Most Americans know that when President Obama entered the power pole of presidency, he changed the law to allow unlimited spending for campaign contributions. One year ago, the Obama administration was contemplating an executive order that would require all corporations with a government contract to disclose political spending. The purpose was to make the federal contracting process more transparent. Since so many companies have a federal contract, the order was seen as an act of disclosure that required all corporations to reveal political spending over $10,000.
As is often true in politics, this initiative seems to be dead. The administration is unlikely to issue that order until after the 2012 elections at the earliest, and you know why. It’s been a grand pretense.
The larger question is what the White House is actually willing to do to create a better campaign finance system. If it’s not going to sign this executive order, the administration could try to force some nominees onto the Federal Elections Commission, as many good government groups have urged. Alternately, the White House could call for the Securities and Exchange Commission to issue rules requiring political spending disclosure, a move that one SEC commissioner has already voiced support for.
If Barack Obama is serious about campaign finance reform, he might take some of these executive actions. Alternately, he could just keep supporting bills he knows won’t pass, while raking in millions to his Super PAC for untold future promises.
The strange French of “financial literacy” is once again being touted in Washington. “Although historical experience and economic theory do not indicate the exact threshold at which the perceived risks associated with the U.S. public debt would increase markedly, we can be sure that, without corrective action, our fiscal trajectory will move the nation ever closer to that point,” says Fed chairman Bernanke. Quite simply put, the United States federal government can’t continue operating as it has been over the last decade or more.
Bernanke says that an economic recovery is underway and that Washington risks undoing that. According to some, “bipartisan politics’ is part of the problem. Like most Americans, I’m hardly fooled by such talk. One of the largest problems in this nation is that politics in both parties has become more and more synonymous. The only difference is advertising and perception, a problem that some politicians feel must be changed this election. The real problem is that any change is just window dressing. The power behind the throne remains the same.
Spending, jobs and national production have only recently began to indicate the possibility of improvement. Those in financial circles are fearful of continued stability with record government spending. The politicians see staying the course as a kind of guarantee that the job market will continue to improve. Stable prices is the other goal as the nation faces hyperinflation from continued ‘quantitative easing,’ the vernacular that indicates printing more greenbacks. Why is Bernanke cautionary? He realizes that at some point the Federal Reserve cannot continue their present course and expect the financial rivets to stay the hull. The iceberg of uncontrollable inflation is staring him in the face. Even an overextended global currency can’t continue forever without credit restraint. Even Bernanke is smart enough to see the signs.
In the nation that we affectionately call the United States, a situation exists where nearly 50 million people are dependent on food stamps and the numbers keep getting worse. The majority of the population is now reliant on the government for their day-to-day living expenses. There is a comparative handful of people who fritter away billion of dollars every year through the financial institutions they control while their annual “compensation” is an inconsiderable fraction of the losses they preside over. A global banking system, where fiat money created out of thin air through the fractional reserve, used to be to lent to individuals and businesses. That money credit is now being created to buy the debt of government.
The amount of that debt continues to increase everywhere, often with a shrinking tax base of older folks with falling birthrates. Everywhere, the idea of a government actually reducing, let alone paying off its debt. is considered irresponsible because of the “recession” which would be the inevitable outcome. US ratings agencies downgrade European sovereign debt on concerns that the nation in question ‘might not’ be able to pay off their debt while ignoring the fact that this same debt is the ONLY foundation available to the credit-based monetary system.
As the guardians of the insane system, the central banks boast about their indispensable role in maintaining monetary stability. To maintain this invaluable stability, they decree non-existent interest rates, create ever larger mountains of freshly printed money to keep companies, banks and governments solvent. They go to any length to prevent paper assets from being genuinely priced in any form. The marketplace is a fiction.
Recently, at a picturesque resort in Wyoming, Fed chairman Ben Bernanke met with his global counterparts. The financial world was attentively looking for indications of what these men are planning after having exhausted every monetary policy tool at their disposal. They continue to print dollars.
The never-ending credit expansion is obviously unsustainable. It’s painfully obvious, like the stoned dad that pilfers away the earnings of his family to buy more bad drugs. In the meantime, the mob supplies the credit for the kids to live on. The insanity must stop, but not because of any wisdom or bold “financial literacy.” One day, it simply will. Everything that real people have put their faith in simply won’t help them anymore.
Every American citizen that doesn’t act or do exactly as the government dictates is now subject to indefinite detention per new law. What is coming down the pike? You can use your imagination.