Tuesday, July 7, 2009

Obama and Bernard Madoff

Most Americans have still not grasped the magnitude and the far-reaching effects of the national debt. Edward Cline makes an excellent attempt.

To grasp the magnitude of the national debt Obama (and his Republican predecessor) has been ringing up, a comparison should help illustrate the task. Bernard Madoff’s robbery and defrauding investors of some $50 billion can be represented by the diameter of the solar system. The federal government, using the same scamming tactics, is amassing a debt about the diameter of the Milky Way galaxy. Madoff’s scheme can be measured in millions of miles. The federal government's, in almost limitless parsecs. That measurement ought to suffice to dramatize the scale of the hole he is deliberately digging for the country in his role as Community-Organizer-in-Chief.
Where is all the money going to come from? From the productive Americans, who are going to work for Obama whether they like it or not. He has short-sold the American future.
That growing, astronomical debt, however, will serve to shrink the productive sector and make it less productive in exponential leaps and bounds -- off a cliff. It must inexorably reach a point that the productive sector can no longer sustain the debt it is expected to pay. Then we will have reached the economic status of, say, Zimbabwe.
Ed talks about the outraged cry of indignation by the media over Madoff's scam and yet they refuse to apply the same standards to the Obama administration. Why should they? They have become willing accomplices in this scam of horrendous proportions. It will deal a crushing blow to the American way of life - which is - you work hard, be honest, and you will make it big. Now people will work hard to pay-off Obama's debts.

What clashes with the news media coverage of Madoff’s trial, conviction and sentencing for his crime is the studied obtuseness of the news media for the same crime being committed by the government. Madoff, you see, was “greedy” or “avaricious,” and that, according to the morality of altruism and selflessness, is immoral and antisocial. The government, however, is committing the same crime, but that is in order to “do good.” So its orgy of debt-creation, its extortionate policies of roping all Americans into a “dog-eat-dog” welfare state, and its targeting the most productive and the wealthiest in society for special punishment, are all acceptable and laudable.

Even though the news media has knowledge of this multi-trillion dollar scam, that knowledge elicits not an iota of outrage among the photogenic news anchors and highly paid print pundits. No respectable TV or print journalist even thinks of the scam in terms of a continuing and expanding bilking of Americans from their wealth, investments and taxes.
Ed goes on to examine and explain the meaning of Obama's greeting on 4th of July. It is a revealing commentary on the thought process and ideology of a man who will go down in history as the most anti-American president ever. Recent polls have put Obama's popularity at 50%. So half of all Americans are in a state of denial and it's not clear whether the other half fully realises the gravity of the situation. There are some positive signs - the tea parties being organized across America and I take solace in knowing what Samuel Adams said:
"It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men."