Published on AxisOfLogic, by Arthur Shaw, Sept. 24, 2008.
George W.Bush, the leader of US reactionaries and genocidal monster in Iraq, rushes at breakneck speed to rescue the still supremely wealthy but debt-laden financial sector of the US bourgeoisie.
The financial sector of the US bourgeoisie is most likely the sector of wealth and privilege that is most infested with GOPs; so, this sector is something of a political base for Bush and, his pal, John “the economy is fundamentally sound” McCain.
Bush proposes that the US people take on the sector’s debt and let the largely GOP financiers in the sector hold on to their assets.
For starters, GOPs guesstimate that the sector has a debt of over 700B, perhaps a lot more. So, Bush … and McCain … want to give the rich GOPs 700B.
Where will the 700B come from?
The 700B will come from the US and foreign bourgeoisie, mutual, hedge, and pension funds which buy bonds and notes issued by this bourgeois regime over the US people.
Who pays off the 700B loan with interest?
One thing is for sure, the financial sector that gets the 700B doesn’t pay it off.
The debt of 700B will be a debt of the GOP-controlled bourgeois regime and the US people pay the debts of the bourgeois regime above them.
How much will a loan of 700B really cost? … (full text).