, the Republican Party is extremely pleased to hear it.
http://www.politico.com/news/stories/0911/63214.html

6. Republicans Embraced Fiscal Policies Designed NOT to Help the Economy or Create Jobs

How did the GOP under Bush spend our tax money? On tax cuts for the rich and military spending---the two forms of federal spending that are least effective at improving the economy. Massive tax cuts for the rich which decrease the government’s ability to spend are actually detrimental to the economy. The most effective way to stimulate the economy through government spending? Education, followed by infrastructure and health care. (See the links below). This is old stuff. Every businessman and politicians knows what is good for the economy and what is bad for the economy. So, if the GOP insists upon more tax breaks for the rich and more military spending and less spending on education and infrastructure and health, it can mean only one thing---they are following Grover Norquist’s advice, which is to drain the federal bathtub so that our tax dollars can no longer do us any good. Why does Grover Norquist hate us? He doesn’t. The lobbyist is simply looking out for his alcohol and tobacco customers who do better when we are despondent.

http://www.peri.umass.edu/fileadmin/pdf/published_study/PERI_military_spending_2011.pdf

http://nontrivialpursuits.org/economic_stimulus.htm

7. American Business Leaders Vowed Not to Lend Money or Create Jobs

At least not until Obama is out of office. For example:

A Georgia businessman has an ultimatum for America: Fire President Obama, or he will not hire any more workers.

http://abcnews.go.com/blogs/politics/2011/11/georgia-businessman-refuses-to-hire-until-obama-is-fired/

And he was not the only one. If someone can remember the name of the CEO who called upon fellow business leaders not to create jobs or loan money during the Obama administration, please share it. Hint: I think he said that they would be "traitors" to their class if they didn't do all they could to keep the economy in the toilet.