Welcome to the end of free market capitalism and the nationalization and enslavement of the entire American population. "Taxation without representation is tyranny" Sam Adams. With King GWB selling the American people into slavery due to the failure of his administrations foreign and domestic policies with his low approval rating is tantamount to tyranny. Unable to secure foreign or domestic investors in Fannie, Freddie, and AIG the administration sold Americans future in an attempt to insure global security for the rest of the world.
This futile course shall fail as all his leadership roles have failed. His administration has purchased the worlds largest insurance company. A company that insures the credit debt and guarantees the payment of future obligations of banks that fail. And trust that there will be many. And it is the stock holders of AIG that will pay these bad loans. The American Taxpayer. HELLO !!!!! So exactly who has been bailed out here ?
And here is the "Crown of Creation", in the longer run which is approaching at the speed of light there is only a limited way out and it is Hegelian to the extreme. It calls for a massive devaluation of the dollar, rising costs of all commodities, coupled with a severe depression and extreme poverty. And as in the past the only way out will be a war machine that engages the masses. A repeat of history except this time we are the Nazi Fascist Government that insures the turmoil.
I am taking bets the window is open. blink.gif
“America Is In Decline”
Translated By Ron Argentati
13 September 2008
Germany - Sueddeutsche Zeitung - Original Article (German)
Sociologist Richard Sennett explains to Sueddeutsche Zeitung’s Nikolaus Piper why Americans are losing faith in capitalism and the future of their country............
America Says Goodbye
to Pure Capitalism
The United States as keeper of the Holy Grail of capitalism – those times appear to have disappeared. In an emergency, the basic tenets of capitalism are jettisoned. Nationalization, regulatory madness, more and more billions freely handed out: the strong state is on the march in the USA......
Now economist Nouriel Roubini complains that Fannie and Freddie’s de-facto nationalization is “the largest nationalization in the history of mankind". U.S. Secretary of the Treasury Hank Paulson, Roubini wrote, has pulled off the “most radical change in global economics in a decade". He added, “Welcome to the United Socialist States of America.”.....
“Basically, the country is bankrupt,” concludes Kotlikoff. In the end, the government will have no alternative other than a massive devaluation of the dollar in order to make the debt more affordable.
“The only remarkable thing,” says Kotlikoff, “is that there are even any foreign investors still willing to buy American securities.”
http://watchingamerica.com/News/6283/am ... apitalism/
In an interview with the First Financial Daily published on September 1, Li Xiangyang, deputy director of the World Economic and Political Research Department of the official Chinese Academy of Social Sciences (CASS), admitted that the subprime meltdown was a rude awakening for Chinese economists, who had long understated the risk of major global crises.
Li was referring to the fact that many Chinese economists adapted to Western neo-liberal theories in the 1990s, believing that the global recession in the 1970s and the Great Depression of 1929 were events of the past. “This conception has been dominating China’s economic circles for years,” Li said, adding that it had weakened an awareness of the emerging global downturn.
Since the Chinese Communist Party (CCP) regime turned to the capitalist market in 1978, the official Stalinist ideologues and academics have all but dropped their “socialist” window dressing and now openly serve the new capitalist elite. Dismissing the Marxist theory of capitalist breakdown as “outdated,” they claim that world capitalism has learned to regulate its contradictions and that the economic depressions, social revolutions and imperialist wars of the first half of the twentieth century will never return. Such arguments are now looking seriously flawed...
http://www.wsws.org/articles/2008/sep20 ... -s12.shtml
And what do the Russians think ???????????????
The Federal Security Service of the Russian Federation (FSB) is reporting in the Kremlin today that the Bank of England has received from the United States Federal Reserve Bank a ‘notice’ that President Bush is preparing to declare an ‘Economic Emergency’ during the week of October 5th and will further announce that the American Presidential election due to be held on November 4th will be ‘indefinitely suspended’.
These reports state that the Governor of the Bank of England, Mervyn King, had expressed his ‘shock and outrage’ to his American counterparts at the US Federal Reserve after the catastrophic collapse of one of the largest financial banks in the World, Lehman Brothers, and which caused both the Band of England and the European Central Bank to rush $42 billion into the European economy yesterday to keep it from collapsing, and their own banks from running out of money, necessitating the response from the US Central Bank leader Ben S. Bernanke. ................
Russian Military Analysts commenting on these reports state that though it is unlikely that the American President can suspend US elections solely on the basis of an Economic Emergency alone, it is entirely probable that he could do so should their Nation suffer another 9/11 type attack, and which they ‘cryptically’ observe could place as early as September 22nd as American Military Forces begin to conduct their World-Wide tests of their new nuclear alert system as they conduct another test of their so-called Star Wars Missile Defense System. ............
Aw Crap who cares what the Russians think ?????