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Is it all about Incompetence or Just Pretense?

By : Ziad K. Abdelnour| 16 May 2011
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It is clear to everyone today that President Obama hasn’t been able to rein in the giant banks or significantly lower unemployment. Obama is following disproven models, and has appointed economists who either helped cause the crisis in the first place, or who have drunk the Kool-Aid of failed economic theory.

But Obama has actually been serving “his constituency”: Goldman Sachs and the other Wall Street giants which funded his campaign…..and top economists running the Fed and advising Obama didn’t miss the dangers to the economy due to negligence, mainly because they are rewarded for doing so.

It is a fact that the decision to use faulty models was an economic and political choice, because it benefited the economists along with those who hired them. For example, the elites get wealthy during booms and they get wealthy during busts. Therefore, the boom-and-bust cycle benefits them enormously, as they can trade both ways.

Specifically, it seems the “winning model” today is for the big boys to make bucket loads of money during the booms using fraudulent schemes and knowing that many borrowers will default. Then, during the bust, they know the government will bail them out, and they go about buying up competitors for cheap and consolidating power. They may also bet against the same products they are selling during the boom, knowing that they’ll make a killing when it busts.

It is not like economists weren’t warning about booms and busts. Nobel prize winner Hayek and others were, but were ignored because it was “inconvenient” to discuss this “impolite” issue.

Likewise, the entire Federal Reserve model is faulty, benefiting the banks themselves but not the public.

The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics today that real criticism of the central bank has become a career liability for members of the profession. This dominance helps explain how, even after the Fed failed to foresee the greatest economic collapse since the Great Depression, the central bank has largely escaped criticism from academic economists. In the Fed’s thrall, the economists missed it, too.

It is clear more than ever today that the Fed has a lock on the economics world. There is no room for other views, which I guess is why economists got it so wrong.

Not only have our government “leaders” in the Fed, Treasury, Congress and White House ignored the real world, they have taunted it.

The New York Times recently reported … that we sent in 36 U.S. Special Forces troops to get Osama bin Laden when we knew he was in Tora Bora. By contrast, we sent nearly 150,000 soldiers to get Saddam Hussein. In case you’re keeping count at home, we got Saddam and we didn’t get Osama.

What does that tell you about this administration’s priorities? Well, in my humble opinion, this goes beyond incompetence. If you send only 36 soldiers to get somebody in the middle of Afghanistan, it means you don’t want to get him…

Osama had about 1,500-2,000 well-armed, well-trained men in the region. 36 guys to get 2,000? Why would we let ourselves be outgunned like that?…

There is an inescapable fact – if you put this little effort into capturing someone, it means you don’t want to capture him. Only when it was politically expedient did the President allow the military to do that for which they have been trained and bin Laden was killed. Even in this, it would appear that the President revealed the depth and breadth of his Administration’s complete incompetence and total ignorance of the Mideast temperament. It would have been far more politically advantageous and psychologically powerful to have taken bin Laden alive and displayed him as a the captured, impotent coward that he really was. By assassinating him and then surreptitiously disposing of his body, Barack Hussein Obama has forever installed Osama bin Laden as a martyr of mythic proportion in the demented minds of zealous jihadists and fueled conspiracy theorists ad nauseum. This level of incompetence defies credulity.

Similarly, if you think Obama is competent in fixing the economy and reining in Wall Street, remember what Harold Bradley – who oversees almost $2 billion in assets as chief investment officer at the Kauffman Foundation – said:

“We are in a cabal… five or six players … own the regulatory apparatus. everybody is afraid to regulate them”

As Abraham Lincoln said, “You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.” As long as you don’t lose the teleprompter.

Your feedback as always is greatly appreciated.

Thanks much for your consideration.

Comments

  1. Patrick RooneyPatrick Rooney

    Incompetence is apparently a requirement for the political puppets currently being hired by those with money and interests to protect and enlarge. The decline in morality and courage in our political class is so obvious that those in power behind their ‘front-men’ are pretentious in their continued hubris. The wheel is turning, and thank you for your honest depictions here in your blog posts.

  2. Robert FayRobert Fay

    I so very much enjoy the sound and fury of everyone here. Thank you for your courage and striving. My voice is too harsh for you to hear, so it will not speak it’s ‘in-the-illusion disposition to dominion’s conquest’. Some of you may, or may not, know that I am an energy-sensitive (not a ‘psychic’). As such I know where energy wants to go to ‘make-expression’. My job assignment is to help move energy … move energy into expression. Whether we like it or not, everything is well in hand. The Big Picture agenda is in control of the now, irrevocable, ongoing dimensional transition. The so-called elites have been instructed that they have lost control. This is so, they have lost control. They see it, though they will never tell you or anyone else outside of their ‘well-intentioned’ community. The inscrutable calculus of the Big Picture is just that, inscrutable and changeable as suits its purpose. What is that purpose? To drive all beings to the point that they listen for, and hear, their inner-guidance, their inner ‘knowing. How best to get there? Well, if you had some set of ‘sacred-cows’ you depended on, and they all started to fail you, would you wind up listening to your ‘knowing’? How far down the road of complete fragmentation of all of those elements you depend upon have to go to get so you will begin to listen to your own, personal, inner-guidance? In the end, you are to ‘hear’ you own personal Inspiration. And then act outwardly to express it. Then you are to intake the Experience of that expression, whatever it might be, good or bad. Then you are to get bored with that Experience and conclude or End it … walk away, forget it and then arrive to the place of real-balance. This is tricky. Real-balance is the state where there is an ‘absence-of-stimulus’. This is where you have perfect amnesia about the aggravating memories of the previous Experience. Aggravating memories are the stimulus that causes you excess contained-energy. This excess contained-energy will cause disease and it always causes static preventing you from hearing your own personal inner ‘knowing’. My reason for detailing all of this is so you will understand the ‘good-reason’ why the whole world is going down the toilet … and why we are all so furious. So, if you find your own inner ‘knowing’ Inspires you to fury, then outwardly act on it with some sort of expression that your Inspiration seems to guide you to. Then intake the forthcoming Experience, whatever it might turn out to be. Remember, there is, no such thing as judgment. Now, the King of England, back in the days of the American Revolution, certainly wouldn’t like that kind of language, would he? I wonder who, today, see themselves or are in the role of being the ‘King of England’ today. I wonder whose side the Pentagon will choose to be on? Of course to ask this question, one must recognize that this is to ask if the Pentagon recognizes that the “Hand of Providence” is in charge or not. I will answer that. Yes, they do know what is afoot … and why. So, with that, may I encourage you all to stride forth with your own Inspirations as they come to you. Express. Experience. Proceed. Robert ~

  3. Roger AklRoger Akl

    We’re no more in a democracy but in a “corporatocracy” directed by the large corporations, the multinational and the lobbies that control the media. The media are too expensive to be independent; they are owned by the multinational corporations. To be elected as a representative, a senator and a president need the media. The media are controlled by the lobbies and the corporations. They need to sell arms, reconstruct or replace what has been destroyed by war and control energy sources, oil if you prefer. For that, they make elect those who promote their interests. As for a revolution, good luck; I don’t think that the Americans have got the guts of their ancestors.

  4. TonyTony

    While not being a big fan of the present administration, TARP was invented under the previous administration. We can scream and yell as much as we want, the fact is and remains that the Republic is damaged. The guys in Washington have to have their powers limited and re-assigned. A balanced budget amendment must be introduced, A “simple” mechanism must be introduced. A smaller government must be enforced… And please let us get laws that can be read by humans and not by lawyers only…

  5. StephenStephen

    You are right on the money in your analysis as always. What will be next is food riots, stagflation,more homelessness etc. This is a planned failure to cut America down to size for the wealthy. We are GROWING the seeds of a new revolution on american soil… THIS WILL MAKE CITIZENS TERRORIST’S.

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