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Jacksonian Socialism

By Al Schumann on Wednesday September 9, 2009 03:05 PM

enter PAINE hatchet raised ....

why ? read this !!!!:

"Open Letter to Congress and the Executive Branch

Amidst the debate over systemic regulation, the independence of U.S. monetary policy is at risk. We urge Congress and the Executive Branch to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability. There are three specific risks that must be contained.
First, central bank independence has been shown to be essential for controlling inflation. Sooner or later, the Fed will have to scale back its current unprecedented monetary accommodation. When the Federal Reserve judges it time to begin tightening monetary conditions, it must be allowed to do so without interference.

Second, lender of last resort decisions should not be politicized.

Finally, calls to alter the structure or personnel selection of the Federal Reserve System easily could backfire by raising inflation expectations and borrowing costs and dimming prospects for recovery. The democratic legitimacy of the Federal Reserve System is well established by its legal mandate and by the existing appointments process. Frequent communication with the public and testimony before Congress ensure Fed accountability.

If the Federal Reserve is given new responsibilities every effort must be made to avoid compromising its ability to manage monetary policy as it sees fit."

that piece of beached blubber had under it the signatures of an argos full of econ con semi notables

what a pack of sackless sycophants

for christ sake the fed should be in congressional bondage regalia by now

come on after the recent blow out

forget your average drift wood pwog like kusinich or woolsey
how can committee power in hand types like cousin barney frank


ginger cat around like he does in this interview

why he oughta order up the capital police's alpha squad car
and send it to fetch up the current talmudic looking mule of a fed chairman


and bring him before his committee " for a good public muzzle to tail harnessing "
and and post " ritual investment "
send him off
on a peremptory drag around capitol hill on the end of a mexican bull rope


back to the econ con hierophants

these geeps are scared the fed may lose its....independence ???...

christ on the fuckin half shell

"...every effort must be made to avoid compromising (the fed's) ability to manage monetary policy as it sees fit."


after sinking millions of good old hard jobbin' amerikan homeholders below the debt line ??
why ....
the house should rise as one and take back the mandate of heaven from those wall street skylarks

run the netions credit system from a desk in the House clock room

damn those pwog geese for their supine dick licking

that's not even scratchin at the toes of what obama san oughta been doin'

why i bet no more then ten minutes after this swear in ceremony
a general jackson


would have strode right over
to that temple of mammon.... "pussonally "
thrown the lot of em out like sunday morning garbage

and then challenged our dear gentle ben to a duel !!!

Comments (13)

I'm not going to pretend I understand half of the above. But I do have a question.

Why the long face, General Jackson?

(Bwa! I kill me!)


Well, that was coherent.


Okay, leaving aside the "Thought-Leader" Orwellianism surrounding the over-hyped "conference," which one of these do-gooders draws your ire, Jay? What's the matter with some earnest speechifying from folks on the righteous side of the ledger?

Al Schumann:
"In these turbulent times, social innovators in the public and private sectors, from foundations to social venture funds to development agencies to grassroots Web 2.0 activists, are working together to build a new economic foundation for the world. SOCAP09 is the premier event that puts the flow of capital to social good into a context," said SOCAP Founder Kevin Jones.

The density of the hogwash in that is breathtaking. It's got more punch than a ball peen hammer to the diaphragm. I suspect the purpose of it is the destruction of what moral sensibility remains to the great and good attendees.

"SOCAP09 is the premier event that puts the flow of capital to social good into a context"

Yeah, I'll bet it does. They've been invited to a self-congratulatory informercial. In these turbulent times, no less.

It would be funny if that was a threat. "Nice little organizations you've got there, folks. Be a real shame if something was to happen to the revenue streams..."

Al Schumann:

I'll add some context of my own.

The eleemosynary industry provides stable employment and career opportunities for some very nice people. The senior employees direct portions of those old flows of capital to change facilitators, some of whom are liberal consequentialists and some of whom are progressive deontologists. There is a very good natured debate going on between the facilitators and the senior capital flow directors. This has been playing out for several hundred million years. It may play out for several hundred million more.


The eleemosynary industry provides stable employment and career opportunities for some very nice people, who just happen to be vicious wingnuts, vengeful sociobiologists and enraged crackpots. They take issue with liberal consequentialism and progressive deontology, for money. All they want is a level playing field, one that corrects the under-representation of misanthropy and anal rape in the field of do-goodery.

While not every framework is a good framework, as liberals conceive the good, it remains nevertheless a framework, conceived by people who may be seeking their inner liberal. Can they afford to rule out the possibility? Are the misanthropists wholly lost? The great and good believe that they should really do something to address those questions. But not until the debate is concluded -- because the eleemosynary industry provides stable employment and career opportunities for some very nice people, and it ain't easy finding a job in these turbulent times.


"I'm not going to pretend I understand half of the above....Well, that was coherent"

forgive them lord
they know not what i write

Al Schumann:

Owen, cheer up. Smithee is modest and surely understands the gist of it. Stras is seeking reasons for humility. May his quest be fruitful.


OP's "narrative flow", after all this time off, is rough, his imagery stale, his over-compensating profanity, well, embarassing. . . but, his message is clear. Hail to the chief!



the dean chimes tinkle in the hot breeze

"Most people might consider it perfectly reasonable to have Congress’s auditing arm review what the Fed has done with $2 trillion of the taxpayer’s money to ensure that everything is proper. After all, we wouldn’t let other government agencies spend one millionth of this amount ($2 million) without some sort of record that could be verified.
However, the Fed and its chairman Ben Bernanke do not see it this way. Mr. Bernanke warned Congress last month that such an audit could jeopardize the Fed’s independence, which in turn: “could raise fears about future inflation, leading to higher long-term interest rates and reduced economic and financial stability.”

Did Mr. Bernanke forget about the current state of the economy and the financial collapse that he was frantically trying to head off when he warned Congress that if the Fed were less independent, it could lead to “reduced economic and financial stability”? After all, how do you get less economic and financial stability ...
Congress should not forget that it was incredible mismanagement by Bernanke and his predecessor Alan Greenspan that brought about this disaster in the first place...
Congress should not be hesitant to use more oversight than it did in past years. And it certainly should not let the Fed send $2 trillion out the door without a verifiable paper trail. "

this triggered by an audit bill ...?

does the fed want to remain a black box
for ever ??

no of course not
this is a democracy we got cookin here

and inquiring citizens need to know

the fed wants to become more transparent
and is becoming more transparent

at its own prudent pace however

not frog marched along by
the demagogue wing
of the people's House of Representatives

i won't be happy
till the fed's fomc
is run real time from
from a desk in the house cloak room



that stings

the rest is merely what cometh from
the sailing folly
of the site's father ....
the great redactor

recall its sop
for smiff to rework
my raw out put
which often contains...
demotic and commonplace variations
on our iconic swears

"stale ..."

fair enough
point to these lazy pox sir
or how can there be

My rapier-keen wit is wasted here. What are you? An audience or an oil painting?


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