Most commenters focus on the political flaws and pose well-mannered economic critiques of American policy depending on their "political side", but they never ever dig deep enough for the real truth. In the beginnings of American history and at the time, the forefathers knew full well the urgent problems and dangers with the banks and the financial elite and so they installed and ensured a protective Constitution. At the time America was a Republic, but now she is always referred to as a modern Democracy, wherein, and since the time of Lincoln and the American Civil War, the elite have been completely in charge. So now the Constitution -- a much revered and respected document for the Republic -- has been quietly retired from history and is now, in its actual application, as forgotten dust, more or less.
I have always found it odd that no one in America has ever seriously questioned the ongoing interest-free handover of taxpayer's money to the banks by the Fed through QE. And I guess the US government completely forgot to fully dictate -- as it should have done in the circumstances -- exactly how the banks should use this borrowed money in order to achieve a proper recovery from the Great Recession. But, instead, they just conveniently forgot to install the necessary checks, balances and full accountability along with this lending to the banks. And no citizen has ever been able or allowed to successfully question or criticize these policies with any effect and it matters not whether from the Republican or Democratic side. The earlier concepts of the forefathers and that creed from the republic -- whereby Governments should always fear their citizens is also long dead in the stale waters of democratic political excess. In fact, ordinary American citizens feel directly the opposite -- indeed, they fear their own government now. US Government reps these days are simply too busy coining it from their private lobby deals to be that bothered. No, if there is to be any significant change or any political disassociation from the influence of the banks and the elite, it must come from the core groundbase of society outside of politics where the citizens must once again move to assert their proper authority, in order to re-install and re-assert the lost principles and tenets of their Republican forefathers.
I have also sadly observed how, particularly, China has constantly out-performed America in this recession. People should be wondering and considering deeply why this is so because it is very significant. When Obama handed over those trillions to the banks via TARP and QE, the banks totally ignored his wishes to lend. They certainly didn't lend -- they either bought US Treasuries for their own self-protection or simply threw their borrowings all out onto the markets(as Obama certainly hoped they would), to give a false indicator of recovery from the markets -- such is the nature of our so-called freedoms within democracy today. Hence America has failed miserably and completely to come out of the Recession after 4 painful years. This ongoing and miserable economic outcome thus far is, perhaps, as yet another product of weak and ineffective leadership soft government policy and open electioneering panderings that have been, once again, so heavily influenced by the pretenders of freedom, democratic corruption and excess.
Now let's compare China, whose democracy differs in that all their utilities and banks are nationalized, owned and run buy the Chinese Government. Similarly, China threw out trillions to her banks with stiff orders to lend without fail. Within days, the Chinese banks were lending huge amounts and within just over a year China had happily zoomed out of her recession on turbo. So, what are the lessons her e? That the Chinese banks completely obeyed their government and lent profusely was completely driven by the Chinese government's fear of rebellion from her citizens. We can also confirm that Chinese banks, e most succesful outcome, because of thalthough nationalized, are most definitely not as yet under the thumb of any financial elite or oligarchy. By the way, I'm not arguing about who is responsible for the gross world imbalances here -- or any other ripe Geithner propaganda crap. I'm just asking which government -- the US Government or the Chinese Government -- actually acted and performed responsibly and more honestly in the full interests of its own citizens.
The US Government will always continue to ignore the wishes of her citizens in order to evermore fully support and pursue the wishes of the banks and the corporate elite. Sadly, the majority of Americans accept this gross influence of government by the elite as completely normal now. And the few that do object are completely unable to do anything about it, or affect change because they are simply and so easily ignored or muzzled. This is what American Democracy is all about today -- a form of badly disguised feudal corporatism. All government activity is enacted only for the full and sole benefit of the big financials and corporations. Political argument simply cuts no ice here, this is a simple distraction for the idiot masses, so Big Biz will therefore always win, such is the now painful nature of the American Way.
And, meanwhile, the forgotten Republic ever remains dead, buried and entombed by the stale and rotten crust of this modern and corrupt democratic process, a stunning albeit hardly-noticed victory by the financial and corporate elite. Yet the Ghost of the Republic -- Of truths and freedoms still must persist as the only far distant hope for her plagued, ragged and thoroughly brainwashed citizens.