Dare I Say It? I Agree With Rev. Jesse Jackson That The Fix Is In, But..

Dare I Say It? I Agree With Rev. Jesse Jackson That The Fix Is In, But..

I have to admit that there are very few things that I could ever find common ground on with the Reverend Jesse Jackson. Don't get me wrong here either as my contempt for Jesse Jackson does not diminish the fact that I truly believe that African-Americans, as well as other minorities and low income Americans, have been given the short end of the stick.

Much of it, though, is self-induced by a false sense of security given to a flawed ideology and by those who push it. You see, I have always viewed the Reverend Jackson as being part of the problem as opposed to being part of the solution and I don't think that I will ever waver in that belief. To me he is a charlatan who has enriched himself handsomely off the backs of the very people he purports to serve. And believe me, that contradiction has always bugged the hell out of me. However, his commentary in today's Chicago Sun-Times (dare I say it?) is spot on!

Jesse Jackson believes that the fix is in and asks us to not fall for the latest con that will ultimately fleece working Americans. He rightfully points out that it is quite ironic for Standard & Poor's to downgrade America's credit rating when they themselves "contributed directly to the mess we are in after they rubber-stamped NINJA (no income, no job, no assets) mortgage packages as Triple-A secure investments."

Well, Reverend Jackson, you are 100% correct that that scam definitely contributed to the economic collapse and has magnified the malaise we are currently in. Somehow, though, I suspect that their actions would have met your approval had you directly profited from them yourself (that is if you haven't already). But hey - the world is being run by all sorts of charlatans and scam artists isn't it? Just because the financial sector conducts its business legally, that doesn't mean that their motives are completely honorable in their execution at all times. Let's face it, the financial sector, and its speculators, have turned everything into a commodity. I am surprised that human waste isn't traded on the open market. Oh shit (pun intended) - there are such businesses out there doing just that!

Now, I do not doubt that Reverend Jackson is probably correct when believes that the Republicans will more than likely destroy Social Security and/or Medicare while resisting any and all efforts to raise taxes on the wealthy. Yet, we should not forget that both sides of the aisle have perpetrated these frauds and scams upon us all along. It isn't as if the Democrats haven't exactly refrained from robbing a once very solvent Social Security fund to pay for some other desired extravagance at the time or that they themselves haven't capitulated to the demands of the private sector as the lure of huge campaign donations hung in the balance.

The debt, and its refusal to curb it, falls squarely on both political parties.

So please - let's stop kidding anyone here okay?

The fact of the matter is that Democrats and Republicans alike have both fallen prey to the special interests that now dominate our national political landscape. And no matter what political ideology is being hawked at any given time, there will be people within who will go along with the status quo in order to enrich themselves "while the getting is good." Both sides have used the very same loopholes and exclusions as the other party so as far as I am concerned - these charlatans do not have a specific ideology except for the one called greed!

Spinning Heads

Isn't that right Reverend?

 

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  • You can look at what I said in response to Wiz on Street Level, who said that the Tea Party folk are anti-American. Of course, Byrne was linking to someone who said that Obama should be impeached over policy (although Byrne didn't think so). I agree that both parties are to blame, and the level of rhetoric reflected in both posts is harmful.

    I also wonder how S&P can be trusted, given it and other rating agencies and stock pickers recommendations that everything was good or a "buy or strong buy" prior to 2008.

    To throw two other things on the fire:

    ==> I can sort of see S&P's point that they weren't rating the debt ceiling bill, and the threat of "immediate default" if the government can't borrow more, but how good the bonds might be in 30 years.

    ==>Nonetheless, some sources are figuring out that yesterday's plunge might not be related to the downgrade, in that people took money out of the stock market and put it into Treasuries, which were downgraded, sending yields to record lows and assuring that monetary policy won't help. The $US also went up against the $C, and seems to be squiggling against the Euro, although Europe has its PIIGS problem. Of course, money also went into gold, which may be tangible, but not worth $1700 an oz. next week.

    This sort of looks like 2008, in that stocks went down and also gasoline futures, although the latter is not reflected at the pump in my area. Hopefully, stocks don't go down that much again.

  • In reply to jack:

    First may I say this - I have had my moments with Wiz early on when I did a piece on E Pluribus Unum and I said that being identified as a hyphenated American is counter productive if there was ever an expectation of equality. We are either Americans or we ain't. It wasn't until after Wiz unleashed some more bullshit at me that he learned of my military experience and my first hand experience with the brothers bitching about Uncle Sam's penchant for putting po' blacks on the front lines. I had to remind him of the ahem moment when I asked the brothers if I was chopped liver and the retort was "aw you one of us - you know what we mean." Well no I didn't know what it meant and told Wiz that and we have come to some sort of understanding since then. I do get him, but unfortunately he carries a chip on his shoulder while spinning some of his yarns because he brings it from a place we can't envision sometimes. The Tea Party argument? I have had them with him and even reminded him that in the early going, at least in Joliet, there were plenty of Blacks present at rallies. He didn't accept it or get it then - but strangely he does get the New Tea Party now. In the end, I suppose Wiz sees things in a way only someone in his position can see - it doesn't make it 100% right, but it is for him. I do try to read his stuff and take the value out of what he has to say and I'll leave it at that.

    As for Byrne - I just don't read him anymore. He tries to cover his ass way too often so you can't pin him down on what he really thinks, besides if you question his rationale via comment he rarely answers - so excuse me if I don't check your comment over there. Just give me the gist of it.

    The S&P unfortunately can afford to play the fence and affect the outcome from either position, whatever it is. I understand why they did what they did, but I question the wisdom of cutting their own portfolios value in the process. Personally, the ratings agencies are just another cog in the machine. Nations, US included, will redefine what the true value is for their securities based on their actions. Europe has intervened on behalf of the US as well as their own internal issues so it will be interesting to see where the normalization falls and how it affects those in the trickle down. Now is gold worth $1700 an oz - not on your life but it won't mean a thing anyhow if you recall the Twilight Zone episode about thieves and their gold in the future. In the end, the gold was only as valuable as to what it got you before you were swindled out of it.

    Here is the moral to the whole story - both sides need to get off their asses and come up with a plan instead of using the economy as a campaign ad. Nothing will mean anything until people begin realizing that you can't spend what you haven't got for perpetuity. It is at best a temporary solution that has become policy ever since Reagan. What we need is less rhetoric and a little more rational thinking - even from bloggers.

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