America on the brink of a Second Revolution
Quote:Admit it, something historic is brewing. And yes, it’s good for America, even the anarchy. Revolution is renewal. Tea-baggers want to take on both parties, “restore honor” and “take back the country.”

Tea-baggers are kicking the revolution into high gear. Debt is sinking America. Both parties are to blame. So vote out incumbents. Spare no one. We need new leadership, another Reagan or Truman. Congress better get the message: Cut that budget, or they’ll dump the rest of you in the coming Great Purge of 2012.

Warning: Another revolution will cost investors 20% more losses

Yes, big warning, the Second American Revolution will extract painful austerity, not the “happy days are here again” future touted by tea-baggers. For years it’ll be impossible for most of America’s 95 million investors to develop a successful investment or logical retirement strategy.

Here’s the timeline:

Stage 1: The Dems just put the nail in their coffin by confirming they are wimps, refusing to force the GOP to filibuster the Bush tax cuts for America’s richest.

Stage 2: The GOP takes over the House, expanding its war to destroy Obama with its new policy of “complete gridlock,” even “shutting down government.”

Stage 3: Obama goes lame-duck.

Stage 4: The GOP wins back the White House and Senate in 2012. Health care returns to insurers. Free market financial deregulation returns.

Stage 5: Under the new president, Wall Street’s insatiable greed triggers the catastrophic third meltdown of the 21st century Shiller predicted, with defaults on dollar-denominated debt.

Stage 6: The Second American Revolution explodes into a brutal full-scale class war rebelling against the out-of-touch, out-of-control greedy conspiracy-of-the-rich now running America.

Stage 7: Domestic class warfare is compounded by Pentagon’s prediction that by 2020 “an ancient pattern of desperate, all-out wars over food, water, and energy supplies would emerge” worldwide and “warfare is defining human life.”

1. Expect nothing positive from Dems, the GOP or Tea Party

Yes, we’re all “justifiably ticked off.” But “Democrats, Republicans, and yes the Tea Party offer little that is encouraging.” Earlier Morici warned: “Democratic capitalism is in eclipse. … Politicians have deceived voters,” and are “suffering from delusions of grandeur, self deception and good old-fashioned abuse.”

2. Democracy has become too-big-to-govern … by anyone

“The current economic quagmire is a bipartisan creation.” Bush failures led to a “Great Recession … reckless Wall Street pay and fraud, a breakdown in sound lending standards by Fannie Mae, Freddie Mac … Countrywide, and a huge trade deficit with China and on oil” leaving “Beijing and Middle East royals with trillions of U.S. dollars that they invested foolishly” in bonds “financing the housing and commercial real estate bubbles.”

3. Clinton, Bush, Obama policies all feeding revolutionary flames

Even before Bush, “all was set in motion by bank deregulation engineered by Clinton … Secretaries Robert Rubin and Lawrence Summers … Clinton’s deal to admit China into the World Trade Organization” handed “China free access to U.S. markets” while blocking exports. Earlier Dems blocked “domestic oil and gas development” and froze “auto mileage standards.” Obama “finally imposed higher mileage requirements,” but after pushing offshore drilling, he “punished the entire petroleum industry” for the BP disaster.

4. Bush’s biggest mistake: Goldman CEO Hank Paulson

Morici admits: If Bush is “culpable for anything, it was to not see the gathering storm on Wall Street.” Worse, his Treasury picks were disasters: [John] Snow was clueless, Paulson devious. He conned a clueless Congress into bailout trillions, “believing banks could borrow at 3% and lend at 5 and pay MBAs three years out of school five-million-dollar bonuses to create mortgage backed securities.” Greed drove the Bush Treasury.

5. All partisan political leaders are destined to sabotage America

One thing is clear to Morici: Not only were America’s leaders a “bunch of second-rate incompetents” on both the Clinton and Bush teams, “Obama’s ratcheting up government spending and taxes won’t fix what’s broke, and neither will the GOP prescription of tax cuts and deregulation.” Get it? Democracy is in a classic double-bind, no-win scenario.

6. America’s democratic capitalism trapped in systemic failure

Morici simply dismisses “Obama’s two signature initiatives -- health-care reform and financial services reregulation.” They “simply don’t work.” Why? Politicians “failed to address the root problem, Americans pay 50% more for doctors, hospitals and drugs, than subscribers to national health plans in Germany, France and other decadent socialist European countries.” Yet, insurers hate reform, will self-destruct America first.

7. Wall Street’s insatiable greed is a virus that never sleeps

Wall Street banks are “back to their old tricks,” warns Morici, “hustling municipal governments into the kind of quick-fix budget schemes, like selling parking meters and airport fees.” Why? Wall Street’s “hustling shoddy corporate bonds that lack adequate collateral and may never be repaid” to justify their absurd mega-bonuses. And they’ll keep doing it till the revolution creates a new non-capitalist banking system.

8. New political leaders offer no hope -- Wall Street rules America

GOP’s next leaders will fail: “Cutting taxes and mindless deregulation are not the answer.” We need the revenue. They have no real plan to trim “$1 trillion from federal spending … few believe deregulation will fix health care or Wall Street.” The GOP has no “effective government solutions to health care, Wall Street, fixing trade with China, and dependence on foreign oil.” And the Tea Party “only offers a purer form of failed Republicanism. Tax and spend less, and turn the country over to the robber barons.”

9. Praying for a messiah, we’re sleepwalking till the revolution

Morici’s solution: America “needs a prophet, another Harry Truman or Ronald Reagan.” But we’ll never get one, until a catastrophe hits. Wall Street’s so greedy, so corrupt, so untouchable, so much in control, they will bankroll and control all future “prophets.”

10. The Second American Revolution coming

Yes, extreme austerity: “Americans must accept fewer government-paid benefits -- for the rich, the poor and those in between -- and must acknowledge the market works best most of the time, but it is not working in health care, banking, China, and oil.” Huh? Sounds like classic economist’s double-speak: “The market works most of the time” … except the market doesn’t work at all in the four biggest economic sectors? Fuzzy thinking?

Morici warns, we need “new approaches to regulating, yes regulating, what the medical industry charges, bankers pay themselves, what Americans tolerate and buy” and “guiding big oil and car companies to sustainable solutions.”

http://www.marketwatch.com/story/america-o...28?pagenumber=1



John

there won't be another revolution....china won't allow it.

A predication of an event in 2020? Lots of doomsday predictions between now and then. If the other hold true who will be around to know if this one is right?

hey, unionize the military and send them off to kill them wall street and government bastards

It's gonna be a wild ride to the bottom, that's for sure...

My Mayan Calendar says "No"

All the Gov has to do is hand out free McDonald's coupons and everyone will forget about what they were upset about...

In a word..."No".

People are all talk and too lazy. No one wants to organize because no one wants to follow and not have their name in the limelight. "What's in it for me?" Sometimes you have to live with the satisfaction of knowing you were simply a part of something bigger than yourself and made a difference. People now a days are only motivated by self glorification and self reward.

I do not see the Republicans taking back the country as a revolution. It's just a shift from one side of the spectrum to the other and once again, the 80-90% of Americans left in the middle are left out.

A revolution in this country would require violence, militia, coops, factions...Americans would be taking up arms against Americans and a civil war would have to be declared. New leaders would have to rise to power and people would have to learn to follow and not self serve.

To reestablish what we all talk about here in America would require this level of violence and the establishment of a dictator for some number of years before the reestablishment of a government of the people...by the people...for the people. Americans have a short memory and would have to have freedoms taken for a period of time so that once they get it back, they would appreciate it and would have learned not to take it for granted. A dictator would also have to have power over Congress to stop the corruption and special interest to rebase the system and focus back to the people.

Why would a revolution require a dictator? Why not a simple abolishment of the republic? Common currency like the EU? Why does it require a civil war? Seems to me it will only require a one state breakaway from the republic. The rest will follow.

ME after reading this:

Well, yes and no.... I will give my personal opinions here, which in the great scheme of things mean nothing at all.

I do not believe there would be a peaceful way to break away from the .gov. There are laws against just that sort of thing as was discovered by the fine folks of the American South 150 years ago.

I do not believe a candidate who actually has the smarts and conviction to take the steps that would be required for change would be able to get the backing to even get on the ballot.

The people who have the power will not be willing to just abdicate their power either. Look at the folks at CARB and a multitude of other state agencies who are fighting to show how valuable they are. The state senators and congressmen love the status quo, because it is just they way they set it up.

Anything we the plebes would like to change will be an uphill battle with every single deck stacked against us. Anything that we would like to have changed, there already are, or soon will be laws against doing just that. Look at what happened with the big 'taxpayer revolt' in Washington State a few years ago. Look at what is happening now when the states are trying to tel .gov that they do not want the healthcare reform.

It aint looking good.

John

The Antichrist is alive and waiting to step in..............hold on to your Azz

Damn. What commie email list did you get on?!

gd.com... why you ask??

All I know is that when the revolution happens my commie friend told me she's going to invade my apartment and lay claim to it. I think if there's a revolution that means I have to kill her.

Why would one Commie kill another Commie?








Seriously, there won't be a revolution. The scales have tipped too far. The middle class has all but disappeared, and has been replaced by the banking rich, who will do anything for a profit, including bankrupt an entire country; and the semi-illiterate poor, who are now almost completely dependent on the gov't for their welfare checks. The first group will gain nothing from a revolution, the latter will lose everything. We are screwed.




On the plus side, I just saved a ton of money on my car insurance.

i've never seen such a doomsday fearing forum as this one.

its been like this since day one and its getting worse.

how many times in the past have i posted "the sky is falling, the sky is falling"?

geez, lighten up. enjoy your kids. take them to the park, share an ice cream with them. hold your wife's hand. tell her you love her.

oh, then stock up.....the end is near!!!!!!!!!

ohh, and dont forget to go use whats left of your HELOC while you still have it, and help the economy by buying some new sand toys

Why? Because I like my place, has everything I want except RV storage and room for a spa...easier to sit on my duff and kill the invaders than go conquer one of the neighbors with an oceanfront spot.

Otherwise, pretty much an astute observation. As I grow up what little faith in humanity I had slips away...

Now imagine what your view will be like at 50.


I'm already there.

Funny, or I mean not so funny thing is, it doesn't matter if we vote out the democrats now and then in 2012 vote out the incumbents that are left that we didn't get out in 2010, nothing will change, the banksters still run the show. Our governmen tis composed of a bunch of puppets who do what the elite pay them to do. They tax us(the middle class) to the utter limit they can get away with to finance the machine composed of the federal government and the media whose job it is to make us think they are doing what is best for us. The whole mess this country has been in since 2006 seems to me to be like a downhill freight train with the wheels about to come off with everyone in government and the media trying to convince us everything is under control, in fact everything fine and on its way to great! I have two children 6 years and 6 months, and I fear for their future.

Wow, it's been all doom and gloom for the last four years. Can we please hear something possitive, uplifting for once? This is really getting old...

Because I'm not here to give l*ve and hugs. Well placed violence has built nations for centuries. Without it, you still end up with special interest and people who have been conditioned to accept their tyranny. Shall we re-engage in our discussion on the tyranny caused by this .01% group in our nation called f*gs?

Common currency? So basically you want to go from what we have to a system with more road blocks and red tape to get things done? How about we argue and have a committee on declaring what goods can be claimed and names patented by the new state...I claim sand rail, sand car, and anything that has sand in the name for the country of MAClandia.

If you are still scratching your head saying WTF is Mac talking about...you have no clue about the stupidity of actions carried out in the EU.

You failed to answer why it requires a dictator? As to engaging you? Nope; sorry - I don't swing that way.