| An Economic Choice - Empire or
Nation State 08-28-09 mpg Trying to Inflate Our Way Out of Debt Is Like a Monkey Trying To Outrun a Lion - charts - graphs Financial Crisis Called Off - satire FDIC Walks a Tightrope "No Wage Growth; No Recovery" Dress Rehearsal For Debt Peonage - audio interview Our quarter-century penance is just starting The Spend-And-Borrow Economy Must Read - A quote...."In the last few months the world economy has been saved from a near-depression. That feat has been achieved by a range of extraordinary government stimulus measures: In the U.S. and in China, and to a lesser extent in Europe, Japan and other countries, governments have pumped liquidity, slashed policy rates, cut taxes, primed demand and ring-fenced and back-stopped the financial system. All of this has worked, but at a cost. Governments have been spending and borrowing like never before. The question now is: how do they stop?" -- also posted at ICH With great difficulty, assuming they even want too....which they don't. Nouriel Roubini's arguments appear correct within the very limited context of his views on monetary policy, but his arguments do not address several important issues, issues which if left unaddressed will prevent any recovery and will doom this nation to utter and total destitution. Such as the complete and deliberate destruction of this country's manufacturing base by its elites, the never ending trade deficits caused by this deliberate destruction, and the increasingly massive, ongoing, economic and financial distortions (admittedly at the behest of the financial industry itself) caused by this government's “stimulus” activity. The US-NRE under Bernanke's leadership is doing everything it can to restore the former status quo, the same old corrupt system of unlimited, uncollateralized (backed by hot air) private monetary (toxic asset) creation (a.k.a. the Virtual Economy™) all in an effort to continue the expansion of the New Roman Empire and the enrichment of its financial elites. He has absolutely no intention of doing anything to help re-establish or maintain a well regulated free market industrial economy in this country!! The people of this country can either have a New Roman Empire with an increasingly militarized and savagely unconstitutional police state, continuous, murderous, and numerous illegal wars, multiple arranged false-flag operations when needed by our elites, an oppressive dictatorial financial oligarchy and an economy based on extractive Neo-Roman tribute and debt peonage using an utterly worthless fiat currency and bogus debt instruments imposed on this nation’s own population and those of countless innocent peoples and other countries across the world through the massive use of unconstrained military force, along with the establishment of thousands of military bases here and abroad. -- OR -- They can have a democratic nation state abiding by an agreed upon internationalist framework, operating under the constitutional rule of law with a well regulated free market economy established on a sound currency backed by more than easy promises, empty words and hot air. They can't have both. This nation (what little there is left of it) has already traveled a very long way down the wrong road....and time has almost run out. The situation in this country, contrary to many pundits' rosy forecasts, is increasingly dire and the economy is heading straight toward a catastrophic conclusion of sixty years of reckless spending, bubble building, war making and currency depreciation. – mpg |