Tuesday, September 23, 2008

Look at Sweden for a way out of the financial mess il signor Paulson & co. got us into!

America's is so in love with its image that it looks at itself in the mirror of exceptionalism. Well, old darling, you ain't. The likes of the anal hair stylist supremo & US secretary of the Treasury Hank Paulson & his co unindicted conspirator at the US Fed Ben Bernanke simply mirror the vacuity of their capo Herr Bush when it comes to history. And in splendid exuberance and sheer incompetency they bungled the job of dealing with the subprime meltdown, a meltdown il signor Paulson who has donned a toga like Mussolini which he helped create and now wants a blank cheque to bail not only his own Goldman Sachs but the whole group of thieves on Wall Street. Well, it doesn't look as though he's not going to get what this will gutter snipe desperately wants. Incapable of thinking outside the box of free markets, he didn't even look at the way Sweden took care of a similar meltdown but not from subprimes which is Paulson & co's monster, in 1992. Sweden 'nationalised' the banks, put in tight controls, and honest supervision, spanked the banks out of tough love; in the end, the banks went back to the private sector, chastened and in better financial condition, and without a strain on the rate or taxpayers. But why would an anal hair stylist or a university professor of economics like Bernanke who studied the Great Depression look at another country's experience in a similar crisis? The simple answer. It ain't American; it didn't do what orthodox free trade economics demanded. And so Sweden emerged a better economy, whilst under Herr Bush's stupidly held beliefs in an unfettered free market almost bankrupted not only the US but the world economy. Now the US congress, Democrats & Republicans alike want blood, and punishment for the fat cats of the plutocratcy who still live high on the hog as the standing of living of the ordinary slog has become worse and worse. Time for a Mme Defarge to demand her pound of flesh!

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