Wednesday, November 10, 2010
Where Are the Unions On Quantitative Easing Deux?
With the ongoing move by the Federal Reserve to devalue the U.S. dollar in what is called Quantitative Easing 2, they are, in essence, destroying the value of a government worker and retiree’s check. It was no surprise that in New Jersey when the new Governor Chris Christie attacked the union contracts he was fought tooth and nail when he suggested cuts. They went as far as to threaten his life before it was all over.
Now, where are the unions when the Federal Reserve with one fell swoop gives them a pay and retirement cut by devaluing their checks? Why aren’t they demonstrating outside the Reserve? Why isn’t the SEIU out there taking bus tours to all of the members' homes with loud speakers? Are they ignorant to what’s happening to them? Probably. Is the President they love so much causing this devaluation? So why aren’t they outside the White House demonstrating against the “chosen one?” The people who run the unions are not stupid and they have professionals that run all aspects of their operations and yet they turn the other way while all of this is going on.
Could it be that the fix is in and that the Federal Reserve and the unions see the handwriting on the wall? Do they already know that the American economy is toast and that the American standard of living is about to experience a shock to the system that will leave it looking more like Russia than “The City on a Hill?” Time will tell, but in the meantime America seems to be going through a sausage machine with an outcome that won’t be recognizable.