After an election where Tea Partiers were elected not because the Federal Income Tax is illegal (which is the reason the party was originally started) but because deficits are too big (Jimi says, "No shit."), what does the Government do? Extent unemployment and cut taxes. Now it is not that I am against either, I am simply pointing out that, once again, the fascists running the US care not what mandates their electors demand, but only what they think is in the best interest of the "country".
Unfortunately, this country is run as a corporation, and it is in the interest of the Board Members to act accordingly. The voting body lets the blood run from their sacrifices on the Hill, and into private coffers. That means starting wars and not giving the soldiers proper medical care. That means firing workers to maintain low cost levels. That means having the taxpayers (who act as the consumer) pay for extra expenses. Whatever it takes to maintain the corporate cash flow will be done.
Yet like any corrupt and bankrupt company, there are signs emerging that the US has lost control. Blackhawk Bernanke made that clear last night when he said he was "100%" sure his theories will work, and then reminded the audience that he could raise rates anytime he wanted. Obviously it is idiotic to suggest that a plan is full proof, but more importantly, it is a flat out lie that he could raise interest rates at the drop of a hat. The conditions have to be just right for that, and the main is a smaller deficit. The reason is simple: the interest on the debt must be cost effective. If the rates were raised even marginally, the interest on the debt would be insurmountable, bankrupting the US instantly.
Nothing against Keynes but Bernanke is bullying his theories. If Keynes had a last friend, that friend stole his cookies and ran away. Spending now in theory may have worked if the US had saved, but save they had not. Keynesianism should have been thrown out years ago. Too bad now the Chairman of the Federal Reserve Bank has tied his hands behind his back while still talking the fight. Dude is gonna get punched in da moaff.