The Great Change-Over Is Now Done

The US has been split, first by the slavery/no slavery issue which led to the biggest, deadliest war we ever had. Then, after the Civil War, Jim Crow was imposed upon the former slaves and this racist system spread like wildfire until the entire United States exercised this rule across the entire nation.  The struggle of the economic victims of racist apartheid is called ‘the Civil Rights Movement’ and many other, less brutally discriminated groups like Asian or Jewish communities, joined in this epic battle to become full citizens.  The Republican Party was founded by abolitionists.  The Democratic Party was founded by slave owners.  Now, over the last 50 years, the composition of these two parties have switched with the GOP becoming the Southern Party and the Democrats, the Northern Party.

According to internal reports I got via phone calls, during the election, there was a great deal of happy celebration in most cities in America as well as across the planet. The US has finally voted for a black President. This is a huge, huge historic moment and one that makes me very proud.

I complain about many things here and I have doubts that any Democrat or Republican can fix what is fundamentally wrong with the US empire’s comet-like course across history. But this is one major historical change that is very much for the better. From the very foundation of our European-style culture in the New World, the issue of slavery became very intertwined with the business of racism.

Before 1500, Africans were not looked down upon by Europeans because of the simple fact, Africans were politically and militarily quite formidable. Before 1300, the Muslims dominated much of the Mediterranean Sea. Superb sailors, they set ships out of Eastern African ports to ply trade across all of Asia, all the way to China. We see the results of this trade with the spread of Islam in many of the islands  

 Here is a map showing how this trade spread Islam:

Spread of Islam across Asia and Africa

Spread of Islam across Asia and Africa

 

 

 

 

 

 

The points where Islamic numbers are most concentrated in the Bangladesh Delta as well as the Indonesian Island complex are places of greatest commerce between Asia and Africa as well as Muslim parts of the vast Middle East and Asia Minor. Recently, a trade ship which sank while sailing in 875 AD from China to Muslim ports was found offshore of Sumatra. The fine trade goods were going to the civilized Muslim world.

All of this changed very suddenly and radically when the European powers figured out how to put cannons on ships and quickly developed their joint fire-power by fighting internally with each other to an astonishing degree. This rise in fire power was also had a lot to do to piracy. The pirates discovered that anyone with a merchant ship could outfit it for raids rather than trade.

One of my own ancestors who was a Protestant in France was exiled and his family murdered and his warehouses looted. So he put cannons on his ship and became a pirate. Retired to the New World with his loot. The ability to sail a ship with cannons into any ports and menace the residents caused an explosion of European domination of the entire planet. The more organized regions of the earth were able to resist this savage form of commerce.

But the parts of the earth that barely were touched by any of the great imperial powers from 8,000 BC to 1500 were totally helpless when this onslaught hit. All of the Western Hemisphere fell quickly to the European invaders. So did all the isolated islands and continents such as Australia. But in addition to these, all of sub-saharan desert African regions were exploited by these cannon-bearing ships.

Before the discovery of the New World, the Portuguese sailed around the Cape of Good Hope and for the first time ever, European ships found themselves in the Pacific Ocean. They also saw clearly that the natives of Africa were both totally helpless and utterly fascinated by the chance to trade with these odd, strangely colored pale people.

Just as the Chinese traded what they considered to be throw away goods with ‘barbarians’ so the Europeans traded with the southern half of Africa, giving in exchange, simple things common to Europe but rare in these once-isolated cultures. Nearly immediately, the European invaders discovered a most amazing thing: central Africa was filled with a huge, huge population of peaceful farming communities that had fairly sophisticated farming techniques.

Like the masses of China, this population complex in central Africa had mastered all the fine arts of high-standard, intensive farming. Over thousands of years, the populations there developed a high standard of work ethic. Since there was, like in China’s main agricultural communities, no winters, the work was year-round. European peasants were accustomed to many saint’s day celebrations as well as taking off the vast majority of winter to loll around in their huts, go to church and hob nob to their heart’s content.

But in these more tropical farming communities, work was year-round. So these Africans, like the Chinese peasants, had an amazing work ethic. They evolved to work hard, long days in the sun. Their dark, dark skin protected them from the fierce rays of the sun. They were quite intelligent and had fairly sophisticated cultural systems. They were, in a a word, quite civilized.

And due to the general isolation thanks to the Sahara Desert, totally helpless. The iron forges of war which drove the Middle East, Europe and Asia to develop first, bronze, then iron, this didn’t happen in central Africa. The agricultural opportunities there coupled with the general isolation from tribal warfare that wracked Eurasia and Northern Africa, was absent in the south of the Sahara.

There was one other big factor at work here: horses! The southern half of Africa was death to Eurasian horses. So the wheeled charioteers and horsemen that terrorized the farmers of Eurasia couldn’t invade southern Africa easily. So it wasn’t until these ships hove into port, these poor Africans discovered the horrors of the Iron Age.

And this iron was clamped onto their ankles and these fairly peaceful, self-sufficient farmers were hauled off and brutally enslaved and forced to work to death across all of the planet.

These victims of enslavement were immensely valuable. At first, the slave empires that took over North and South America deported their own peasants to these new lands to work the soil. But the death rate was enormous. And the hot sun of the tropical sectors killed off the white Europeans who evolved to suit a cloudy, damp and cold northern climate with long winters.

Very swiftly, the plantation owners noted that these new African slaves from West Africa worked longer hours and with greater care than the Europeans. The poor natives of much of tropical New World communities were utterly unable to work due to diseases brought over by the invaders. But the West African populations were genetically accustomed to a great many diseases.

This is due also to evolution: we all came out of Africa. And in particular, sub-sahara Africa! So millions of years of diseases also came from the same point on the planet. The further ancient humans traveled as they spread across the entire planet during the Ice Ages, the less contact they had with the Mother population in Africa and thus, the more vulnerable they would be when reestablishing contact again.

Eurasia was swept by diseases due to the horsemen of the plains traveling far and wide, bringing plagues and diseases from Japan to England. So it was a happy day for the European invaders of the New World to see they had the perfect peasant: black African farmer slaves!

To control this growing population of slaves, racism was the nifty tool. At first, the Christians pretended they had the right to enslave because these poor farmers were ‘heathens’. But as the Church altered that, there had to be a new excuse for enslaving them. This is when racism reared its ugly head.

When we look at the great Shakespearean play, ‘Othello’, we see the people of Renascence Europe considered a black African man as a superior being. His love of Desdemona was due to a generalized belief even in Muslim lands that women should be ‘lighter’ than men if they were in a harem situation. Indeed, the mixing of the ‘races’ was a more common thing than mixing of religions!

So of course, once the slavers from Europe began to import African farmers, they had sex with the women. Very rapidly, this became a problem. Why is that?

It is very simple: if all people who looked like African farmers in the New World were slaves, SLAVES COULD NOT RUN AWAY! They were ‘marked’. But the rape of the slave farming women made this harder and harder. On top of that, in the earliest centuries of enslavement, white women died much too fast while the black mistresses were barely effected by the high temperatures and damp climates.

Many a plantation owner made his children his heirs. In many places, these ‘mulattoes’ were considered prime marriage mates. The plantation owners would ship off their sons and daughters to Paris or Italy to gain even greater social respectability via marriage to less-wealth high class nobility.

This whole business created a huge legal problem in the slave-owning community: the slaves looked more and more like the owners. So the prohibition of marriage or granting heirs estates was surrounded by an increasing number of laws and social prohibitions. In the days of swashbuckling pirates, periwigs and gold embroidered, heavy lace outfits, black children of white slave owners were equals with nobility of Europe.

By the time of the American Revolution, they were all shunned or re-enslaved. As slave-owner, sexual exploiters like our Founding Father, future President Thomas Jefferson penned his paean to ‘freedom’ with the Declaration of Independence, he and his fellow slave owners had no intention of offering this god-given boon to their own slaves and even more hideously, to their own offspring!

George Washington was sufficiently embarrassed about this that he freed his own slaves. But only after he died. Jefferson’s slaves including his own children, were sold off to pay his debts when he died. As white slave owners forced their slave women to have sex with them, the skin color of American slaves became increasingly pale. After the slave trade from Africa was stopped thanks to changes in laws in Europe and the northern half of the new United States, the mixing of the slave population with their owners became a huge headache for slave owners.

Nearly white-looking slaves could successfully filter northwards towards freedom. To fix this, hideous laws were passed and the Supreme Court upheld this anti-freedom laws. This triggered the Civil War. Which the South lost.

The South quickly reinstated the slave ethos with Jim Crow. This was a series of laws and customs that were used to disenfranchise former slaves and to lock them not only out of society but out of commerce, too. So they were re-enslaved pretty effectively.

During all of the 19th century, two parties were formed in the US: the Democrats, which represented basically the slave states and Republicans who represented free states. Right off the bat, economic interests took over both parties. In the North, the New York financial heads ran the Republican party and in the South, vast land-owning commodity sellers ran the Democratic party.

So both parties had economic interests that were often at logger heads with each other. The commodity sellers wanted open trade and the manufacturing interests wanted tariffs and barriers. The funds for running both parties did NOT come from the mass of voters. Like today, nearly all of it came from the money interests backing either party.

This whole business got stood upon its head after WWII and the Great Depression. Many Northern Republicans deserted their party over the issue of Hoover’s response to the Great Depression. They ran to Roosevelt who promised to help labor survive that terrible collapse. The Republican party regained the White House only briefly during the heyday of the Democratic rule from 1932-1968 with Eisenhower. He was not very Republican in his rule. He supported civil rights and used the military to enforce the Brown vs Board of Ed ruling that integrated schools.

This began a great struggle to see which way our nation would go. Dr. Martin Luther King and a host of great hearts and great minds within the minority black community endured tremendous dangers and death in order to gain the right to vote, to own property, to live wherever they chose. Bit by bit, these priceless freedoms were won.

To the great fury of racists, many of whom were in the South! George Wallace defied all of this. And was the locus of a lot of Southern ire. He announced he would start his own racist party if no one courted the Southern racists and turn back the clocks of history.

Then he was shot.

‘Segregation now, segregation forever,’ Gov. Wallace changed to pro-civil rights after he was shot.

CNN: I was holding a bouquet of them in my arms when the woman walked up and gave me a crushing hug. “Honey,” she said, “you don’t know me, but when I saw you standing up here on this hill, I knew that you must be one of the girls and I couldn’t help myself but to drive up here and let you know how much me and my whole family loved both of your parents. They were real special people.” 

I thanked her for her kind words as we stood side by side gazing down at the graves of Govs. George Wallace and Lurleen Wallace.

After a few moments, the woman leaned into me and spoke almost in a conspiratorial whisper. “I never thought I would live to see the day when a black would be running for president. I know your daddy must be rolling over in his grave.”
*snip*
My father lived long enough to come to an understanding of the injustices borne by his deeds and the legacy of suffering that they left behind. History will teach future generations that he was a man who used his political power to promote a philosophy of exclusion.

As his daughter, who witnessed his suffering in the twilight of his years and who witnessed his deeds and heard his words, I am one who believes that the man who, on March 7, 1965, listened to the reports of brutality as they streamed into the Governor’s Mansion from Selma, Alabama, was not the same man who, in March of 1995, was welcomed with open arms as he was rolled through a sea of African-American men, women and children who gathered with him to welcome another generation of marchers, retracing in honor and remembrance the historic steps from Selma to Montgomery.

George Wallace came to terms with history and embraced change. He realized he made a terrible mistake when he tried to re-enslave his own people. For many a ‘black’ in Mississippi shared genes with him. I know that my own clan owned slaves beginning in 1600 and a number of blacks carry our family name, Steele. And I do say, they are my relatives and endured tremendous sorrows which were totally wrong.

This is also why I support reparations to the entire New World African community.

Wallace, when he denounced racism, became a non-entity to racists in the South. They basically froze him out. I know how this works! I was ‘frozen out’ in the South when I decided at a fairly young age, racism was stupid and annoying.

I started school in segregationist Texas, after all. And was glad that system ended. For not only blacks but Hispanics, Chinese and anyone ‘not white’ was forced to go to inferior schools. And it so happened that my best friends were all ‘not white’ children! I desperately wanted to go to school with them!

Nixon, in 1972, was seeing his popularity fall. He saw that the Republicans would lose the following election if Wallace peeled away the white racist voters. When Wallace was shot, this opened the door to the very noxious ‘Southern Strategy.’ This was an attempt to utterly take over the Democratic party in the South. One by one, Democratic politicians in the Deep South all switched parties. This began slowly but by 1990, was a tsunami of party switching.

The Republicans became this utterly repulsive party that encouraged and enabled racists. Once this transformation of Lincoln’s party was turned on its head and became a slave state entity, the GOP needed new targets of hate to grow larger.

This brought up another population that was denied simple human rights, another community which I love and honor and support: gays.

California Voters Ban Gay Marriage

CNN: With almost all precincts in California reporting, the A.P. said, elections returns showed that the same-sex marriage ban initiative known as Proposition 8 won 52 percent of the vote.
*snip*
The ban passed in all three states — the other two being Florida and Arizona — but its success in California, a trend-setter in so many arenas, was seen as major defeat for gay rights activists. 

And here is a stark reminder that the denial of civil rights to various people wasn’t aimed just at blacks:

CNN: Among the more unusual measures on this year’s ballots was one in Florida that would repeal an old clause in the state constitution that allows legislators to bar Asian immigrants from owning land. The repeal would be symbolic, as equal protection laws would prevent lawmakers from applying the ban. With 78 percent of precincts reporting just before 11 p.m. Tuesday, the vote was close, with 52 percent voting to preserve the clause. 

Joining mindless, nasty racists with religious bigots who worship a sex-crazed god that wants to dictate to us sapiens, how we mate, was the key to keeping the GOP in power. The money interests used the GOP to crush workers, kill unions, open our borders to endless foreign market penetrations and redirect wealth from the masses to the top 1%. To keep doing this, they needed a new ‘nigger’ and that was the homosexual community.

Since 1968, I have supported gay rights staring in California. Bit by bit, gays have won more and more acceptance and the very beginnings of basic human rights. It is an even harder fight than the fight for civil rights for Africans. When Africans were being enslaved, gays were being burned at the stake. Ditto, any pagan women which were called ‘witches.’

So here we are: the Democratic party which supports civil rights including in many places, gay rights, is now dominating the same parts of America the Republican party dominated back in 1955. I call this ‘The Great Change-over’ and it is now done. The GOP’s Southern Strategy is a total failure. It doomed the GOP to be a rump, reactionary party. The only whip left is to scare Christians with horror stories that gays will destroy their pitiful marriages.

The awful truth is the exact opposite: the crushing of the working class is killing marriages. We see this in Japan: in the working class, marriage and child bearing is collapsing. It may even annihilate the Japanese as a people. They are ruled by one party, the LDP, which is filled with very dangerous people who probably dream of world domination using robots! They obviously don’t care about nurturing the Japanese people.

Joe the Plumber is being discussed by various leftist web sites because he is a typical icon of the mental deterioration of the typical working class schmucks who vote for the GOP. The poor idiot is now unemployed. He was a fake from the start. His fury aimed at President Obama was pure racism. This guy now wants to start and run a charity so he can save people who are losing their homes. Of course, he, himself, is in tax arrears and is about to lose his own, deep in debt home.

He cannot, for the life of himself, look in the mirror and see clearly how his hatred for gays and blacks has doomed him to a life of serfdom and slavery. He imagines, if he can enslave all these other people, he will be the master and can loll about his plantation, having sex with slaves and ordering patient, hard working Africans to do more and more work. And if frustrated, he could then literally whip them to death.

This is the core of the dark dreams that agitate racists! I know this because I meet these sorts of people all the time and if I do clever questioning, they will eventually admit, they would rather be living in Antebellum South. My heart goes out to the gay people who want to be married in California and other states! My heart beats a happy tune that finally, finally! A black man is in charge of America.

Obama’s father was never a slave. But any African who came to our shores from 1600-1964 was denied civil rights. Any African visiting from Kenya who came to New York City in 1950, could not stay in most hotels. Or buy a house anywhere. My father had a deed to one property of ours which forbade the sale of our property to ANY ‘Negroid’ person ON EARTH. He also couldn’t rent to any ‘Negroid’ person!

The deed said, only ‘Negroid’ servants were allowed on our property overnight! I was horrified when I saw this. And this is what racism is all about: in Israel, Muslims cannot buy properties owned by Jews. The noxious elements in Israel is identical to the Deep South of my youth. Which takes us back to the beginning of my history here: the Muslims of Northern Africa were the global traders, the civilized people 500 years ago. And now, we are in a new battle with all of the Muslim world.

Which goes back to the wonderfulness of Obama: his father is a Muslim. He was raised as a Christian. He crosses all the frontiers we need to cross to get to what I think is civilization: where all people are equal and all have the same liberties and rights. And can marry ANYONE they wish! And I do mean, ANYONE.

 

51 Comments

Filed under Politics

51 responses to “The Great Change-Over Is Now Done

  1. Nice Site layout for your blog. I am looking forward to reading more from you.

    Tom Humes

  2. calvino

    You are lying again. Israel brought in ‘black’ Ethiopians, Yementies and Moroccans by the hundreds of thousands because they share the same faith. You know this, yet you continue to lie.

  3. wpm1955

    I can see you put a lot of effort into this post, and it was interesting to read, but there are a great number of factual errors in your history. I have lived in Africa for nearly 20 years and traveled all over the continent. I will just point out a few things:

    It’s clear you have not traveled around Africa and are unaware of what racial groups are living in different parts of Africa. All of North Africa is populated by WHITE Muslim Caucausians who have enslaved black Africans for centuries, bringing them north across the Sahara. In Morocco, slavery did not end until the 1920’s. In Mauratania, it did not end until 1986. Many of these caucasians (the Berbers) have mixed with former slaves, creating the light coffee-color of North Africa. Many Berbers, however are as white as northern Europeans. However, most people are not at all racist in the way that you find racism in North America. Those black Muslim societies who are south of the Sahara had the religion spread to them by the WHITE Arab and North African slave traders, long before the Europeans started enslaving Africans.

    When the Portugese sailed around the Cape of Good Hope they did NOT find themselves in the Pacific Ocean. (Look at a map.) They found themselves in the INDIAN Ocean.

    I’m not sure how you have the idea that “China has no winter.” There are some rice-growing regions in southern China, but many areas of China have severe winters! Just look at the rice-growing regions of the United States, and they have winter, as does northern Florida, New Mexico, and Arizona. China is no different.

    The Civil War was not caused by slavesescaping northward to freedom. It was caused partly over economic issues, and partly over the whole issue of slavery (but not by slaves escaping north).

    During the 1800’s, after the Civil War, most blacks were REPUBLICANS (NOT Democrats!). Why? Because the Republicans were the party of LINCOLN (who freed the slaves) and this continued until some time after 1900.

    You point out that in Israel (which I have never visited) that Muslims cannot buy property, but perhaps you don’t realize that for centuries in many Arab nations they were subject to living only in special enclaves, and being totally segregated.

    There are other errors here, but I think I’ve said enough.

    It is most commendable that the United States has now elected Obama for a president, and perhaps this will go far toward healing the remaining racial divide in America, and between America and the rest of the world.

  4. rockpaperscizzors

    Barack Obama is more than a African American. He is the sum of his descendants. The media dwells on his father’s heritage and religion. Yet, he is his mother’s son as well. Obama represents America’s complexities of european and african background, and middleclass upbringing. He briefly lived in Hawaii as a toddler, parents divorced, mom remarried and moved to Indonesia. At age 10 returned to Hawaii to be raised mostly by his maternal Scottish, Irish, English grandparents. Hawaii was not the epicenter of black racism as the south held that honor.

    His grandmother was the center of his life, the bedrock on which Barack stands upon. His childhood was not ordinary. His education is extraordinary as an adult. And the full impact of racism in the USA, I surmise, came as an adult.

    We as a nation must acknowledge the pieces that as a whole are who Barack Obama is today. A complex human being who represents a wide swath of Americans. Acceptance of Americans as a heterogenus population that transcends race, ethnicity, religion, sexual orientation, male, female, and cultures.

    Take apart a clock and identify the individual parts, it is no longer a clock. But when combined as a whole, it is a clock. We too, are the sum of all our parts, as is the United States. That’s what makes the USA great. We work well together as one; united. Republican divisiveness of fear to divide and conquer only wins by breaking apart the whole into bits and pieces. This time around, they failed. They can either join us as a whole or vanish as an extinct speices.

  5. Wonderful post Elaine!

    For the critical ones, I don’t take anyone’s view of societies or history at face value. For example, I come from New England, so I wouldn’t probably say that Northern Florida has winter! We all look at things in very different ways. If you ever do mescaline, you may well understand what I mean about different ways of viewing.

  6. emsnews

    OK nit picking: China, where the major agricultural areas were BACK IN 1300 AD were mostly in the warmer parts.

    Africa has MANY people: it is the cradle of humanity and has all sorts of genetic sub-groups.

    About Israel: the Ethiopians who were brought in are discriminated against and are quite unhappy about this.

    The problem with Israel is that JEWS get civil rights MUSLIMS and CHRISTIANS do not have! Got that? That is wrong. Imagine if America imitates Israeli Jews and demands Christians have lots more civil rights than any other religious groups! GAH.

    I did a very sparse thumbnail history that didn’t hit on everything. The Portuguese did sail the Indian Ocean BUT ENDED UP IN THE PACIFIC, this was part of the whole ‘around the world’ business of the Europeans. The Portuguese got to Asia via Africa and this forced the Spanish to do the opposite direction, aiming for China, of course.

  7. emsnews

    About Muslims buying property in Israel: they can buy FROM EACH OTHER and I thought I made that clear.

    They CANNOT buy from a JEW. They can only rent. This is identical to the US during the Jim Crow years.

  8. pkscottx

    With Obama’s election we have a spark of hope.

    How much change he can really effect in today’s turmoil is yet to be seen, but he can articulate a vision and inspire people to strive towards it.

  9. emsnews

    About African slavery: ALL cultures enslaved. If you lost a war, you could be enslaved.

    The wholesale enslaving of the farmers of central Africa and then hauling them all off, BY THE MILLIONS to the New World was a huge crime against humanity.

    When this was stopped, the descendants of this vile trade were NOT given their freedom. They were locked out of mainstream society into ghettos.

    Jews were locked out this same way for many centuries. The ghetto walls didn’t fall until just over 200 years ago. Discrimination continued until my own lifetime.

    This history has created a monster: a people with a chip on the shoulder who are shockingly reproducing the worst of their own oppression.

    Obama supports Israel because he wouldn’t come within spitting distance of the White House if he didn’t. He is even choosing a very powerful member of AIPAC to run the White House for him.

    He is certainly not someone raised in the Deep South. He is free of the worst of the horrors of the segregationist years and this is a very good thing.

    This is why he can accept things better than people who are older and who still remember the bad days.

  10. emsnews

    About the slaves escaping north: the ‘in your face’ moment in US history was when the Supreme Court ruled that southern slavers could come north to kidnap back into slavery, those who escaped the whip.

    This utterly outraged many, many people! There was a riot in Troy, NY, for example, when people mobbed the authorities who were trying to put a black man into iron cuffs so he could be shipped back to the South and severely beaten and maybe, even killed!

    People pretending this was not an issue are racists or simply love to color history in pastels.

    For someone to accuse me of being a bad historian, then appending that pathetic lie that the Civil War had NOTHING to do with the laws concerning forcing slaves in free states to be returned to slavery…GAH! Shame on anyone who believes this was nothing! Shame, shame, shame!

    Read a history book written by a black historian if you need education. Do NOT read any of the histories written by slavery apologists.

  11. here’s mike’s response to the political shift and what the economic future is:

    http://mikeruppert.blogspot.com/

  12. Paul S

    Hi Elaine: I think you are a little harsh towards our Founding Fathers. They were slave owners–and no one is defending that–but they did forge a nation that has a black President now. So they weren’t perfect; there’s no Santa Claus either. YOU may have been a slave owner had you lived during the founding of this country. I don’t know about how peaceful they are in Africa. They seem pretty barbaric to me; warring black tribes ( I know. It’s the white man’s fault.) kill each other at a torrid pace: hundreds of thousands, even millions. EVERY nation/race commits atrocities, doesn’t matter skin color.
    Joe the Plumber: he was so obviously a plant somebody should water him. Like others here, it mystifies me how ANY non-wealthy (wealthy defined as upper 5% income) person can vote Republican. But then, I used to buy the line of garbage corporate welfare whores like Limbaugh and Hannity were selling so I can’t rip Joe the unlicensed Plumber too much. Message to Joe the Plumber: get ALL the dough you can get from your Republican “buddies” while the gettin’s good. Soon as they don’t need you, you are OUT THE DOOR.
    What’s killing marriages? The cost of living. People can’t afford to have more than 2.3 kids anymore. Divorce is another. You have a divorce rate of 40%-45%. Many men feel the system is heavily biased against them. And as a factual matter they are correct; lose your house and 50% of your assets some time. See how well you like it. Fewer and fewer men are willing to take the marriage risk when living together is a FAR better–and less expensive– option. Not a good option for women though. The biggest segment of the population living in poverty? Single mothers with kids. You can thank the feminist movement for this situation. The feminists wanted no-fault divorce. They got it, but the result is fewer and fewer men are falling into the marriage trap. The law of unintended consequences…(btw: where is the ‘preview comments’ feature? I liked that feature so I hope it comes back)

  13. DrKrbyLuv

    Ron Paul summed up the race issue in America very succinctly:

    “In fact it is the federal government more than anything else that divides us along race, class, religion, and gender lines. Government, through its taxes, restrictive regulations, corporate subsidies, racial set-asides, and welfare programs, plays far too large a role in determining who succeeds and who fails in our society. This government “benevolence” crowds out genuine goodwill between men by institutionalizing group thinking, thus making each group suspicious that others are receiving more of the government loot. This leads to resentment and hostility between us.”

    “The political left argues that stringent federal laws are needed to combat racism, even as they advocate incredibly divisive collectivist policies.”

    “Racism is simply an ugly form of collectivism, the mindset that views humans strictly as members of groups rather than individuals. Racists believe that all individuals who share superficial physical characteristics are alike: as collectivists, racists think only in terms of groups. By encouraging Americans to adopt a group mentality, the advocates of so-called “diversity” actually perpetuate racism. Their obsession with racial group identity is inherently racist.”

    “The true antidote to racism is liberty. Liberty means having a limited, constitutional government devoted to the protection of individual rights rather than group claims. Liberty means free-market capitalism, which rewards individual achievement and competence, not skin color, gender, or ethnicity.”

    “More importantly, in a free society every citizen gains a sense of himself as an individual, rather than developing a group or victim mentality. This leads to a sense of individual responsibility and personal pride, making skin color irrelevant. Rather than looking to government to correct our sins, we should understand that racism will endure until we stop thinking in terms of groups and begin thinking in terms of individual liberty.”

    *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

    It amazes and offends me that so many people see the world in terms of race. I suggest that we as a people simply stop institutionalized racism – no matter how noble the intent.

    For example, I think every form that stipulates race should be amended to eliminate any distinction. Why does it matter? How do we know unless a thorough genetic investigation is undertaken that goes back through the history of ones breeding. To be sure, most of us are mixed to varying degrees which brings up another question if one travels down this road – what percentage is required to determine ones race?

    Reverse discrimination is also racism – it should be stopped in every form. This institutionalizes racism, breeds contempt and perpetuates the divisive nature of group-thinking.

    Elaine said: “This is also why I support reparations to the entire New World African community.”

    I hope you have thought about the consequences and inequities that such an endeavor would bring. First, would a more “pure” African stand to receive more reparations than a mixed breed? Would a half white-half black person qualify for 50%?

    Would every “new world” citizen be charged the same, or would partial blacks be billed less? What about the Irish who were mercilessly enslaved by Great Britain and less enslaved in America? Should they also receive reparations? Or should they simply be billed less?

    How does one prove that the ancestors of a individual were perpetrators of the inequities of racism?

    I don’t see color in people and would hope others do the same. Freedom unites us while racism divide us – divisive policies thus breed racism.

  14. justputitdownandbackaway

    Dear Elaine,

    Ironically, it was Obama’s heavy draw of minority voters that tipped the scales toward passage of Prop 8: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/05/MNH413UTUS.DTL

    Black voters favored this blatantly bigoted measure by more than 2 to 1. This is an interesting parallel to to the chip-on-the-shoulder Israeli Jews who are very busy ferociously and brutally subjugating the Palestinians under their rule.

    The most egregious victims in all of this are young gay black people. And, in my opinion, black families should be deeply ashamed of themselves for this.

    It should surprise nobody that gays kill themselves in epic numbers as teenagers. It is hard to get statistics on this because we are not able to attribute most suicides to any specific cause. But, self-identified gay teens kill themselves at more than three times the rate of straights: http://www.religioustolerance.org/sui_fact.htm. This does not count the ones who never came out and simply couldn’t bear to face the rejection of everyone they know, love and from whom their fragile young egos need approval. Keep in mind that to be a “self-identified” gay teen, you need the support of your parents.

    The tragedy for people who are gay cannot be understated.

    Blacks, Jews, Hispanics, Asians and other minorities can retreat to the safety of home, family and community after a day of doing battle in a racist world.

    Gays are the only minorities raised by their oppressors.

  15. calvino

    You always have an answer for everything. It is absolutely amazing that even when shown wrong, you continue to argue your points. Blank statements about Ethiopians in Israel that are wrong. Silence about my other examples, Morrocans and Yemenites, that you ignore out of convenience. Disparate scales of justice. How much can land can jews buy in Iraq, Iran, Jordan, Syria, the Emirates, Saudi Arabia, Yemen? Can a jew or a christian visit Mecca? I am going to hold you to your lies henceforth. And how about you set an example for Israel and donate your property to the First Nations and the NAACP.

  16. justputitdownandbackaway,

    Okay, I just posted this at PortlandInymedia:

    http://portland.indymedia.org/en/2008/11/382055.shtml

    What Good Will This Do? ————

    I’m white, not black, but I have a lot of experience dealing with, and living with black people. I find the hypothesis of this post rather implausible. I actually don’t know the likelihood of blacks attending church or mosques or whatever, more than whites. It’s possible, since they have to deal with a lot of oppression, which seems to lead to religiosity. Beyond that, the entire premise is very questionable.

    First of all, how do we know how they voted? Have exit polls that were ignored under Bush suddenly become fashionable? And why would I trust CNN any more than I would trust FOX News?

    Anyway, no link to CNN was provided in this post. Part of this post seems to have been cut-and-pasted from Time (partners with CNN) dot com:

    http://www.time.com/time/nation/article/0,8599,1856872,00.html

    … But that article did not mention blacks at all. Part of it is identical to a forum comment on IGN dot com:

    http://boards.ign.com/teh_vestibule/b5296/173377393/p1/?6

    There is a discussion about this issue on Los Angeles Times dot com:

    http://www.latimes.com/news/opinion/la-oe-stewart14-2008aug14,0,4566881.story

    “Don’t bet on it. Although ordinary polls report lower levels of support for same-sex marriage among blacks than among whites, views on same-sex marriage are a rapidly moving target that’s tough to pin down, even for experts.”

    All in all, it is probably unhelpful, to say the least, to set minority groups against one another.

  17. Impatient Patriot

    Elaine, starting to like some of the site features.
    How bout ? are you taking or making lists of features to implement?
    And Thank You for allowing us into your head, it’s fun and a little crowded what with all that’s in there.

  18. nah

    i buy it obamas fortune man

  19. Grok

    According to Gore Vidal’s novel “Lincoln”, just before issuing the emancipaion proclamation, Lincoln gathered influential black leaders (primarily religious leaders) to a meeting to address the sins of slavery. He (Lincoln) was prepared to help send them back to their home lands or give them the colony of New Granada in Central America as reparations . To Lincoln’s surprise, the black leaders expressed the desire to remain in the United States and be treated as equals with the same opportunities as others.

  20. Grok

    Typo…emancipation

  21. drkrbyluv

    Elaine –

    Does this new blog allow us to post images and link text – if so, any link as to the how would be appreciated!

  22. emsnews

    I don’t know if images link. I hope they do. Try it out and see if it workd, Krkrbyluv.

    As for other comments: thanks for the discussion!

    About the ‘Negroes’ who were asked to leave America: THEY BUILT THIS PLACE!!! If anyone has dibs on America, the former slaves have this in spades!

    Asking for equal opportunities is natural. And was denied for another 100 long, long, terrible years.

    About the black and hispanic communities: they are actually rather conservative. I did a lot of organizing there in the past and know very well, how conservative they actually are.

    They are turned off by the racism in the GOP. The GOP is too stupid to see this.

  23. emsnews

    Impatient patriot: the weather here on my mountain has been rather mild lately and I have spent most of my time outside, building things before the winter blizzards blow in.

    When I am not so busy, I will explore this new site a lot more and make a number of interesting changes. I am in intense communication with WordPress and hope to get some more understanding with them.

    Please be patient and if you have a ‘wish list’, let me know. I need to try out many different things here.

  24. dffacti

    Ah, yes – restrictive covenants. In the battle in which I currently am engaged, the subterranean rascists have persuaded favored media to “cover” the story – and one article in particular appearing in the – disappointingly – Chicago Reader went into great detail about a mid-1960’s assassination of a white police officer by a black assailant. What he didn’t mention, though I raised the issue with him before he submitted his story to his editors, was an early 1950’s murder of a white home owner by his white neighbor in a covenant-restricted neighborhood in a lily-white town – where only ONE black family was allowed to live because the man was a star softball player for the town company softball team. The murder was inspired by the fact that the victim showed his house, which was on the market, to a black family, so the neighbor killed the owner. – – – white on white crime stirred by fear of integration.

    The murderer got off with a wrist slap.

    This incredibly dramatic TRUE story didn’t move the Chicago Reader author, who, incidently, is the son of the yacht club Commodore, and the yacht club environs – where my soon-to-be-destroyed park is located – will benefit from the enclave which will result from eliminating a public space where even poor people – even poor balck people – can go.

    The local bourgoisie are ugly and hateful — and they never lose.

  25. drkrbyluv

    The democrats are no better than the republicans – don’t be mislead by recent election results:

    Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs

    “Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.”

    “Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.”

    “Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers’ retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.”

    The current retirement system, Ghilarducci said, “exacerbates income and wealth inequalities” because tax breaks for voluntary retirement accounts are “skewed to the wealthy because it is easier for them to save, and because they receive bigger tax breaks when they do.”

    “Lauding GRAs as a way to effectively increase retirement savings, Ghilarducci wrote that savings incentives are unequal for rich and poor families because tax deferrals “provide a much larger ‘carrot’ to wealthy families than to middle-class families — and none whatsoever for families too poor to owe taxes.”

    “The majority of witness testimony during recent hearings before the House Committee on Education and Labor showed that congressional Democrats intend to address income and wealth inequality through redistribution.”

    http://tinyurl.com/5fkgya

    *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

    The NWO banking bastards will take everything we own or might own in the future. The very reason why people sacrificed by putting money aside in a safe personal retirement account was that they knew dam well that the crime syndicate that runs this country would take our social security.

    I am not by any means wealthy but I did accumulate some savings in my private IRA retirement fund. That is my money, free and clear – to be taxed upon withdrawal – this is a contract.

    Forget right or wrong – forget the rule of law; they – the NWO democrats, republicans, blacks, whites or whatever – are going to take over most of the planet. They are marching us towards enslavement and poverty.

    They will use divisive tactics – pitting poor against middle class – black against white – democrat against republican in order to gain support for a hidden tyranny.

  26. PLovering

    Obama was elected by a desperate nation in the middle of an economic meltdown.

    Otherwise, he doesn’t get elected.

    So, watch your back. Zi juus thrive on desperation.

  27. calvino

    ZiiFuckerling zrives on zi dezperation.

  28. Blunt Force Trauma

    …back to reality….

    Journey down (Garth Turner)

    Canada is NOT immune.

    http://www.greaterfool.ca/2008/11/06/journey-down/

  29. Blunt Force Trauma

    Mr. Hopey Changey will pay for it all with the seizure of your retirement fund(s).

    Dems Target Private Retirement Accounts (Carolina Journal Online)

    ‘RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.’

    Full article:

    http://www.carolinajournal.com/articles/display_story.html?id=5081

  30. Blunt Force Trauma

    It’s a Mitzvah (Washington Post)

    I’m….speechless.

    http://www.washingtonpost.com/wp-dyn/content/article/2008/06/04/AR2008060403508.html

  31. Blunt Force Trauma

    Yes, I realize the story I posted above (It’s a Mitzvah) is from June of this year, but a stern reminder of what ‘is’ needs to be revisited.

  32. emsnews

    Ron Paul is totally wrong about the Federal Government causing racism!

    Good grief! I was alive and very much aware of what was going on during the end of Jim Crow. The deep South was very angry about Eisenhower sending in Federal agents to help little black children go to elementary school!

    During the entire Civil Rights movement’s darkest days, the people of Mississippi and Alabama, etc, prayed that the President send troops to help them vote! The racists in the South used terror to prevent blacks from voting. This included murder, very much murder.

    Ron Paul was alive in the south while this horror was going on. How dare he say that the Federal Government, not southern racists, caused it all. The whole issue of ‘state’s rights’ was cover for keeping Jim Crow going.

  33. RobG

    More on DTCC. Seems like we are still waiting for Gordo (link):

    The most comprehensive report on unregulated credit-default swaps didn’t disclose bets in the section of the more than $47 trillion market that helped destroy American International Group Inc., once the world’s biggest insurer.

    A report by the Depository Trust and Clearing Corp. doesn’t include privately negotiated credit-default swaps that insurers such as AIG, MBIA Inc. and Ambac Financial Group Inc. sold to guarantee securities known as collateralized debt obligations. It includes only a “small fraction” of contracts linked to mortgage securities, according to Andrea Cicione at BNP Paribas SA in London.

    ***snip
    Because the DTCC registry captures only commonly traded contracts that can be confirmed over electronic systems, not every swap trade is in the company’s report, spokeswoman Judy Inosanto said. Among those not included are credit-default swaps on CDOs, she said.

    **snip
    (hahaha – talk about being eaten by the beast)

    Some investors holding the riskier slices of CDOs that weren’t guaranteed lost more than 90 percent because of the bank failures.

    “The worry is that these bespoke tranches are being eaten away, and who knows if and when these losses will get realized,” Tim Backshall, chief strategist at Credit Derivatives Research LLC in Walnut Creek, California, wrote in a note to clients yesterday. /blockquote>

  34. drkrbyluv

    Blunt Force Trauma –

    It’s disgusting to see an American President rush to the knees of the AIPAC masters like a dog eager to do tricks. And what right does he have to promise $30 billion?

    The country is going broke but he increases foreign aid and promises to rev up the Zionist war machine.

    Alex Jones and Ron Paul discuss the election and the future. Good stuff…

    *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
    Elaine –

    Ron Paul is not blaming the federals for creating racism, he is simply saying that they are continuing it – racism is being institutionalized.

  35. “Ron Paul is not blaming the federals for creating racism, he is simply saying that they are continuing it – racism is being institutionalized”

    Which of course is perfectly ridiculous.

  36. nah

    so im boared an like music… suggestion dark tranquillity monochromatic stains??? its metal anyone like metal post your favorite metal bands here… oyeah and vote

  37. emsnews

    I am aware of how laws designed to fix past racism are now causing people to demand more and more ‘special’ situations.

    Fixing 200+ years of mess isn’t easy. And I am very uneasy about some of the solutions. Perhaps, with the rise of someone stellar like Obama, we will finally get past all that.

    I am for everyone to start off on the same foot in life. This means, recognizing the benefits the children of the well-connected are ahead of the race for power from day one.

    Obama was an outsider who got inside, like Condi and Powell, because of the benefits of fast-tracking blacks in academia.

  38. emsnews

    Rob, thanks for the DTCC link. I will be returning to talking economics again tomorrow. I am still building a garage for the jeep and this has been a lot of work. The days of nice weather are fading very fast up here in the northern mountains.

  39. GOLDTRADER

    THE BASIC TRUTH IS:

    WE’RE ALL PINK INSIDE

  40. w3g

    Excellent education! Thanks Elaine.

  41. Gary

    Mr Calvino

    Many of the Ethiopian Black Jews (Falashas)
    and other black Jews in Israel have been
    complaining about discrimination. See link below….

    http://www.american.edu/israelstudies/whatsnew/Papers/Uri.htm

  42. The Mule

    Calvino,

    How’s the pay at AIPAC?

    The Mule

  43. wpm1955

    Elaine,

    Perhaps you are unaware that Muslim countries also discriminate against anyone who is not a Muslim even today. I’m not saying that what Israel is doing is correct, but just want to make you aware that they are following the Middle Eastern mentality with what they are doing. I am not a Jew, but I am a non-Mulsim (nominal Christrian) living in North Africa. I assure you there is all kinds of economic (actually codified in law) and social discrimination against anyone who is non-Muslim. This is because while foreigners are permitted to practice their “own” religions, Islam is viewed to be the only “correct” religion. So the society is trying to make economic and social methods to induce people to convert to the “correct” religion.

  44. nelson

    wpm1955: Perhaps you are unaware that America also discriminates against anyone who is not American even today. So society is trying to make economic and social methods to induce people to convert to the “correct” nation.

  45. «This is also why I support reparations to the entire New World African community.»

    I don’t, because it is a too complex issue, and also because the Union paid its debt to the New World African community in blood: hundreds of thousands of American citizens died to fight to free their dark skinned compatriots.

    Most dark skinned people in the USA today are free only because many of their white skinned compatriots over a hundred years ago died to free them from their oppressors.

    Sure, even if freed they have still suffered from prejudice and discrimination. But the big debt has been paid in blood.

    What is needed now is not reparations, but the equal protection of all citizens (most of them regrettably dark skinned) that are oppressed by prejudice and lack of opportunity.

  46. albanila

    test… I just typed a long comment which does not appear an hour later…

  47. albanila

    Rats… I don’t know what happened to my previous comment.

    Elaine, I enjoy your blog very much. First that!

    What I found odd here is that you don’t mention the Arab slaving which went on for the best part of a millenium out of the east Kenyan port of Lamu, where I lived for more than a year.

    There is still a prison (now a museum) on Lamu, where in a reverse Ellis Islan fashion, human cargo gathered by Arab slavers were brought to be auctioned off.

    A strange karma occured in the past few decades: because of their local Islamic proscription against “worldly” education, the only ones able to get better jobs on Lamu island in government are the fully indigenous, non-Islamic people.

    I lived among first generation literate Kikuyu schoolgirls and others (mostly Kikuyu, some Luo, Taita, Pokomo and Pokot, among others) whom I interviewed at great length in the course of friendship. These were some stripe of Christian, hence had been quite well educated, speaking and writing better English than most school-age US kids do today.

    Anyway Islam came via Arab slave traders, who primarily used Lamu as their port for roughly 1,000 years. Slavery was the island’s main commerce until outlawed in 1907.

    In summary, it was not only Europeans who heavily dealt in the African slave trade. The Arabs perhaps did at least as much slave trade as Europe over the course of time, which indeed is the genesis of Islam in north Africa.

  48. emsnews

    Albanila, I had a series of launching problems here. Comments were lost. I must apologize again for this. Hope it never happens again! I did correct most of the problems, by the way!

    I want everyone to be free with the comments. I don’t mind verbal wars, I read everything if possible. And I believe not in ‘snark’ like at Daily Kos that is 99% snark. I like people to say what is really on their minds no matter what that is!

    Seriously! Debate is good!

    Some people here tell me about Arab Muslim discrimination: I know a great deal about this! My parents didn’t let me go with them when they went to work inside Saudi Arabia back in the mid-1970’s. My mother showed King Faisal a picture of myself and my very Jewish husband. The King was horrified.

    Not only that, my parents were being flown on a jet owned by the King that was flying from California to Saudi Arabia. He told my parents to hike on this flight so they went along. Only one of the princes with them noticed the wallpaper design had the Ethiopian Lion of Judah on it! So they landed the plane in northern Africa and a bunch of workers came on board and used magic markers to cover over the Hebrew words on each crown of each lion!

    They even had to crawl under the seats to do this!

  49. Gary

    Nah and Openly….NOT ! I wish you guys wouldnt believe in
    these Goebels-type fascist engineered stories.Why
    did this “spitting” story come out in the 1980’s you have to ask ? Its because our mis-leaders
    wanted us to “get over Vietnam” so they could
    more easily send our youngsters off to another one of their adventures in the 3rd world.

    The link for the following quotes is down at the
    end of this post.

    “As a scholar of urban legends I am usually involved with accounts of vanishing hitchhikers and involuntary kidney donors. These stories are folklore that harmlessly reveals the public imagination. However, accounts of citizens spitting on returning soldiers — any nation’s soldiers — are not harmless stories. These tales evoke an emotional firestorm.

    I have studied urban legends for nearly 20 years and have been certified as an expert on the subject in the federal courts. Nonetheless, it dawned on me only recently that the spitting story was a rumor that has grown into an urban legend. I never wanted to believe the story but I was afraid to investigate it for fear that it could be true.

    Why could I not identify this fiction sooner? The power of the story and the passion of its advocates offer a powerful alchemy of guilt and fear — emotions not associated with clearheadedness.

    Labeling the spitting story an urban legend does not mean that something of this sort did not happen to someone somewhere. You cannot prove the negative — that something never happened. However, most accounts of spitting emerged in the mid-1980s only after a newspaper columnist asked his readers who were Vietnam vets if they had been spit upon after the war (an odd and leading question to ask a decade after the war’s end). The framing of the question seemed to beg for an affirmative answer.

    In 1998 sociologist and Vietnam veteran Jerry Lembcke published “The Spitting Image: Myth, Media and the Legacy of Viet Nam.” He recounts a study of 495 news stories on returning veterans published from 1965 to 1971. That study shows only a handful (32) of instances were presented as in any way antagonistic to the soldiers. There were no instances of spitting on soldiers; what spitting was reported was done by citizens expressing displeasure with protesters.

    http://www.freerepublic.com/focus/f-news/1276799/posts

  50. Gary

    Article from todays http://www.counterpunch.com
    This is how the bankers are trying to engineer a recovery…..
    Or as Lawrence Whelk would say, “time to shtat da bubble macheeen”.
    To these big boyz on Wall St we are nothing but cattle to be processed.
    Time for a revolution here or we will all end up as Soylent Green.
    Quotes:

    “One thing Wall Street knows is that to make money, you not only need asset prices to rise, they have to go down again – and up again, and down again. Without going down, after all, how can they rise up? The more frenetic the price fibulation, the easier it is for computerized buy-and-sell programs to make money on options and derivatives. What is being planned today looks like a similar up-and-down movement in real estate.

    The first trick is to preserve the wealth of the creditor class – Wall Street, the banks and the other financial vehicles that enrich the wealthiest 1 per cent and indeed, the richest 10 per cent of the population. Stage One involves buying out their bad loans at a price that saves them from taking a loss. This is done by shifting the loss onto the “taxpayers” – labor, onto whose shoulders the tax burden has been shifted steadily, step by step since 1980, with the Greenspan Commission imposing an onerous Social Security tax on the middle class and using the proceeds to slash taxes on the higher brackets. Next comes an “aggregator” bank (sounds like “alligator,” from the swamps of toxic waste) to buy the bad debts and put them in a public agency. The government calls this the “bad” bank. But it does good for Wall Street – by buying loans that have gone bad – or perhaps nearer the truth, loans that never were good in the first place.

    The harder part is to revive opportunities for creditors to make a new killing. (And it’s the economy that’s being killed.) Here’s how I imagine the plan might work.

    Suppose a recent buyer has purchased a home for $500,000, with a $500,000 adjustable-rate mortgage scheduled to reset at 8 per cent. Suppose too that the current market price has fallen to $250,000 – a loss of 50 per cent by the end of 2009. After all, there needs to be enough time for prices to decline. Otherwise, there would be no economy to “rescue.” Mr. Geithner and Summers need to “feel your pain” to come out with the package that I’m describing. The government will swap “cash for trash,” printing new Treasury bonds (interest to be paid by “the taxpayer) in exchange for the $500,000 mortgage that is going bad, heading toward only a $250,000 market price.

    The “Bad” bank that the Obama plan decided was not quite ready to be created this week will take the form of a public/private partnership (PPP), of the sort that Tony Blair made so notorious in Britain. It will be financed with private funds – in fact, with the funds now being given to re-capitalize America’s banks (headed by the Wall St. banks that have done so poorly). Banks will use the money they receive from the Treasury for selling their junk mortgages at par – along with other bailout funding – to buy shares in a new $5 trillion institution. Something like Fanny Mae or Freddie Mac will be created and its bonds guaranteed (that’s the “public” part – “socializing” the risk). The PPP institution will start with, say, $3 trillion in funds, and will have the power to buy and renegotiate the mortgages that have passed into the hands of the government and other holders. This “Middle Class Homeowner Recovery Trust” will use its private funding for the “socially responsible” purpose of “saving the taxpayer” and homeowners by renegotiating the mortgage down from its original $500,000 to the new $250,000 price.

    Here’s the patter talk you can expect, with the usual Orwellian euphemisms. The “rescue the homeowners” PPP, a veritable Savior Bank, will go to a family strapped by its home mortgage debt and feeling more and more desperate as the price of its major asset plummets deep into Negative Equity territory. An offer will be made: “We’ve got a deal to save you. We’ll renegotiate your mortgage down to $250,000, the current market price, and we’ll also lower your interest rate to just 5.50 per cent. This will cut your monthly debt charges by nearly two thirds. You will escape from negative equity, and you can afford to stay in your home.”

    The family probably will say, “Great.”

    But they will have to make a concession. That’s where the new public/private partnership makes its killing. Its Savior Bank, funded with private money that is to take the “risk” (and also the rewards) will say to the family that agrees to renegotiate its mortgage: “Now that the government has taken a loss while we’ve let you stay in your home, we need to recover the money that’s been lost. So when the time comes for you to sell, or to renegotiate your mortgage, our Savior Bank will receive the capital gain up to the original amount written off. If we’ve made you whole, we want to be made whole too.”

    In other words, if the homeowner sells the property for $400,000, the Savior Bank will get $150,000 of the capital gain. If the property sells for $500,000, the bank will get $250,000. And if it sells for more, thanks to some new clone of Alan Greenspan acting as bubblemeister, the capital gain will be split in some way. If the split is 50/50, then if the home sells for $600,000, the owner at that time will split the $100,000 further capital gain with the Savior Bank. The Savior Bank will thus make much more through its share of capital gains than it extracts in interest!

    This plan will be even better for Wall Street than the Greenspan bubble was! Last time around, it was the middle class that got the gains. To be sure, it really was the bank that got the gains, because mortgage interest charges absorbed the entire rental value. But at least homeowners had a chance at the free ride, if they didn’t squander their money in refinancing their mortgages. And many did use their homes “like a piggy bank” to support their living standards.

    But this time around, Wall Street is not obliged to make its money by making middle class homeowners rich. Debt-strapped homeowners are willing to settle merely for a plan that leaves them in their homes! It can get for itself the capital gains that have been the driving force of U.S. “wealth creation,” Alan Greenspan bubble-style.

  51. nah

    This began a great struggle to see which way our nation would go. Dr. Martin Luther King and a host of great hearts and great minds within the minority black community endured tremendous dangers and death in order to gain the right to vote, to own property, to live wherever they chose. Bit by bit, these priceless freedoms were won.
    .
    the blacks are some stand up folks
    .
    not that whites and blacks are the same in any sort of way… but the fact that the US is our home is prominent and deeply embraced… lots of blacks work a good hard day and understand that all that most of us really have anyways
    .

    .
    each other

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