The Fantasy of John and Sarah
Nothing Means Anything
By ALAN FARAGO
September 5, 2008
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This is what the foundation for Florida's future rests upon: the quicksand of capital "rescue plans" from vultures and sovereign wealth funds. Yesterday, Bill Gross, manager of the world's biggest bond fund, told Bloomberg News: "The U.S. government needs to start using more of its money to support markets to stem a burgeoning "financial tsunami". (U.S. Must Buy Assets to Prevent `Tsunami,' Gross Says) Fiscal conservatives should be apoplectic.
This isn't-- as Sarah Palin, George Bush, and John McCain claim-- the "angry left" talking. I'm not sure the Republicans cheering at their national convention understand this part: that nationalization of private financial institutions is happening right now, under the supervision of the Bush administration and the shield of US taxpayers, while the party values continue to tout the "free market". Free market, to whom?
Today, the Republican spin machine is struggling to pin the socialization-- nationalization, if you will-- of Fannie Mae and Freddie Mac on someone else. How dare the Republicans accuse "liberals" for being angry about the fire sale of US assets to Asia, the Middle East, and even Russia? Filled up your car at Lukoil recently? The fact is that lefties and liberals have been no where in view, except as community organizers and neighborhood activists.
We didn't hear John McCain, last night in St. Paul, nor will Florida top donors hear Sarah Palin in Miami next week utter a solitary word of the fiscal irresponsibility that pushed the US economy into the biggest crisis since the Great Depression while making many of them a fortune in the process.
What I heard John McCain say, was that his campaign is running away from the Republican status quo lickety-split: change we can trust. What I heard was a convention full of Republican party faithful cheering against the performance and record of their own party and against the windfall profits that enriched their top donors.
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In Miami on Monday, Sarah Palin will not be aiming against "all those special interests" because all those special interests are going to be her audience.
http://www.counterpunch.org/farago09052008.html