A report below from Greece regarding Greek and US DEBT and TRUMP statement being NOT quite accurate.
One OBVIOUS, fundamental, elementary, simple, basic, FACT, difference, between US FEDERAL and GREEK GOVERNMENT DEBT, namely, the US TREASURY AUTHORIZES MONEY PRINTED thanks to a WWI era US FEDERAL RESERVE "quasi government" institutionalized system, a PRIVATELY OWNED piggy bank, THEN, US GOVERNMENT DEBT BONDS ISSUED FOR FEDERAL MONIES "BORROWED" from THEIR Federal Reserve piggy bank whereas the Greek government can NOT do this neat, clever, little magic trick THANKS TO RELATIVELY NEWLY MINTED EURO ZONE CURRENCY over which THEY possess NO direct control!
THAT one simple FACT, difference, Trump actually points out in 2nd link, below.
That part being CORRECT.
All else said by Trump represents PROPAGANDA, garbage.
Of course, Trump does DOES NOT ITEMIZE FOR WHOM, WHICH, WHAT, PURPOSES all this nice, newly minted, currency goes in the form of stimulus, quantitative easing, CURRENCY MANIPULATION PAR EXCELLENCE, of which Trump accuses OTHER countries regarding trade imbalances
ONE GLARING FORM of STIMULUS, FOR EXAMPLE, being inflated PRIVATELY OWNED LUXURY REAL ESTATE SPECULATION, DEVELOPMENT, ASSET BUBBLE, leading to all sorts of negative social and economic consequences and 10 year LOCAL real estate tax abatements for THESE DEVELOPERS, thus, INCREASING ONEROUS AND BURDENSOME TAXES on EVERYONE ELSE, escalating economic disparaties, homelessness, deepening inequalities.
Needless to say Trump, NOR our STATE/FOUNDATION/CIA SPONSORED LOVE ME I'M LIBERAL FAKE OPPOSITION, to point out THAT particular glaring discrepancy, since he profits handsomely from PRIVATE luxury real estate, amongst other businesses owned, and, our FAKE OPPOSITION are apologists for the Administration.
Preceding policies AND MORE run rampant in DEMOCRATICALLY CONTROLLED Philadelphia hosting their Presidential Party gala celebrations in July and surely NO protests, objections, to those OR OTHER policies to MANIFEST themselves vociferously either inside or outside convention halls.
See my earlier posts for more on "Challenging Conventions."
But, much of everything else said by ALL, ANYWAY, MISSES THE MAIN POINT REGARDING MONEY, CURRENCY, ITS ROLE, VALUE, in ANY society, AND, specifically, OUR OWN, CURRENT, ECONOMIC SYSTEM.
Money has NO intrinsic worth.
It easily can and has become toilet paper in other historical contexts.
It ONLY is an accepted medium of exchange for REAL, tangible, goods, services, products, representing LABOR VALUE ADDED.
But, as a society, COLLECTIVELY, WE do and can NOT allocate natural and industrial resources where, when, how, as NEEDED, THIS BEING NOT A STATE, COMMUNAL, COLLECTIVELY OWNED, PLANNED, ECONOMIC SYSTEM, ALL natural resources and industry remain PRIVATELY OWNED, including money, thus, dependent upon competing, conflicting, contradictory economic PROFIT driven motives, decisions, COMMODIFIED stock MARKET exigencies, speculation, price fluctuation, gambling casinos, stock exchange, "special interests," expansion abroad, imperialism, mercantilism "buy cheap sell dear", colonialism, gunboat diplomacy, "lebensraum," monopoly hegemony, etc.
(As an aside, I thought Lena Wurtmuller did a FABULOUS job fictionalizing and symbolizing money and CLASS in her movie, "Swept Away.")
But, that subject matter, of course, along with the N word, OFF THE TABLE, NOT FOR DISCUSSION, VERBOTEN, HERE.
I DID in previous posts bet that Trump would NOT raise interest rates.
So be it.
And, of course, he wants to spend more CHEAP money on MILITARY hardware for PRECEDING REASONS.
Our military is NOT defensive, but, offensive, mercenaries EXPANDING, PROTECTING, PROMOTING, MARKET SHARE, PENETRATION, ASSET STRIPPING, PRIVATE APPROPRIATION OR EX-APPROPRIATION, as the case may be, and, so on.
All those nice little barbaric social antiquities, relics.
Military expenditures DO represent JOBS, but, as usual, with PRIVATELY OWNED MANUFACTURE AND military items, NATIONAL DEFENSE, the NATIONAL SECURITY STATE, those jobs and production represent GENERALLY NO added USE VALUE since most military related products are designed for death and destruction.
Not 100% true, but, a very high percentage.
Some items could and do, of course, have dual purposes.
As for Trump's "solution" suggested below about DEBT restructuring, well, spending more and declaring a debt haircut ONE OR ANOTHER way EVENTUALLY to happen, MOST LIKELY, since everybody agrees our current ASTRONOMICAL DEBT BUBBLE MUST explode or deflate, a meaningless, unpayable, number--ONEROUS DEBT.
Yes, SOME, or, MANY, people to get affected by debt discounting, but, which people in particular and how??
"People" ALREADY are affected adversely by EVERY policy made at the moment.
This being THE BASIC reason Trump has so many followers!
Our ONEROUS debt simply becomes an extension of an expanded VIRTUAL REALITY game, another superficial, superflous, artificial, ASSET BUBBLE, like COMMERCIALLY APPROPRIATED redundant electronic internet digital gadgets producing NOTHING of any real worth.
AND ALOT MORE TOXIC INDUSTRIES, BUSINESSES, including many Trump names and others he does not.
But, above were NOT AGREED upon pre-election agenda issues.
All above being dirty little OPEN secrets, best not uttered publicly aloud.
However, it is NOT just US Federal, but, an ENTIRE COUNTRY DEBT DRIVEN for much of post WWII years.
INDIVIDUALS, WAGE EARNERS, spend MORE money then they earn or save purchasing all sorts of COMMODITIES from homes, cars, education, smaller consumer goods, food, etc., with CREDIT CARDS, DEBT FINANCING, MORTGAGES, STUDENT LOANS, and so on.
(Of course, individually, they, unlike the US FEDERAL RESERVE and TREASURY, do NOT own a printing press and do/can NOT receive STIMULUS MONIES, unless they counterfeit very WELL!)
ALSO, JUST AS IMPORTANT, MANY, if not ALL, local, MUNICIPAL, STATE, CITY, governments BORROW extensively to finance their costs, ALSO issuing BONDS with INTEREST, since they have NO other way to finance expenditures EXCEPT thru ever greater taxation.
This ALL combined together represents a MORTALLY SICK, WOUNDED, INCESTUOUS, CIRCULAR, PROFOUNDLY MORTGAGED, ECONOMIC SYSTEM no matter which way one slices the cake.
Trying to unravel it one piece or a string at a time is like a proverbial elephant and blind men, each touching a point on the elephant but NOT able to piece together the information sufficient to declare IT IS AN ELEPHANT!
Or, a jigsaw puzzle with a single CLUE.
Next, I thought a nice, simple, business characterization of Republican Party upstart minor billionaire TRUMP, DAVID, versus HISTORICALLY entrenched MULTI-TRILLION dollar GOLIATH, NAZI Rockefeller CITIGROUP/EXXON/MORGAN INTERNATIONAL POWER MONOPOLY BEHEMOTH, octopus, cartel, is similar to a "Hostile Takeover."
They, above, do NOT want someone in the Presidential office whom they can and do NOT DIRECTLY own, control, influence, like their present day CIA boy Emperor and puppet AND those before him.
ALL our professional, CAREER, politicians are purchased, owned, hired, by PRIVATE CAPITAL.
Additionally, MANY THOUSANDS of LOCAL, STATE, CITY, MUNICIPAL, elected offices exist throughout the country, NOT just Federal ones.
PRIVATE CAPITAL, like NAZI lineage Rockefeller CITIGROUP/EXXON/MORGAN international cartel can NOT DIRECTLY, THEMSELVES, sit in ALL elected offices.
So, they have a cadre of CAREER politicians, front men and women, representatives, ORGANIZED INTO PARTIES, whom they FINANCE, directly and/or indirectly.
Various estimates exist depending upon which source one reads regarding numbers of ELECTED US city, county, local, state, federal, judges, officials, "dog catchers," combined.
Last number I saw was around 500,000, but, I would imagine, it could be closer to a million, maybe more.
For arguments sake, let us say one, or, a couple, million, more or less, counting EVERY single minor and major ELECTED position thruout the US.
The NATIONAL offices, of course, BEING THE MOST IMPORTANT, prestigious, especially the IMPERIAL PRESIDENCY, since HE/SHE/IT has ACCESS to intelligence information, NATIONAL SECURITY STATE APPARATUS, agencies of the NSA/NSC/CIA/STATE/DEFENSE, POLITICAL, ECONOMIC, and, FOREIGN POLICY.
ALSO, he/she/it MAKE and/or influence POLITICAL APPOINTMENTS, like, FOR EXAMPLE, FEDERAL RESERVE CHAIR and Supreme Court judges.
(Trump, by the way, indicated he would REMOVE GRANDMA YELLEN as FEDERAL RESERVE CHAIR.)
So, NATIONAL level obviously being MOST IMPORTANT and influential from THEIR perspective.
The rest being TRICKLE DOWN.
More to say, but, this little capsule will have to suffice at the moment.
To be continued at a future date.
However, before ending today's NAZI BIG Shop of Horrors latest episode, TWO REMINDERS, rejoinders, editorial commentary, something which might as well be Greek or Martian HERE:
AND, WITH LOVE ESPECIALLY TO FRANCE and THEIR CURRENT LABOR UPRISINGS: