AP has reported that congressional leaders and the Bush administration Have reached a deal on the borrowing of $700bn. This just shows how easily it is to get things done. The House can vote on this tomorrow and the Senate on Monday says AP. Imagine, this could be $700 billion for housing, education or transportation creating thousands of jobs.
As it is this money, which will be borrowed and paid back with interest by the taxpayer, will be used to buy from the speculators and swindlers the bad assets they hold. Then the redeemable ones will be sold back to them; just like the savings and loan scam.
The most important thing about this is that it obliterates their arguments that the resources are not there and that the "wheels of government turn slowly".
They say this is necessary to prevent credit "drying up". What this means is that if the taxpayer cover's their losses they will end their strike of capital. The capitalists have been on strike and have won it, but the shock wave from their swindling has not yet run its course and more is to come. They are much more determined and their politicians in the Democratic and Republican parties more loyal to their cause than the present leaders of the workers' organizations; they haven't won a strike of Labor in years.
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