Monday, September 22, 2008

Financial Emperor Henry Paulson

Congress has been asked by King George Bush II and Financial Emperor Henry Paulson, to grant Henry the power to clean up the mess, that he and others worked to create.

This strategy works great in Washington. Engineer failure, then ask for and be granted supreme powers to clean up the mess you created. If this worked for the rest of us, the first baby to poop his or her diapers would become CEO of Johnson and Johnson.

So what are they asking for? In a nutshell, Henry (another good name for a King) wants unlimited power to borrow and spend money the taxpayers money. He wants sole discretion in how the money is spent. He wants complete immunity from prosecution and lawsuits, should someone decide to sue or arrest him for how he uses these powers.

This is exactly like getting burglarized, then later giving the burglar complete access to your financial accounts, on the promise that the burglar will wisely use your money to replace the stuff he stole.

In my opinion, Henry Paulson should be in prison for what he is done. but of course, the past few Congresses have legalized much of his activity, thanks to his lobbying and the lobbying of his friends that are enjoying sunny days on their yachts.

He screwed us big time. He robbed us. He destroyed our financial system. Now he wants, and will probably be granted the power to spend as he pleases, quantities of money that dwarf our nation's current largesses.

This one man will be able to give away, to domestic and foreign financial institutions, on a whim, more taxpayer money than is currently spent on education, the military, the War in Afghanistan and even the War in Iraq. He will be able to spend as many $trillions as it takes, to chase the dragon of inflation, by hyperinflating our currency. As he borrows and gives away, ever larger quantities of money to save his beloved banks, the dollar will devalue and he'll have to borrow and give away ever larger quantities of money.

Remember, in our fiat system with loans requiring interest, our money supply must keep growing to insure that debts must be repaid. Each bailout will produce a bubble, that will require a bigger bailout to save. Paulson already told us in a speech a few weeks ago, that he plans to blow another bubble.

The logical outcome of allowing Paulson to blow an endless series of bubbles is that he'll soon be spending more money blowing bubbles, than the US Government spends on everything. It won't take but a few iterations for him to get into the tens or hundreds of trillions of dollars a year in giveaways.

And what do the Dems have to say about this? They support Paulson, but want some consumer protections in the process. But to get what they want, they have to make concessions. As they didn't ask for extra fluff so they could give it up, they'll cave on consumer protections, and Paulson will become our Financial Emperor.

Then Nancy Pelosi will give speeches about what a great victory they've accomplished. When it all comes crumbling down, she'll tell us that her plan was to 'hope', that Paulson would give away infinite quantities of taxpayer funds in responsible manner, and how he disappointed her.


At 9:36 AM, Blogger an average patriot said...

It really sucks but you are right! You know, I have been saying it for years now but the Russian Doctrine of Destruction that Bush is following dictates that you must create disorder so you can then replace it with your version of new order. That is what Bush is doing to our societal order and what he is doing to the world.
The same is being done to our financial system in the Bankrupting of Our America! You know how I feel so I will just shut up! Damn, Damn, Damn, Damn!

At 6:40 AM, Blogger Dave Dubya said...

Oh, no! Nancy says she will resist the blank check bailout with no oversight?

Just like FISA, the dems will fold. After all, there's an election coming and we can't have any partisan squabbling now, can we?

At 7:07 AM, Blogger Weaseldog said...

I'm sure that Nancy will write a stern letter.

In a few months she'll tell us about that letter when she appears on 'The View' to promote her new book, "Henry and Me.".

At 7:37 PM, Blogger JerseyJeffersonian said...

Good work, Weaseldog. I've seen your posts over at the Dark Wraith and at Clusterfucknation, and followed your link from the comments at the Dark Wraith's revised version of his Economics of Wreckage, Part I. I will visit again.

P.S.: Don't know if you are already a visitor or not, but you might check out Col. Pat Lang's blog, Sic Semper Tyrannis - He's a man with an interesting background, a provocative host, and attracts a knowledgable commentariat. You learn stuff over there.

Thank you for being awake.


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