Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
UK Coronavirus Infections and Deaths Projections Trend Forecast Into End April 2020 - 28th Mar 20
DJIA Coronavirus Stock Market Technical Trend Analysis - 27th Mar 20
US and UK Case Fatality Rate Forecast for End April 2020 - 27th Mar 20
US Stock Market Upswing Meets Employment Data - 27th Mar 20
Will the Fed Going Nuclear Help the Economy and Gold? - 27th Mar 20
What you need to know about the impact of inflation - 27th Mar 20
CoronaVirus Herd Immunity, Flattening the Curve and Case Fatality Rate Analysis - 27th Mar 20
NHS Hospitals Before Coronavirus Tsunami Hits (Sheffield), STAY INDOORS FINAL WARNING! - 27th Mar 20
CoronaVirus Curve, Stock Market Crash, and Mortgage Massacre - 27th Mar 20
Finding an Expert Car Accident Lawyer - 27th Mar 20
We Are Facing a Depression, Not a Recession - 26th Mar 20
US Housing Real Estate Market Concern - 26th Mar 20
Covid-19 Pandemic Affecting Bitcoin - 26th Mar 20
Italy Coronavirus Case Fataility Rate and Infections Trend Analysis - 26th Mar 20
Why Is Online Gambling Becoming More Popular? - 26th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock Markets CRASH! - 26th Mar 20
CoronaVirus Herd Immunity and Flattening the Curve - 25th Mar 20
Coronavirus Lesson #1 for Investors: Beware Predictions of Stock Market Bottoms - 25th Mar 20
CoronaVirus Stock Market Trend Implications - 25th Mar 20
Pandemonium in Precious Metals Market as Fear Gives Way to Command Economy - 25th Mar 20
Pandemics and Gold - 25th Mar 20
UK Coronavirus Hotspots - Cities with Highest Risks of Getting Infected - 25th Mar 20
WARNING US Coronavirus Infections and Deaths Going Ballistic! - 24th Mar 20
Coronavirus Crisis - Weeks Where Decades Happen - 24th Mar 20
Industry Trends: Online Casinos & Online Slots Game Market Analysis - 24th Mar 20
Five Amazingly High-Tech Products Just on the Market that You Should Check Out - 24th Mar 20
UK Coronavirus WARNING - Infections Trend Trajectory Worse than Italy - 24th Mar 20
Rick Rule: 'A Different Phrase for Stocks Bear Market Is Sale' - 24th Mar 20
Stock Market Minor Cycle Bounce - 24th Mar 20
Gold’s century - While stocks dominated headlines, gold quietly performed - 24th Mar 20
Big Tech Is Now On The Offensive Against The Coronavirus - 24th Mar 20
Socialism at Its Finest after Fed’s Bazooka Fails - 24th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock and Financial Markets CRASH! - 23rd Mar 20
Will Trump’s Free Cash Help the Economy and Gold Market? - 23rd Mar 20
Coronavirus Clarifies Priorities - 23rd Mar 20
Could the Coronavirus Cause the Next ‘Arab Spring’? - 23rd Mar 20
Concerned About The US Real Estate Market? Us Too! - 23rd Mar 20
Gold Stocks Peak Bleak? - 22nd Mar 20
UK Supermarkets Coronavirus Panic Buying, Empty Tesco Shelves, Stock Piling, Hoarding Preppers - 22nd Mar 20
US Coronavirus Infections and Deaths Going Ballistic as Government Start to Ramp Up Testing - 21st Mar 20
Your Investment Portfolio for the Next Decade—Fix It with the “Anti-Stock” - 21st Mar 20
CORONA HOAX: This Is Almost Completely Contrived and Here’s Proof - 21st Mar 20
Gold-Silver Ratio Tops 100; Silver Headed For Sub-$10 - 21st Mar 20
Coronavirus - Don’t Ask, Don’t Test - 21st Mar 20
Napag and Napag Trading Best Petroleum & Crude Oil Company - 21st Mar 20
UK Coronavirus Infections Trend Trajectory Worse than Italy - Government PANICs! Sterling Crashes! - 20th Mar 20
UK Critical Care Nurse Cries at Empty SuperMarket Shelves, Coronavirus Panic Buying Stockpiling - 20th Mar 20
Coronavirus Is Not an Emergency. It’s a War - 20th Mar 20
Why You Should Invest in the $5 Gold Coin - 20th Mar 20
Four Key Stock Market Questions To This Coronavirus Crisis Everyone is Asking - 20th Mar 20
Gold to Silver Ratio’s Breakout – Like a Hot Knife Through Butter - 20th Mar 20
The Coronavirus Contraction - Only Cooperation Can Defeat Impending Global Crisis - 20th Mar 20
Is This What Peak Market Fear Looks Like? - 20th Mar 20
Alessandro De Dorides - Business Consultant - 20th Mar 20
Why a Second Depression is Possible but Not Likely - 20th Mar 20
UK Coronavirus Infections Trend Trajectory Worse than Italy Government PANICs! Sterling Collapses! - 19th Mar 20
Coronavirus Market Crisis - Nowhere to Hide! - 19th Mar 20
Coronavirus Most Likely GDP Economic Outcome for Q1 and Q2 2020 - 19th Mar 20
How COVID-19 Leads to 2008-Style Bank Crisis - 19th Mar 20
Coronavirus Impact on Global Economic GDP Numbers - 19th Mar 20
Bticoin Crash Big Channel Review - 19th Mar 20
Gold is Doing Its Job…Silver Will Come Back as a Safe-Haven Asset - 19th Mar 20
The Chartology of Coronavirus Deflationary Event - 18th Mar 20
Fed Slashes Rates to Zero and Introduces QE in Response to COVID-19. Will Gold Rally Now? - 18th Mar 20
Coronavirus - Nothing to Fear but Fear Itself - 18th Mar 20
The Stocks Bear Market Is Upon Us... Or Not - 18th Mar 20
US and UK Coronavirus Containment Incompetence Resulting Catastrophic Trend Trajectories - 17th Mar 20

Market Oracle FREE Newsletter


Economic Austerity, The right to know why and for whom

Politics / Economic Austerity Jul 19, 2011 - 07:57 AM GMT

By: Michael_T_Bucci


I don't like an acquiescent democracy. And that is exactly what the American people have become: a people who stand in line, keep their mouths shut and do what they're told.

The line which Americans now stand upon leads straight to Athens. The politicians of both parties have convinced the American people that they are responsible for the deficit and rightfully are due austerity measures that have yet to be outlined or disclosed. The entire debt problem - long in gestation - was obfuscated by the media, given little if any public exposure, now its solution is presented as a fait accompli: The American people are found guilty by a secret jury and judge, a sentence of austerity is pronounced with specifics to follow. Reaction from the American people? Shock, finger-pointing, anger, confusion, paralysis, chaos, depression, escape, etc. Reaction from the people's politicians: Solid consensus about austerity, no debate on it, no alternatives, no disclosures, ongoing political theatre and charades, stonewalling, muddiness, clouding, smokescreens.

If you found a $15 trillion error on your credit card and by prior legal agreement you were obligated to pay it, what would you do? You would call and report the error. You would ask what the charges were for. You would ask who charged it. You would refuse to pay because you considered it an act of fraud. In the case of Washington putting a charge on the American people's credit card, the response should be no different. How was the money spent? Who spent it? Who authorized the expense? Are the charges legitimate or illegitimate?  Is there proof of criminal activity or fraud? Where are the audits of the Federal Reserve, and the U.S. Military? Am I obligated to pay because all politicians (of both parties) have agreed I pay? What are my rights? Where is my defense attorney?
At the Watergate hearings of 1974, Senator Howard Baker of Connecticut asked two key questions that since have lived-on. He asked: "What did the President know, and when did he know it?" At this point in 2011, before the people of the United States agree to pay off a debt placed on their credit card that they may have not charged, they need another Howard Baker to ask three questions of their leaders (the self-styled judges and jury): "Where did the Trillions go, who authorized it, and to whom is it owed?"

Do you know the answers, or do you only think you know the answers?

There is not a watcher of Europe who is not aware of the life -choking and -threatening measures imposed upon Greece by the Troika during the last year. Greece is a textbook template for what is coming to the United States via its financial warriors, and maybe later by its own military. How many Americans know the details of this subject? How much media space and time (of an elucidating, discussion and debating nature) has been devoted to explaining the generic details of "austerity" or structural adjustment programs? Who is providing a mechanism to challenge the prescription, and to challenge the doctors?

Stand in line, keep your mouth shut and do what you're told? Or, stop the game now! and lets get the answers first? So far, there is only one answer for every question asked: austerity!

Karl Rove institutionalized the "surge" tactic in politics. Write the bill, force it through Congress before any opportunity for debate, and then impose it on the people. From the Patriot Act to TARP, surges proved the most effective way to circumscribe the normal legislative process, and preempt participation by the people. Today, the surge tactic implemented for passage of austerity measures is no different, except that it will cost Americans their livelihoods, their homes, their medicine, their health, their communities, and ultimately, I maintain, their national sovereignty.

The experts from banking, finance, economics and "the market" have churned the sea with red and black numbers that do more to baffle than enlighten. The public is expected to bow to the experts as they do the doctor.
So did the Greeks.

As I have a right to refuse the doctor's prescription and walk out of the hospital, I have the right to say NO to my government until I get satisfactory answers to my questions.

If democracy is going to survive this crisis, it must now assert citizen participation, freedom of speech, tolerance of opinions, open and vigorous debate, restoration of civil liberties, right to question and inquire of Government, demand full public disclosure of this matter and others, and, if nothing else...

The people must ask three simple questions any Howard Baker would ask today: "Where did the Trillions go, who authorized it, and to whom is it owed?"

The answers to these questions will unravel all of the others. Do you know the answers? Or do you only think you know the answers?

Is this America, or are we "all Greeks now"?

(As in all matters, may the truth ultimately prevail and justice be done.)

By Michael T Bucci

Michael T Bucci is a retired public relations executive from New Jersey presently residing in New England. His essays have appeared at The Market Oracle. He is the author of nine books on practical spirituality including White Book: Cerithous.

    © 2011 Copyright Michael T Bucci - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules