- Erase what little home equity Americans have left, wiping out up to 100% of the nation's #1 source of retirement money, sentencing millions to poverty and driving foreclosure rates through the roof.
- Push banks like Citibank, Bank of America, Wells Fargo, JPMorgan Chase, US Bankcorp, SunTrust, Capital One, and many others back to the edge of the precipice.
- Greatly diminish the U.S. dollar's buying power and end the greenback's reign as the world's reserve currency.
- Kill what little consumer spending is left in the economy, slash corporate earnings and leave the stock market a smoking ruin.
What follows next is a synopsis of a great article by political science professor David Michael Green:
In the 1930s, the only thing we had to fear was fear, itself. Today, the main thing we have to fear is us, ourselves.
We live in a country -- nay, an empire! -- that insists on destroying itself. We're part of the generation of self-induced decline. Our people are the fools who perfected the fine art of committing suicide by stupidity. It's an astonishing phenomenon, and one of wide participation.
The Republican Party was once a moderately conservative, pro-business outfit -- until it was highjacked by the oligarchy and turned into a full-on predatory machine, hiding behind the facade of hate, mobilizing issues like bogus overseas threats abroad and uppity brown people and demanding women at home. Basically, any way that middle class white males could be distracted from their sinking economic status -- through the diversion of a sense of superiority over others, or the supposed threat to that superior status -- was employed to cover for a party whose true agenda was to quietly produce the greatest transfer of wealth in all of human history.
Having succeeded dramatically, they are back at it again. It is now transparent, for anyone who cares to look, that the ugly tea party movement in America is an invention of the Koch brothers, Rupert Murdoch, Dick Armey and their sick ilk, once again mobilizing a boatload of fools who are angry, but too stupid to know quite why. This explains their endless rhetoric about the evils of the federal government, and their simultaneous desire to keep their Social Security and Medicare benies. It also explains their unmatched idiocy in serving as tools for their own destruction. If they succeed, they fail. If they get their champions elected, they lose their government-provided goodies. Brilliant.
America's elite are already fantastically rich, yet are absolutely hell-bent on getting richer, even if that means knocking hundreds of millions of people out of America's middle class and in many cases reducing them to absolute poverty and homelessness.
How do we explain people who would do this? Are they not essentially sociopathic? Are they not made of essentially the same stuff as those who can kill without guilt or remorse? Especially so when you consider that even the greediest among us reach a limit beyond which one cannot effectively even make use of the next dollar and the one beyond that, so that pushing others into poverty is no longer even for purposes of one's own benefit, but instead becomes some kind of sick sport.
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