Sunday, April 10, 2005

The Economic Destruction Of America - Inescapable

Ok. Tell me something I don't know....

For the last year now various alternative news sites and free-minded bloggers have spread the word about the inevitable financial depression America is facing. Unfortunately, that tragic time is now in sight it seems.

In just 5 short years since Bush took office, America's national debt has increased by nearly 3 trillion dollars, while the dollar has continued its predictable decline.

Take this from the New York Times editorial 4-2-05 of example.

" If the world's central bankers accumulate fewer dollars, the result would be an unrelenting American need to borrow in the face of an ever weaker dollar - a recipe for higher interest rates and higher prices. The economic repercussions could unfold gradually, resulting in a long, slow decline in living standards. Or there could be a quick unraveling, with the hallmarks of an uncontrolled fiscal crisis."

Mike Whitney writes in a Counter-Punch article about this impending disaster.

" There are a number of signs that the economy is close to meltdown-stage. Even with cheap energy, low interest rates and $450 billion in borrowed revenue pumped into the system each year, the economy is still barely treading water. This has a lot to due with the colossal shifting of wealth brought on by the tax
cuts. Supply-side, trickle-down theories have been widely discredited and Bush's tax cuts have done nothing to stimulate the economy as promised. Now, with oil tilting towards $60 per barrel, the economic landscape is changing quickly, and
shock-waves are already being felt throughout the country.

The Iraq war has contributed considerably to our current dilemma. The conflict has taken nearly one million barrels of Iraqi oil per day off line.(The exact amount that the administration is trying to replace by pressuring OPEC) In
other words, the astronomical prices at the pump are the direct result of Bush's war. The media has failed to report on the negative affects the war has had on oil production, just as they have obscured the incredibly successful insurgent strategy of destroying pipelines. This isn't a storyline that plays well to the
American public, who expected that Iraq would be paying for its own reconstruction by now. Instead, the resistance is striking back at the empire's Achilles heel (America's need for massive amounts of cheap oil) and its having a damaging affect on the US economy.

Just as the economy cannot float along with sharp increases in oil prices, so too, Bush's profligate deficits threaten the dollar's status as the world's reserve currency. This is much more serious than a simple decline in the value of the dollar. If the major oil producers convert from the dollar to the euro, the American economy will sink almost overnight. If oil is traded in euros then central banks around the world would be compelled to follow and America will be required to pay off its enormous $8 trillion debt. That, of course, would be doomsday for the American economy. But, a recent report indicates that
two-thirds of the world's 65 central banks have already "begun to move from dollars to euros." The Bush plan to savage the dollar has been telegraphed around the world and, as the New York Times says, "the greenback has nowhere to go but down". There's only one thing that the administration can do to ensure
that energy dealers keep trading in dollars.control the flow of oil. That means that an attack on Iran is nearly a certainty.

The difficulties facing both the dollar and the economy are not
insurmountable. The world has been more than willing to compensate for America's wasteful spending as long as America shows itself to be a responsible steward of the global economy. However, the administration's military and economic
recklessness suggests that some of the key players on the world stage (particularly Russia, Iran, Venezuela, Germany, France, China, Brazil) are collaborating on an alternate plan; a contingency plan. If Iran is bombed in an unprovoked act of aggression, we will certainly see this plan activated. The most likely scenario would be a quick switch to the euro that would have grave implications for the American economy. (Russia has already indicated that it will do this) For Iran, an attack would justify arming disparate terrorist organizations with the weaponry they need to attack American and Israeli
interests wherever they may be. In any event, an nprovoked attack will dispel the remaining illusions about Bush's war against terror and confirm to everyone that we are engaged in a new world war; a conflict for global domination. "

I have shared this information with my wife's relatives in North-Eastern America, but they don't believe a word of it. Why..... because all they have noticed is a rise in Gas prices. For them, life continues as always. But it's coming, and when this hammer falls, EVERYONE will notice.

America will be brought into line, just like Russia was in the Eighties. The Bush Reich Cabal will ensure this, and so will the rest of the world leaders who will use this economic scourge to halt further American world domination...

1 Comments:

Anonymous Anonymous said...

Very best site. Keep working. Will return in the near future.
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12:26 PM  

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