playing chicken…..

by problembear

while it is pretty obvious that president obama loves america so much he is willing to grovel for any kind of deal he can get to save this country from the crushing debacle of bankruptcy……….(note to self:  invite the president to my next garage sale-what a pigeon!)…….. , it is equally obvious the teaparty does not love america. but what do you expect from a multinational corporation financed astroturf creation which attracts those who adore the flag of the confederacy.

the question is……… does the republican party really love america enough to man up and help us save her? 

and if this game of chicken between two dysfunctional parties does end in a huge wreck which ruins the full faith and credit of america, i have a sneaking suspicion that historians in the future will mark this as the beginning of the rise of an independent party that recruits the majority of americans who are running out of patience with both parties. enough is enough.

it is time that the politicians in washington quit playing chicken with the american people.

  1. Dem Antidote

    You’re close to having an actual insight. Keep at it. (Hint: The debt ceiling will be raised. That is not in question.)

  2. A must read (lengthy but worth it) by the great economic analyst and historian Prof Michael Hudson called “The Euthanasia of Industry”. He’s not a neo-liberal free marketer so he actually has history and science to back up his thoughts.

    “So Obama believes that reducing the purchasing power of American labor in terms of foreign exchange will make the economy more competitive. He also believes it will help deflate the economy to reduce the budget deficit. The economy needs government spending to revive employment and markets, but he’s acting like President Coolidge in the Depression. Republican Treasury Secretary Andrew Mellon said that the solution had to be to liquidate labor, liquidate housing and liquidate the economy. That tunnel vision is being fed to Mr. Obama’s by his Clinton- and Bush-era advisors, from Larry Summers to Tim Geithner. He is doing what nobody really imagined the kind of change that was possible when he was elected. He has let Michelle Bachman and the Republican Tea Party tax cutters move to the left of his position.

    Rep. Bachman recently pointed out that she voted against TARP from the beginning, as did other Republicans opposing the giveaway to the Wall Street interests. The Republicans also haven’t called to cut back Social Security to pay Wall Street. That’s the Obama-Geithner position. It’s put Democratic Congressional leadership in a bind, because they have difficulty opposing a president even though he’s moved to the right of the Republican Party. ”

    I consider myself “on the left” (defined as being for economic justice ) but increasingly hear misinformation on both sides from corporate owned media including NPR. So there is crap coming out of right and left wing mouths. Yes, George Bush added to the deficit with 2 wars, unpaid for Medicare Advantage drug bill, and income tax cuts and dividend tax cuts. But what about the bailout of the banks beyond TARP?

    “The Obama administration raised the financial sector’s bailout to $13 trillion. This has vastly increased the government debt. And now, Mr. Obama wants to bring it back down by cutting back Social Security, Medicare, Medicaid and other social spending – to transfer wealth and income to the top of the economic pyramid. At the start of his administration he appointed a Deficit Reduction Commission led by advocates of cutting back Social Security and Medicare: Republican Senator Alan Simpson (McCain’s economic advisor!) and Clinton chief of staff Erskine Bowles, representing the right-wing Democratic Leadership Committee cite above. The aim of this commission was to give Mr. Obama an “experts’ report” supporting the diametric opposite of the liberal constituency that voted for him.”

    “This is how he is doing what politicians are supposed to do: delivering his constituency (liberals, racial minorities, urban dwellers and the poor – in fact, the American mainstream) to his campaign contributors. In that respect Mr. Obama is America’s version of Tony Blair, or Greek Prime Minister Papandreou, nominal head of the Socialist International – taking a position way to the right of Greece’s Conservative party when it comes to imposing austerity and privatization sell-offs to bail out bankers to save them from taking a loss. And Sec. Geithner has been pushing Europeans to take a hard line to make sure that bondholders do not take a loss on their bad investments. He is insisting that Europe impose depression conditions as bad as those in the United States. With full support from Mr. Obama!”

    Read the whole thing in an easy to understand analysis of what is going on here and in Europe.

  3. ladybug

    More disaster capitalism. Wall Street banks are on the prowl again. This has been going on since the 70’s. Now it’s our turn. Will Big Pharma have enough pills to quell the working-class blowback?

  4. Dem Antidote

    This comment was removed by problembear

    • Turner

      How do you know this?

    • I’m the one that banned you. I’ve told you this and said this repeatedly. I’ve said it in reply to you. You know this. Quit speaking lies.

      You can blame problembear and he will not say anything out of probably protecting me, but it is I, jhwygirl, who has banned you Mark Tokarski.

    • Dem Antidote

      a citation of Paul Craig Roberts as follows, totally germane to this post:

      Recently, the bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress did not reach a deficit reduction deal and debt ceiling increase. The downgrade threat is not credible, and neither is the default threat. Both are make-believe crises that are being hyped in order to force cutbacks in Medicare, Medicaid, and Social Security.

      If the rating agencies downgraded Treasuries, the company executives would be arrested for the fraudulent ratings that they gave to the junk that Wall Street peddled to the rest of the world. The companies would be destroyed and their ratings discredited. The US government will never default on its bonds, because the bonds, unlike those of Greece, Spain, and Ireland, are payable in its own currency. Regardless of whether the debt ceiling is raised, the Federal Reserve will continue to purchase the Treasury’s debt. If Goldman Sachs is too big to fail, then so is the US government.

      There is no budget focus on the illegal wars and military occupations that the US government has underway in at least six countries or the 66-year old US occupations of Japan and Germany and the ring of military bases being constructed around Russia.

      The total military/security budget is in the vicinity of $1.1-$1.2trillion, or 70 per cent -75 per cent of the federal budget deficit.

  5. Turner

    I didn’t catch the meaning of the the thought experiment. You’re right to admit we know nothing.

    Here’s what I Hope happens: (1) Obama and the other apparent negotiators don’t end up with anything, (2) the deadline passes and a meltdown is about to occur, (3) Obama invokes the Constitutional Option and saves the nation. Republicans go berserk.

    • I like your plan mr turner. Makes the tea party look foolish, callous and ineffectual. Exactly what they deserve.

      but I don’t see much of the riverboat gambler in this administration.

      Hope you are right. it would destroy the republican party if obama has the nerve.

  6. Steve W

    I’m betting on your prediction, Turner.

    Either that or the Repos flinch and pass a clean one sentence raise of the debt limit.

  7. Steve W

    I’m betting on your prediction, Turner.

    Either that or the Repos flinch and pass a clean one sentence raise of the debt limit and thus deny Obama the chance to ‘save the country.’

    Tokarski I believe is correct in his assumption that the US won’t default on it’s debts.

    • Dem Antidote

      The very concept of the US defaulting on its debt is so absurd that the financial world does not take it seriously. The stock market is soaring, new money continues to roll into the treasury. The politicians, most of whom re savvy, know this too. But they cannot not play along, as it would be political suicide. The only one who can speak freely, Bernie Sanders, is immune, as he is too popular in his home state to unseat.

      If the idea that this is all a stage play is unfathomable to you, think of it this way: They do this sort of thing twice before breakfast. Virtually everything that comes out of Washington for your consumption is stage play.

  8. ladybug

    Feralcatoffreedom nails it. Both parties support the policy, which is neoliberal. The politics is a hopless, feel-good distraction for the few left who care. My prediction: A new, much needed policy will not come from party Democrats or party Republicans.

  9. looks like the republicans will hang together. boehner walks away from talks. so be it.

    this is dereliction of duty on the part of house republicans. they are all sworn to uphold the constitution…….

    arrest them all until they honor their oath.

    • Steve W

      i would imagine our Pres would just order our Treasury to borrow what it needs to pay our bills.

      If he wouldn’t go after bush for lying us into penury (aka war) and he won’t go after the wall street sharks for stealing us blind, then I doubt he would arrest congress for breaking the constitution.

  10. nobody cares what you respect mark. goodbye

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