‘with a double heart do they speak’ Psalms 12:2
Vol: 10 Issue: 21 Sunday, July 21, 2002
Hopefully, yesterday’s Omega Letter dealt with the issue of what partisanship is. This morning, we’ll follow up with a look at what partisanship does in America. Or, rather, what it does to America.
Continuing The Crisis of Confidence
I confess to be staggered with the ease with which America’s politicians can speak out both sides of their mouths, while simultaneously drinking water and humming ‘America the Beautiful.’
But I am thunderstruck by how well it works — even when I am watching them do it. I often have to do a reality check: look at all the available information, piece by piece, comparing deeds to words carefully, just to make sure I’ve not slipped over the edge.
When it looks like a duck, walks like a duck, quacks like a duck, but everybody tells you it’s a chicken disguised as a duck, it’s good to go back and examine the Audobon Society’s Photographic Essays of ducks first. Makes you feel better.
The ‘crisis of confidence’ occurs when the consumer doesn’t believe his investments will pay off in the market and so he sells off and gets out, taking his cash with him.
We discussed what happens when too many receipts compete for the available gold on deposit in a previous issue.
Exploiting The Crisis of Confidence
The following is a statement from DNC Chairman McAuliffe on Vice President Cheney and Halliburton:
“Vice President Cheney should explain to the people of Houston why his company misled investors while he was CEO of Halliburton. The people of Houston know all too well the painful results of corporate accounting tricks.
“Vice President Cheney should spend more time explaining his business practices and the accounting tricks he used as CEO of Halliburton and less time raising money for the Republican Party.
“Restoring investor faith in corporations is vital to getting the economy moving in the right direction. The administration has to come clean on questions surrounding their business practices before the American people take them seriously on corporate responsibility.”
Creating the Crisis of Confidence
In the late 1990s, some of McAuliffe’s business ventures came under investigation by the U.S. Department of Labor, which filed suit against two labor-union officials, both of them with the International Brotherhood of Electrical Workers pension fund, for entering into questionable business arrangements with McAuliffe. Both officials later agreed to pay hundreds of thousands of dollars in penalties for their actions, and the union itself had to reimburse its pension fund by nearly $5 million.
The lawsuit that details McAuliffe’s dealings with the electrical workers’ pension fund is Herman v. Moore, filed in May 1999.
According to Herman v. Moore, on November 19, 1990, the fund entered into a partnership with a firm called American Capitol Management Company, which was owned by McAuliffe and his wife, Dorothy.
The purpose of the partnership, according to the suit, was “to acquire, hold, improve, lease, operate, and sell a shopping center and various apartment complexes located in central Florida.”
McAuliffe and the fund officials created a partnership to buy a large block of commercial real estate in Florida. McAuliffe put up $100 for the purchase, while the pension fund put up $39 million.
Yet McAuliffe got a 50-percent interest in the deal; he eventually walked away with $2.45 million from his original $100 investment. In another instance, the pension fund loaned McAuliffe more than $6 million for a real-estate development, only to find that McAuliffe was unable to make payments for nearly five years.
In the end, the pension fund lost some of its money, McAuliffe moved on to his next deal, and fund officials found themselves facing the Labor Department’s questions.
The Gilded Lily Award
Democratic Congressional Campaign Committee executive director Howard Wolfson flatly declared that the party had found its magic bullet this week.
According to the Washington Post, Wolfson believes ‘every single Republican up for election will be on the defensive this November on the issue of corporate responsibility, while “I can’t think of a single Democratic candidate who would be vulnerable on this issue.”‘
If ever a quote deserved to win the Gilded Lily Award, it would be that one. ‘Not a single Democrat vulnerable to charges of corporate responsibility.’
Just what we need to fix the economy! Corporate irresponsibility in our politicians!
Economy Isn’t Partisan
Whether or not the economy tanks due to a crisis in confidence is an issue that transcends — or should transcend — party politics. Cheney’s relationship with Haliburton doesn’t prove anything except that he was part of the same corporate structure as the head of the Democratic Party. Bush’s Harken Oil deal is even thinner than that. It only proves that he was less skilled a corporate raider than most.
(The Harken stock Bush sold doubled in value a year later.)
The fact is, even if Bush and Cheney were typical corporate raiders when they were private citizens, they are no longer private citizens.
And the allegations against them are far less egregious than those that could be leveled against Terry McAuliffe, Senator Jon Corzine or than those which have already been leveled and disposed of by the courts.
The DNC has undertaken to make the economy a campaign issue by presenting Bush and Cheney as corporate raiders who can’t be trusted to oversee the economy.
They intend to accomplish this, as Wolfson pointed out, by attacking corporate America, hinting that all CEO’s are crooked and so is the Executive Branch of government.
In what way will that help restore confidence in American business, reverse the slide, restore the jobs lost by layoffs as investors flee with their money and put it in offshore investments?
This is what partisanship is. It has nothing to do with what is best for America. Partisans couldn’t care a fig for Americans unless they are members of their particular partisan cabal. We saw examples of how partisans care for individual Americans during the Clinton years. Lives were utterly destroyed to achieve partisan objectives on both sides of the aisle.
It isn’t about you. It’s about them. It isn’t a secret. Everybody knows what is foremost in the mind of a partisan politician on Election Day. The next election.
Here’s the power of propaganda. Corporations and businesses who ran the market up to the dizzying heights achieved during the Clinton administration got caught short during the Bush administration.
That’s history, not partisan propaganda. The stock bubble burst in March, 2001, less than forty days after Bush assumed office.
If one buys the propaganda being handed out, all the crooked executives prospered under Bush’s watch. At the same time, out the other side of their mouths, the partisans say the economic downturn was Bush’s fault.
Follow me here: Bush/Cheney and the corporate raiders were the ones behind the Clinton economic miracle while simultaneously being the architects of its downfall, (said downfall timed to occur as soon as they assumed office, presumably)??
Here’s the interesting thing; nobody is questioning the circular logic necessary to make it make sense.
Instead, the public grows more confused, less confident and more inclined to just pull out of the market until the dust settles. That continues to exacerbate the decline, which in turn lends an air of legitimacy to the partisan argument that in effect is asking America to put the real foxes back in charge of the henhouse.
Revelation Chapter 13 tells of the antichrist’s total control over the world’s three most powerful institutions; the global government, the global religous systems and the global economy. He achieves control of all three using a single tool. Deception.
Are we ready for the most prolific liar, the most masterful and charismatic deceiver the world has ever known?
In what kind of world would an entire population surrender total control over to someone whose only claim to power rests in his power to deceive?