FW: Bush’s Tyranny for a Bankrupt Nation

[Guest guest]

" Mark Hull-Richter " <mhull

Wed, 8 Feb 2006 10:57:30 -0800 (PST)

FW: Bush's Tyranny for a Bankrupt Nation

 

 

 

This kind of says it all, but from an economic perspective, sort of.

 

It fits with everything else that we see and hear, even in the MSM,

about what is going on in Washington, and our faithful opposition

Democrats in Washington are going along. Why wouldn't they? They're

the financial elite set to reap the profits of this lovely windfall to

the top 1%.

 

Why else would Barbara Boxer try to discourage Cindy Sheehan from

running against Dianne Feinstein here in CA? Is she afraid Cindy will

be able to upset the nice corporate/military apple cart? Is that a

fiery liberal?

 

Makes you think?

 

 

 

 

 

http://www.informationclearinghouse.info/article11798.htm

 

NEWS YOU WON'T FIND ON CNN

 

Bush's Tyranny for a Bankrupt Nation

 

By Mike Whitney

 

01/05/06 " ICH " -- -- President Bush has consistently defended his

massive $500 billion tax cuts. He has insisted that deficit spending be

a " permanent " part of the national budget. His economic plan has eroded

the confidence of central banks around the world and increased the

federal debt by a whopping $3 trillion. Still, he persists in his claim

that deficits should be an enduring function of government.

 

Doesn't this confirm that bankrupting the country is an integral part

of the Bush grand strategy?

 

What more proof do we need?

 

Imagine someone stealing your credit card and running up a $450,000

bill year after year and then defending the theft as necessary to

" create more jobs " as the " trickle-down " theorists do?

 

Would you take such a person at his word?

 

Deficits are theft; and the determination to make these lavish tax cuts

for the wealthy permanent proves beyond a doubt that it is part of a

larger strategy to bring about an economic meltdown that will change

the political complexion of the country.

 

What else could it mean?

 

Dick Cheney recently opined, " Reagan proved that deficits don't mean

anything. "

 

Liar.

 

In fact, Cheney was part of the Reagan administration when Reagan's tax

cuts created monstrous $200 billion deficits, up 75% from 1980. The

effects were devastating. Unemployment jumped to 10%, the 30 year

mortgage skyrocketed to 15%, the economy ground to a standstill, and

the nation plunged into the deepest recession since the 1930s.

 

Cheney fully understands the suffering that deficits produce. Now, he

wants to continue that misery as a permanent function of government.

 

Why?

 

Is it really so important to reward the " fortunate 1% " that the

administration would risk the economic well-being and solvency of the

nation?

 

And, what is the relationship between the ocean of debt produced by

the Bush team and their strengthening of police-state apparatus like

unlimited spying on Americans, the NSS (Bush's new Secret Police), the

uniform Federal ID program, the Patriot Act, and Halliburton's $385

million contract from Homeland Security to construct new detention and

processing facilities within the United States?

 

Is the ascendancy of the police-state intended to balance the

catastrophic effects of economic destruction? Or, do the new

instruments of repression anticipate the " political turmoil " (Warren

Buffet's words) that naturally results from financial collapse?

 

The Bush master-plan is no different than the economic shock-therapy

the United States has directed at the third world for decades. The

strategy is simple and straightforward, but virtually foolproof in

achieving its objectives; the crushing of the middle class and the

subsequent shifting of the nation's wealth to the " oligarchy of

racketeers " who run the system.

 

The levers of power have all been faithfully assembled by Bush

operatives, while America's $3 trillion trade deficit looms overhead

like the sword of Damocles. As the underpinnings of economic wellbeing

continue to deteriorate; causing further job-flight, credit spending,

and soaring energy prices; the power-brokers at the head-of-state

calmly arrange the instruments of repression they'll need to maintain

order.

 

Did we really imagine the chickens would never come home to roost?

 

Regardless of what the public-relation gurus on the business channel

say, the state of the union is disastrous. Bush has intentionally

looted the treasury and torpedoed America's economic future. Federal

Reserve chief, Alan Greenspan cooperatively kept interest rates low so

the greatest swindle in history could take place while the drowsy

American public snoozed away.

 

Thanks, Alan.

 

Americans refuse to believe that bubbles (housing or stock market) are

brought about by the deliberate and politically-motivated actions at

the Federal Reserve.

 

Huh?

 

Everyone agrees about the effects of high interest rates; why would

there be so much uncertainty about low interest rates?

 

Just as high interest rates slow the economy by making loans on

investment more expensive; so too, low interest rates naturally produce

increased speculation by making cheap money available to a greater

number of people. Greenspan knew as early as 1996 that the stock

market was over-inflated when he warned that " there was a stock market

bubble at this point " that is " a problem we should keep our eye on " .

(Remember " irrational exuberance " ?) Still, he accommodated his friends

in Washington and Wall Street by waiting until tens of thousands of

Americans had lost their savings (and retirement) before ratcheting up

interest rates and cooling down the spec-market. The final loss to

investors was an estimated $7 trillion dollars, an amount that pales

in comparison to the current housing bubble which " The Economist "

calls " the greatest bubble in history " . Again, it was Greenspan who

instigated the housing bubble by dropping rates to a paltry 1.5%

following the decline in the stock market. Regrettably, the results

will be even more ruinous this time.

 

Never the less, low interest rates are an effective way of creating

bubbles and thereby transferring wealth from one class to another. The

other two " tried-and-true " methods are tax cuts and hyperinflation;

both parts of the Greenspan legacy. (Expect a weakening dollar as the

effects of the massive trade deficit set in)

 

To argue that the Federal Reserve does not support a political agenda

that favors elite interests, is to say that it is not a privately-owned

institution (which it is) which operates in conjunction with major

investors; particularly the energy giants, the mainstream media,

arms-manufacturers, and the political establishment. The Federal

Reserve is joined at the hip with the Bush White House. In fact, the

administration is merely a reflection of the values and goals of the

financial powerbrokers at the central banks.

 

Don't expect any complaints from Alan Greenspan about the

rough-treatment of prisoners at Guantanamo Bay. The cadres of elites

are of " one mind " on the current global crusade for a new world order.

If that means torturing a few thousand innocent people; so be it.

 

Doomsday

 

There are numerous signs that the nation's free ride will soon be over.

Gold is skyrocketing as perceptive investors see the cracks and

fissures appearing in the economic foundation that binds the

debtor-kingdom together. Twitchy investors are watching for news about

Iran, rebel attacks in Nigeria, or a potential sell-off of greenbacks

in China. Market analysts may feign equanimity but they are walking on

the knifes-edge expecting the worse.

 

But, the worse is unavoidable; the country is dead broke. Last year

alone Americans not only spent more than they earned for the first

time since the great Depression; they also borrowed an additional $600

billion from their home equity to pay off credit card debt and

consumer loans! This tells us that the all signs of growth in the

economy are the result of credit spending. Home equity has become the

new ATM card, demonstrating once again that the country is running on

fumes.

 

This quarter's slow growth of 1.1%, shows that the well has run dry

and consumer spending (which accounts for 70% of GDP) is down for the

count. Interest rates are going up, the dollar will soon be sinking,

energy costs are soaring, and the unemployment line is getting longer.

 

Time to find a nice comfy spot beneath the freeway on-ramp…and bring

your own cardboard.

 

The Clinton strategy would have made the transition more agreeable,

but the result of globalization is roughly the same. Businesses and

jobs pack up and leave driving wages through the floor, while the

social safety net continues to worsen by congressional edict. The main

difference with Clinton is that he strengthened the dollar by

balancing the budget and showed little appetite for creating the

police-state apparatus that the Bush claque relishes.

 

The Bush administration is preparing for a quick but agonizing

transition. They have painstakingly removed whatever laws stood in the

way of autocratic government. The courts will brandish the rubber

stamp for the supreme executive, the congress will languish as a

ceremonial institution, and the compliant media will shower praise on

the Dear Leader's iron-fisted methods of keeping the peace.

 

Economic disintegration is the catalyst for changing the fundamental

institutions of government. The globalists in the White House have

played a major role in numerous coups across the planet, all producing

the same basic result; a military dictatorship with a strongman at the

head of state. America is being readied for a similar transformation.

 

(In accordance with Title 17 U.S.C. Section 107, this material is

distributed without profit to those who have expressed a prior

interest in receiving the included information for research and

educational purposes. Information Clearing House has no affiliation

whatsoever with the originator of this article nor is Information

Clearing House endorsed or sponsored by the originator.)

 

(Also at http://www.rense.com/general69/tyr.htm and

http://www.smirkingchimp.com/article.php?thold=-1 & mode=nested & order=0 & sid=24736

and somewhere on Al Jazeera (!).)

 

 

Mark Hull-Richter, U.S. Citizen & Patriot

U.S.A. - From democracy to kakistocracy in one fell coup.

" Those who make peaceful revolution impossible will make violent

revolution inevitable. " - JFK

http://www.commondreams.org/views03/0416-01.htm

http://verifiedvoting.org http://blackboxvoting.org

 

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