Why Bobby Kennedy is the man to restore American Fiscal Leadership, and turn Pottersville back into Bedford Falls.

Robert F. Kennedy Jr. is the one man who, like George Bailey, will not compromise American principles for personal gain. A servant for the greater good of all Americans, something truly rare in politics. Continuing the legacy of his father and uncle…

The Main Street-Wall Street disconnect is, by almost any measure, beyond comprehension. With it, trust in our institutions is at an all-time low. This merits explanation, and certainly exploration. We the people have a moral imperative to understand the nature of this disconnect so we can regain the path of our dreams. Most people, including so-called ‘pundits’, have exhibited a strange form of benign neglect, as if their intelligence and common sense have been hijacked by some tribal demon.

We can say with certainty that the two-headed duopolistic monster known as Team Red/Team Blue, a/k/a the Uni-party, has become a vehicle for the privatization of gains for the few, and the socialization of losses to be shared by the 99%. The gains for the top 1% have left the Romans blushing, while the financial burden placed upon the masses grows exponentially. It is not so much opinion as it is math. We can measure it simply by visiting USDEBTCLOCK.org. Commensurate with this debt is the other side of that coin- Extractionism by the few.

Take CEO compensation. According to the Economic Policy Institute, CEO pay has skyrocketed over 1,400% since 1978 and is now nearly 400 times what the average workers earns. Not long ago, this ratio was 20-to-1. This system of Extractionism leads to all kinds of societal problems, including social unrest, feudalism, depression, suicide, drug and alcohol abuse, and adverse health outcomes, just to name a few. 

To those like me who once saw the model of Capitalism as something more noble, we need to understand how things went off the rails- financially, politically, and socially. Bobby Kennedy often talks about Capitalism having to be “harnessed to a social purpose”. We lost that sense of purpose long ago and replaced it with “financialization”. Now it is time to reclaim social purpose; it is time to restore dignity, freedom and respect to our monetary system- with CAPITAL, not credit.

When the U.S. went off the gold standard in 1971, it was meant to be a ‘temporary’ way to deal with trade imbalances. There were valid reasons for Nixon to do that, but as we often see in the beltway, temporary has become permanent. Over time, and fueled by the repeal of Glass Steagall in the late 1990s, the ensuing credit boom has led to unprecedented imbalances and stress on our system. How did we get to federal debt of 123% of GDP? Who can really even say what GDP is any more? How did we go from a world of sound money, as exemplified by George Bailey’s Building and Loan, to a near financial train wreck that resembles Pottersville?

First, we used our new Devil’s Playground known as Dollar-based credit to party like it was 1999. A grand delusion developed: that we were healthier and wealthier than we deserved, or that we merited. We conflated the terms Assets and Equity as if they were one in the same, with no regard for the liability piece. As it turns out, that “credit” eventually has to be repaid- some way, somehow. A four-year-old knows this, George Bailey knew it, but today’s grown-ups seem to have forgotten.

Until 1971, Gold served as an anchor, much as it had for every currency, ever. For the next two generations thereafter, our status as the world’s reserve currency (the U.S. Dollar essentially replacing any gold backing) led to an historic credit explosion. Why? Well, the simple answer is that we could get away with it for a while. With our economic status and military might, who could reasonably object? We were the world’s Superpower. It was such a debt explosion, in fact, that the Federal Reserve has had to expand its balance sheet to unrecognizable heights just to begin offloading the bad credit we are stuck with. Our Federal debt is $33.9 trillion (it is only Tuesday!). 

For over 40 years, politicians have been selling their souls to the money devil to be elected, re-elected and to increase wealth and power- i.e., Cronyism. Corporations shower them with donations, perks, and a revolving door into a cushy role in the private sector. They sold out future generations. The electorate (voters, taxpayers, you and me) has shown little or no interest in demanding fiscal responsibility, so why should the politicians? Indeed, there is culpability everywhere. It’s been a generation of entitlement and gratification. Until now, that is.

As of today, we are on a path which may result in the end of the stock market as we know it, and the onset of Statism as a replacement of Capitalism. The real wealth will likely be privatized. The stock market is turning into a distribution channel for the consolidation of wealth and power, rather than a vehicle for capital allocation and wealth creation. There is ample evidence to support this. Corporate Welfare is closely tied to Fascism, which appears to be where we are heading. That scares me. Ironically, most of those who are leading us there are convinced they are fighting against it. Fight the monster by becoming the bigger monster? Fight tyranny with greater tyranny? It’s a script I wonder if even Shakespeare could contemplate. At least Frank Capra did. 

Enter Bobby Kennedy, a man who has spent his entire adult life standing tall in the face of adversity, whose fearlessness, grit, and moral compass has turned life around for countless Americans. There is no one Bobby will not help, except those who seek to take advantage of you. If there is any doubt in one’s mind about this, please visit Kennedy24.com/about and experience the man’s track record. The Number One agenda item for Bobby’s presidency is to unravel corporate capture and the incestuous relationships existing between government, corporations, and the agencies that are supporting the very behemoths they are supposed to be regulating on our behalf.

A pure Capitalist understands the importance of harnessing capital to a social purpose, not engaging in a wealth confiscation scheme. His track record says it loud and clear: Bobby IS that person. Because he represents the very best of the Kennedy persona, he is automatically attacked and smeared ruthlessly by those who are threatened by him. “A candidate who represents Power to the People? We can’t have that! Let’s unleash our propaganda machine on him, using our press minions to shame him”. That is all they know. That is their plan for retaining power. It will only work if WE THE PEOPLE allow it to work. 

We need to rally around Bobby just as the people of Bedford Falls rallied around George Bailey. If we do that, we have a good chance at restoring a wonderful life in America. Bobby Kennedy’s message to Americans is: “I’m going to give you your country back, but I need your help to do it.” So, I implore you: help Bobby to help us. Get involved at People4Kennedy.com

With love, Paul