Yes ladies, even you must decide whether to be an American or a fascist.I have eaten my honeycomb with my honey;
I have drunk my wine with my milk.
—Song of Solomon
* * * * *
What is the point of arguing the Bush tax cuts when these have been in place for some years now, promoting "growth," and here we are. Yet our present, structural dilemma notwithstanding, Lynn Reaser, president of the National Association for Business Economics, regrettably finds this an opportune moment to reveal that, the group of economists she heads are little more than monetarists possessing no sense whatsoever about the American System of Political Economy...
As you heard at the beginning of this interview, the casino crowd is responding to Laura Tyson's op-ed in the New York Times arguing, "Why We Need a Second Stimulus." You can be certain the fear is Tyson's call for a "National Infrastructure Bank." Here, we are stepping away from the realm of "stimulus" and into the domain of lasting policy serving to return some greater measure of control to the people of the United States over finance and how this is directed toward such productive, physical investment as can be leveraged for decades to come, producing economic activity the likes of which somehow escapes the imagination of monetarists like Reaser.
Look at it this way. Creditors can maintain no stranglehold over debtors when credit has been applied toward such productive investment as easily pays principle plus a fair rate of interest. Those who argue for policy leaving intact the stranglehold creditors presently possess are advocating slavery: a facet of fascism made vogue the last time the world's financiers wrecked the place during the Great Depression.
—Tom Chechatka
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