You Are OWED A Bailout: Credit Card "Debt"

Now that people are being tossed a lifeline to prevent being evicted from their homes for the "crime" of not paying their "mortgage", it is time to extend this principle to other sectors of our economy.

Therefore, the next group of people who require bailouts are those with credit card "debt".

Say you purchased several thousand dollars worth of solar panels for your house with a Visa card, and then realized that you were not able to, in capitalist-speak, "repay" the loan. Now, whose fault is that? Not yours! After all, this transaction could not have happened without banks. And so, the only conclusion that can be drawn is that the bankers must be dragged into the streets to receive some People's Justice, and that you deserve a bailout.

Did you know that African-Americans and Latinos (and Latinas) are the most common victims of credit card aggression? That's right, this is 21st Century slavery. How about some compassion? Isn't that what your "god", Jesus KKKrist told you to do? Instead, it's just continuous racist slaps in their faces.

Well, I think it's time for Amerikkkan cowards to have that serious and frank discussion about race. And I don't care if I fall as long as someone else picks up my gun and keeps on shooting. Bastards.

Don't ever let anyone tell you that you have to "pay" for what belongs to the people. And, never forget, everything belongs to the people. You are owed everything, and retribution is required for anyone who suggests otherwise.

Fuck capitalism!

Economic Stimulus: Not Enough

The United States needs a new economic stimulus plan that pumps billions of dollars into infrastructure projects and budget relief for cash-strapped state and local governments, Democratic lawmakers said on Sunday.

This is why I, as a Capital "S" Socialist, support the Democratic party as the nearest substitute for a full-fledged people's utopia. The Democrats understand that the purpose of collecting billions of dollars of taxes is to provide "relief" for governments.

U.S. House Speaker Nancy Pelosi last week said a $150 billion economic stimulus plan was needed to help counteract a faltering economy shaken by a paralyzed banking system and steep stock market falls.

Speaker Pelosi, as a scientific socialist, sure knows her science! As the educated among you know, the purpose of a "stimulus plan" is to unparalyze banks and increase stock prices -- as intermediate steps in the evolution of capitalism's inevitable demise.

Here's how it works: When people pay taxes instead of saving money in banks, the banks shrivel and die. Hence, death replaces paralysis. Furthermore, stock prices (which represent mass opinion of future profitability) would then increase for obvious reasons. You do not agree that the reasons are obvious? Then you are an uneducable Hitler-pig who burns crosses McCain rallies.

The Congress earlier this year passed a $152 billion stimulus package that provided tax rebates of up to $600 per adult to support consumer spending at a time of rising energy and food costs. Most of that money has already been spent, and many economists say financial turmoil will squeeze the economy into recession in the fourth quarter.

"Many economists, indeed!" Here, for example is a sharp analysis from one of my favorite economists:

"Not only is Wall Street frozen, but Main Street is in real trouble. A stimulus aimed at Main Street makes sense," New York Sen. Charles Schumer told CNN.

And he continues with a particularly apt gastrointestinal metaphor, which in fact reminds me of my last night's dinner:

He said the plan should "get into the guts of the economy" by boosting spending on infrastructure such as roads, sewer and water projects.

Of course. And I'm glad that Congress realizes that a mere $152,000,000,000 was not enough taxation to fix our economy. Many economists say that $700,000,000,000 would be better. And many of my professional colleagues say that $2,000,000,000,000 would be closer to the ideal. Of course, these well-intentioned academics and people's representatives are on the right path...but...but...if spending $152,000,000,000 or spending $700,000,000,000, or $2,000,000,000,000 is such a good idea (as it most definitely is), then why not simply take over the entire economy instead?

If public works projects are so helpful (as they absolutely are), then why not simply convert every human activity into a public works project?

Left to their own devices, people are far too inexperienced to manage anything as sophisticated as an economy. That's why experts are required to do the managing, the directing, and the thinking. It's for your own good.

Change.

Cross-posted at The People's Cube

How Wall Street got rich through GREED

Everyone agrees that our financial crisis was caused by greed. Naturally, this is a correct assessment because it was formed by consensus.

But how, you ask, did greed make the Wall Street bankers so rich?

Simple. Greed drives businesses to sell things to customers who cannot afford to pay for them.

Let's look at an example:

Say you want to buy a house, and can only afford $100,000. A rich capitalist might discover this, and the following conversation would ensue:

You: I want to buy a $100,000 house because I can only afford to spend $100,000.

Capitalist: Nonsense, you can afford a $300,000 house, easily, and I can lend you enough money to make it happen.

You: There's no way I can afford a $300,000 house; I'll never have enough money to pay back that loan!

Capitalist: That's a swell haircut you have there.

You: Thank you! Of course I can afford a $300,000 house! Yes I can! Yes we can!

At this point, the capitalist lends you $300,000 -- knowing full well that the loan will never be paid off. You struggle to make payments, but you...just...can't. The greedy capitalist loaned you $300,000 and you only paid back $100,000! Need I elaborate further on how this has made capitalists rich? (And how this further oppresses the Palestinian people?)

It's my understanding that automobiles are sold the same way. Greedy auto salesmen often sell $30,000 cars to people who can only pay $10,000.

Fortunately, the government, which by its very definition cannot ever be greedy, is only asking for a mere $700,000,000,000 contribution to make us all investors in these loans.

I weep at the fairness of this.

God Damn George Bush; he created this mess.

God Damn the U.S. of KKK!

Zero-Payment Housing: A Right

Many people have been asking me, "Professor, I am not able to understand the present financial crisis. And though I am undoubtedly not bright enough to understand your explanation, I still need help. So, can you please explain it to me?"

This question is indeed burdensome, but I will reluctantly oblige.

In a nutshell, greedy capitalists are raping the working people and minorities. Again. And again. And over and over and over again. To the point where it is nearly surgically impossible to correct the damage.

Specifically, here is what happened:

Step #1: I, being a typical working person, am entitled to housing. But under our dictatorship of the dollar, I have to go to you, the blood-drinking Zionist banker, for a loan.

Step #2: In the old days, I would have had to put 20% down. So, for a $100K house, I would have had to make a $20K down payment, and the bank would lend me the remaining $80K. So, if the value of my house dropped to $90K and I stopped making payments (as is my right), the bank would seize my house, sell it for $90K, take its $80K, and return only $10K to me. That's not fair! By what right would the bank have to seize my house and not return all my money? Because I refused to make loan payments? Fuck you, bank!!

Step #3: Of course, requiring down payments is racist, so in 2004, HUD twisted the arm of Bush-Hitler to the point where it nearly broke off, and he announced the "Zero Down Payment Mortgage". That's getting much closer to a free mortgage! And it is what the working people deserve. Now I would borrow the entire $100K, and if I stopped making loan payments when the value of my house fell to $90K, the bank would seize it, and get only $90K of its $100K back! In other words, they will have lost money! Ha ha, fuck you, bank! And fuck you capitalist lenders! Fuck you, Zionist entity! For once, you're the suckers!

Step #4: As it happened, though, the bank loans were sold to the semi-governmental Fannie Mae and Freddie Mac, regardless of the loan's terms. So the banks didn't much care about losing money; they had government customers ready to buy the loans. As the banks could make money, but were reasonably insured against losing money, they made lots of loans to people who deserved such loans. However, Fannie Mae and Freddie Mac were now exposed to losing money. Well, fuck them too! Except for one thing...

Step #5: I AM ENTITLED TO LIVE IN MY HOUSE, WHETHER I PAID FOR IT OR NOT. In other words, someone had better pay the banks or Fannie Mae or Freddie Mac or someone somewhere with lots of money so that I won't have to.

And that "someone" is a government with a heart:

Barack Obama has also criticized McCain for sitting back and watching while so many American families face eviction. Yet his own proposals are more nuanced than Hillary's. They include setting up a $10 billion fund to help prevent foreclosures, cracking down on mortgage fraud, providing tax credits to low- and middle-income homeowners who don't currently itemize their interest payments, and standardizing the terms of mortgages so that potential borrowers can more easily figure out when they are being hoodwinked. Obama has also expressed support for Democratic Senator Chris Dodd's plan to expand the Federal Housing Administration's ability to refinance troubled loans.

And after the fat capitalist scum come up with the money, the people shall drag them into the streets and BEAT THEM WITHOUT MERCY. Socialism, first, last, and always.

In real life, of course, this is not true, as I obviously do not have a mortgage on my rent-controlled apartment.

Someday, we shall all be living under such control. Control is wealth. And wealth is community. And community is the world of my brothers and sisters.

I assume that this explanation was far beyond the grasp of most readers.