Monday, January 30, 2012

Gingrich Labels Romney A Wall Street Bankster

Well, Romney is in fact a Wall Street bankster.   Let’s rehash a few points we have made on here over the years.  Private equity is an extension of a private, for-profit banking system.   Private equity as an industry has arguably pillaged the United States more than any single Wall Street firm has on its own.   I see no facts that dispute Romney made his fortune from pillaging.  And,  private equity pillages with the backing of Wall Street money.  In its wake, the industry has raked in billions upon billions of dollars and left society with the bill.  A bill adding up to countless hundreds of billions, if not trillions of dollars of debt over the last decade.   Nothing really any different than the real estate debacle created by Wall Street fraudsters.   

Make no mistake.  Mitt Romney’s firm does not create jobs any more than Wall Street does.  His campaign pitch is either ignorant of economics or an outright misrepresentation of the truth.  Private equity is a capital consuming industry as is banking.  Now, you can hire people into these industries and give the illusion of creating jobs but it is completely illusory.   As a capital consuming industry, every job created on Wall Street or in private equity is simply a greater tax on society.  Now, if these aren’t capital producting industries, they aren’t creating any wealth or any sustainable employment.  Instead, they are shifting it from point A to point B.  They are shifting it from everyone else in our country to themselves.   That is why our nation has been decimated while Wall Street labels itself as masters of the universe.  It’s nothing more than graft.  It’s simply indisputable economic fact.   I would be happy to engage Mitt in a reasoned, fact-based discussion on CNN about how the economy works and how to create capital producing jobs.  Hahaha. 

I consider private banking and private equity to be one of the vestiges of historical cultures of empire, corruption and theft.  I view them as essentially crimes against humanity and an afront to democracy.  The only thing worse than private banking would be private banking operating under a gold standard.  That is essentially a prison system under which democracy would attempt to operate through some Orwellian writhing and twisting.  And, that is what happened historically.   It’s sort of like putting lipstick on Charles Manson.    Gold is simply the lipstick.  It sure looks purdy. 

Gingrich is right about Wall Street rigging the economic game.  But, let’s remember Newt Gingrich is also a master of rigging the game.   Additionally, he could very well be the most narcissistic demagogue this country has seen in the last thirty years of politics.   Maybe that is why he was able to compromise with Bill Clinton on so many “reforms”" (bought and paid for by corporate lobbyists) that literally decimated our country.

Gingrich here (hilarious and pathetic)  and here.

Romney here.

posted by TimingLogic at 10:33 AM

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