Guest Post: The Ruling Elite Called

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Submitted by Jim Quinn of The Burning Platform

The Ruling Elite Called

I just got off the horn with the Ruling Elite. We had an
emergency conference call and to tell you the truth, they ain’t happy.
You little people are not responding the way you are supposed to. A
significant portion of you are not getting more optimistic because they
tell you to. Instead of just reading the headline on Bloomberg that
durable goods orders skyrocketed in June, you actually read the details
that said durable goods orders plunged. It is getting difficult for the
ruling elite to keep the masses sedated and dumbed down. These damn
bloggers, with their facts and critical thinking, are throwing a wrench
into the gears. Obama and his crack team are working round the clock to
lock down the internet, but it will take time. Not that they are
totally dissatisfied. They’ve been able to renovate their penthouses
and purchase new mansions in the Hamptons with the billions in bonuses
you supplied through TARP. The $1.2 trillion supplied by your children
and grandchildren to buy up toxic mortgages off their balances sheets
was a godsend. They will never call you suckers, to your face.

Their spirits were buoyed by the 2,600 pages DONK (Dodd/Frank)
financial reform bill. So many loopholes, so little time. Obama and his
crack team of Obamanistas in the White House, supported by their
mouthpieces in the mainstream media, have been able to easily
manipulate the non-thinking masses into believing this bill would have
stopped the last financial crash and will stop the next one. The
Ministry of Truth has been working overtime utilizing Federal Reserve
paid shill economists like Alan Blinder and Mark Zandi to perpetuate
the myth that the actions taken in the last 18 months have averted a
Depression, saved 8 million jobs, created a long-lasting recovery,
wiped out Swine Flu, and earned Paul Krugman a nobel prize in fiction.

This is where we have a problem. The worshippers of Keynes, that
rule the country, are pissed off at you. Don’t you realize that
government spending of your money, borrowed from the Chinese, with the
bill passed to your grandchildren, was supposed to reinvigorate your
animal spirits. They handed you other people’s money to buy cars and
homes and what do you do? You stop buying cars and homes as soon as
they stop paying you to buy cars and homes. You ungrateful bastards.
Bennie has been hugely successful at ruining the retirements of
millions of grandmothers by paying them .20% on their money market
accounts while forcing mortgage rates for 30 years down to 4.5%. And
still you don’t buy houses. Timmy has instructed Fannie Mae to make
home loans to anyone with a pulse who can make an X on a piece of
paper. No money down, no proof of income, no assets. Just like the good
old days. Still you don’t buy houses. What is wrong with you?

The criminal banking elite have more than bent over backwards to get
this economy humming. They have patiently stood by while you haven’t
made your mortgage payments for two years while still residing in the
house. They’ve pretended to go along with the brilliant HAMP (Home
Affordable Modification Program) plan, masterminded by the rocket
scientists in the White House. Just because virtually no one has been
able to qualify for the plan and the redefault rate is 75%, doesn’t
mean it hasn’t worked wonders for the economy. The awesome part of not
making people pay their mortgages is that they were able to make
payments on their credit cards. That allowed the mega elite banks to
pretend that consumers are flush and relieve their loan loss reserves
while not writing off the bad mortgages and reporting billions
in profits for the 2nd Quarter. It is good to be the ruling elite.

The ruling elite are letting you slide on your mortgages and you
have the gall to withdraw $20 billion from U.S. equity funds and not
buy into this fake stock rally. Don’t you realize that when the stock
market goes up, the economy follows? Everyone knows this. But, instead
you sit on the sidelines and refuse to invest in the stock market. The
super computers of the mega-banks are getting tired of trading with
each other and single-handedly making the stock market appear safe.
Just because the ruling elite have vaporized $10 trillion of your net
worth in the last two years, you hold a grudge? Remember the mantra
“Stocks For the Long Run” that the ruling elite burned into your brains
through CNBC and the rest of the shillstream media? Why are you so
suspicious of our advice. Ignore the fact that the S&P 500 today is
at the exact level it reached on March 24, 1998. They meant the really
really long term.  

Here is the message from the ruling elite to you ignorant masses: Debt got us into this mess and it sure as hell is going to get us out.
They have convinced the mainstream media that the reason the economy is
sputtering is because the average Joe is not doing their part. This
crazy concept of saving for a rainy day seems to be catching on. This
is very dangerous. Savings could lead to investment and long-term
stability. The ruling elite will have none of that foolishness. The
mainstream media is telling you that this new found austerity will push
us back into recession. The talking heads continue to pound away that
you have reduced your spending too much, when anyone with a calculator
and half a brain (Krugman doesn’t make the cut) can determine that the
decrease in consumer debt outstanding is completely the result of
write-offs by the mega elite banks. Consumers are living off their
credit cards at this point.

The military industrial complex continues to do the heavy lifting
for this economy. If they weren’t blowing up bridges, power plants and
orphanages in foreign countries and then rebuilding them at ten times
the expected cost, how would they possibly spend $895 billion per year.
It ain’t easy to waste that kind of money annually. Whenever some crazy
dude like Ron Paul questions the need to spend as much as the rest of
the world combined on the military, some potential terrorists are
captured in the nick of time and the threat level is raised to Orange
(thanks Tom Ridge). The “professional” journalists on the major
networks then do their part in this farce by spreading fear among the
general population. Rinse and repeat.

So, we now find ourselves at the edge of the abyss again. The ruling
elite have a great plan. It involves more debt, more stimulus, more
printing, more accounting fraud, more pain for the masses, and of
course more bonuses for Wall Street. If you, the little people, will
just follow this 10 step plan, the ruling elite will be just fine:

  1. Stocks are undervalued according to the same “experts” who told you
    they were undervalued in October 2007. Take out a loan and buy
    mega-banks stocks, commercial real estate developers, and bankrupt car
  2. General Motors, in a brilliant strategic coup, has bought 
    “subprime” auto loan company Americredit. What else does a
    government/union owned car company need? The fact that GMAC has lost
    $10 billion of taxpayer funds in the last year shouldn’t worry you
    about your investment in GM. If you can’t sell cars to people with no
    income, no job and no prospects for repaying the seven year 0% loan,
    who can you sell a car to. When the government pays Goldman Sachs
    millions to convince you to buy the stock of GM in its Fall IPO, ask no
    questions and just buy buy buy.
  3. Ignore the fact that Citicorp, Bank of America, and Wells Fargo
    would be declared insolvent if the FASB had not caved into threats from
    the Federal Reserve and Treasury. Just buy their stocks. Trust Wall
  4. Enough austerity already. You haven’t bought a new HDTV in six
    months. It’s like you’ve been living in a 3rd world country. If you
    have any equity left in your house, borrow against it and buy something
    big and glitzy. Make sure you show it off to your shallowest neighbors.
    They will go out and buy something bigger and glitzier on credit.
    Before you know it we have a recovery. Keynesianism 101.
  5. Stop frequenting financial blogs like Naked Capitalism, Credit
    Writedowns, Dollar Collapse, Market Oracle, 321Gold, Jesse’s Cafe
    Americain, Of Two Minds, Zero Hedge, Mike Shedlock, or Barry Ritholtz.
    These sites will just shower you with facts, analysis and truth. Watch
    CNBC, Fox, MSNBC and the other corporate media to get the ruling elite
    approved view of the world.
  6. If you are currently renting or living in your mother’s basement,
    have no job, no savings and no prospects, Fannie Mae wants to put you
    in your very own house. Mortgage payments are optional. The 50% of
    Americans that pay taxes will gladly fund your new abode.
  7. If you are approaching the 99th week of unemployment, have no fear.
    The ruling elite will use the MSM to run hundreds of sob stories about
    only two years on the dole being immoral and cruel. The White House
    will present a study from “impartial” economists that proves that
    extending unemployment benefits to 156 weeks will create or save 3
    million jobs.
  8. The stress of this recession has been too much. You need to whip
    out that credit card and book a trip to Disney World or Dollywood.
    Worry about funding that 401k sometime in the future.
  9. Unquestioningly accept the fact that Iran is an imminent threat to
    your safety and liberty. Support the obliteration of this evil nation
    based upon information provided by the CIA (WMD slamdunk) and the
  10. Lastly, call your Congressman and tell them to extend the tax cuts
    for the rich. As you have probably concluded, the ruling elite are
    rich. They don’t like paying taxes. That is why they employ thousand of
    tax lawyers. Since the expiration of the Bush tax cuts will hurt the
    ruling elite the most, a full court press of disinformation is in order.

The ruling elite expect you to comply without question. Have they ever led you astray before?