Ben Bernanke, the Federal Reserve chairman who was appointed by George W. Bush and served for about half of the Obama administration is writing a blog now that he has retired. Over the course of these years Bernanke has spoken many times and made many forecasts. So far he hasn’t been right once. He has had his way however. Go to youtube and do this search, “Ben Bernanke forecasts.” Watch, listen and see. Is he brilliant or not? It doesn’t matter. As an economist he has no utility to society. He has respect and God only knows why.
Pro business is pro fascism. It works the same way every time. An interesting aspect of democracy is that criminals have access to the political system. We all know, that felons are excluded from voting, We also know that smart criminals never get caught. The smartest criminals of all use government to rise above the law and do such things as force the public to buy their products or services. They also get laws passed to destroy their competition and rig markets in their favor.
When government goes pro business, the criminals start going to work. Many mantras are spoken. “What is good for Wall Street is good for Main Street.” “When has a poor man ever given anyone a job?” “A healthy economy is good for everyone.” Then, massive amounts of money are injected in the economy to elevate profit margins. Savers are deprived of interest on their investments and the poor are kept comfortable so they don’t riot. As time goes by the countries resources are used more and more inefficiently until the economy collapses.
Fascism makes a lot of people happy in the beginning. The good things are easily seen while the damage being done is invisible.
So far, every country that has gone the fascist route has been destroyed. Nazi Germany, Italy under Mussolini and Argentina several times destroyed themselves during the 20th century. Fascism is hard to turn back because citizens with the most wealth benefit from the system, until the country starts to unravel. Do not think that Hitler rose to power without help from German Industry. The rich in Germany conveniently did not see Jews being murdered. Because power corrupts, government becomes more corrupt the longer the fascist system operates.
During Bernanke’s tenure as Fed chairman, unimaginable wealth was accumulated by a few while the masses were being impoverished. A pro business government is a fascist government. Ben Bernanke was a pro business Fed chairman and he is a fascist.
When Times Got Really Weird is a haunting Curbside Jimmy tune. It is just right for the times we are in.