Feb 162013

Obama silences critics like any third world dictator would…ruthlessly.

It is nothing new for despotic rulers to swiftly and ruthlessly punish their critics…it has been happening since there first were “governments” and leaders who were corrupted by the power that leadership brings with it.  Back

English: Ephesus, Diocletian's temple

English: Ephesus, Diocletian’s temple (Photo credit: Wikipedia)

during the 4th century, when the Roman Empire was near its end, having fallen victim to dictatorial leaders rather than the democracy it had been during its glory years, the emperor  issued an order intended to bring the rapidly deteriorating economy, and the rapidly spiraling wages and prices, under control.

A part of his order was that anyone on either side of the economic equation, merchant or customer, that was caught violating his edict regarding wages and prices be put to death.

This kind of repression by desperate governments to prop up failing economies, along with the concurrent draconian penalties levied for non-compliance, has been repeated over and over throughout history.  When governments see the end is near due to a failing economy, dictators always take the same path to try to stave off the inevitable end as long as possible.  Repression.  Governments…and dictators…will stop at nothing to keep the party going a little bit longer.

Obama…and his Dept of Justice…learned this lesson well

The fact…yes, fact…that the United States (and world, for that matter) economy is a shambles and on the verge of collapse is nothing new and can hardly be laid at the feet of President Obama.  While he has accelerated the decline tremendously, the overspending that has put America on the verge of economic collapse started well before he was elected.

When a country, the United States, has a debt level that exceeds 100% of the gross domestic production of its business community (GDP), and when the country is so poor that it cannot even pay the interest on its debt, much less paying anything on the debt itself,  and when the spenders, presidents and congresses, Democrats and Republicans, still continue to raise the debt level even higher, the ultimate outcome is obvious.

Emperor Diocletian’s edict and rating agency Egan-Jones

Credit rating agencies…Standard & Poors, Fitch, et al, have been complicit for years with propping up the failing economy of the United States.  Despite the unsustainable debt level, and its continued growth with no effort on the government’s part to bring it, along with the devaluation of our currency, under control, these agencies have continued to give countries and currencies, ours and others in the same boat (can you say, “Greece”?), stellar credit ratings.  They have essentially declared these countries and currencies to be free of risk, an obvious bald faced lie.

Scams, or in this case a Ponzi scheme, will last only as long as confidence in the scam is maintained.  Once the curtain is pulled back in the Land of Oz and the truth is displayed, confidence vaporizes and the scam falls apart, which is why it is critical that the government maintain the charade…with the willing assistance of the credit rating agencies.  Any dissent from this lie MUST be punished, quickly and harshly.

Finally, in mid 2011, one agency left the plantation.  In August of that year Standard and Poors downgraded the United States rating by one tiny, insignificant step…and reaction by the government was indeed quick and harsh.  Less than 2 weeks after the downgrade both the Securities and Exchange Commission (SEC) and the Justice Department announced that Standard and Poors was under investigation…a major blow to a company that relies itself on public confidence.

Another agency, the smaller, less publicly well-known Egan-Jones, was even more aggressive in having its rating reflect the truth about the government’s house of cards.  Over an 18 month period it downgraded the United States credit rating three times…and was appropriately punished.

Whether you like our corporate culture or not, whether you like the financial industry that Egan-Jones lives in or not, you must admit that in a country whose assorted agencies come up with pages and pages and pages of new regulations every day and whose Congress doesn’t think it is doing its job unless it is passing more and more laws, an individual or company cannot exist without violating a rule or breaking a law.

I wouldn’t be surprised to find that a newborn baby is a felon before the doctor can slap his butt to make him breathe because of all the rules and laws we are saddled with.

Less than 2 weeks after Egan-Jones simply told the truth the SEC initiated an administrative investigation against them, and the results of the action were announced on January 22nd.  In a settlement (which admits no guilt.  (A settlement with the government means you recognize that in out skewed legal system the entity with the deepest pockets wins, and the government has the pockets of all Americans it can pilfer to use to bludgeon anyone) Egan-Jones was banned from rating the debt of the United States government for a period of 18 months.

Let me translate that for you:  The government has banned Egan-Jones from telling the truth for a period of 18 months.

The lesson taught Egan-Jones here…and all similar agencies as well…is simple.  When the Emperor is nekkid, keep your damn mouth shut about it!  The charade MUST go on.

Oh…incidentally, all of this is happening when Congress is being told by our Emperor Obama to do away with the limits of a debt ceiling altogether, not just raise it.  That is called taxation without representation.  It caused a revolution here some 225-250 years ago.

Is it time for a Second American Revolution?


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Semi-retired North Georgia writer, blogger, boiled peanut salesman, fisherman, politician – baiter…and the best damn cook you know who doesn’t make a living at it.

Which do I enjoy the most? It’s a toss up between fishin’ and baiting politicians.


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