Tuesday, January 5, 2016

Bernie and the Big Short



One of the best and most important movies of the year, The Big Short, has something specifically in common with the best and most important presidential candidate currently still 20 points or so under Hillary Clinton in the latest national polls. Simply put Bernie Sanders wants to tax credit derivatives to pay for free public college while the film The Big Short regretted to spotlight the swaps cancer, instead focusing on the housing bubble. The bubble was merely the largest domino that led to the 2008 downfall but the hemorrhaging began and still chews away at our guts in the form of these vile swaps and other financial instruments who rely on so called predatory lending that sap investment in real or so called “passive” assets that actually help create jobs and growth. Perhaps both the film and Sanders neglect to cut the head of the snake off because they realize its tongue is made of a zillion tentacles dipping into everyone’s 401k. Allowing the swaps bucket shop to continue to distort our capitalist system is not a consolation prize we can afford, literally. Limiting their damage to 3 %, strengthening the "Volker Rule" while tapping down on "shadow banking", as Clinton suggests is her strongest salvo to counter Bernie would be a great first step if she would actually do it but without weening them off the hedge the system would still remain unfocused on real growth. Breaking up the big banks and reinstating Glass Steagall to once again separate commercial and investment banks would go a long way toward righting the ship, no doubt, but the money needed for creative growth would still remain, as the savvy elitists fail to recognize, stagnant.
 The movie was a creative masterpiece. The acting, superb, especially Steve Carell and Christian Bale whom both deserve Oscar nods. The direction was refreshingly original tackling the complicated topic with guest stars making light of the complexity. The truthfulness of the narration with the occasional aside to point out discrepancies is a ground breaking approach to serious comedy. Oddly enough the film is a lot like Bernie Sander’s campaign but sadly neither are currently beating Alvin and the Chipmunks at the box office. His speech in New York on Wall Street reforms was basically his same spiel with a few new tidbits like capping ATM fees and loan interest rates. Perhaps wisely he failed to go after Hillary with sharper knives, merely disagreeing with her stances instead of hitting her super PAC corruption. Ignoring the very structure Wall Street and the world economy relies on through Fiat imaginary debt dragging countries into recessions. I hate feeling that Bernie’s fair and just redistribution of excessive wealth won’t put the fire out and unless writer director Adam Mckay churns out a more comprehensive attack on the root of all evil, the revolution will continue to be untelevised.
While the style and entertaining pace of The Big Short, though truly compelling, would never be enough to make the film a top draw in a society that hates to think, the Bernie campaigns biggest flaw is in its lack of similar panache. According to my count off the top of my head Cornell West has stumped maybe three times, and McFarlane only once for Bernie. Those two alone could push Sanders over the top because they are gifted writers who should be given free rein on this joy ride. The hundreds of celebrities that have voiced their support for Bernie likewise need to get out there and stump the crap out of the Bern, with or without him, it doesn’t matter. As far as the issues, Sanders needs to compromise and vocalize it to boot. He needs to talk about the possibility of a ‘public option’ option for health care and he needs to clarify how far he would go on payroll taxes; these are the two issues that scare away Clinton voters most in addition to their perception of his Isil attack plan. This obsession with staying consistent, as in his 40 year speech being told ad nauseam needs to change as well. Save the integrity for when you're elected Bernie, it’s time for rock and roll to save the world.

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