News & Analysis
Blame Republicans for the Depression
Two fresh news items arrive to remind us again how extreme today's Republican Party is in both its policies and its tactics. If on this point I'm getting to sound like a broken record (when will we have to retire that metaphor?), sorry, but I'm not the one who cracked the vinyl. So I'll tell it and think it and speak it and breathe it, as the song says, until that fabled hard rain falls and washes these reprobates out to sea.– Daily Beast, Michael Tomasky
Dominant Social Theme: Party infighting is dooming America to a Great Depression.
Free-Market Analysis: Michael Tomasky, a fairly partisan columnist for the Daily Beast, has written a column called "The Party of Predators" (see excerpt above) that supports the idea that America's economic difficulties are aggravated by a lack of cooperation between the Republicans and Democrats.
This is a kind of sub-dominant social theme, that the US's fiscal and monetary situation would be much better if only America was supported by the kind of wise, elder statesmen that the electorate used to send to Washington DC. In fact, such backward-looking reminiscences are specious and confusing.
Once upon a time, America produced 50 percent of the world's finished goods and bestrode the globe like a colossus. But that was after World War II, when almost no other significant industrial force confronted the US. It was thus easy to be a statesman, especially in the mid-20th Century.
You just had to keep your mouth shut and let the ole globe keep spinnin' along. One, in fact, only had to accept the corporatist, monetarist, militarist status quo and pretend that America's prosperity was the result of its "free-market" makeup rather than the continental decimation of two world wars.
Of course, that was then and this is now. Something has gone terribly wrong with the American exception and with the Western paradigm for prosperity generally. We have speculated that this unraveling is premeditated. The great central banking families that want one world government seem to be driving the West toward bankruptcy in order to get their way.
Yes, perhaps the economic degeneration will not cease until global governance is achieved. People will be forced to cry out in grief and pain, accepting the political, monetary, military and judicial centralization that is being planned. They will be driven toward one world government like beasts herded toward an abattoir.
Is there some other explanation that makes sense? This economic system with all its dysfunction and ruin is premeditated. It didn't just "evolve." There are central banks all over the world now, where 50 years ago there were not. Most of these report to the Swiss-based BIS. And what the heck is the BIS? Most people know more about their favorite pop stars and sports heroes than this pre-eminent organizer of international finance.
Did you ever hear a news item about the BIS? Did you ever see a reporter standing in front of the BIS, explaining what was going on inside? The BIS may as well not exist. It is part and parcel of a system that does not explain itself, or the truth of its evolution or the calculated reality of its increasingly Draconian actions.
In the place of reality, numerous memes are floated to explain the inexplicable, expanding ruin of the world. One such meme is that capitalism itself is unstable and prone to systemic breakdowns. Another is that the systems in place have not yet been perfected and more globalism is the cure.
And then there is the idea that bickering, dysfunctional leaders are causing the problems afflicting the world today. This theme is one that is promoted on and off, depending on the news events of the day. When events seem to justify it, the theme is rolled out to distract people from the real destruction that is taking place.
The real destruction has to do with an almost pathological (at this point) overprinting of paper money. Combine this debasement of currency with sky-high taxes of up to 50 or even 75 percent in some Western countries, along with a tidal wave of regulations drowning what is left of any small entrepreneurial glimmers in America and Europe and you have a recipe for ongoing global ruin.
We are not supposed to notice. We are supposed to blame the unraveling on other issues. In America, one such issue is the partisan divide between Democrats and Republicans. Tomasky is good at reporting on this divide and writing columns about how political partisanship is helping to wreck the US economy.
Tomasky has picked sides. In many of his recent columns at the left wing Daily Beast run by British import Tina Brown, Tomasky rails against Republican intransigence. The problems in the US, he tells us, would be alleviated with a dose of bipartisanship that Republicans clearly reject.
In this article, in particular, Tomasky is in fine form, calling the Republicans the "Party of Predators" and listing ways that Republicans are obstructing the business of government. In his column, he focuses on two issues. First is the difficulty that California Governor Jerry Brown is having in balancing the California state's budget.
Tomaksy points out that Brown had proposed a "perfectly fair solution: $12.5 billion in cuts, and $12.5 billion in revenue." Brown got the cuts but is upset that Republicans are refusing to raise revenue, perhaps through tax hikes.
Then there is the letter sent by senior, federal GOP officials to central banker Ben Bernanke, demanding that he cease to aggressively expand the money supply. Expanding the money supply – were currency to actually circulate – can give people the impression that they are wealthier than the really are. Their bank accounts swell, and only later does price inflation and business failure become a problem. Tomasky, however, believes in such pump priming and he is indignant that Republicans are seeking to prevent it. Here's some more:
In The New York Times, Adam Nagourney reports that California Gov. Jerry Brown has been shocked at how different the state's Republicans are, on both tactical and substantive grounds, from how they were during his first term back in the 1970s ... That's just normal Republican crazy. Our second item is abnormal Republican crazy, even for this infamous bunch. The four GOP congressional leaders – John Boehner, Mitch McConnell, Eric Cantor, and Jon Kyl – sent a letter to Fed chair Ben Bernanke warning him against further intervention in the economy.
They released the letter the day before the Fed is to announce its next steps Wednesday afternoon. "We have serious concerns," the letter said, "that further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy." What that sentence actually means, of course, is that they have serious concerns that an interventionist monetary policy might help the economy in the next 14 months, and thereby help Barack Obama's reelection chances.
From Robert Reich, on his blog: "To say it's unusual for a political party to try to influence the Fed is an understatement. When I was Secretary of Labor in the Clinton Administration, it was considered a serious breach of etiquette—not to say potentially economically disastrous—even to comment publicly about the Fed. Everyone understood how important it is to shield the nation's central bank from politics."
In the face of things like this, it's supposed to be controversial that Obama has decided to stop trying to meet the Republicans halfway? Meeting today's GOP halfway is like letting a sexual predator take your clothes off. You haven't been touched yet, but things are unlikely to end happily for you. Jerry Brown has learned the hard way.
Tomasky is righteously indignant, but from our point of view the problems the world is facing have little or nothing to do with a lack of leadership – even Republican leadership. This seems a hoary old chestnut promoted by the powers-that-be – that sociopolitical and economic failures stem from not having the proper wise men in power. It justifies top-down, command-and-control systems like central banking.
Tomasky is paid to disseminate this sort of meme, but we don't have to believe it. Unfortunately, if he and others like him are effective enough, perhaps at some point in this weary world's travails, a new and charismatic leader shall rise up to "lead" us to a better place. It's happened before; the elite families are happy to sponsor these sorts of destructive individuals, to fund them and help them on their way to the top.
Of course, it inevitably ends in tragedy. The best government governs least and the free market and the Invisible Hand itself are the inevitable defining elements of prosperity. Interfere with them and you have only misery and, eventually, violence. Violence (war) is doubtless on the way ...
Conclusion: Tomasky believes the US economy can be "fixed" if the Republicans would just stop playing politics and become less obstructionist. In fact, the world's woes have nothing to do with a lack of effective leadership. The problem is as always a plethora of leaders and a corresponding lack of freedom. But that's a counterintuitive idea and one the Daily Beast – led by British royalty worshipper Tina Brown – will never embrace.
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Posted by acudoc on 09/24/11 01:17 AM
Google Hugo Salinas Price Gold as the Generator and Protector of Jobs
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Posted by acudoc on 09/24/11 01:16 AM
Wrong link! Or it got corrupted somehow.
Click to view link.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=161
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Posted by acudoc on 09/24/11 01:15 AM
The ongoing debasement of money debases the culture incrementally. The two processes seem to go hand in hand, as evidenced by history. The change began to gather appreciable momentum in the 70s, and for a very good reason:
Click to view link.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=161
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Posted by DidiM on 09/23/11 06:28 PM
Re: "Reply from The Daily Bell
Well, DidM, you have come to the wrong place. Huffington Post, Newsweek, the Daily Beast are all available for your reading pleasure. There you will find much to make you comfortable. High taxes, drone attacks on defenseless people, policies leading to inflationary depressions - all of these are endorsed at such web sites and professional blogs. Tina Brown is especially adept at organizing rhetorical encomiums for such policies. Go there and be comforted."
Does that mean The Daily Bell only accepts/tolerates readers/posters who agree with the writer of the article? And invites those who dare to disagree to leave? Er... what was it you said about... freedom - or did I miss something - like this Papers Mandate that warns readers - "disagreeing with the author is not tolerated" ?
For those who didn't read my post here it is: "Sorry Staff Report, I totally disagree with your article stating it's, "... .a plethora of leaders and a corresponding lack of freedom". But then again if one looks at it from a 'Domestic point of view', then you may just have hit the nail on the head!
The 'plethora of Republican leaders - "..lack of leadership", that continues to this day, that's not only been instrumental in creating the mess we are all in worldwide - and creating a, 'lack of freedom environment', for 8 very frightening and destructive years - that bankrupted the country and its worldwide chaotic ripple effect: has certainly proven - beyond any shadow of doubt - their hypocritical cries of 'less government' doesn't work, no? And why not say it as it is:
The Republican 'current mantra - of less government involvement - is nothing other than their promotion for the killer drug and insurance corporations that have and continue to RAPE the public of the little cash they may have left!! Free market, as you write it - is not quite as 'free as it seems', given the multi billions these same corporations are spending to brainwash the public that Government Health Plans are freaking evil! And that's just for starters of course.
Therefore I and pretty much everyone else I know - and of course every other civilized nation throughout the world that offers Universal Health Care also disagree with your solution.
Conclusion: Tomasky is right. Very, very, very right.
Reply from The Daily Bell
"Does that mean The Daily Bell only accepts/tolerates readers/posters who agree with the writer of the article? "
Our editorial policy does not preclude disagreements with ignoramuses who believe the solution to the world's current unraveling is ... more government!
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Posted by DidiM on 09/23/11 06:12 PM
Who was the Republican precinct official that told you that? Given the community is relatively prosperous - I'm assuming the vast majority are employed - or do they have a secret monetary source that supports them? And does your community not have an Unemployment Office - or is the problem that no one uses its services? And how on earth did it escape the unemployment (result of Republican 8 year rule of war and chaos) that creates the mile long line ups when a job is posted?
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Posted by DidiM on 09/23/11 06:04 PM
So rossbcan, how about giving us a list of these "best governments" that use your "Invisible Hand" - criteria. And while you're at it - perhaps a 'biography' of 'Lord Action' while you're at it. Anxiously awaiting your reply :):)
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Posted by DidiM on 09/23/11 03:17 PM
Sorry Staff Report, I totally disagree with your article stating it's, "... .a plethora of leaders and a corresponding lack of freedom". But then again if one looks at it from a 'Domestic point of view', then you may just have hit the nail on the head!
The 'plethora of Republican leaders - "..lack of leadership", that continues to this day, that's not only been instrumental in creating the mess we are all in worldwide - and creating a, 'lack of freedom environment', for 8 very frightening and destructive years - that bankrupted the country and its worldwide chaotic ripple effect: has certainly proven - beyond any shadow of doubt - their hypocritical cries of 'less government' doesn't work, no? And why not say it as it is:
The Republican 'current mantra - of less government involvement - is nothing other than their promotion for the killer drug and insurance corporations that have and continue to RAPE the public of the little cash they may have left!! Free market, as you write it - is not quite as 'free as it seems', given the multi billions these same corporations are spending to brainwash the public that Government Health Plans are freaking evil! And that's just for starters of course.
Therefore I and pretty much everyone else I know - and of course every other civilized nation throughout the world that offers Universal Health Care also disagree with your solution.
Conclusion: Tomasky is right. Very, very, very right.
Reply from The Daily Bell
Well, DidM, you have come to the wrong place. Huffington Post, Newsweek, the Daily Beast are all available for your reading pleasure. There you will find much to make you comfortable. High taxes, drone attacks on defenseless people, policies leading to inflationary depressions - all of these are endorsed at such web sites and professional blogs. Tina Brown is especially adept at organizing rhetorical encomiums for such policies. Go there and be comforted.
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Posted by ekim on 09/23/11 11:52 AM
How can America not be bankrupt? Here is the USA debt clock -
Click to view link
From what I can tell it does support your 200 trillion debt, and that is still just a piece or tip of the ice berg. They justify this by claiming future income from future social Security payers. IE they will inherit our debt in the future, That is nuts! It is like pulling money from the air.
How could they steal from the SS coffers anyways? It is not only stealing but treason right? Look at all the money that made this debt with a microscope and I will bet that only a very small part of it benefited the US taxpayer; We bailed out the Savings and loans (Bush SR - we almost have forgot that one) then the banks, large companies, and Wall Street. Now other things that just smell of stealing is medicare or medicaid where the pharmaceuticals, Hospitals, and Doctors have robbed the US taxpayer blind. How about the
Military, now I like the Military and I personally believe the USA should be more like Austria in that every citizen goes into the their military service for at least two years and they often learn a trade or find a job they like that leads to a direction to go in life. But I digress, so the USA Military I believe has been misused and bloated with super secret dark projects with upend dollar amounts that are off any recorded budget they are in the dark or we are in the dark, you know $1900.00 for a hammer and 2600 for a toilet seat etc.
This list goes on and on so I will not go there but you get the point '200 trillion not the 14 trillion everyone on the news focused on. So I postulate that we are now and have been very broke or bankrupt for a long time. In fact they use or national parks and farmlands as collateral in dealing with the IMF, I bet you did not know that? If the IMF declares Force Majuer than we are done right there and everything you thought you own is now theirs.
The rich don't have to worry about that day for they have villa's in Spain or chalets in Sweden, they will go to their money if the crap hits the fan here. Now I think this proves that our leaders do care about the business man here in the states for they kill that man when they past NAFTA and the likes ending the tax tariff at the border for goods brought in from oversea's this means the American business man or woman has to compete with a china company paying its workforce .50 cents a day. They knew what they were doing. This whole thing has been like a Broadway act being played just like a recipe baking a cake.
They knew exactly what they were doing! They have destroyed America, I am sorry but I can see no other outcome than that, and once it falls there will be no going anywhere, no hoping the fence into Mexico or Canada. This will be a global twister and it will not be good in any way. People do not want to hear this, they live in denial of the facts.
The facts can be overwhelming; infrastructure (Old and Broken) Educational system (No Money, Schools closing, more like a daycare), Healthcare (once the best in the world now people go to China for Stem cell treatment, Broke busted smashed and they have a new pill for you every minuet, one more they are trying to hook everyone on pharmaceutical medications) Life or Well being - (everyone fears what is going on, that we are leaving this to our children, not a healthy situation) Environment (Main focus has been getting money to large utilities so they can build wind farms using large wind turbines made oversea's, etc and keep control in their hands and not the consumer, in other words they never focused on a green mini wind/solar power plant at home that provides the resident(s) with more than enough electricity and hydrogen fuel for their car (yes this is very possible you run electricity through water and H20 separates, any ways you get the point (Protect the rich and let the citizen eat urinal cakes)).
The Republicans they try to come off like they protect the small business man (remember he or she is dead see above) when in fact they really protect the super rich, it is like the .01 % of the population, so they dance around spread hate and distraction through tactics (wealth discrimination, Rich bashing, you should be ashamed!) they are lame, self important little men or lady etc. But the truth is they all just do for themselves and let the rest eat urinal cakes, Would you like another?
So if someone we all listened to said lets do a 300 million man and lady march to Washington is that legal? Yes it is. Now if they say and Hang many of them, is that legal? I am asking because "We the People" well they have been literally hanged out to dry up and blow away and I believe they somehow lost their spine a long time ago. So many here refer to people as sheep.
They are all a bunch of sheep and spineless weak unedumacadid hillbilly back water lame soft Vienna sausage dull obtuse gross unkempt human wasted flotsam (I love that word it mean shiet). Glen Beck ("Super Mormon Level 12 carries the Gold rings" for he has 5 years of food storage(what does he know?)) he marched with many to Washington and did he say "Lets Get them" or "Get a rope" ? Hell no Glen is a special guy and I am sure we would get along but when he deep ends his brain I would have to straighten him out a bit, Yea I'd hit him (or slap but not in a mean way) silly little baby chicken sister.
Anyways I am sure some of you will straighten me out, I just wish you wouldn't use the couch when you do it (he-he, oh that is really bad, I digress). I am EKIM and may God bless us all with the strength of moral judgement to do the right thing (if not for us for our children) unto those who are our evil enemies both within and throughout and with the righteous sword of God deliver them unto him for his judgment. a men...
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Posted by Don on 09/22/11 05:07 PM
news . goldseek . com / GoldenJackass / 1316721600.php link
Click to view link
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Posted by Mountainview on 09/22/11 03:02 PM
Republicans and Democrats, both expected the FED to produce the miracle. Yesterday the FED kicked the ball back to politicians by not producing QE3. If Washington will be unable to issue some "pact for America", disaster will be unavoidable. The stock market starts to point in this negative direction.
Corporations have to stop to export jobs overseas. This can be provoked by tax policy! Even if globalization would come to a temporary halt?
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Posted by Don on 09/22/11 02:51 PM
@EDD
I may be guilty of trying to force a square peg into a round hole, but it seems that sublime thesis, antithesis, synthesis may lurk within the GoldenJackass' take on the State of the Union:
"The USGovt is paralyzed by disguised fascist warmongers opposed by disguised marxist collectivists, but intent on maintaining the status quo among bank fraud."
Click to view link
Reply from The Daily Bell
Think you have the wrong link ...
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Posted by dotti on 09/22/11 01:52 PM
As I've said before, when central banks were created centralization became inevitable. Debt must always expand and the only logical next step is a world central bank, followed by world government. What can stop it?
Very succinct and to the point. Ayn Rand did not claim to be a seer--she just recognized human nature and the ways of this world.l
Wealthy families, however, IMHO start from early childhood teaching the young that they are above others. Their disappointments die in car crashes or drownings. (Probably not really. Just couldn't resist.)
Good Day to all. Interesting times.
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Posted by jkluttz on 09/22/11 01:32 PM
I don't doubt that elites are maneuvering to take advantage of a silly and uninformed population as the greater depression intensifies. I also don't doubt that Fabians, communists and others have planned for and encouraged global government. What is hard to believe is that wealthy banking families have, over the generations, been able to maintain such a sense of purpose. If they have, they are truly exceptional because most wealth is destroyed in a few generations. You've heard he old saying, "Rags to rags in three generations?"
As I've said before, when central banks were created centralization became inevitable. Debt must always expand and the only logical next step is a world central bank, followed by world government. What can stop it?
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Posted by dotti on 09/22/11 01:19 PM
Yes.
I remember the Gary Hart incident. At least then we had a facade of morality.
I was interested when Congressman Weiner was so condemned for "sexting". Geez. After what else we've seen of politicians, how bad is sexting? I have the feeling however, that he was brought down for some other reason that none of us will ever know.
I remember getting a bit upset by the movie "Grease". The "good girl" realized the error of her ways and took on the values of the "bad girls" at the end of the movie.
I never saw anyone--ANYONE--comment on what effect that could have on our values.
The "happy ending" was one of "Sandy" becoming promiscuous.
Who's got the blue pills????
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Posted by Avatar on 09/22/11 01:02 PM
The Fact is that up to 2007, 70 % of the US debt could be attributed to Reagan, Bush, and Bush, accomplished through tax cuts and borrowing (deficit spending).
However it is the military hegemony after WWII and social programs that have stimulated the US government to "borrow like there is no tomorrow". Military spending is far away the biggest culprit. LBJ certainly did his part in influencing the end of the gold backed dollar by his venture into Vietnam. The reality is this military-industrial-congressional complex has continued through all administrations regardless of which branch of the Republicrat Party is in power.
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Posted by EDD on 09/22/11 12:04 PM
Thanks, DB, for an article that accurately portrays the dialectic: thesis, antithesis, synthesis. I find it almost impossible that our congress persons to not understand the fiat monetary system, (or maybe they do and are so intoxicated by power that they continue the charade).
The following link may shed some insight into a possible scenario which may give us a glimmer of hope, if true. I had the concept contained in the link's article reported to me, possibly 25-30 years ago by someone who had access to high level military personnel. About two years ago, another friend of mine also reported a similar concept. A few days ago, I was sent this link by the CEO of the company I work for. DB elves, gnomes, or other personnel; please read and comment on any info you may have of the White Dragon society portrayed in the article.
Click to view link
Reply from The Daily Bell
We have stated our doubts about Fulford many times. Sorry.
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Posted by davidnrobyn on 09/22/11 11:48 AM
Tina--I think the reason the "character doesn't matter" campaign worked was that by then our country's value system had dramatically altered. I'm thinking of before that, back in the 1984 presidential campaign, when Gary Hart's chances were ruined by leaks about his indiscretions. Even at the time I laughed and said to myself, "this is supposed to be representative government, isn't it? Well, I'd say Gary Hart is about as representative of us as can be. Why are the press--and we--being such sanctimonious hypocrites about it?" It was that bad by 1984. By 1992 or 1996 the issue of "character" was a standing joke on Seinfeld. You know, the show where the characters NEVER did the right thing--and America saw itself in each episode.
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Posted by theodorej on 09/22/11 11:15 AM
RF ... .. The truth of the matter is... it is the tax payer who is out of work and whose assets are evaporating before their very eyes... The wealth is being syphoned off by an evergrowing government with its legions of dependence waiting for me to go to work so they can get a check for sitting on their asses while putting a dent in a government payroll... .
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Posted by Don on 09/22/11 11:12 AM
Is there some other explanation that makes sense?
Government's profligate weltanschauung as evidenced by its very own "use it [budget $$$] or lose it" elan.
"the partisan divide between Democrats and Republicans"
The great American Hegelian dialectic.
"Tomasky rails against Republican intransigence"
Many mass media personalities seem to openly identify with the Democratic end of the dialectic. A most curious phenomena. Perhaps personalities view themselves as tribunes toiling to protect "the people" and see Democrats as kindred spirits.
"The real destruction has to do with an almost pathological (at this point) overprinting of paper money."
A Republican precinct official recently confided to me that nowadays people from my relatively prosperous community only want to talk to him about money. Many perceive an inherent unfairness in trading a fair days work for paper festooned with shamanic rune.
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Posted by terrang on 09/22/11 11:04 AM
I believe the ultimate solution is limited government and more rugged self reliance and allowing the mega bureaucracies and the mega corporations to dissolve slowly back into the dust.
Gene Logsdon's vision of a nation of cottage farmers with supplemental home businesses, people with patriotic ties to the land, is the vision I and a vast majority of us should have adopted decades agol... but did not.
So now we have this extracted nation of busted dreams and dependency and listlessness counterponted by still working stiffs who are in some instances desperately trying to hold their world together.
Yes, the idle rich with too much free time are callously and selfishly orchestrating the destruction of the western world so they can create their Talmudic - Brahmin Hindu vision of a world with their selected civil servant class at the top, doing their bidding of depopulating the world and creating space for the elites to then breed like rabbits and create their new world order.
But for now the only realistic bridge solution for this mess is to do what Brown is trying to do... . shrink the spending while extracting money back from the only ones who have it... .the very rich whose wealth is compounding obscenely and relentless as documented by options trader Phil Davis on Seeking Alpha. Davis is trying to do what Brown is trying to do... . pull money out of the elites' treasure chest back to his sharp and smart options trading followers.
The Repubublicans led by Treasury Secretary Paulson lost the moral ground of no more privately issued Federal Reserve fiat credit money expansion (to be billed to the citizens with interest) when they bailed out the criminal banksters, thus rewarding them for their good work in destabilizing the entire western world with derivatives losses and nonexistent mortgages and unsustainable loans.
The best bet is to try and muddle through for now with a mix of cuts and tax boosts and then finally look at reality and accept as totally unworkable the usury debt-based money system operated by private central banks who do not work for the common good but only for their enablers. And then it will be time to call off the Talmudic manipulated western war machine and go back to Libya and ask why it was that people there all owned homes with non interest mortgages and why did the west want to destroy common sense just to export our failed usury system and our misdirected energy system and our callous disregard for human life as evidenced by the cold collateral damage deaths in Iraq and the Mideast, which only further raises moral outrage against our drug-numbed peasants and its increasingly aloof, dicsonnected and alien leadership.
My Congressman told me by email he firmly supports Israel and its right to sustain its predatory superiority complex culture with support from a U S that has been predatorily dismantled and given an inferiority guilt trip for having once had a moral compass and a Divine purpose.
Israel, the central banks, grwoing western poverty and lack of morality, the derivatives collapse seeded by Jews Rubin, Summers and Greenspan when they lobbied Congress not to regulate them in 1998, the now disfunctional impasse between a Jewish funded and manipulated Democratic party and a Jewish controlled and staffed (numbers disproportionate to their market share) Republican party are all just symptoms of what happens when a once united states gets diversified by a bunch of hegemonious conspirators working for their own self interest and not the public good.
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