Confidence and Legitimacy

Mr. Summers, the former U.S. Treasury Secretary and now advisor to the President, claims "what we need today is more optimism and more confidence." Unfortunately for this agenda, a crisis of legitimacy for the political and economic system is taking place, which dampens the citizenry's optimism and confidence.

The USA is looking more and more like a kleptocracy these days. The government sends trillions of the people's money directly into the hands of banks. Most Americans are neither major shareholders nor executives of banks, so this largesse is of little use to them. However, it is a great deal of use to said major shareholders and executives.

Meanwhile the masses whose money has been appropriated by the government are not doing so well financially. Banks are not helping the economy recover - in fact they are doing the opposite by raising interest rates on loans, cutting existing lines of credit, and making new loans harder to get.

The American household is under seige on many fronts, and the collusion of the governement and the banks seems a tad hostile. Perhaps the citizenry is docile and obedient, and will take the abuse without complaint. But in any case, they are not going to feel particularly 'optimistic or confident'.

The era of deluding the wage-slaves and debt-slaves into believing they have access to 'the American Dream' is over. The masses will either carry on like whipped dogs (our opinion) or rebel (Mr. Gerald Celente's opinion), but the optimism and confidence that ensnared them and ultimately enslaved them has flown forever and cannot be recovered by exhortations of the Administration.