Time to once more emphasize the unintended, but main, result of the “Great Recession.” Uncle Sam has gained even more control over the economy.

As I stated before, by the year 2007 Uncle Sam had become the largest consumer of our economy. Proof of this was the 1994 shut down of the Federal Government by a recalcitrant Congress. When the money stopped flowing out of public coffers we suddenly realized that we all suck at the public trough, it’s just that some, in my quaint phrase, “have longer straws than others.”

Uncle Sam is also the central banker determining the base line for all credit and issuing new currency as well as the Treasury Bills that form part of most investment portfolios.

Even more important, Uncle Sam sets the rules under which the economy works. If you need to understand what this means, just ask Bernie Madoff.

So by 2007 Uncle Sam was firmly in position as the dominant force in our economy. The net result of the “Great Recession” is that Uncle Sam has now become the single largest investor in the private sector. He now holds Fannie Mae and Freddie Mac that own more than half of the mortgages in the USA, a sum that is probably around $10 trillion. He owns the largest insurance company. He still has ownership claims on large parts of major banks, although the banks are buying him off as fast as they can. He now owns the largest auto maker in the USA.

In my quaint phrase, “what it took the Bolsheviks a sea of blood to do in Russia, Uncle Sam has done by issuing chits in the USA.” Uncle Sam has become the owner of the largest share of the “means of production.” Comrades Marx and Lenin would be envious, as well as Benito Mussolini.

“Socialism,” well I guess so. But I am not opposed. The more income Uncle Sam receives from his new investments, the less need he will have to tax my pocketbook.