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Ha! Gotcha already! You thought this column was about poor, inner-city minorities who can barely make ends meet on America’s stingy welfare payments – and have to share each other’s kids when they visit the welfare office to earn a liveable check every month.
Nope. Not today. This column is about the people who got those welfare queens where they are today.
But to go there, we have to start here:
“IMF chief Christine Lagarde was accused of hypocrisy yesterday after it emerged that she pays no income tax – just days after blaming the Greeks for causing their financial peril by dodging their own bills.
“(She) is paid a salary of $467,940, automatically increased every year according to inflation. On top of that she receives an allowance of $83,760 – payable without ‘justification’ – and additional expenses for entertainment. …”
Well, I’m sure the “entertainment” part is legitimate. The IMF chief (International Monetary Fund) has an important job to do. She marches around the world giving countries that have spent themselves into financial oblivion more loans – backed by – you guessed it! Money from America!
Are you still with me? OK, because now that we’re here, we have to go back there. And “there” is not the IMF chief; she’s merely a tool of a small, insidious group of people. Those are the inbred entitled class who have both hands in the world’s cookie jars.
The entitled class is simply the genetic offspring from an earlier generation of industrialists and bankers who built something that made them a lot of money. So much money, they didn’t spend it all. So they left it for their offspring.
That’s usually a bad idea. The entitled-class’ offspring seldom have the skills to carry on. This leaves them dependent on professional money managers at big banks for investment returns, and less often the income from an ongoing enterprise run by ideologically sympathetic managers (the once-great newspapers and their march into oblivion come to mind).
What the entitled class does have, however, is the politicians they can buy. These are the people who have created mechanisms like the IMF to insure the cookie jar is always restocked from the blood, sweat and tears of the “little people” as we are affectionately known when tax time rolls around.
What’s the cookie jar? It’s the safe-haven investments the entitled class puts their money in. Since they have lots to invest, they don’t need a big return. That translates to safety. Usually. And that’s why they are fond of government bonds (and of course, deficits, which make bonds necessary).
Europe has taken to heart the advice of the entitled class. “Don’t work so hard. Pay everybody well. And let governments handle retirement. Don’t worry! Be happy!” Greece, Italy, Spain and France (where Ms. Lagarde was finance minister) come to mind. People there took the entitled class’ advice.
Now even the entitled class has realized the money they loaned these governments (sometimes through banks) isn’t going to be paid back. Not only are they going to lose a big chunk of their income when the interest payments stop – they’re going to lose the pot of money made by the last person in the family who knew anything about the world.
Europe doesn’t have the financial ability to bail itself out (if it did, it would have). Very few nations have an entity that can create money out of thin electrons. One that does is America. It’s the Federal Reserve.
The entitled class is desperate to funnel money from America to their failed investments in Europe. It is, quite frankly, their only hope to avoid a financial wipeout that would require them to work for a living.
We already know that Obama is a trillion-dollar bailout queen. And why not? After all, it’s not his money – or for that matter, his country. Why would he care?
Is Romney their man also? I’m guessing yes, but we’ll find out soon enough.
Once you understand who you’ve been bailing out, it gives some insight as to why America’s espionage apparatus is now desperate to read every private communication between American citizens, and why the feds suddenly want 20,000 surveillance drones in the air over America by 2015.
This election isn’t between Democrats and Republicans. It’s between the entitled class and the middle class. It’s a safe bet the entitled class will have the presidency.
What we have is the Congress – if the tea party is still alive and well. Do the veterans we honored this past weekend a small favor, if you are so inclined: Get down on your knees and thank God for the people who formed the tea party, and ask for his hand of blessing and protection upon it.
You don’t want to see 2015 without a tea-party majority in the Congress.