Eric Cantor is starting to tin foil this whole budget debate. He just mentioned that people don’t ask for their taxes to be raised. However, we know that Buffett/Munger of Berkshire Hathaway have both said that their taxes need to be raised.I don’t think this Cantor guy is the sharpest tool in the shed. I think his political sense rivals Congressman Ryan who was assigned to the bleachers after trying to take away Medicare.
Cantor has said that it should be against the law for relief emergency aid to disaster victims without making equivalent cuts in the budget elsewhere. In other words this guy is a madman. Where does the Tea Party get these guys? Ryan wants another housing bubble, and Cantor wants one too, by the way he pushes for tax protections for the rich.
Indeed that is what this is all about. The plan to tax the rich does not come with a cushy job at someplace like UBS (think Phil Gramm after the repeal of Glass-Steagall). I don’t think that Ryan has a clue that his obvious ambition is over the top, or should I say, over the cliff. The central bank wants a bubble at some point. But even Bernanke is not ready yet. Cantor is front running the central banker!
Cantor’s profanity laced video in 2009 demeaning union workers is a hateful thing. His desire to create a bubble based on the rich having too much money, with which they will churn up prices in commodities, is not patriotic. America cannot stand these easy money attacks, that seem to come with ever more frequency.
Here is my solution to the Cantors of the world:
1. Stop using the products of the banks. Boycott all real estate loans.
2. Support anyone who has the desire to build a jobs program. We have Hoover in Obama and we have worse in Cantor. We are so far right that the economy is in jeopardy. I would rather have an end to QE and a real jobs program. While military spending causes few dollars to turn over, domestic jobs spending would immediately be turned over in the community. It would be better than the QE3 that will blow oil prices beyond the tolerable.
The Republicans want inflation. I know Peter Schiff cannot see this but it is true. Easy money is inflation and the Republicans are drooling for more easy money. Schiff knows what easy money can do as he predicted the housing bubble! But he can’t see that his Republican buddies want easy money lending inflation? Hmmm.
Cantor divides the young from the old, a typical central bank ploy. He warns young people to not rely on pensions they may earn, and I suppose he even is talking about 401k’s since most companies are going to that pay system. What is his point?
He wants less regulation, which means he wants the casino banks to be free to lever up to their eyeballs. Debt is good if the banks can make money on it. That is Cantor in a nutshell.
If I thought for a moment that Cantor was against the banks and for the people, I would support him. But the truth is he postures being against the banks, but really he isn’t. He did not oppose Ryan’s massive tax breaks for the banks. His wife works for a bank that was bailed out by TARP! I didn’t hear him complain, did you?
And remember Cantor’s plan for banks to insure their mortgages? Turns out the taxpayer would have been on the hook for most of the mortgages anyway. Thanks for nothing Eric. Don’t tell us you are for the taxpayer until you free us from mortgage guarantees and securitization. You sound like a central banker more and more Eric.
Update: I ran across this great article by Charles Hugh Smith that verifies the gap in wealth that the Fed is creating with help from guys like Ryan and Cantor. They want more and more to go to the rich and it makes absolutely no sense, because the rich stuff the hedge funds that speculate with easy money loans and with juicing commodity prices. I urge you all to read the article.
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