Home > Predictions > Fiscal ‘responsibility’ and Third World politics

Fiscal ‘responsibility’ and Third World politics

You know your country is descending into Third World despotism when trillions are given to a tiny minority of privileged ‘elites’ and the rest of the populace is left to slowly starve.  It is a consistent theme of this blog that the budget deficits and money printing advocated by Paul Krugman are signs of terminal economic madness.  However, it is vitally important to clarify that the current policies advocated by the Republicans on social spending are equally insane.

The blatant and obvious hypocrisy of the Republicans should by now be obvious to all.  You cannot support the bailing out of the major banks, the govt-supported housing industry, and the largest debt-players in America (namely the so-called ‘car-makers’ – who are really just usurers in car-maker drag) and then advocate ‘fiscal responsibility’ by cutting unemployment benefits and social welfare to the poor.

Paul Krugman is right to suggest that the Republicans are hypocritical shills for the establishment.  Whatever is good for rich – perpetual tax cuts and squeezing the middle class to within an inch of their lives – is supported by this bunch of crooks.

Simon Johnson is right to worry about this in one of his latest posts on his blog.  He considers the failure to provide safety nets for the poor under the guise of fiscal austerity a sign of decline into a Third World America.  I have to agree.

Let me be clear: I would prefer socialism to fascism if that is the choice we have to make.  It’s just that I’d prefer not to have the choice.

And what is the strategy to avoid plummeting down the ‘snake’ of indebtedness and impoverishment in ‘Snakes and Ladders’ Third World America?  Well, if the current corrupt system stays in place you have only a few choices: (1) marry into the elite world (2) get a cushy government job and escape the market where everyone is slowly dying through being overtaxed and through lack of capital or (3) become part of the underworld, feeding off the vulnerabilities and weaknesses of those suckers who are left (i.e. become a drug dealer,  a prostitute, a mafioso member).

Sadly these will become the only choices in Third World America.

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