For eight years, I have been writing that it was Obama’s fault. I had seen Obama go “work” at a “Hedge Fund”, on November 5, 2008 (Did Obama EVER work, let alone think?) You may be elected to be a Saint to fight evil, and, next day, go work for Satan, for all to see.
I have been writing about this for eight lonely years, but now, finally, the Main Stream Thinking is catching up:
[Obama had also control of the Congress. Or, more exactly, the Democratic Party, truly the Demoncratic Party, had control of Congress. Congress was headed by Nancy Pelosi, a woman who made a colossal fortune from politics, and was head of Congress since 2006. Congress is truly the National Assembly, and passes laws. So Obama and his Demoncrats controlled all, so what did the do? They did what Demons do: they lied. Donald Trump is already demonstrating that a US president with a simple majority can govern (or, at least, govern the EU). Obama had a supermajority.]
Yannis Varoufakis is a university professor in economics who taught in the UK, Australia (where he became a citizen!), Belgium Sweden, and of course, Greece. By 2004, he started to advise the Greek government on how to get out of the crushing debt engineered by the crafty lying plutocrats (Goldman-Sachs, etc.) When the extreme left took control of the Greek government, Varoufakis became the finance minister of Greece. Varoufakis confronted the European Central Bank, the devilish instrument of the obdurate right-wing Merkel and the crooked semi-fascist French President, Sarkozy. Varoufakis won, and saved Greece, in no small part because he went directly to Greek and European public opinion, and shamed the financial fascists to do the decent thing (besides winning a plebisciste).
However, the resentful plutocrats asked for Varoufakis’ head in exchange for giving the far-left (present) Prime Minister of Greece, Alexis Tsipras, was he needed. There is much more on this, and for the better, now that the Trump Revolution is launched in the USA: suddenly everybody is thinking like Varoufakis. Varoufakis first, then Tsipras, then France running deficits in violation of Brussels’ orders, then the Brexit vote, then Trump. Varoufakis was a hero, because, alone against all, having all to lose, but for the glory of being right, he dared. Compare to Obama’s mental frailty. (To put it politely…)
I have made for years, and most recently in: Obama is a (stealth) regressive, not a progressive, the remark that net investment by governments of the G7 is the lowest in at least 60 years.
I called TARP, Transferring Assets To Rich People. Crooked Hillary and the misinforming Obama administration then pretended that TARP had been fully reimbursed. Maybe it was, but what was reimbursed was reimbursed thanks to Quantitative Easing (where the Federal Reserve bought at inflated prices assets of the richest).
Meanwhile Trump is concentrating on interesting change. No more talk about Mexicans, Wall, even Obamacare… And Trump does not “wish” to “prosecute Hillary” as the Clintons “have suffered a lot already in many ways“… “I want to move forward,” Trump said. “I don’t want to move back. I don’t want to hurt the Clintons, I really don’t.”
Yes, OK, but history is prologue, as the other one said.
Why did I say that Trump presided over Europe already?
The European Commission suddenly wants Eurozone countries to boost spending by 0.5 percent of GDP next year. It’s, at the very least, a belated gesture to counter Trump-style anti-establishment revolts on the continent. Or maybe there is a more sinister explanation: the European leaders in Brussels have suddenly understood that their masters in Washington, the Goldman-Sachs government of Clinton-Obama, have lost (momentary) control. So, suddenly they do what is right.
The European Commission’s wishful proposal is an acknowledgment that Eurozone spending restraints don’t work for the European continent as a whole (the UK engaged in massive deficit spending around 5%, year after year, while doing ultra massive immigration of the order of .5% of the population, year after year; that brought a boom, except for little Englanders, who got even at the voting booths…)
To make a sustainable difference, however, wealthy countries (mostly Germany) would have to help struggling ones.
Rules that require the 18 countries of the Eurozone to limit deficits make overall policy way too tight. The Eurozone’s combined budget deficit should be just 1.6 percent of GDP next year, even though unemployment remains above 10 percent. Lack of transfers exacerbates the divergence between the member states. Countries like Italy, where youth unemployment is nearly 40 percent, are forced to keep skimping on investment… to the point that Italy cannot even have a sustainable economy (crucial repairs are not done, from antique monuments to recently ravaged earthquake zones). Meanwhile wealthy Germany is still bathing in absurd surpluses, which, instead of being directed at helping to make plenty of little Germans, serve in part to shelter migrants (just because Germanydid not join the France, yet, in re-establishing a Republics in Syria and all over Africa…)
Whatever happens next, don’t forget it was all Obama’s fault. Or the fault of those who pulled his strings (and are now scrambling to pull Trump’s!) Next a more interesting subject: can we have, as NASA claims, propulsion without fuel? Classical Physics says that question is insane. But conventional wisdom also says Obama did great, and is a friend of the small fry.
Obama goes around, suggesting he will play a sort of philosophical role after his presidency. Assuredly an ambitious goal for a puppet of financial vultures. Well, real philosophers are introspection experts. Since when do puppets acquire introspection? That, surely, would be new physics.