Aug
8
The Goldman Sachs White House
Filed Under Intellectual Honesty
Just because someone is Socialist, Green, Communist, Anarchist doesn’t mean their views should be dismissed. Often, it is “radical” individuals who feel more comfortable voicing the truth than those that are popular and have more at stake. People like Dennis Kucinich, Bernie Sanders and Ron Paul bring a lot more truth to light than those that are far more popular.
Andrew Cockburn, a socialist, writes an important piece for Counterpunch detailing the extent to which a few financial firms have the full ear of the White House. As the US consolidates more power at a national level and with the Executive Branch of government, we see that these conflicts of interest will be more pronounced and dangerous.
Takeaway: Popular arguments are rarely thought-provoking. That which assuages us, nurtures our pre-existing worldviews and cannot possibly help us learn and grow. Read what you disagree with.
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I did catch the Geithner gesture (let’s call it that for now) about China’s crcuenry. I doubt that Geithner will dare do anything serious, though. If China dumps the dollar, even if it does so gradually (as it would), the US economy, which already consists mostly of hot air, will start to smell of sulphur.The moment nobody wants those bonds is the moment of doom. At that point, there won’t even be symbolic gestures left to the US bureaucrats. They will have to pack up and leave. That may be the end of perestroika and it may not be so far away if Geithner gets tough with China (i.e., not just a gesture but concrete measures). Peter Morici, an honest man, has been speaking and writing repeatedly about the trade deficit with China as the most urgent problem to be dealth with. I have no doubt that Morici would do something if he were in charge, but Geithner… he probably does not want to be remembered as the guy who finally sank the dollar.The trade deficit with China is not part of Obama’s plans as laid out in his website.