That is the question. Are the Democrats knowingly throwing the coming presidential election. How bloody ridiculous, you say. Why would any political party throw the presidential election on purpose. Why indeed!
Let's look first at another item in our recent past. Before the great depression of the 30's, the economy cycled between boom and bust about every 11 years. The great depression was so severe that FDR (Franklin Delanor Roosevelt) was able to put in measures such as Glass Steagall, that stopped the banks gambling with our money. This stoped the boom and bust cycle for about 50 years until the banks came to the government and pleaded to have the regulations relaxed. Their argument. "Why would we do anything to wreck our businesses. It is perfectly safe for you to remove the regulations" and the government fell for it. Later, after the 2008 crash, Obama succeeded in getting Dodd-Frank passed which returned some small measure of sanity into banking.
Actually, I don't think they fell for it. I think they knew what would happen but were probably getting financial support for their elections from the banks and who knows what other 'perks'.
Now with this Covid19 crash, the banks are once more going to get a big bail out. It would be far better to give it only to the people who would spend it just to keep their heads above water and thus feed it that way to the banks. What will banks and other big businesses do with the money. I bet they will buy back their shares at bargain basement prices so that they have less dividends to pay in the future and more money to give each other as bonuses.
So you have to ask yourself, why in the lead up to 2008 did the banks bundle up junk mortgages and sell them at a premium as if they were double A, knowing perfectly well that they were endangering the whole economic structure. The answer is commissions. With every transaction, the bank earns some money and part of that money goes to the employee who did the transaction. Individual bankers could care less about the viability of their business as long as they can accumulate their commissions; as long as they can feather their nests. The viability of their companies is far down their list of priorities.
We come now to the question at hand. Why would the Democrats knowingly throw the presidential election by choosing an incompetent man who is clearly 'loosing it' like Joe Biden*. To answer that question it is instructive to paraphrase a comment by that great highly articulate politician, Sarah Palin. I can still remember the one sensible comment she made in her career. To paraphrase, she said, How come congressmen and senators who come into office with modest means, leave office rich.
Let's look first at another item in our recent past. Before the great depression of the 30's, the economy cycled between boom and bust about every 11 years. The great depression was so severe that FDR (Franklin Delanor Roosevelt) was able to put in measures such as Glass Steagall, that stopped the banks gambling with our money. This stoped the boom and bust cycle for about 50 years until the banks came to the government and pleaded to have the regulations relaxed. Their argument. "Why would we do anything to wreck our businesses. It is perfectly safe for you to remove the regulations" and the government fell for it. Later, after the 2008 crash, Obama succeeded in getting Dodd-Frank passed which returned some small measure of sanity into banking.
Actually, I don't think they fell for it. I think they knew what would happen but were probably getting financial support for their elections from the banks and who knows what other 'perks'.
Now with this Covid19 crash, the banks are once more going to get a big bail out. It would be far better to give it only to the people who would spend it just to keep their heads above water and thus feed it that way to the banks. What will banks and other big businesses do with the money. I bet they will buy back their shares at bargain basement prices so that they have less dividends to pay in the future and more money to give each other as bonuses.
So you have to ask yourself, why in the lead up to 2008 did the banks bundle up junk mortgages and sell them at a premium as if they were double A, knowing perfectly well that they were endangering the whole economic structure. The answer is commissions. With every transaction, the bank earns some money and part of that money goes to the employee who did the transaction. Individual bankers could care less about the viability of their business as long as they can accumulate their commissions; as long as they can feather their nests. The viability of their companies is far down their list of priorities.
We come now to the question at hand. Why would the Democrats knowingly throw the presidential election by choosing an incompetent man who is clearly 'loosing it' like Joe Biden*. To answer that question it is instructive to paraphrase a comment by that great highly articulate politician, Sarah Palin. I can still remember the one sensible comment she made in her career. To paraphrase, she said, How come congressmen and senators who come into office with modest means, leave office rich.
*Three years later
That so called Senile old man has proven to be about the most effective president since FDR. What a totally unexpected surprise. And when he talks he reminds me of Will Rogers. Subtle, understated and like a rapier. Go figure. Has he just chosen a plethora of great advisors or is he some sort of genius. We should look in the old folks homes for our politicians if this is an example of what to expect.
It certainly is not due to their salaries, which are quite adequate but not enough to make them rich. Clearly there are various 'benefits' to be had if you are on the inside.
Do you see a parallel with the bankers.
So to answer the question, it is not so much that they want to throw the election. The truth, though, is that they would much rather throw the election and leave Trump in office so that the various systems that allow them to feather their nest remain, than to have Bernie in office. They know for a dead certainty that Bernie will whittle away at the corrupt practices in government and that this will make it harder and harder for them to enrich themselves.
They would be quite happy if Joe was elected. The Democrats are becoming more and more like Republicans. In fact you could argue that they are outdoing the republicans in UN-democratic practices. The Republicans always choose puppets for their presidential candidates who will do what they are told but who have zilch minds of their own. The last thing they want is a leader that will look after the people rather than the insiders. The last thing they want is an honest president in the White House. They need someone that will play the game. Look at those great presidents, Bush and Regan. WTF. If Joe is in office* the whole system will remain just as favorable for the insiders as it is today and sod the people.
*Three years later
OK, I admit it. Biden has done more for the American people than any president I can remember.
So what is the final answer to the question.
No the Democrats don't want to throw the presidential election but they would much rather loose than allow Bernie anywhere near the leavers of power. Bernie would drain the swamp as Trump promised to do with no intention of carrying through.
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