Is it us, or has everything suddenly gone quiet on the economic cataclysm front since Obama's Imperial Passage? Sure, we've had plenty of police brutality and slanderous emails to keep our salacious palates slaked, but - erm, hello? The global economy, vanishing up its own backside with a dreadful, schlupping sound? Anybody?
Noooo... It's the elephant in the room. Manuscripts Don't Burn would like to break radio silence following the media fanfare today that - Thank God! - we've finally had a month where we've ACTUALLY had deflation, despite the corporate media and government banging on incessantly about how HUGE the danger is. And we only had to cook the books a bit! Huzzah!
Here's our question: is anybody out there actually experiencing deflation in their everyday lives? Mmm? No. Thought not. Next question: is anybody out there actually experiencing humongous inflationary problems with council taxes, utility bills, even food, whilst their wages / salaries / pensions / incomes remain static, if not falling? Whoa there! Thought so!
Yup, they're lying to us again. And we're swallowing it. Doesn't anybody *read* histories of the Great Depression? We're now heading for the nightmare scenario: falling wages and out of control inflation. God help those of us who have debt.
Bottom line: in order to justify stuffing their pockets with taxpayers money past, present, and future, it's necessary for the Powers That Be to convince us all there's a terrible, terrible danger for life, liberty, and the Safety of the Whole Goddamn World if they don't. And deflation is the bugbear.
Ask any economist who isn't on the payroll of the corporate fascists. A bank is failing? Let it fail. We'll have 12 months economic mayhem as all the banks go bust, then we'll straighten out. But no - capitalism is all about the socialization of the losses of the rich, ie the poor people pay for the rich people's losses by increased taxes. So that's what we're being forced to swallow, like it or not. This way, the agony will drag out for the next 3 years, churning through the real economy, creating massive unemployment, collapse, civil unrest, shortages, misery, and probably down and out rationing, war, and clamp-down. Then, when we finally hit rockbottom and we've finally given absolutely everything we've got to the Corporate Feudalists, and are all much, much, poorer, we'll have a nice decade of austerity and backbreaking work to build it all up again. Lest we forget? Don't make us laugh.
Here's another one, a "Lest We Forget" for the 21st century: BOHICA. Bend Over, Here It Comes Again.
Beware Chancellors saying it'll be over by Christmas! Just as well that nice Mr Obama is such a smiley, smiley man. Lovely. Ration coupon, anybody? Or how about a nice war bonds? Got to do your bit!