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characters on currency

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  • Independent
    Massachusetts
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    An email came unto me. A forward of back-assward thinking that had been on the 'Net
    This one, again representing the rabid wrongness of the rights.
    Some of you may have seen it.

    First, a picture of dollar with Washington's portrait
    Next, a $5 with Lincoln.
    A $10 with Hamilton
    A 20 with Jackson
    A $50 . . Grant
    $100 . . . . .Franklin

    And then came a picture of a welfare food coupon on which Obama was smiling.

    the following was my response to the idiotic incompetence of attempted insult.


    Obama’s picture on food stamp

    Cute, but totally wrong.
    Obama was not President when the economy collapsed. His administration inherited the mess of his predecessor -- who not only drained a federal fiscal surplus of billions, but sucked the economy worse with the billions that became the deficit, all that $$$ nicely blown on the bit Iraq attack.
    Obama wasn't the President when the private-sector, major-factor, created a real estate (and other) inflation through derivatives and tranches of "bundled mortgages". Individual, regional banks were writing mortgages no matter the qualifications, for they could immediately sell the "paper" up to a larger financial institution. Agencies were getting pay-offs for triple A ratings even for "toxic" –level credit status.
    A significant amount of this lending was not for the poor, surely not a "bribe-system" of the Dems to buy the votes of the indigent (as Republicans have claimed). It was not the poor who were speculating on all those foreclosed Florida hi-rise co-ops, nor the McMansions in Vegas. Some 35% of Fannie-Mae facilitated mortgages that failed were on properties over $300,000 valuation.
    The collapse of the job market didn't take place during Obama's administration. The manufacturing sector of America had been off-shoring for decades, starting with textiles to the South and across the seas. Next, every other kind of industry went abroad for the cheap wages. The minor companies in this country were being devoured by the majors (think Walmart, Home Depot, etc.) for years, and, along with tech. companies, most of their workforce were in foreign countries.
    Mr. Bush was President before Mr. Obama. Mr. Bush provided economic incentive in the form of rebates, proportionately the greater for the wealthier. These were supposed to "spur" the economy for job growth. The "windfalls" spurred the rich to become richer, while the job market and overall economic viability got worse
    to the point that . . . . the ultimate irony . . . .
    The largest private-sector institutions, the monuments of market-driven growth . . . (all the major banking institutions, two of the nation's automakers) . . . . the very icons of Capitalism had to be bailed out of their bankruptcies by . . . the government!!!! (even Ford was fiscally bankrupt, but by putting up everything including its logo as collateral, Ford obtained private bailout financing).

    So blame Obama?
    Or maybe we should blame his naive and incompetent and ignorant financial advisers such as Warren Buffet?
    Or maybe we should realize that the economic system of the country has, inherent, cycles of inflation/boom and recession-unto-depression/bust. At least, starting with Bush's bailouts, repeat of the horrific conditions of the Great Depression were prevented. Back then, with millions unemployed, the Fed had to step in, providing some relief with WPA projects (including building dams, the Blue Ridge Highway, documenting and depicting scenes of America in murals and photo-archives, building cemetery walls, contour planting program-education in the "dust bowl", and more.
    What finally got the country back to work, though, was the war effort -- the mobilization of private industries, by order of the government and funding by the Fed, to make tanks and planes and bombs and all.
    The government had finance the recovery of the economy.
    The government, now, has to finance at least the survival of those who actually are the economy -- the people, for the jobs have gone elsewhere, those here are being "temp'd" (avoiding benefit-costs), more and more there will be robotics instead of people in the manufacturing processes, and we even have this new technology called 3D printing.

    So, the private sector, the employment realm, has offshored, automated, or alternated (from providing adequate employment/income/benefit) to temps and part-times.
    So, obviously, we aren't going to gear a war-effort, There's no actual enemy out there as there was with Hitler and Hiro Hito in WW II. Mass-manufacture of "conventional weaponry" now is almost absurd, considering that one guy with a vial of biologic agent in his briefcase (or rectum) can disembark his commercial flight, catch a cab, and pour genocide into a water supply (thus not even destroying property!!!!
    So what other option is there to provide survival for a population of perhaps more than ten million who can't find jobs? Let them starve in the streets? Let conditions lead to concentrations of desperate and enraged people and we'll add another Revolution to the French and Russian?
    Also consider that every cent some welfare recipient receives goes right back into the economy. Those on welfare or food stamps don't have savings accounts or portfolios or annuities.
    Go online to the Forbes Magazine site and survey the realm of the rich, the resources of the rich. Consider that the upper economic echelon are wallowing in luxury, so much actually provided by the government (such as subsidies,petro- and forestry leases, military funding).
    Now consider the situation of the poor who can't find employment, but at least have food and shelter and maybe even a TV and whoopie pie snack for the kid. How basic.
    Seems to me that it's a compliment, an honor to him, that Obama's picture would be on a certificate/scrip that at least enables the least of us in this country to be cared for as fellow Americans.