Cash for Trash

OK, I admit that I shamelessly took this post from Alternet's Hey Paul Krugman post, but I couldn't resist.



There were a number of us "Progressive Democrats" who met with Congressman McGovern in December to provide copy & conversation on our "Priorities for the 111th Congress." One does have to try at least. I gave Jim a copy of Paul's book
The Return of Depression Economics and the Crisis of 2008, which Jim thanked me for. If Jim read the book, and took it to heart, then maybe in some small way I've contributed to the debate, now raging.

So what's that all about, simply put, you may (or should) ask? Its about who's U.S.Treasury is it anyway? Before you answer, "its ours, the American people," be forewarned. The answer is in Paul's book, that the U.S.Federal Reserve (a private banking conglomerate) assumed control some time ago - its why Goldman Sachs chairman Henry Paulson got the job under that neocon criminal cabal infecting our government for the past 30 years.

The hope of course, for us ever optimistic progressives, is that Barack Obama would make a real difference of authority and control. The verdict is still out on that, but its not looking too good right now. Paul Krugman is on the front line, on "our" side. Against the forces of the Shadow Banking System. Instead of nationalizing the bad debt and privatizing the U.S.Treasury, Paul wants to nationalize the good assets - the banks, and privatize the bad debt, leaving the perpetrators of this financial crisis to flounder under the weight of their sins. Think AIG.

I'm all for leaving the laws of karma to work. But Congress legislated us into this mess to begin with, by lifting all restraints on banking in the first place. Now we expect them to fix it? Really? For more on this, consult Paul Krugman:
Paul Krugman on the "Cash for Trash" Program