Government-Controlled Economy. The deed is definitively done!! The Obama administration has just taken the decisive steps that transforms the American economy into a government-controlled economy.
First, yesterday the Obama pay czar, who by the way has no constitutional authority, cut bank executives salaries by 50%.
Today, the Federal Reserve exercised its newly found enforcement powers to aggressively regulate compensation at thousands of lenders.
The Wall Street Journal observes (page one, today): "...[the] separate announcements by the Federal Reserve and Treasury Department represent unprecedented federal intervention in pay decisions traditionally left to boards and shareholders." [!!!!!]
Thus, a central aim of the cryptocracy is achieved. The economic crisis was precipitated in part to centralize, economize and control the corporate entities that are siphoning off way too much money for salaries, etc. That income is supposed to go to the cryptocracy.
And so, the United States now has an economy that in formation looks like that of the Soviet Union.
Most Americans are unaware how much life in the country has actually changed. Unlike a generation or two ago, Americans are now hemmed in by regulations, controls and bureaucracies that govern every aspect of life. Employment compensation is now under the thumb of the Fed and the czar. The medical profession is bound by insurance rules that affect every person. 'News' of the world is strictly governed by a few media giants that tell anything but the truth. Acknowledgement of the ten commandments and other religious symbols as foundations of civilization are forbidden. The government even aspires to tell people what constitutes a marriage.
Along with the soviet-ization of the country, Stalin-like behavior and tactics in politics are becoming prevalent. Kimberley Strassel has an excellent column today on this growing phenomenon, although she doesn't call it Stalin-ization. Titled "The Chicago Way," it is a must read. The best quote is the lead sentence: "When Barack Obama promised to deliver 'a new kind of politics' to Washington, most folk didn't picture Rahm Emanuel with a baseball bat" [!!!!!]
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