Saturday, January 19, 2008

Economic Tsunami: A Perfect Storm Threatens US Economy

Highly leveraged US expansion, growth and empire are about to be swept away like a bamboo hut. As China leads the world in dumping dollars, the US appears to have exhausted the means by which it can continue to leverage or finance expansion and imperialism.

Bush could not have picked a worse time to ratchet up his anti-Iran rhetoric. China's disenchantment with US dollars is a reaction to Bush's bellicose rhetoric. Iran's strategic position was recognized by Alexander the Great, significantly the last "conqueror" to have successfully invaded from the west.

As this blog reported recently, Bush promised that the US would join an Israeli nuclear strike on Iran. It is impossible to tell if the US rhetoric is in response to Iranian threats to dump dollars or Iran's response to Bush's promise to join an Israeli nuclear strike on Iran. The GOP seems unconcerned as Bush's big mouth continues to make the rest of world jittery.

Bush believes that a nuclear war can be won! A nuclear war of any size will most certainly trigger a wave of cascading chaos that respects no borders. Already, Russia has warned that an attack on Iran will be considered an attack on Russia and a Chinese sub recently popped up undetected in the midst of the US Fifth Fleet. As this blog reported several months ago, China has the ability to put a nuclear sub off the US east coast undetected!

We were warned. In 2005, Treasury Secretary John Snow acknowledged economic growth was limited to a small percentage of Americans. Bush's base? Some things never change. Only a tiny elite experienced what they alone have dubbed the Reagan prosperity. A "prosperity" so limited is not prosperity; it is merely a redistribution of dwindling wealth. If poorer folk lost ground, to whom did wealth trickle? The GOP knows that what it says about economics is wrong. They will say whatever they think they can get you to believe.

A statutory debt limit of $8.184 trillion was reached in mid-February of 2005. The total collapse of the US economy was averted but only because no other country wished to be sucked into the US black hole. The dollar actually retained some value amid fears of a worldwide economic catastrophe.

China had been propping up the dollar so that US consumers could continue buying cheap Chinese crap, primarily via WalMart and other monstrous legacies of Globalization. At the time, US debt was some $8.162 trillion dollars and has only gotten bigger. US credit abroad is strained to breaking or broke. The US credit crisis trickles down to bond markets world wide. No country is too small to remain unaffected. Investors in New Zealand, for example, have this month complained that their interest payments have been suspended, the result of fall-out from the US credit crisis. It would appear that there is no where to run, no where to hide.

Moody's reports that "spending" threatens US ratings. Nevermind --Bush will simply balance the books upon the backs of those who can least afford it. Social Security recipients! The issue points up the endemic, perhaps genetic inability of GOP-types to think clearly. GOP profligacy will most certainly break Social Security but the GOP, as are their wont, will blame Social Security. The real culprit is, of course, the Pentagon, a fatted cow regularly milked by the sycophantic defense contractors who fight to suckle the Pentagon teat!

There is nothing wrong with Social Security, but the GOP can be depended upon to break it. Social Security is, in fact, government's only success. It turns a profit, called by critics a "liability". Of course it's a liability by definition because it is money owed to those who paid into it! Elementary accounting! Leave it to a gopper to turn a plus into a negative. Leave it to a gopper to demonize the government's only success story.

As evidence of an imminent collapse, FEMA can be counted on to activate a vast web of concentration camps complete with armed military personnel to keep the "vast unwashed" non-GOP throng in line. These concentration camps look quite a lot like Gitmo or the corporate prisons in Bush's Texas. They are intended to "manage" the population of US citizens in the event of a "terrorist" attack which the GOP can be counted on to manufacture and exploit. That such plans exist is a verifiable fact. Check out: Operation Northwoods , the Pentagon's seditious, treasonous plan to blow up a ship in Guantanamo Bay and blame a civilian uprising, large-scale dissent, or an insurrection against the government.

Meanwhile, The Patriot Act has made a terrorist of anyone who dares to disagree with Bush's imperious and illogical definitions of everything. The US Senate has conspired with the criminal Bush to ban habeas corpus, a move necessary to populate a gulag of Bushco concentration camps. The congress gave Bush sole authority to declare martial law and suspend habeas corpus. This heinous, venal and illegitimate administration will simply ignore the Posse Comitatus Act to enforce its decrees with military force.
In a stealth maneuver, President Bush has signed into law a provision which, according to Senator Patrick Leahy (D-Vermont), will actually encourage the President to declare federal martial law (1). It does so by revising the Insurrection Act, a set of laws that limits the President's ability to deploy troops within the United States.

The Insurrection Act (10 U.S.C.331 -335) has historically, along with the Posse Comitatus Act (18 U.S.C.1385), helped to enforce strict prohibitions on military involvement in domestic law enforcement. With one cloaked swipe of his pen, Bush is seeking to undo those prohibitions.

Public Law 109-364, or the "John Warner Defense Authorization Act of 2007" (H.R.5122) (2), which was signed by the commander in chief on October 17th, 2006, in a private Oval Office ceremony, allows the President to declare a "public emergency" and station troops anywhere in America and take control of state-based National Guard units without the consent of the governor or local authorities, in order to "suppress public disorder."

President Bush seized this unprecedented power on the very same day that he signed the equally odious Military Commissions Act of 2006. In a sense, the two laws complement one another. One allows for torture and detention abroad, while the other seeks to enforce acquiescence at home, preparing to order the military onto the streets of America. Remember, the term for putting an area under military law enforcement control is precise; the term is "martial law."

-- Bush Moves Toward Martial Law, Frank Morales, Information Liberation

The US economy is broken and faces imminent and total collapse. The US is bankrupt --morally and financially. Given the eventual and horrible outcomes, it is hard not to conclude that Bush and his co-conspirators deliberately embarked upon a program of profligate spending and wars of naked aggression in order to bring about this result.
Since the New Deal, Republicans have been on the wrong side of every issue of concern to ordinary Americans; Social Security, the war in Vietnam, equal rights, civil liberties, church- state separation, consumer issues, public education, reproductive freedom, national health care, labor issues, gun policy, ampaign-finance reform, the environment and tax fairness. No political party could remain so consistently wrong by accident. The only rational conclusion is that, despite their cynical "family values" propaganda, the Republican Party is a criminal conspiracy to betray the interests of the American people in favor of plutocratic and corporate interests, and absolutist religious groups.

--GOP Evil Bastards

Well, perhaps I was not the first to call the GOP what it is. For years, I have warned that the GOP is not a political party; it is a criminal conspiracy, a crime syndicate, for which there is probable cause to imprison its entire leadership.

I am reminded of New Orleans. Normal people looked at New Orleans and saw a humanitarian disaster about which this government did not give a shit! Bush and the GOP, however, looked at the flood waters covering venerable old neighborhoods and saw a new Disneyland which would rise up above the waves! God Bless the Child that's got his own, but may God damn the gopper who exploits a tragedy for personal and party gain! How many, I wonder, have felt betrayed by the country they loved?

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