Today’s opinion pieces largely Herald the rise of the Dow Jones Industrial Average and the inflation of stock prices. The stock market continues to rise even as unemployment climbs to new highs. 30 million Americans are unemployed though many opinion writers suggest that the unemployment is temporary and that fundamental aspects of the economy, as measured by the Dow Jones Industrial Average and other indices, are still in good shape. This could NOT be further from the truth.
While the stock market Rises Street, economies across the United States and World are getting hit hard. They are being hit quite possibly in the hardest way that any economy has ever been hit before, like a Muhammad Ali Right cross.
What is occurring before our eyes is the exact same scenario that occurred during ’08-09 when the world’s financial markets became embroiled in panic and a credit Market freeze. Somehow the United States Congress has decided that replaying the ’08-09 economic Playbook is the best course of action. It is an impossible decision because lives are on the line. However, the financial bail-outs to support the pandemic may not work. If they do not work, US Congress will be entirely discredited, as their approval ratings already hang in the balance with the American public.
It is worth evaluating the failures of the bailouts of ’08-09. The failures of the bailout were moral, political, economic, and social. The argument for the success of the bailout typically suggests that it was a worst case scenario where the United States Congress and the administration had to act.
What was the true cost of the bailouts?
The true cost of the bailouts took year to manifest. They include foremost a revolutionary socialist movement beginning in New York under the mask of the Occupy Wall Street protest movement, a complete delegitimization of the World’s Financial system and Order, and the evisceration of Main Street and household wealth.
The pandemic has caused a larger Financial mess including problems that were exacerbated post 2008 in ways that the economy may never recover. The only viable path forward is the wholesale Re-construction of the worlds economic order including world financial institutions ranging from the International Monetary Fund to the World Trade Organization, and a complete re-evaluation of how we interpret household wealth include Equity asset ownership that allows for households to build long-term intergenerational wealth.
The death nail in the current world financial system and economic order is a horrifying reality if the current bailout fails. In this scenario, not only will the United States lose its position as de facto Global leader, but the protest movement which has now been funded for decades will gain traction in the United States and abroad. Unfortunately, that socialist protest movement will not look like sweet-faced Alexandria Ocasio-Cortez. The protest movement will be co-opted by the neatly manicured alternative- right National Socialist.
Who will they choose as scapegoats?
The New National Socialist, likely under a different logo and name, will still have it scapegoat. Who will that scapegoat be it is yet to be determined. For those who for decades have rightfully stood up against the horrors of World War II and those horrors perpetrated against the Jewish people, they must be more vigilant and begin defending the new scapegoat. That scapegoat could be a combination of ethnic and minority interest, or even those with financial means.
The only constructive scapegoat is the obsolete existing Financial order. The scapegoat cannot be politicians, Jews, or those with means who have succeeded in the previous Financial order. The only scapegoat must be the system itself. We must positively channel the rage everybody feels right now constructively, the rage that we feel as we have lost loved ones during the pandemic, or because we have lost our savings now or when the financial crisis fully hits.
We are entering into potentially the most dangerous and challenging period of time in all of human history. We are standing before a large tidal wave coming for everybody, but everybody is too close to the Shoreline to avoid run.
Now is the time for courage and strength and to confront this global economic crisis as ONE people UNITED in one common mission, the Renovation of the world’s economy.