JIMMY CARTER calls out Bush for deregulation, excessive spending, and the resulting financial crisis
Here is what happens when we elect an individual, who lacks intellectual curiosity but embraces a one-sided narrow agenda, as President of the United States (think Sarah Palin too, from Reuters):
Carter told reporters on a stopover in Brussels that “profligate spending,” massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.
“I think it’s because of the atrocious economic policies of the Bush administration,” said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.
Whoever wins next month’s U.S. presidential election would inherit economic problems that would force them to postpone implementing some of their proposed reforms, he said.
“The economic situation is an entrenched problem. It is going to take years to correct what has been done economically,” Carter said, adding he hoped Democrat Barrack Obama would win and immediately improve Washington’s image in the world.
Eight years ago, the United States had a budget surplus, low inflation and a stable, strong economy, he said.
Carter said he was astonished that the United States now owed China “in the neighborhood of $1 trillion.”
Deregulation and what he called a withdrawal of supervision of Wall Street had encouraged irresponsible elements in the U.S. financial system, enabling banks to borrow 30 times their value.
The political crisis in the US began with the fraudulent election of GWB, a nefarious attack to democratic principles, as endorsed by the US Supreme Court, so no wonder there is both a political and a financial crisis now.
If the US government (at least the incoming administration soon after taking office) doesn’t incarcerate a significant number of white collar criminals in the US and impounds their assets (both from the private and the public sectors; entrepreneurs and politicians alike, at the highest levels, whether members of the Illuminati clan or not) who are to blame for unfair business practices, political corruption, insider trading, favoritism on juicy war and other public contracts, self demolition of buildings and institutions, abusive secrecy about relevant information and technology that should be made public for the advancement of mankind (i.e. the Disclosure Project), including all sorts of tax / financial simulation and manipulation schemes, which combined blatant crimes have led the US to this collapse, and whose conduct is legally sanctionable by law and in equity, so as to demonstrate that there are rooted solid principles in the US legal system, sufficiently strong and valuable to shelter those main street citizens who abide by decent standards of living, and to punish wrongdoers until they repair the damage, with punitive and decisive action, the conclusion is simple: NO MONETARY BAILOUT WILL EVER BE ENOUGH FOR THE US TO REGAIN CREDIBILITY, because it is conducted at the expense of innocents and for the shared benefit of criminals. That is abuse of power … pure and intolerable injustice. If the Judicial system remains a silent puppet, just as the two other branches of government have clearly become noisy ones, the free fall of this crisis will not end, because what is being done is simply immoral, no matter how it is labeled or justified.
THE WORLD URGENTLY NEEDS A MORAL BAILOUT, and both the US Executive branch and the Legislature (composed of politicians mostly interested in their selfish careers, and not in the common good as public servants) don’t seem to have a clue of what that means or how to implement it, except with more of the same which wont solve the roots of the problem.
It is the Judiciary (not composed of biased politicians but by persons of allegedly good moral character with standards of ethical behavior), through the Supreme Court, the branch of government that is constitutionally in charge of administering Justice, so IT IS ABOUT TIME FOR THE JUSTICES TO DO THEIR JOB and save us all from what is coming.
Regardless of the merits, the US achieved international respect when President Nixon was impeached, which led to his removal from office after Watergate. During the last few administrations all kinds of lies and deceit by Presidents in the US have not been sanctioned and have not only been tolerated but continue to be even applauded, with a much worse component of dishonesty than the Nixon era, including shameless ridicule, so the outcome is exactly what we have and where we stand right now: economic, political and moral decay.
If a country has the government it deserves … there’s no more time to waste and the US as a country should regain worldwide credibility, because further delays in taking effective action with a principled bailout will unfortunately turn over governmental leadership to others abroad, just to save those few liable criminals in-house (politicians and bankers), and that will be at the expense of freedom and international peace, let alone the continued bankruptcy trends of the US economy and its political system, fundamentally due to more than obvious moral insolvency from the top down.
Eric Coufal, Esq.
Attorney and Counsellor at Law
admitted to practice in Mexico,
and in the United States by the
New York and New Jersey Bars
Montevideo 2695
Colonia Providencia
44630 Guadalajara,
Jalisco, México
(+52) (33) 3641-1834
(+52) (33) 3641-1791