The Death of American Capitalism:

I am not at all sure these days what has become of American Capitalism. It certainly is “Not your Father’s Oldsmobile.” Today the American capitalist wants and gets huge flow of money from the American Government. This in the form of farm price supports for everything from corn to hogs. Add to this the unpardonable boon by failure to even include a clause compensating the federal government for royalty payments on oil removed from public lands. Now we are hearing a drum beat of tax reduction for the wealthy as part of the drive to extend the Bush tax cuts.

No ladies and gentlemen these are not the actions of Capitalists. These are the actions of hogs at the feeding trough; with their front paws in the feeding trough. When the federal government bailed out every single Wall Street bank including several investment banks these too became capitalists in name only. The days of JP Morgan attempting to single handedly staving off the specter of a market crash went up in a puff of smoke and like magic bankers as capitalists vanished.

Today we have large Wall Street banks that accepted truly vast amounts of taxpayer dollars throwing American citizens out of houses bought in the housing bubble financed risk free by the same federal government that bought bogus loans from these banks using Freddy Mack as a piggy bank. Enough is enough. I think it is high time for a roasting a few hogs. Firstly the inflated rate of pay for these male hogs needs to be reduced. Secondly charges need to be brought in federal court holding those responsible for the massive malfeasance accountable. Thirdly the average American citizen who suffered because of the recession and reduced market needs to be provided with bridging loans in order that their ownership rights are preserved in their homes. The funding for these loans would come from not renewing the Bush Era tax cuts.

There will be great outcry about socialism. And I expect that this outcry will come largely from the political right. What these folks fail to realize is their model of capitalism has somehow morphed into a pig grunting and squealing as he gorgeous himself on corn mash provided by the American taxpayer. Let the outcry begin because that way we will know the hogs have scattered and it only remains to capture them and then the barbeque can begin.