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Have you been reading and hearing the word "austerity" a lot lately?
Not really a word that's all that commonly used. It means "sternness", "severity of manner"......but in it's current incarnation what it means is "strict economy."
The word "austerity" is not often heard when the national or international Ponzi scheme that we call modern capitalism is in an "up cycle." For example, not too much austerity talk during Bill Clinton's presidency.....a time when the Big Ponzi was building in the stock market.....Nasdaq 5000.....remember those good times?
Same was true during George W's presidency. Nothing austere about slashing taxes on America's richest. Let the good times roll. And then of course, there was the Big Ponzi in mortgage paper shuffling.....which has worked out oh-so-well.
Only now, after all the Ponzis have blown up.....after all the new millionaires have been made, after taxes on the wealthiest have been radically reduced, after government deregulation of all things has driven much of the world economy into a ravine....now, it's time for "austerity."
After billions in bonuses and millions in capital gains tax reductions have been gathered up by the Very Serious Financial Professionals amongst us, after a thirty year period in which the richest few have only amassed more wealth while working families have not gained one teensy little bit.....NOW, it's time for "austerity"....a "strict, stern, economy."
Strict or stern for the wealthiest? Don't be silly.
Guess which group of people must be punished in our new age of "austerity"? Guess who the whip must come down upon during this non-bubble economic time?
Guess which class of people the words "strict and stern economy" apply to first?
That's right....the most vulnerable. Those who make up the lower working classes, the elderly, the sick, the poor.
We've already witnessed the mini-cosm in Greece. Banksters there lost money too. Now it's time for the working class to be punished for the sins of the Banksters. Just like here in America.....or England....
Wearing her diamond-studded crown, Queen Elizabeth II arrived at Parliament in a gleaming horse-drawn carriage to deliver a message of austerity and making do with less in troubled economic times.
...at risk are some of Europe's cherished welfare protections — from retirements in the early 60s to months or years of unemployment payments that come close to working wages.
Make no mistake.....this "austerity" nonsense is coming to the United States.
Why, even the socialist-commie President Obama has set up a commission to oh-so-studiously....study our national debt situation....and come up with recommendations. Recommendations sure to be very similar to those from the diamond-studded, crown wearing, extremely wealthy, figurehead of England.
Here in the U.S, folks like Pete Peterson and Grover Norquist have been waiting for this great austerity opportunity. Pete and Grover speak for the lowly and often-oppressed, millionaires and billionaires in America. Both men will play a significant role in planning just how austere the cuts for poorer working families and the elderly and the sick....will have to be.
We'll be told that there is simply nothing else that can be done. The Social Security retirement age will just have to go up to 70, or higher......Medicare will just simply have to be slashed because the elderly are just too sick all the time.....Medicaid reduced because we simply can't afford to provide health care for the poorest among us. Perhaps unemployment compensation slashed....you know, those on unemployment are just lazy anyway.
In other words.....austerity. Not for the wealthiest, mind you. Not for the hedge fund manager or the bankster executive responsible for f*cking stuff up in the first place....oh no....once again, don't be silly.
No, "austerity" must be imposed because Wall Street types are oh-so-concerned about our nation's fiscal future. Our nation is just borrowing too much money to pay for the elderly, unemployed, sick, and impoverished....and if Wall Street doesn't get the cuts it wants for those services to America's most vulnerable, then they just can't guarantee that they'll be able to successfully blow up another bubble, or create another Ponzi scheme with which to "grow" the economy.
So...listen up for the word "austerity". The rich have had their way and have amassed their fortunes to new historic heights. No new bubbles are in sight....so.... that means that it's time to take from those who really don't have much of anything....in order to properly prepare for the next money scheme which will enrich the already-rich even more.
Really now...how could it be any other way?