Obama Was Indecent, Yellen Was Decent: Good Appointment, Joe!


Incoming Treasury Secretary Yellen Is Decent

TARP was Obama’s province, not Yellen. Yellen, Biden’s incoming Treas. Sec, long time economy prof at UC Berkeley, one of my alma mater, is decent. Obama’s policy of saving “banks” was indecent, and propelled inequality to heavens. And Obama still doesn’t get it, he is all proud to have saved the “banks”. Even Reagan & Bush didn’t do what Obama did. THEY nationalized THOUSANDS of banks. Obama nationalized NONE. https://patriceayme.wordpress.com/2009/01/25/tarp-transfer-of-assets-to-rich-people/

GINI measures in one number inequality in a society. Clearly it augmented under Obama, and as a consequence of Obama’s policies. Obama thinks he saved the banks, and talks like it. Actually he saved the rich from their own speculation (rendered possible by Clinton’s destruction of the Banking Act Of 1933. In other words, fake democrats all of them… But Yellen is much more the real thing, a real democrat, at least, when she writes and talks… Whereas Obama, to this day, understands nothing in this subject (and that’s why he kept getting 400K for every single speech he makes to the wealthiest… Good boy Obama…

From my TARP essay, which is nearly 12 years old:

Both US propaganda and way of life were fabricated by the plutocracy to serve itself better.  Those, and various plutocratic plots, need to be dismantled, starting with TARP, which is therein revealed in its full glory as the acronym for “Transferring Assets to Rich People“.

Furtherance of TARP is furtherance of the plutocratic plot that ruined the world, to enrich, and empower the fewOnce the political “leaders” exit power, having used it to serve the wealthiest, they get rewarded accordingly. Now the People have started to rebel by refusing to pay mortgage (which is French for waging one’s life on it, an obviously deplorable concept). Real change can only come through massive nationalization of the financial system, and declaring most of the derivatives’ markets null and void.

***

TRANSFERRING ASSETS TO THE RICH PLOT:

The economic crisis is rolling on, fostered by, and increasing inequality. It was fundamentally caused by the PLUTOCRATIC PHENOMENOM. Just as in the Late Roman empire, the Rich became so powerful, they invented and legislated for themselves ways to increase their wealth faster than the wealth of the nation(s). Not just by tax avoidance schemes [among others, the 15% maximum tax rate money manipulators pay], or exporting jobs overseas, but also by harnessing loans from (ultimately) central banks for speculation (something Clinton’s dismantlement of the Banking Act of 1933 enabled).

Patrice Ayme

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8 Responses to “Obama Was Indecent, Yellen Was Decent: Good Appointment, Joe!”

  1. Paul Handover Says:

    Fingers very tightly crossed. Joe Biden has so much to do although I don’t doubt your analysis that behind the President elect is a group of faceless plutocrats. We just have to wait and see!

    Liked by 1 person

    • SoundEagle 🦅ೋღஜஇ Says:

      Dear Patrice and Paul,

      I agree. Whilst Pluto has been demoted to a dwarf planet, the planet of America has already ascended to plutocracy. Social and economic polarizations can further exacerbate the issues of wealth, and such polarizations are increasing for the following reason: The USA is very much plagued in varying degrees by misinformation, disinformation, post-truth politics, demagoguery, plutocracy, oligarchy, ochlocracy, kleptocracy, narcissistic leadership, neoliberalism and globalization.

      The underlying opposition is not so much between the Democrats and the Rupublicans as between the rich plutocrats and the rest of the population. The Democrats need to (re)form their party to unite the 90% of the people living at an entrenched economic and political disadvantage in order to deal with the Plutocrats. In any case, it is going to be a very tall order for Biden to turn things around. It would have been much easier if some Republican senators had been far more honest and incorruptible, for they have been very greedy, uninspired, cowardly and lack criminal, moral and political accountabilities. It is all quite a big mess in danger of getting bigger still. Even a global pandemic still cannot unite folks in the USA and wake them up. Perhaps it will take an even bigger crisis to do so, such as a series of climate change disasters.

      I have been featuring an exemplar of a politician, statesman and chancellor so upright and unflinching in their integrity and honesty that if any of those senators had even just a fraction of his goodness and decency to perform their duties and to go against the POTUS, the USA would not have sunk to such an intractable, dangerous and protracted quagmire. The upright character of this particular politician, statesman and chancellor has been immortalized in a poem, which is featured and explained in my newest post at https://soundeagle.wordpress.com/2020/11/11/strong-wind-knows-tough-grass/

      This politician, statesman and chancellor had been fired six times and rehired six times, and still he persisted in his upright approach and upstanding ideal. He even surrendered and dedicated his own lands, real estates and military power! If only much more people in the finantial, business and political spheres can learn from the upright character that I feature in my said post. In my own words, this historical figure is the personification of enduring loyalty, integrity, bravery and forthrightness achieved with benevolence and righteousness, but without favouritism and transgression. He was certainly not afraid of being fired half a dozen times.

      Liked by 1 person

      • Patrice Ayme Says:

        Thanks for this very nice comment SoundEagle… I agree with you that the opposition is between population represented by populares, as Romans had it… And the plutocrats (“optimates”). It is therefore amusing that, as billionaire Trump departs, billionaire Kerry accedes, sort of, to the White House… I went to your site as a result (I was shamefully ignorant of it)… China has enormously to teach the West… Because it was so similar, yet fully independent of the West…

        I made the argument that the rise of Republican Rome and Qin happened in part for a similar reason, namely them putting the law first…

        Liked by 1 person

        • SoundEagle 🦅ೋღஜஇ Says:

          Dear Patrice,

          I am delighted to read your comment here. I would really appreciate it if you could kindly give me some feedback on the contents of my said post by submitting a comment at the comment section of my said post, as I value your opinion.

          Thank you in anticipation. I shall then give you a formal reply at the comment section as soon as I can.

          Like

          • Patrice Ayme Says:

            Indeed, dear SoundEagle… Tough grass and winds have long been my friends…But where I am it’s 4 am, and I am going to sleep a bit… All the more as I am going to do a snow run later in the mountains, and tough ice is even a tougher teacher than tough grass, and also a wind is blowing putting the whole scheme into question… But I launched other people into taking partly part in it, dropping me somewhere, so no backing off…

            Liked by 1 person

          • SoundEagle 🦅ೋღஜஇ Says:

            Dear Patrice,

            Thank you for your feedback. Given that your previous comment pertains to my said post, I would really appreciate it if you could kindly submit your excellent comment to the comment section in my said post at https://soundeagle.wordpress.com/2020/11/11/strong-wind-knows-tough-grass/

            You can simply copy and paste your comment and perhaps add more if you have something extra to say. Thank you in anticipation. I shall then endeavour to reply to you with a bespoke comment there.

            Like

    • Gmax Says:

      Patriceverything says Joe will try to redeem himself from his Iraq crime. Let’s keep fingers crossed indeed.

      Liked by 1 person

    • Patrice Ayme Says:

      Yes, absolutely. But the Yellen selection is another very good sign… I am happily surprised…. So far Biden has kept the worst devils from Clinton/Obama away

      Like

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