Posts Tagged ‘Goldman Sachs’

Goldman Sachs’ European Union

July 9, 2016

Goldman Sachs, one of the generous employers of the wealthy Hillary Clinton, has recruited José Manuel Barroso, the former president of the European Commission, as the chairman of its international operations, “a non-exec, advisory role”…. To handle “Brexit” Goldman-Sachs said. (An interesting case of self-dealing: Who was one of the main forces behind “Brexit”? Goldman Sachs, as it cheated on the accounting of Greece, thus enabling Greece to enter the Eurozone, when it should not have, leading to the “Grexit” crisis, which ruined further the reputation of the EU, thus enabling Europhobes to howl their xenophobia even louder, etc.…).

Goldman knows how to employ international bureaucrats and politicians: the previous holder was Peter Sutherland, a former European Commissioner and ex-boss of the World Trade Organisation (WTO). Goldman Sachs has plenty of money, because the tax structure of the US makes it so, while, if a young Afro-American wants to make it, he can always enroll to be train as a killer for the establishment… This is not just conspiracy and corruption on a local or national scale, this is corruption on a global scale.

Barroso was the 115th Prime Minister of Portugal for three years, then head of the European Commission (EC) for ten years. The EC is the executive administration of the European Union (EU). It employs 33,000 workers in charge mostly of regulating the regulations embodying European Laws (passed by the European Parliament), to rule the single market of more than 500 million people (that makes it much more efficient than the British government employing 4.5 million people). 

Meanwhile California papers announced proudly that California had the sixth economy in the world in terms of nominal GDP, having jumped ahead of France and Brazil, Italy, India… This reflects in part a surge in the dollar and the pound (which has gone down 15% since the “Brexit” vote). It also reflects the mercantilist strategy of the USA, conducted with brio under Obama.

Let's Plot All Together Now! Obama, Elon Musk, and the Military: Laughing All The Way To The Bank!

Let’s Plot All Together Now! Obama, Elon Musk, and the Military: Laughing All The Way To The Bank!

Take for example Tesla, the poster concept of present-day American mercantilism. It is flooding the world with luxury electric car of dubious ecological merit. All the way to Norway, huge government subsidies are piled up on it (and I would be very interested to know the details on the mortgages and conferences various officials involve take) . Thanks to well-organized propaganda and financing by the US government. In truth, Tesla and the other companies of Elon Musk (Solar City, Space X) are companies massively financed by the US governments (yes, the government of the US and the governments of other states, such as New York, Nevada, to California). Those subsidies on just Solar City and Tesla amounted to 5 billion dollars by 2014. Mr. Musk himself made, personally, 12 billion dollars under the Obama administration: the beauty of the (pseudo) free market.

Why? The South African born Musk, tall and lean, looks good next to Obama, tall and lean. Not that Obama knew what was going on: Chu, the Nobel Prize winning Secretary of Energy of Obama, yanked American Federal Government support for further research in fuel-cell electrics (a US technology, which served us the Moon on a plate). Now Chu is very close to those who invested in battery electrics (fuel-cells are vastly superior to battery electrics in the present state of technology)

The case of Mr. Musk is highly visible, but just the tip of the iceberg (a tip which loves to live dangerously).

Many American corporations have moved their headquarters to tax havens, thus escaping the 33% US tax, something Obama had to loudly deplore, and did loudly deplore. Meanwhile, the full might of the US government is still helping these corporations (diplomatically, through traded delegations, etc.).

Pure mercantilism. The fostering of American business is used to enrich the US by weakening the rest of the world. Just like fostering London as Europe’s financial center brought a weakening of continental Europe (most of the Euro money-changing happening in London rather than in the Eurozone). The USA uses its political and propaganda heft to get its way in business.

For example, Tesla was authorized to let drivers use its “Autopilot” function, while it would be non-imaginable to enable a non-American car maker to do the same. (A Tesla in Autopilot did not detect a tractor-trailer and went below it at full speed, killing the driver.)  

The war of the US mercantilist empire against the barely conscious European sheep is all azimuths. For example, after decades of anti-French propaganda using most American comics, it is very difficult to sell anything in the USA coming from France. Even French cheese is considered to be dangerous biological warfare. One can be arrested for sneaking a French cheese inside one’s luggage: special dogs are out there to get the French contrebandiers, and their hidden Roquefort.

All is fair in love and war? Not really. Especially when one does not know that one is at war. The Europeans love their i-phones, but they should ponder more where they come from, and how.

The USA is behaving, right now, like a traditional European power, at the time when the European powers were jostling for world control. Whereas the Europeans have opted for behaving like traditional European sheep. But even their cheese does not make it in. So what are the European sheep going to do? Die off through low birth rate, and a civil war with Muslim migrants?

The American government has a law forbidding government to buy non-American products, except if nothing else available; the EU does not have an equivalent, symmetric law, thanks to the fact European politicians know that, if they behave well during their European political “duty”, namely if they favor US interests, US oligopolies and financial conspiracies will employ them, afterwards. And “compensate” them very well.

The US behaves like a traditional, aggressive and imperialist European power, but for three caveats. First, the US is a superpower, “the one and only superpower, probably”as a chastened Russian president Vladimir Putin put it recently. That feeling of superiority brings a supplement of hubris. And hubris does not replace soul, as the Ancient Greeks knew, all too well.

The other caveat is that the US, and its institutions, arose in great part from the “West Country Men” mentality, of greed foremost. Four centuries of English North American history have shown that, the more greed, the better, overall, for the empire. What could go wrong? No appetite is large enough, if it can eat entire mountains.

The final caveat is that US mentality did not arise from thousands of years growing among, and learning to live with, disagreeable, incomprehensible, insufferable neighbors. The US is a new country which experiences  itself as a new civilization, on an island-continent.

The “Brexit vote” at first sight, weakens Europe further. The US had fostered, before it attacked, and after it attacked the Prussian Kaiser’s fascist imperial design to take over Europe in an alliance with the US. Later, as early as 1921, American plutocrats led by the maverick racist Henry Ford, and, soon enough, Wall Street’s entire might, American leaders fostered Nazism. And Stalinism too. The result was the world as we know it.

Esteemed commenter Gloucon on this site just suggested that everything American has to be expunged from the US mentality.  He called that Amexit from itself, “exorcism”. It may well be true. However, the policies of various European powers right now enfeeble Europe ever more. In what was a minor crisis (the 2008 greed crisis), the US did not hesitate to run astounding record deficits for years, up to nearly 15% of GDP, well above 10% of GDP for more than four years running. Meanwhile the servants of Goldman Sachs at the European Commission, and in various other European governments insisted, and keep on insisting on the 3% deficit limit. The french commissioner of finance is very strict on this: France has to lower its deficit to 3%. Well, I don’t know if that’s Marine le Pen’s plan, but, considering the sorry state of France, the french deficit should be brought up to 20% (investors would probably pay France for that: the French ten-year bond is basically at zero percent…)

European countries, thanks to European laws, kept their deficits extravagantly low, while their economies sunk. Except for… Britain, which ran much higher deficits that then rest of Europe (the Eurozone). Hence the surge of the British Pound, because, paradoxically, the ability, or, more exactly, effrontery of running high deficit is viewed by money manipulators, as a sign of strength (that’s in contradiction with classics economics of the obsequious type). And this is correct: it’s the friendliness to plutocracy, and the ability to enforce that, which have contributed to the clout of the US and the UK.   

Deficits Don't Count, If You Have The World's Biggest Army: Obama Is A Strategic Genius, Whereas European Leaders Are Mentally Retarded Traitors Of The Vicious Type

Deficits Don’t Count, If You Have The World’s Biggest Army: Obama Is A Strategic Genius, Whereas European Leaders Are Mentally Retarded Traitors Of The Vicious Type

But let’s contemplate the very high deficits of Obama’s first six years. Is not the only excuse for very high deficit, war? Was there a war the US was engaged in. I mean a big war, not this little weapon testing in the Middle East. Of course there is. And the enemy is doing poorly, melting like Camembert. The European Union, ladies and gentlemen, and its increasingly tiny and irrelevant corporations… is not on the winning side. And how could it be?

In 1940, the Duke of Windsor, inspector general of the British armed forces and ex-king, wrote to his friend Adolf Hitler that the weak point of the French defenses was at Sedan (where, coincidentally, the Second British armored division was assigned, but never arrived, conveniently enough, leaving just one French infantry reserve division to block the bulk of the Nazi army). That was high treason. And it served, ultimately, the “American Century”: France and Britain won, but much diminished.

All the high officials of Europe working for conspiratorial plutocratic money manipulators are also traitors, and they serve the same master. Why can’t laws be passed, outlawing such practices before (PM Mario Monti, ECB’s Draghi), or after (Barroso)? Over a lifetime? Or over entire families and acquaintances (immediately after Ted Cruz was elected Senator, Goldman Sachs, which had secretly financed his campaign, made Cruz’s souse into a Goldman Sachs director…).

This is not just an American problem. After all the Russians hired ex-Chancellor Schroeder of Germany to head, nominally, a giant gas pipe line, in an affectionate mark of appreciation to be meditated upon by present and future “leaders”. The bottom line, on this planet, is that too much power is put into too few hands. This is how World War One was launched: five persons, conspiring together, four generals and the grandson of Queen Victoria, decided to launch a world war, within 18 months. (They overruled the two aghast admirals, including Admiral Tirpitz, who knew the Kriegsmarine could not win over the Royal Navy, and thus were against war; the other admiral wrote the secret report, found, more than half a century later, hidden in an attic.)

Some people want to stop hurting animals. Nice. A new ethics is necessary for doing so. More urgently, a new ethics is needed in politics: the simple moral fact that too much power in too few hands is as immoral as it gets. After all, too much power in too few hands was the principal idea of Nazism (the “Fuerer Prinzip“).  And it is also the principal idea of… Islam (which Hitler copied to the point of parody).

A planet whose leaders are the puppets of tyrannical greedsters cannot end well. Greed, cupidity, avarice, the will to dominate others, do not correspond to mental modes of operations, and their attending neurohormones, that we can afford, when the entire biosphere is tottering on the verge of the most massive extinction. Ever.

Why? Because such neurohormonal regimes amplifying the basest instincts, do not correspond to the highest possible states of intelligence. Politicians and financiers, are, fundamentally, of the lower sort (as Jesus and Muhammad themselves convened!)

Patrice Ayme’

Go Ogle You

December 8, 2013

Mandela claimed he was mean and tough, and no saint. That self knowledge was put to excellent use in a spotless, civilization improving career.

Hitler used to say he was a man of peace, a rescuer of minorities. As we all know, he was the exact opposite. Gandhi presented himself as a saint, an Hindu saint, hater of the British to the point he presented himself as Hitler’s friend. Gandhi’s erroneous trains of moods and thoughts wrecked the Indian Raj, cutting it in two, and this started precisely because of Hitler (Indian Muslims were keen to make war to Hitler)… and now we are waiting for the other, nuclear, shoe to drop on the Indian subcontinent.

Generally, the more people speak one way, the more it is to hide the fact they act the opposite.

Don't Be Evil, I Want To Eat You

Don’t Be Evil, Keep Still, I Want To Eat You

That’s why, when Google chose as motto, “DON’T BE EVIL“, it was clear it practiced the exact opposite.

The tech giant has been long walloped in hypocrisy: his founders would make a loud show of driving hybrid cars, to save the planet, while discreetly ordering, not just normal corporate jets, but outright private jumbo jets, to travel in great CO2 style.

So how come two young guys have suddenly dozens of billions of dollars at their command? Just by practicing “don’t be evil“? Christ would have told us the opposite was most likely (remember Christ said a camel was more likely to go through the eye of a needle, than the rich to heavens).

So it’s no surprise that Google is funding groups advancing the agenda of the Koch brothers. Only the naive ought to be surprised.

How could it be otherwise?

Who founded Google and launched it big? The usual suspects. Sequoia capital, Morgan-Stanley, Goldman Sachs, and the usual operators of the Dark Plutocracy  (Summers, Clinton administration, his pet Sheryl Sandberg, etc.). The algorithm was invented by Stanford University (from which it is still leased for around 100 million dollars  a year).

Two Stanford students activated the algorithm, and became “Google founders“. There had been other search engines before, and since.

Nothing special about Google, except who was behind it. As we know now, and I long suspected, and wrote about, the USA’s plutocracy’ intelligence organizations, sucking on the juiciest parts of the world, were a big part of it.

So here you have two young nobodies, one from Russia, and they are given riches beyond comprehension. Why? Just to show Russians that, when you obey the USA, and conform, you will own the world?

No, not just that. But also because absolute money, so absolute power, corrupts absolutely.

The plutocracy that heads the USA needed a tech giant led by the absolutely corrupt. That’s why colossal amounts of money are directed at the gullible with vicious morals.

Vicious morals? We now know that Google acts viciously (it cooperates with the Chinese dictatorship’s censorship, not just the NSA). But the stealthy will-to-viciousness should have been obvious, from the motto alone.

I have been involved in more than one start-up in Silicon Valley, and i have met with several venture capitalists. I can imagine the scene from her: Of, do those two algorithm guys look hungry enough? Could they do whatever, so they can own the big private jet?

On the founders of Google: check for all this. So we fund, and organize that for profit intelligence organization, complete with “backdoors“. Go-ogle.

Organizations that received “substantial” funding from Google for the first time over the past year include Grover Norquist’s Americans for Tax Reform, the Federalist Society, the American Conservative Union (best known for its CPAC conference) and the political arm of the Heritage Foundation that led the charge to shut down the government over the Affordable Care Act: Heritage Action.

In 2013, Google also funded the corporate lobby group, the American Legislative Exchange Council, although that group is not listed as receiving “substantial” funding in the list published by Google.

Google is preparing for what it is helping to bring, a Tea Party controlled USA (Obamacare was part of the plan). So it’s bringing in Republican coordinators. “A brassy, well-connected New York Republican who served seven years in the House, Ms. Susan Molinari is paid handsomely” as Google’s chief Washington lobbyist, said the New York Times. She should be: she was used as cute blonde bimbo talking head by CBS, before.

Says the New York Times: “based on comparisons with trade group lobbyists, Ms. Molinari is probably paid into seven figures in salary and stock. Representatives of the pharmaceutical and cable industries, for example, which each spent close to Google’s $18 million in lobbying in 2012, earned salaries of $2 million to $3 million…Her father is Guy Molinari, the former Staten Island borough president and a former five-term member of Congress, and her husband is Bill Paxon, also a former member of Congress and now a lobbyist.”

Such is the plutocratic web in the USA: thoroughly corrupt politicians enabling the powers that be. Just in the last year, Google funded for the first time ten right wing fanatical groups. Google spent a record $18.2 million on lobbying in 2012 in Washington alone.

As usual with the plutocratic organizations and celebrities who lead the USA, Google has a distinctively progressive image.

Propaganda works.

To Be Evil, first claim you are not. “Don’t Be evil”. Then persuade your prey it ought not to be evil, either, making it unable to even suspect it has to defend itself. Then Go Ogle everybody.

***

Patrice Ayme

Wealth Care’s Endless Summers

July 31, 2013

Abstract: Starting with Nixon, the Kennedy-Johnson welfare state became the wealthcare state. The rise of systematic failures such as Lawrence Summers, was instrumental that way.

***

Democrats point at Republicans all the time. In truth, they set-up the Wealth Care State just as enthusiastically. Ever since Nixon, all outwardly socially motivated programs grew that monstrosity. (With the exception of G.W. Bush’s senior drug program! Yes, W. the torture man!)

Nixon publicly funded the HMOs, to make a Kaiser richer. Now Obama has extended plutocratic care. Ever since Nixon, plutocracy has made failure into rapture. It did not start this way, quite the opposite: engineering made the USA rich and powerful. Most renewable energy is hydraulic. It’s symbolized by this dam:

President Hoover's Dam. Engineering, Not Plutophilia

President Hoover’s Dam. Engineering, Not Plutophilia

President Hoover’s dam is an astoundingly high 222 meters (like a skyscraper). The reservoir holds 35 billion tons of water (yes, 35 cubic kilometers). The Hoover dam was launched by Sec. of Commerce Hoover in 1922, and construction ordered, early, by President Hoover, mid-1931.

Imagine Obama built something that big… Instead Obama’s idea of bigness is big money from the wealthy, food from their big tables, sleep in their big beds.

The latest thrust towards the Wealthcare state is a frenzy to make Larry Summers chief of the Central Bank.  The usual suspects push for it: the Rubin-Goldman Sachs-Citigroup gang.

Larry Summers, plutocrat, plutophile, enabler of deregulation under Reagan,  fought to repeal the last vestiges of Glass-Steagall, which separated traditional banking practices and investment (very risky) banking. Summers  deregulated complex derivatives of the world-gobbling type under Clinton in the late 1990s. Summers, grotesquely sexist to the point of imbecility, hyper connected with the worst, the great whale that swallowed the world economy, and regurgitated the neoplutocratic order.

Under Obama, Summers was made chief economic adviser, and gave the worst advice imaginable. Irreplaceable. He is now inciting Obama to see ghosts. Says the President (July 2013):

“let’s make sure that we’re growing the economy, but let’s also keep an eye on inflation, and if it starts heating up, if the markets start frothing up, let’s make sure that we’re not creating new bubbles.

Obama is worrying about inflation?  What else? Little green men? Inflation? Which inflation? Obama is keeping an eye on non-existent inflation? What for? No new bubbles? Really? Is not that rich, Mr. President, after your administration gave about 8 trillion, half of GDP, to the biggest, nastiest banks that ever existed? And all this so those nastiest banks and their bankers could pay the immensely greedy Lawrence Summers, Robert Rubin and their ilk? And fit the vision of the world they have, where financiers know best about everything? 8 trillion dollars to replenish criminals, that’s not a bubble?

After the tragedy of the 1930s, we are now enjoying a farce (before it turns again to tragedy!)

Hoover, an engineer from Stanford U., was no idiot, far from it; and he was experienced: the Hoover dam was his baby. But as President he became an idiot by not understanding the extent of the crisis, and providing an insufficient stimulus program, while allowing banks to de-fund the economy.  Not that Hoover did nothing: look at his colossal dam above. He just did not do enough.

Now here is Obama: one would expect that he heard of Hoover’s meekness. But all he knows is basket ball, not engineering. Obama does not have a Hoover dam to point at: Obama’s stimulus was mostly a fake. He kept his eye on the ball, indeed, from basket to golf.

Obama could have done something to mark the future, as Hoover did, with the Hoover dam. To this day, most of “renewable” energy is symbolized by the Hoover dam (hydro, worldwide, is on its way to pass gas in electricity generation).

What could have Obama done to mark the future with more than basket or golf balls? Get himself genuinely brainy advisers, not just greedy chickens, pecking away (Summers style). An obvious little project would have been Very High Speed trains, where they nearly exist, along the North East corridor or where they are guaranteed to be profitable, as in California.

Much more pharaonic and futuristic would have been for Obama to preside over a massive solar project in the South West USA.

The South West USA is the world’s best place for solar energy (due to solar energy guaranteed & proximity of enormous California, and its two giant metropolises, plus great safety). But Obama did not notice: all he has, is his “eyes on the ball”. The basket ball, historically, and now the golf ball. That’s the balls he knows. Not ball-bearings, not an engineer, just a player.

Yes, Obama gave a bit of money here and there (Mostly to Elon Musk, because he is a tall, good-looking rich South African). Stimulus-wise, Obama is a dwarf Hoover that built dams never higher than a few meters high.

Some will scoff I am unfair to Obama. But I have been too generous: Obama is Hoover in full reverse. Hoover used the power of the government to build a giant dam (so did FDR, only more so). Instead Obama used the power of the government to give money to plutocrats.

A non banking example? Elon Musk and space X, and the like: NASA money has been detoured to give to that clique, to the point NASA does not have enough money to develop the successor of Saturn V… (Finally decided 40 years after Nixon buried it!… except Musk stole the money…)

We have a Great Depression, but Obama has not noticed, because he only listens to Goldman Sachs (historically his greatest source of funds to get elected)! Indeed, Goldman Sachs’s owners are doing great. Obama breathes Goldman Sachs and its ilk. Such as Citigroup.

Goldman Sachs, Citigroup, etc. were all broke. What did Obama-Summers do? Each of the broken banks got about 60 billion from taxpayers, but Obama failed to acquire those properties taxpayers had paid for. So the plutocrats that controlled those institutions still do, and that’s why Rubin’s Citigroup and its immensely paid creatures (such as Lawrence Summers) are resurfacing from the abyss, stronger than ever. Well fed by clueless, pathetic taxpayers.

Why do we have a great Depression? Because presidents of USA such as Nixon, Ford, Reagan, Bush, Clinton, Bush, Obama thought small, supposing they thought at all. Nixon ordered the stupid Space Shuttle instead of improving enormously the fantastic Saturn V (as it was easy to do, and Von Braun wanted), and Nixon conceived the stupid HMOs crony capitalism (= plutocracy).

The corrupt (What else?) Summers is paid by Citigroup (founded by Goldman’s Robert Rubin, B. Clinton’s main minder.) According to the Wall Street Journal, Saturday July 27, 2013:  “Mr. Summers is getting millions from a number of other financial firms.

These include stock-exchange operator Nasdaq OMX Group Inc., hedge fund D.E. Shaw, venture-capital firm Andreessen Horowitz and asset-management and advisory firm Alliance Partners”

Making Summers central bank chief, reminds me irresistibly of the nomination of H. Schacht at the head of the German central Bank.

Schacht, a pawn of the American plutocrat JP Morgan, enabled Hitler. Was it under orders? Schacht was tried at Nuremberg, and rebounded nicely as a master world plutocrat afterwards (he was obviously protected; he was best silent, as he knew all about Hitler’s mighty financiers).

Quantitative Easing (QE) enthusiasts advocate the idiotic, but highly profitable to them, notion that the economy is all about money: just send enough money to the financiers, and they will make the world right for you (such is the main idea of QE).

Many “democratic” economists have advocated QE: send trillions to buy off the (unprosecuted) banking criminals. And thus most of what Obama did was to implement the notion of sending, according to the esteemed economist and lawyer William Black, and also according to the inspector of TARP, and evidence, trillions to the very banks that created the 2008 disaster. (This is not just my opinion anymore: even the Wall Street Journal agrees now, see below!)

(The banks used a bit of that money to “reimburse” TARP, enabling big reassuring titles in the Main Stream Propaganda: “Banks/Companies Reimburse Government Loans”).

Perfect for a world where the financiers in power decide who deserve money (namely themselves and their friends: why do you think Obama spent years calling Jamie Dimon, the daemon head of JP Morgan, “my friend”?)

Thus caring about the economy was straight WEALTH CARE: take care of the rich, they will do the rest. Reagan (“Ray Gun”?) got the ball rolling all over industry. Thanks to Goldman Sachs, Rubin, Summers, Clinton (in that order), it was extended to all financiers, drugged out on derivatives, in the 1990s.

Bush succeeded to out-Clinton by extending wealth care massively to defense contractors by engaging in carefully unwinnable wars: Iraq, Afghanistan, Pakistan, Yemen, all over.

Nixon has started HMOs by giving billions to private companies for Health Maintenance Organizing (HMO). The idea had been suggested to him in the Oval Office by the head of Kaiser Permanente, the industrialist Henry J. Kaiser. (Recent profits of Kaiser are of the order of 2 billions, and its revenue 50 billion; it’s the largest HMO in the USA).

Just as Obamacare flaunts the notion that stock exchanges and turning patients into shoppers will be the royal road to health care. Just send enough money to private insurance companies and health care plutocrats, such as Warren Buffet, Obama’s self interested adviser, and, little people, they will take care of you, thanks to the benevolent (and ‘invisible’!)hand of the market.

QE enthusiasts are propagandists for plutocracy. Just like many of the health care advocates are just poorly disguised wealth care fanatics who see more government subsidies coming their way.

Fine. This is what a plutocracy (aka “crony capitalism”) is all about. What’s not fine is when conscientious liberals fall for these schemes and howl in their favor for years. If one wants a society that cares, one builds a society that cares, and one does not simply throw money at the problem. That latter scheme is not new: Roman emperors practiced it for centuries, until the flood of money had corrupted the entire civilization.

Money even corrupted the most basic intelligence of the elite. When society is exclusively organized by money, there is no room for true intelligence. Even the Wall Street Journal, July 27, 2013, is finally understanding (five years after I got alarmed by Obama’s seduction by Summers!):

Mr. Summers is a master at “failing up.” Screw up at one job, get a better one. He’s now considered a front-runner to replace Federal Reserve Chairman Ben Bernanke in January.

Mr. Bernanke’s response to the financial crisis has been to digitally print trillions of dollars and give most of it to the biggest banks that caused the crisis. This seems to have averted another Great Depression, but at what cost? Eventually, the Fed must ease this money out of the system…

Meantime, President Obama launched yet another campaign to help the middle class. “With this endless parade of distractions and political posturing and phony scandals, Washington’s taken its eye off the ball,” he complained last week in Galesburg, Ill.

He blames Washington, even as he leads Washington. One reason why the middle class is still suffering is because Mr. Obama has a knack for putting the same people who ruined the economy in charge of fixing the economy.

Well, it’s not a knack, it’s a system. There is constant commuting between the Obama administration and the institutions that got the most money from said administration. The woman who wrote so called Obamacare, a high level (VP) health care insurance executive, went back where she came from, after she was done. Single payer, American style: one woman, singularly paid.

But let’s look at the bright side. The Wall Street Journal’s broadsides against Summers are hilarious, and gratifying; the critiques above I put in bold letters I advocated for 4 years at least. At the time, most would have described my ideas as rabid, irrational leftism. In truth, it was only the truth.

The traditional method to deal with bank-ruptcy of banks is to nationalize them: stakeholders get wiped out, management thrown out, the state brings in what’s needed to keep the bank going, and then sells it back to the private sector. This is fair: banks have a monopoly on money creation, granted by the state. Although privately managed, they are still agents of the state. This is efficient: it punishes malfeasance. And it costs taxpayers, thus, We The People, nothing: all the money is brought by the wealthy, twice.

Faced with the bankruptcy of thousands of a type of banks, the S&Ls, Reagan and Bush Senior followed scrupulously the nationalization method.

Yet the American subprime/European malinvestment crisis of 2008 was dealt in the opposite way: money was just grabbed from taxpayers, and given to the criminals, the banksters. Why? So they could do it again? Bush, Paulson a steroid laden football player who was made president of Goldman Sachs, before becoming Treasury Sec., Nancy Pelosi, a plutocrat daughter of somebody, head of Congress democrats, Obama, the basket ball man, and Lawrence Summers took all the decisions, and gave no explanation, except that they saved the world!

Verily, they saved nothing, except an established order that had blossomed in an orgasm of over-exploitation. What they did, was to Transfer Assets to Rich People (TARP), and impoverish everybody else.

So why Reagan and Bush Senior behave fairly, and the politicians of 2008 so dishonestly? Because the world political class of 2008 was much more corrupt than that of 1998.

How did it get there? Under Clinton, that is the reign of Goldman Sachs-Rubin-Summers, corruption got away from any critical examination. That allowed it to reach a crtitical mass. Summers had a screaming fit against the lady heading the Futures’ Commission, insisting, as he did, that financial derivatives ought not to be regulated (under Harvard president Summers’ supervision, that University lost a billion dollars in derivatives trades, meaning students’ money was transferred to plutocrats).

The same lady, Sheila Bair, was unpopular in the Obama administration, just as the highly qualified Fed Vice President, Janet Yellen.

What’s the problem with those women? They are more careful that the men, being more emphatic. Somebody such as Summers believe that greed is the noblest engine of humanity, and government should serve greed. The welfare state is their enemy, the wealth care state, their solution. They have understood nothing to humanity. And even less to how Earth works.

Lawrence Summers helped ruin Russia (by giving Yeltsin terrible advice) and turned it away from democracy, and back to the KGB. Lawrence Summers made the economy of the West “derivative”. Worse than him, there is not. Thus, Summers is intensely attractive to those whose wealth depends upon ruining the rest of mankind.

Summers? Irresistible to the Obama administrators: that’s where the money is. Citigroup will reward them. Amen.

***

Patrice Ayme