Ben Bernanke today said the US was becoming a Banana Republic. He said Bill Clinton’s payoff from Dubai showed that US leaders take bribes for 3rd world immigration that pushes down wages in the US and world wide. The US has created a 3rd world population bubble to take down wages everywhere.
Bernanke said the Congress and President were corrupt and selling out to special interests by 3rd world immigration. He said the best technical education goes to people from India and China and not to Americans. Bernanke said teaching those from India and China in our Ph.D. programs instead of Americans was creating a know-how deficit, we were giving our know-how away.
The know-how deficit then leads to the manufacturing deficit, they build products with out know-how and their wages and the result is our manufacturing disappears. The result is we lose our good jobs and our low end jobs. Bernanke noted that men’s median wages were the same as in 1973 and women’s median was the male median in 1960 which illustrates the point.
Payoffs from Wall Street show it as well. But these payoffs help the current CEO but hurt the company later. The result is the companies fall apart as their know-how ends up India and China. We need to close our borders to the know-how deficit, teach our kids in our Ph.D. programs, and protect our industries to re-industrialize America.
During WWII, the Morgenthau Plan proposed to deinustrialize Germany. Bernanke said we implemented the Morgenthau Plan, but on America. Bernanke said what we would impose as victors we have imposed on ourselves.
In 1944, Morgenthau proposed the Morgenthau Plan for postwar Germany, calling for Germany to be dismembered, partitioned into separate independent states, stripped of all heavy industry and forced to return to an agrarian economy. The Morgenthau plan is by some thought to have been devised by Morganthau’s deputy, Harry Dexter White.
Bernanke said the Congress and President and ultimately the public had chosen 3rd world immigration and had to face the consequences. Bernanke said the Fed’s job was to deliver consequences when the Congress and President sell out the present and the future.
Bernanke said the Fed’s job was to keep the dollar sound even while Congress and the President turned us into a 3rd world country with low living standards. We are importing poison from China in physical form and a trade deficit. Cheap goods are used to avoid reality. But that is passing.
Bernanke said the Fed would raise interest rates to defend the dollar and to send a message of consequences home to the voters this year. The message is that Congress and the President have betrayed them with third world immigration and its consequences of failing schools, falling wages, know-how transfer and the loss of America’s identity.
Bernanke said America was importing the lowest morals on earth and it already showed in the Clinton Dubai payoff. Bernanke said no more easy money to the crooks in Wall Street or Congress or the K Street Lobbying Corridor. Bernanke said the people have to know that by allowing 3rd world migration they have damned themselves. They have condemned themselves to a 3rd world life. Better to learn it during the election than later.
The above is spoof. Actually Bernanke gave Wall Street and Congress what they want in an election year, easy money to cover up their scams on the public. The CEO Presidential axis of stealing continues funded by the Fed. Bernanke is paying Wall Street bonuses and those pay the contributions to Congress and the presidential candidates. The magic circle of money that keeps America falling.