The ideology of a cancer cell

At the source of the cancer in the US, govt. subsidised lenders like Ally Financial, are now placing mortgage subsidiaries into bankruptcy because they are still feeling the effect of loans written a decade ago. Mortgages are lifetime loans.

The treatment for this cancer so far, has been to deliberately spread it and the risks it carried, to every other part of the global and domestic economy, public and private. So it can continue to extract growth and avoid anyone noticing the death and colonisation of its primary host. Without any regard for the real global economy it exists within, beyond opportunities for maximising its own growth.

Surgeons cut with precision, after carefully gauging the health of the patient with a nuanced exploration that is intuitive. With gentle fingers gauging tissue to guide action, while they monitor vital signs with a back-up plan and a team to assist. Only if they are sure it will not harm the patient does he cut, and he protects the patient from the immediate effect while fixing the problem. This cancer demands government hack at the patient on a whim, its demands traditionally delivered for Uncle Sam by the IMF. With the changing flow of global capital, who knows on whose behalf the IMF acts?

Oblivious to the reality of the economy that sustains our financial and political cancer, we have deliberately aggravated every crisis that would affect people’s ability to service debt, as a way of creating more.

A cancer will grow until it kills the patient stone dead or the patient has it removed. That banks can file bankruptcy to let go of that risk, after spreading it to everywhere else, is criminal. But a valuable lesson for holders of unsecured debt and secured debt, as our understanding of how power is exercised changes. One that is fundamental to understanding how the next year will play out.