Deadbeat Politics

The goal of the system is to make you a deadbeat.

Bailout For Deadbeats

Posted by Deadbeat on May 30, 2009

The U.S. Government has committed in the neighborhood of 12 trillion dollars in order to bailout the banks.  It amazing that there has been more demands coming from the “Left” demanding a bailout for deadbeats.

With unemployment up and nearly 12% of the American people are behind on their mortgages and clearly falling behind on their credit cards debts. This is not to even mention the growing student loan problems as well which will have a chilling effect for the future.

The real basis of the crisis is due to the past 30 years of stagnant wages and the growing gap between the rich and the working class.  Why is this important?  Because inequality lowers the standard of living of working people because the increasing concentration of wealth forces up prices and create bubbles that leads to crisis.  Working people maintained their demand through borrowing as the cost of housing, transportation, health care, child rearing and education skyrocketed.

Which means that the current crisis is not really a “banking” crisis but a crisis due to inequality.  Since the government found $12 trillion to commit to the banks the government could have offered relief to all deadbeats by simply canceling their debts.  Clearly the banks and the ruling class would abhor such a solution but where is the Left in offering such a demand?  The Left was in the front lines with their protest of debt cancellation for third world counties IMF loans you’d think they would adopt a closer to home demand for working class relief.

It is clear there is enough resources to resolve inequality but unfortunately the working class is just too unorganized and too weak to demand for their own bailout.

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