Keith Igoe on facebook: Anyone who has followed the over-leveraged real estate market for the last 12 years knows that the uber-investors have been waiting to cash in on the millions of credit defaults that they have engineered to explode over that time. The real estate bomb will make them trillions, but they've been thwarted in their attempts to tank the economy and cash in on a couple occasions. This current crisis is their ultimate gambit.
Charles Brown That's been my guess, Keith Igoe, though you are more specific than I. Two reason's the tea Republicans are doing the bidding of the 1% in forcing a default on the debt: 1)If the US defaults, it will be an excuse for Wall Street to raise the cost of borrowing for decades increasing 1% profits over the long run. 2) One capitalist always kills many, especially in crashes, panics and depressions, when they can buy up a lot of failing capital cheap. So, the tea Republicans have long been blocking government actions to help "the" economy; and that's because,not only were they trying to make Obama look bad, but the "one" capitalists, the corporations with the greatest concentrations of money want another recession so they can clean up on weak capitals, cutthroat competition. Another slang expression of this is "when the going gets tough, the tough get going", going to cannibalize other capitals. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
