Monday, October 22, 2012
Why to root for going over Fiscal Cliff
Originally, the goal was to sit through the third Presidential debate, analyze it and write a lengthy prose about what the candidates said or didn't say and what they talked about vs what was the original questions posed..
Frankly, we just couldn't do it..
We figured most people were watching Monday Night Football or Game 7 of the National League Championship, so why bother writing on something most didn't feel like watching. And those that did, well, they can make up their own minds who "won" or who's the best candidate to be their President for the next four years.
It just seemed no point- the questions we posed yesterday weren't asked and really those were the only questions on foreign policy which mattered.
And quite honestly, by now you should know who you are voting for by this point. And even if you're not 100% certain, there definitely should be some serious leaning toward one person or the other.
We just didn't think breaking down the 3rd Presidential debate would matter much to our readers so ultimately we decided to just skip it...
Instead we wanted to talk briefly on "fiscal cliffs".
If you haven't heard the phrase much lately, you certainly will no matter who wins in the election.
What you will hear in the mainstream media and pro-Wall St forces is that if Congress fails to reach a deficit reduction deal by the end of the year, it will automatically trigger big spending cuts and tax increases in 2013. They say it would hit the still-recovering U.S. economy hard.
Poppycock! or Pish-Posh! or utter Bullshit! (Take your pick)
What Wall St and the top 1% want is the Bush tax cuts to become permanent. They were supposed to have expired two years ago but President Obama, who had pledged in 2008 not to renew them, did so in 2010 and 2011.
They also want to completely gut what they call 'entitlements' and social programs that benefit the poor and elderly. In spite of stereotypical notions, this is not solely a Republican desire. Wall St Democrats want to do this as well. The only reason the agreed-to cuts weren't fortified last year with the bi-partisan Commission was neither side could agree on the Severity of cuts.
It certainly was not a battle between 'cut' and 'don't cut'
But like everything else in this 'Alice in Wonderland' like economy of "black is white", you really Want the nation to topple over the proverbial 'cliff'. Why??
Well.. honestly its the only thing that can possibly save and in fact Strengthen the US dollar and its purchasing power!
We'll explain. Everyone who's read A&G knows that Bernanke has done everything short of whoring his mother to devalue and seriously weaken the US dollar which means it takes more money to buy goods and services than prior... and all so banks can recapitalize and the heavily indebted US Government can roll-over its debts with new debt at lower interest rates.
Now.. if the US Government does reach that fiscal cliff (which we honestly don't see happening since nothing ever occurs in the financial world which actually benefits the people), that will cause great panic and always in times of financial uncertainty, the parasite investors Always flee to the safety of the US dollar,which is the global reserve currency.
In addition, the automatic spending cuts could be viewed as a sign of fiscal discipline that would benefit the currency, not hurt it. This means of course, greater purchasing power than before i.e. stabilization and/or lowering of cost of gasoline, food, clothing,etc.. since less physical currency would be needed to buy what is needed now.
Of course the unscrupulous bearded bastard of the Fed would double-down his efforts to destroy the US dollar even more than he's done now but that would be a stomach ache for another day.
Now the media and financial elite will say that if fiscal cliff occurs, the US will be back in a recession.. Um.. Hello!! We never truly left the original recession which began in December, 2007!
But in case you're wondering, everyone in positions of power and financial influence would be poo-pooing fiscal cliff as a bad thing because recessions hurt corporations' profit margins and coupled with a strong US dollar, kill them when it comes to selling products abroad.
And how come no one admits we're in recession? Well a small group of academic nerds who have the responsibility of "officially" deciding when recessions begin and end declared in 2009 that the US recession was over. The 'presstitute' media latched on, and thus.. Ta Da.. 'Recovery'
Little interesting tidbit-- the term 'recession is actually a modern phenomenon. For most of US economic history, a great downward tide was referred to as a depression (small d) or 'Panic'. Because of the connotations of the word after the Great Depression, the academic elitists had to come up with another term to describe downturns that didn't cause fear among the public... and thus 'recession' was born.
So in summary, when the government, Wall St and/or the media tell you something is good for you, believe it to be Bad! And when they something will be terrible, then Hope and Pray for it to happen.