Monday, March 16, 2009

On the Advice of Chief Cultists Greenspan, Rubin, Gramm, et al.

Originally posted as a comment to Glenn Greenwald's blog Unclaimed Territory on

If this was an economic hit job, meaning that "financial weapons of mass destruction" were deployed like the Israeli military recently deployed against Gaza

And if they were intended to demonstrate the infinite kinetic power of the cultists, to "jump start" the economy, or any of a number of Frankensteinian metaphors, which, of course, have gone horribly wrong precisely because of the unshakeable faith of the cult of kinetic power in "leverage," force, power, always applied from the outside, preferably by supersonic jets, to accomplish everything they desire;

And if the blatant hubris of positions leveraged 30, 35, or even 40:1 indicate that the cultists know no other way of being in the world, other than kinetic force (their response, to being overleveraged: more leverage!);

On the advice of Chief Cultists Greenspan, Summers, Volcker, Geithner, et al., over-payed paper-pushers did with our economy what every 3-year old does with a wind-up toy: they grabbed the wind-up key and twisted like mad until they broke the toy.

It was a bad idea done badly, and now the "bonuses" look more like the kickbacks we give to corrupt foreign officials during our overseas economic hit jobs.

Was the disaster the policy, thus the bonuses?

One of my biggest problems with the current discourse is the illusion that there are separate players involved when we say things like, "Wall Street did this" and "The Fed did that," etc. From the outside, they are distinct; but aren't they all on the inside?

There's a beaten path, from Goldman Sachs, to the Fed and Treasury. And back and forth. So what is private, what is gov't anymore?

Looks to me like a concerted effort to FORCE the economy, an organic being, to dance to the tune of fanatical mechanists, with entirely foreseeable results: once again, greedy men have killed the goose that lays the Golden Eggs.

It's the same process, over and over: abusing organic beings by treating US as machines.

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