15 October 2008

Defecit deus.

Chris Floyd has an excellent post (worth reading in its entirety) titled The God that Failed about recent economic events. In the post, he talks about all the things that the trillions spent on banks could have bought. He then continues:

The money for all of this -- and much, much more -- was there, all along. When they said we couldn't have these things, they were lying -- or else allowing themselves to be profitably duped by the high priests of the market cult. When they wanted a trillion dollars -- or three trillion dollars -- to wage a war of aggression in Iraq, they found it. Now, when they want trillions of dollars to save the speculators, fraudsters and profiteers of greed in the global market, they suddenly have it.

Who then can believe that these governments could not have found the money for good schools, health care, and all the rest, that they could not have enhanced the well-being and livelihood of millions of ordinary citizens, and helped create a more just and equitable and stable world -- if they had wanted to?

This is one of the main facts that ordinary citizens around the world should take away from this crisis: the money to maintain, secure and improve the lives of their families and communities was always there -- but their governments, and their political parties, made a deliberate, unforced choice not to use it for the common good. Instead, they subjugated the well-being of the world to the dictates of an extremist cult. A cult of greed and privilege, that preached iron discipline to the poor and the middle-class, but released the rich and powerful from all restrictions, and all responsibility for their actions.

This should be a constant -- and galvanizing -- thought in the minds of the public in the months and years to come. Remember what you could have had, and how it was denied you by the lies and delusions of a powerful elite and their bought-off factotums in government. Remember the trillions of dollars that suddenly appeared when the wheeler-dealers needed money to cover their own greed and stupidity.

Let these thoughts guide you as you weigh the promises and actions of politicians and candidates, and as you assess the "expert analysis" on economic and domestic policy offered by the corporate media and the corporate-bankrolled think tanks and academics.

And above all, let these thoughts be foremost in your mind when you hear -- as you certainly will hear, when (and if) the markets are finally stabilized (at whatever gigantic cost in human suffering) -- the adherents of the market cult emerge once more and call for "deregulation" and "untying the hands of business" and all the other ritual incantations of their false and savage fundamentalist faith.


Vancouver Voyeur said...

That's a good observation. I'll go check out the entire article.

Diana said...

Factotum is one of my favorite words :)

I think your post, referencing Chris Floyd's post, broadens the point I made at DFC about a stimulus check.

We should not think it outlandish to ask for a stimulus of $10,000. Our debt is already 11 trillion dollars (of which none went to the citizens), what's another trillion to bailout the people and at the same time stimulate the economy -- enough to avert an even deeper recession, and keep the ship steady through the storm until President Obama can implement his plans to create new and better paying jobs?

I have to question the motives of those who didn't object to the bailout of the bankers and now ridicule the idea of a stimulus for the people, many of whom were, no doubt, and still are silent about spending $10 billion a month on a war that should never have been waged in the first place. Many of these people now say we can't afford a stimulus because it would only add to the national deficit. Well guess what, we're going to need a whole lot of deficit spending to bail us out of this mess.

My two cents, for whatever it's worth.