As the smoke lifts and the detailed-void mantra of "change" becomes clearer, nationalisation, unprecedented runaway spending and the destruction of capitalism appear to be its true meaning.
The raping of capitalism in 2009 has been an easy sale in the siege mentality rich era. Much of the public did as I precisely warned against. It acted fearful in the face of rapidly changing environments, refused to be held accountable for their own actions and instead, pointed a wretched finger towards the mythical ivory tower that in-turn the new administration lovingly directed towards Banking, if not simply Wall Street itself.
The sad undeniable truth is that the world of finance is not "the cause" of the myriad of problems that afflict the nation but deep within the layers, being accountable is. If the administration truly wanted "change" that would allow the capitalistic structure to survive and for the nation to flourish it would have rewarded business incentive and pushed onward. What exists now is not leadership, it is a coddling approach to a frightened public using a tried and true approach; blame business.
However the rest of the world can see through this pale if not horribly dumbed down approach. While sound bites and media coverage within America slowly merges with a 160-character maximum guideline, the world sits and watches a leaderless ship list and begin a quick descent. This was never more evident in than in Treasury Secretary Tim Geithner's recent public meeting at Peking University in China. When asked of the present administrations long term debt position and the safety of China’s investments in US Treasury securities, he noted "Chinese assets are very safe."
From here I would like to tell you the audience stood in applause, with the strongest of investor confidence but instead the Treasury Secretary heard something that none of his predecessors have before. They laughed. They laughed at the hollow commentary with the firm understanding now beginning to set in concrete, that the ship has no leader.
About Me
- jd
- I'm just a fair haired boy who wears a mask with graying temples...a boy who dreams perfect little dreams of "another time", wondering where it all went. In those days of youth I traveled east till I was on the west coast and now, with the road in my heart, I write books in soft lead pencil on paper waiting for "another time" to come around once again.
