Archive for June, 2008

higher interest rates?

Tuesday, June 10th, 2008

The Federal Reserve is breaking clues that interest rates may be going up soon. This comes at the same time that there are fears that the (falling) dollar will be assisted off the oil denomination stage. But raising interest rates also would reduce the stimulating effect of having cheaper things to sell than the Rest of the World (RoW). Then add in the obvious negative political consequences from crashing mortgaged voters, families and friends, and we can’t justify this as part of a rebuilding effort.

It has an aspect to it of something of a fire sale, (further) plundering of the economy, in anticipation of reversed political fortunes of the corporate rich.

In other words, since the economy is doomed, drive the polarization between the rich and poor to the max, in order to maximize the advantages of controlling wealth during bad times.

Such an interpretation makes a certain sense. I am still having trouble understanding why anyone would want to raise interest rates during a growing realization of massive debt, much of it in default.

It seems impossible that anyone driving such a polarization would be accurately able to predict its outcome.

Wouldn’t this be a great time to focus on infrastructure and health care? To do so would be a way to inject money into the economy, and gain social cohesion at the same time. There is the matter of not being able to do so without taxing the rich.

But, if the money is going to come from the rich anyway (that’s where it is), wouldn’t it be better to take it by taxing them? Isn’t that how they should want it to be taken? It is better to be taxed than to be eaten.

convenient knowledge

Sunday, June 1st, 2008

Yesterday Daniel Schorr was saying on NPR that the new book by Scott McClellan doesn’t say much we didn’t already know, i.e. we already knew Bush & Co. had lied us into a war. Ok, I admit, I did know it.

But who would have thought that the broadcast media knew it? Are you kidding? Forever they’ve been saying, “not really a lie, so much as a mistake.”

Remember the old days when they would fall on their swords?

And then for generations after it was a figure of speech, “to fall on one’s sword”, the trope.

But I knew things had changed when after 9-11 I suggested handing out swords, and everybody told me, oh, didn’t I know, it was just a joke now-a-days. Nobody really did that anymore.

Yes, I knew that. For another few generations Westerners just resigned from office, and kept the swords in the closets. No, the joke is that now they don’t even resign anymore.

Back to Bush & Co. lies. It is a whole topic in history by now. When did Daniel Schorr begin calling out our lying leaders?

Should he and oh so many others be falling upon their pencils?