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Economic Diet - 2009 Ponzie Scheme
by sheryl rosen

"US Politics" | May 14, 2015 | Wahington DC -

When the rollercoaster dip began with the market descent back in July 2008, as the Dow Jones Industrial Average hit a record 14,000 for the first time, history was made, again and again, when in November 2008 Barak Obama became the first black president in the nation as with now when the President's black face to turned to white as the stock market hit rock bottom with a Dow Jones closing at a record low of 6500 this past March, 2015.  In the aftermath of an "axis of evil", a war on terrorism which more than half of American taxpayers gagged on a meager one hundred million dollar expense, a new devil emerged; the 2009 Ponzie Scheme, no miniscule Bernie Maddoff scheme.  

Back in mid 2008, Americans watched their savings, pensions, stocks, homes and jobs begin to slip through their fingers predictably reacting with trigger fingers as they casted ballots in the hopes that a candidates who's promise of change would provide a reversal in direction. It was a promise that proved to be too great for any one man, no less an entire congress.  Within days of the election, the president-elect set out to build a team of experts (chosing to ignore backgrounds which included tax cheats) to combat the real enemy, "greed".  Americans were massaged to believe the motto "greed is good" simply was not.  While masking the real culprits - swindling crooks - the president and congress encouraged their constituents with new ideologies glorified by clever titles known as a stimulus package and TARP.   Instead of tackling the crisis head on and solving the problems at hand the stimulus and TARP funds were directed mainly back into the misguided hands of the very same culprits which caused the crisis, a group that includes public and private sector officials.

Later in an impeachment hearing, back in 2010 when cries of mutiny was at it's highest peak as the stimulus plans and TARP proved to be costly and nearly worthless measures, the president and congress were presented with a letter, written by this very author dated in early February 2009, which simply outlined a plan of action calling for common sense remedy. In two sentences this author demonstrated by way of quick math; if $2+$2=$4, but you only have $1 now and $0.50 later, then the new formula must be applied: $1+$0.50+$0.50+ $0.50+$0.50 +$0.50 +$0.50 still equals $4 though it's taken a bit longer to get there. It's not rocket science. The second sentence refered to assumable mortgages a stimulus which hasn't been applied in too many years.  The president and congress failing to implement common sense policy drove ahead with ideologies to capsulate "toxic" debts and threw future tax payer funding into the system without recognizing they were applying the very same principal which caused the toxic mess; the inability to collect on past  debt based on potential future earnings is the real source of the problem. That is not greed, it's stupidity.  Simply put, the stimulus plan and TARP funding proved to be a three trillion dollar ponzie scheme.

After the stimulus and TARP breaks to the rollercoaster had been applied leaving Americans to pray the ride was over, the outcome proved to be far worse when in the first quarter of 2010 America, and other westernized nations fell further into the recession. Sheapered along by the newly defined set of rules MBA's lined up to file applications for work at McDonalds not just for the meager salary and cutdown healthcare benefits, but also a free happy meal.  Americans had to face the hard to handle reality, they had been duped again.  What then began to come into focus was that the only good jobs remaining in America were those held by elected members of congress and the senate.  Americans were fed up with the hypocracies in their leadership, neither democrat nor republican could escape the anger and cries for revenge.  All of the twelve hundred contacts in President Obama's email list were indicted with charges of fudiciary neligence nearly wiping out the entire house of representatives. 

With America nearly stopped in it's tracks, glued to their radios (no longer able to afford the electric cost of their tv's) listening as one by one the guillatine fell, new candidates emerged with new ideologies and a new party names. With the formation of the United Party (with the motto, "we stand"), the GMAB Party (give me a break) , and the NeoCapitalists Americans are again hoping and praying that new leadership would restore their lifestyles to one nearly lost and forgotten. 

 

 

 

 

 

 

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By Sheryl Ostrager nee Rosen

Publishing Permission:
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