FIRST, MR. ALAN GREENSPAN – IS IT TOO LITTLE TOO LATE?
* Note, this blog is a reaction to Greenspan publicly stating on 08/01/10 that “extending” the so-called “Bush Tax Cuts” (Tax Cuts for the “hounds of hell”) past 2010 was not wise, and further, history had shown that these tax cuts DO NOT pay for themselves.
I could have told you that definitively in 1981. That is a fact. I have a Masters Degree in Economics (not much to brag about I assure you) and even as a then novice, this was (a Laffer) preposterous as a real-life scenario. There are theoretical examples under narrow circumstances where this is a truism, but it is NOT, nor has it EVER been, a truism for our general economy. If you, Milton Friedman, David Stockman, and all the people you surrounded yourself with did not know this at that time then you were either STUPID, or you were participating in the BIG LIE. I suspect the latter is true, but am I really expected to believe that the kool-aid was THAT strong?
George Herbert Walker Bush, in perhaps the only time he ever stumbled upon a publicly declared truth, declared Ronald Reagan's "economic proposals": "VOODOO ECONOMICS". The truth had been uttered by a member of the BUSH family, IN PUBLIC. Catch that on tape, it perhaps was not to happen again.
Reagan delivered on his promise. Yes, Tax Cuts for the well-to-do (the “hounds-of-hell”). Boy, were we excited? All the boats were going to rise. Problem was, as it turned out, "TRICKLE DOWN" was really the beginning of "SUCK DRY". Perhaps not the same terminology I would have used, but Alan, it is exactly what I and thousands of other right-minded economists (or smart non-lying people) would have told you in 1980. But, we didn't really need to tell you that truth Alan? Because Alan, you KNEW the TRUTH?
**********
[NOTE: Prior to RR, the highest deficit ever was; Jimmy Carter in 1980: - 73.8]
Reagan Economic Deficit Results in a Nutshell:
1981 :- 79.0 * Steady as she goes.
1982 :- 128.0 * Should we worry?
1983 :- 207.8 * This is indeed worrisome.
1984 :- 185.4
1985 :- 212.3 * Oh God!
1986 :- 221.2 * What the FUCK!
1987 :- 149.7 * “Hey, we’re pretty smart. Right?)
1988 :- 155.2 * Right?
Reagan Notes: Look at those Tax Cuts for the “hounds of hell” kick in during 1982 and look at the resulting deficit explosion. Unparalleled deficit growth (and for those of you keeping score, Saint Ronnie also presided over unprecedented growth in both SPENDING and GOVERNMENT GROWTH). Myths live on don’t they?
Rough Total of Reagan Deficit Spending: -1,338.6 Trillion Dollars
**********
Bush-I Economic Deficit Results in a Nutshell:
1989 :- 152.6 * Steady as she goes?
1990 :- 221.0 * No, you are indeed DUMBASSES.
1991 :- 269.2 * Highest Ever!
1992 :- 290.3 * New Highest Ever!!
Bush-I Notes: With lingering traces of Barry Goldwater’s CONSERVATIVE words whispering in the furthest recesses of his mind(?), Bush-I realized that he had to react in a principled/prudent way to the exploding deficit, so he invoked a tiny tax hike on the “hounds of hell”. The problem is that even though this may have been a glance toward sanity, we were in the depths of insanity at this point, (a fact ALAN GREENSPAN KNEW) and this was no true medicine.
However, once granted a yard of red blood, the “hounds of hell” were not wont to have even a centimeter of bloody thread fray away. So even though he had furthered their Class-Warfare goals (whisper trickle-down) he had violated the canons of the church of GREED and he was to be expelled for it. As long as the proletariat is groveling, squabbling, tired, or otherwise distracted, the “hounds of hell” are not tolerant of meddlesome fools. Especially meddlesome fools that they feel exist only to service THEIR needs. This is a short-term game we play her fella.
Bush-I was on a hell of a roll, and he had only managed this disaster in four years time. But, give Bush-I some sympathy. RR had given him a gigantic push down the hill to HELL. And ALAN GREENSPAN KNEW it.
Rough Total of Bush-I Deficit Spending: -933.1 Billion Dollars
**********
Clinton Economic Deficit Results in a Nutshell:
1993 :- 255.1 * Coming in after these guys sucks, but hey, low expectations
1994 :- 203.2 * Gotcha Newt
1995 :- 164.0
1996 :- 107.4
1997 :- 21.9
1998 :+ 69.3 * Quick, we need a sandal
1999 :+ 125.6
2000 :+ 236.2 * Thanks Monica & Bill
Clinton Notes:
Clinton outmaneuvers Gingrich & gets a small tax increase passed for the “hounds of hell” passed in 1994. Trend Begins: Have a look!
Beginning in 1998, those numbers become positive. Some never thought it was going to happen, but it was happening. These were surpluses. These were the "gogo" nineties, and, despite the Bill Clinton tax increase that the “hounds from hell” SWORE WOULD BRING THE APOCALYPSE, no rich person was missing a mansion, a tea time, a luxury car, a yacht, or... And this is just with a minor tax increase.
We could have obliterated fiscal danger for the foreseeable future with more bold moves and a greater awareness of the looming Wall Street malfeasance at this point, but the opportunity is passed on. The BIG LIE was being shown for what it was, a LIE. And guess what? ALAN GREENSPAN KNEW all of this.
Clinton hands W a number that the liars on the right had to vainly claim was because of RR. But Alan Greenspan KNOWS that is not true. Alan Greenspan has his hands lightly holding the reins of economic policy in his hands and he KNOWS the TRUTH. Here W (the Nation) is granted the gift of a 236.2 Billion Dollar Surplus. Surpluses projected as far as the eye could see. W is granted surpluses that will take care of our grandchildren and our grandchildren's grandchildren. This country had survived the mockery of its better interests, as Republicans tried to reengage a Class-Warfare struggle (couched in shades of fake morality), and was poised for a reintroduction of the economic dynasty that had created modern prosperity for 30+ years following WWII.
Rough Total of Clinton Deficit Spending: -320.5 Billion Dollars,
BUT IT IS THAT TREND THAT COUNTS!
**********
Bush-II (W and the descent to Hell) Deficit Results in a Nutshell:
2001 :+ 128.2 * Clear Skies & the THUG GIFT of 9/11
2002 :- 157.8 * oh dear! * Patriotism
2003 :- 377.6 * gasp! * Patriotism
2004 :- 412.7 * HOLY SHIT! * Patriotism
2005 :- 318.3 * Patriotism
2006 :- 248.2 * Patriotism
2007 :- 244.2 * Patriotism
2008 :- 187.2 * When do I get to go to the Ranch?
Bush-II Notes:
W takes office in a bloodless, Activist Federal Court invoked coup d’état, with a blue dress lying on the ground, and the “hounds of hell” are unleashed.
Remind yourself that W's inherited “permanent” surplus, that '+' sign lasts ONE YEAR! I may need to repeat that: 1 FUCKING YEAR.
The “hounds-of-hell” (W as proxy) want their Class/God given tax breaks, and they want them yesterday. They are introduced as law in 2001 despite the fact that they are an historically proven fiscal disaster and despite the fact that ALAN GREENSPAN KNOWS they are wrong.
Bush sits frozen in fear for 7 minutes on 09/11/2001. Andy Card is imploring him to at least APPEAR Presidential. W is not up to the task. He is whisked away and hidden for several days while the “hounds of hell” devise a marketing strategery.
“Wars on Terror” never end. They are the gifts that never stop giving. If you are a “hound from hell”, you have the world at your beck and call. You can ask for anything, even if ALAN GREENSPAN KNOWS its wrong.
W tells us "Wars on Terror" are different. You can't keep them track of them in your regular budget. Somehow that is unpatriotic. In fact, almost anything anyone does or says that does not go along with the White House is considered unpatriotic. Remember, it was White House Press Secretary Ari Fleischer, warning Americans on Sep 26, 2001 to "watch what they say, watch what they do." Representative Michele Bachmann of Minnesota on 10/18/2008 says, “that the news media should do a penetrating expose and take a look. I wish they would. I wish the American media would take a great look at the views of the people in Congress and find out, are they pro-America or anti-America? I think people would love to see an expose like that.” PATRIOTISM!
Rough Total of W Deficit Spending: -1817.8 Trillion Dollars (unprecedented)
ALAN GREENSPAN KNEW that this horrifying deficit was dependent upon those Tax Cuts. He KNEW that having those Tax Cuts was WRONG. He knew that the actual deficit was vastly and purposely unreported. You must remember, we were told; the trillions patriotically spent prosecuting the “War on Terror” unselfishly on our behalf must be “tracked” fiscally, “off-book”.
**********
At this stage Barak becomes the President and he initiates the termination of keeping a double set of books. In other words, the trillions in allocations for the "War on Terror" are no longer to be kept in the mythical place known as "off-book" land. They must come home to roost on the real ledger sheet and display their hideousness for any that dare to gaze upon them. This, however, is no time for economic/deficit self-assessment by the rebranded “hounds of hell”. They may still dash off the moniker Republican, but they are now: "Re Pug Thug Tea Lycans". No, to them (those that seek victory in Class-Warfare, not in the health of our Nation), this is an opportunity to distract and point fingers at the man, (the BLACK MAN) whose deficit figures are worse than theirs.
If these figures don't shake you, then…? If 2+2 does not equal 4 to you, then…? If you believe that Barak was born n Kenya or take political gain knowing that others do, then you are is NOT a PATRIOT. What you are is a different form of terrorist. A "Re Pug Thug Tea Lycan” is just another bullying terrorist. I'll take Osama any day. You knew where he stood. These terrorists don't just believe the BIG LIE, they are the BIG LIE. So, don't dislodge that Flag Pin while you’re getting all misty during your recitation of the Pledge of Allegiance "Re Pug Thug Tea Lycans". Don’t bother; we are on to your act.
Seek the teachings and sentiment of the Golden Rule. Perhaps salvation is available to a “hound of hell” that reaches for it. One can only hope.
So Alan, what to do with you? You come on “Meet the Press” and make these measured statements. You are seeking the mantle of respectability publicly, but I sense inside that you are seeking redemption from your sin. Well, that is a narrow fence to walk Mr. Greenspan, and I don’t care to offer you unchallenged the public forum you have taken to reestablish your genuineness and your bona fides. You have wronged this nation by accommodating the myth of the Reagan/Bush Tax Cut Growth LIE. It shouldn’t just be allowed to pass.
It is war reparations time Mr. Greenspan, and before you pass from this planet, you should pound the lectern and proclaim the real truth that this tax deserves not just expiration, but a DRASTIC INCREASE. Gasp away "Re Pug Thug Tea Lycans", your destruction of our country has run its course. We refuse to die without a fight. Mr. Greenspan. Get off the fence. Apologize! Act! Align yourself with Mr. Paul Krugmann perhaps. Ms. Elizabeth Warren perhaps.
Whatever it takes Mr. Greenspan, but the time has come for a RETURN to wise foreign and fiscal policy. They are really two-sides of the coin. Accomplishments need to include:
1) A Progressive Tax Code based on the proven model of the Eisenhower years.
2) Lock Solid Corporate Crime Codes that are ENFORCED.
3) The shattering of the CRIME FAMILY that is the “Military Industrial Complex/Consulting” revolving door.
4) A similar shattering of the “Capitol Hill/Consulting” firm revolving door.
5) Multi-Nationals must operate for our country, and if so contracted, are under strict guidelines and the full control of our laws and courts.
The list goes on Mr. Alan Greenspan. Perhaps the Golden Rule will let you play some “catch-up” ball. We can hope so. You can hope so.
* Note, this blog is a reaction to Greenspan publicly stating on 08/01/10 that “extending” the so-called “Bush Tax Cuts” (Tax Cuts for the “hounds of hell”) past 2010 was not wise, and further, history had shown that these tax cuts DO NOT pay for themselves.
I could have told you that definitively in 1981. That is a fact. I have a Masters Degree in Economics (not much to brag about I assure you) and even as a then novice, this was (a Laffer) preposterous as a real-life scenario. There are theoretical examples under narrow circumstances where this is a truism, but it is NOT, nor has it EVER been, a truism for our general economy. If you, Milton Friedman, David Stockman, and all the people you surrounded yourself with did not know this at that time then you were either STUPID, or you were participating in the BIG LIE. I suspect the latter is true, but am I really expected to believe that the kool-aid was THAT strong?
George Herbert Walker Bush, in perhaps the only time he ever stumbled upon a publicly declared truth, declared Ronald Reagan's "economic proposals": "VOODOO ECONOMICS". The truth had been uttered by a member of the BUSH family, IN PUBLIC. Catch that on tape, it perhaps was not to happen again.
Reagan delivered on his promise. Yes, Tax Cuts for the well-to-do (the “hounds-of-hell”). Boy, were we excited? All the boats were going to rise. Problem was, as it turned out, "TRICKLE DOWN" was really the beginning of "SUCK DRY". Perhaps not the same terminology I would have used, but Alan, it is exactly what I and thousands of other right-minded economists (or smart non-lying people) would have told you in 1980. But, we didn't really need to tell you that truth Alan? Because Alan, you KNEW the TRUTH?
**********
[NOTE: Prior to RR, the highest deficit ever was; Jimmy Carter in 1980: - 73.8]
Reagan Economic Deficit Results in a Nutshell:
1981 :- 79.0 * Steady as she goes.
1982 :- 128.0 * Should we worry?
1983 :- 207.8 * This is indeed worrisome.
1984 :- 185.4
1985 :- 212.3 * Oh God!
1986 :- 221.2 * What the FUCK!
1987 :- 149.7 * “Hey, we’re pretty smart. Right?)
1988 :- 155.2 * Right?
Reagan Notes: Look at those Tax Cuts for the “hounds of hell” kick in during 1982 and look at the resulting deficit explosion. Unparalleled deficit growth (and for those of you keeping score, Saint Ronnie also presided over unprecedented growth in both SPENDING and GOVERNMENT GROWTH). Myths live on don’t they?
Rough Total of Reagan Deficit Spending: -1,338.6 Trillion Dollars
**********
Bush-I Economic Deficit Results in a Nutshell:
1989 :- 152.6 * Steady as she goes?
1990 :- 221.0 * No, you are indeed DUMBASSES.
1991 :- 269.2 * Highest Ever!
1992 :- 290.3 * New Highest Ever!!
Bush-I Notes: With lingering traces of Barry Goldwater’s CONSERVATIVE words whispering in the furthest recesses of his mind(?), Bush-I realized that he had to react in a principled/prudent way to the exploding deficit, so he invoked a tiny tax hike on the “hounds of hell”. The problem is that even though this may have been a glance toward sanity, we were in the depths of insanity at this point, (a fact ALAN GREENSPAN KNEW) and this was no true medicine.
However, once granted a yard of red blood, the “hounds of hell” were not wont to have even a centimeter of bloody thread fray away. So even though he had furthered their Class-Warfare goals (whisper trickle-down) he had violated the canons of the church of GREED and he was to be expelled for it. As long as the proletariat is groveling, squabbling, tired, or otherwise distracted, the “hounds of hell” are not tolerant of meddlesome fools. Especially meddlesome fools that they feel exist only to service THEIR needs. This is a short-term game we play her fella.
Bush-I was on a hell of a roll, and he had only managed this disaster in four years time. But, give Bush-I some sympathy. RR had given him a gigantic push down the hill to HELL. And ALAN GREENSPAN KNEW it.
Rough Total of Bush-I Deficit Spending: -933.1 Billion Dollars
**********
Clinton Economic Deficit Results in a Nutshell:
1993 :- 255.1 * Coming in after these guys sucks, but hey, low expectations
1994 :- 203.2 * Gotcha Newt
1995 :- 164.0
1996 :- 107.4
1997 :- 21.9
1998 :+ 69.3 * Quick, we need a sandal
1999 :+ 125.6
2000 :+ 236.2 * Thanks Monica & Bill
Clinton Notes:
Clinton outmaneuvers Gingrich & gets a small tax increase passed for the “hounds of hell” passed in 1994. Trend Begins: Have a look!
Beginning in 1998, those numbers become positive. Some never thought it was going to happen, but it was happening. These were surpluses. These were the "gogo" nineties, and, despite the Bill Clinton tax increase that the “hounds from hell” SWORE WOULD BRING THE APOCALYPSE, no rich person was missing a mansion, a tea time, a luxury car, a yacht, or... And this is just with a minor tax increase.
We could have obliterated fiscal danger for the foreseeable future with more bold moves and a greater awareness of the looming Wall Street malfeasance at this point, but the opportunity is passed on. The BIG LIE was being shown for what it was, a LIE. And guess what? ALAN GREENSPAN KNEW all of this.
Clinton hands W a number that the liars on the right had to vainly claim was because of RR. But Alan Greenspan KNOWS that is not true. Alan Greenspan has his hands lightly holding the reins of economic policy in his hands and he KNOWS the TRUTH. Here W (the Nation) is granted the gift of a 236.2 Billion Dollar Surplus. Surpluses projected as far as the eye could see. W is granted surpluses that will take care of our grandchildren and our grandchildren's grandchildren. This country had survived the mockery of its better interests, as Republicans tried to reengage a Class-Warfare struggle (couched in shades of fake morality), and was poised for a reintroduction of the economic dynasty that had created modern prosperity for 30+ years following WWII.
Rough Total of Clinton Deficit Spending: -320.5 Billion Dollars,
BUT IT IS THAT TREND THAT COUNTS!
**********
Bush-II (W and the descent to Hell) Deficit Results in a Nutshell:
2001 :+ 128.2 * Clear Skies & the THUG GIFT of 9/11
2002 :- 157.8 * oh dear! * Patriotism
2003 :- 377.6 * gasp! * Patriotism
2004 :- 412.7 * HOLY SHIT! * Patriotism
2005 :- 318.3 * Patriotism
2006 :- 248.2 * Patriotism
2007 :- 244.2 * Patriotism
2008 :- 187.2 * When do I get to go to the Ranch?
Bush-II Notes:
W takes office in a bloodless, Activist Federal Court invoked coup d’état, with a blue dress lying on the ground, and the “hounds of hell” are unleashed.
Remind yourself that W's inherited “permanent” surplus, that '+' sign lasts ONE YEAR! I may need to repeat that: 1 FUCKING YEAR.
The “hounds-of-hell” (W as proxy) want their Class/God given tax breaks, and they want them yesterday. They are introduced as law in 2001 despite the fact that they are an historically proven fiscal disaster and despite the fact that ALAN GREENSPAN KNOWS they are wrong.
Bush sits frozen in fear for 7 minutes on 09/11/2001. Andy Card is imploring him to at least APPEAR Presidential. W is not up to the task. He is whisked away and hidden for several days while the “hounds of hell” devise a marketing strategery.
“Wars on Terror” never end. They are the gifts that never stop giving. If you are a “hound from hell”, you have the world at your beck and call. You can ask for anything, even if ALAN GREENSPAN KNOWS its wrong.
W tells us "Wars on Terror" are different. You can't keep them track of them in your regular budget. Somehow that is unpatriotic. In fact, almost anything anyone does or says that does not go along with the White House is considered unpatriotic. Remember, it was White House Press Secretary Ari Fleischer, warning Americans on Sep 26, 2001 to "watch what they say, watch what they do." Representative Michele Bachmann of Minnesota on 10/18/2008 says, “that the news media should do a penetrating expose and take a look. I wish they would. I wish the American media would take a great look at the views of the people in Congress and find out, are they pro-America or anti-America? I think people would love to see an expose like that.” PATRIOTISM!
Rough Total of W Deficit Spending: -1817.8 Trillion Dollars (unprecedented)
ALAN GREENSPAN KNEW that this horrifying deficit was dependent upon those Tax Cuts. He KNEW that having those Tax Cuts was WRONG. He knew that the actual deficit was vastly and purposely unreported. You must remember, we were told; the trillions patriotically spent prosecuting the “War on Terror” unselfishly on our behalf must be “tracked” fiscally, “off-book”.
**********
At this stage Barak becomes the President and he initiates the termination of keeping a double set of books. In other words, the trillions in allocations for the "War on Terror" are no longer to be kept in the mythical place known as "off-book" land. They must come home to roost on the real ledger sheet and display their hideousness for any that dare to gaze upon them. This, however, is no time for economic/deficit self-assessment by the rebranded “hounds of hell”. They may still dash off the moniker Republican, but they are now: "Re Pug Thug Tea Lycans". No, to them (those that seek victory in Class-Warfare, not in the health of our Nation), this is an opportunity to distract and point fingers at the man, (the BLACK MAN) whose deficit figures are worse than theirs.
If these figures don't shake you, then…? If 2+2 does not equal 4 to you, then…? If you believe that Barak was born n Kenya or take political gain knowing that others do, then you are is NOT a PATRIOT. What you are is a different form of terrorist. A "Re Pug Thug Tea Lycan” is just another bullying terrorist. I'll take Osama any day. You knew where he stood. These terrorists don't just believe the BIG LIE, they are the BIG LIE. So, don't dislodge that Flag Pin while you’re getting all misty during your recitation of the Pledge of Allegiance "Re Pug Thug Tea Lycans". Don’t bother; we are on to your act.
Seek the teachings and sentiment of the Golden Rule. Perhaps salvation is available to a “hound of hell” that reaches for it. One can only hope.
So Alan, what to do with you? You come on “Meet the Press” and make these measured statements. You are seeking the mantle of respectability publicly, but I sense inside that you are seeking redemption from your sin. Well, that is a narrow fence to walk Mr. Greenspan, and I don’t care to offer you unchallenged the public forum you have taken to reestablish your genuineness and your bona fides. You have wronged this nation by accommodating the myth of the Reagan/Bush Tax Cut Growth LIE. It shouldn’t just be allowed to pass.
It is war reparations time Mr. Greenspan, and before you pass from this planet, you should pound the lectern and proclaim the real truth that this tax deserves not just expiration, but a DRASTIC INCREASE. Gasp away "Re Pug Thug Tea Lycans", your destruction of our country has run its course. We refuse to die without a fight. Mr. Greenspan. Get off the fence. Apologize! Act! Align yourself with Mr. Paul Krugmann perhaps. Ms. Elizabeth Warren perhaps.
Whatever it takes Mr. Greenspan, but the time has come for a RETURN to wise foreign and fiscal policy. They are really two-sides of the coin. Accomplishments need to include:
1) A Progressive Tax Code based on the proven model of the Eisenhower years.
2) Lock Solid Corporate Crime Codes that are ENFORCED.
3) The shattering of the CRIME FAMILY that is the “Military Industrial Complex/Consulting” revolving door.
4) A similar shattering of the “Capitol Hill/Consulting” firm revolving door.
5) Multi-Nationals must operate for our country, and if so contracted, are under strict guidelines and the full control of our laws and courts.
The list goes on Mr. Alan Greenspan. Perhaps the Golden Rule will let you play some “catch-up” ball. We can hope so. You can hope so.
RSS Feed