Financial Meltdown And The Madness Of Imperialism - posted at CounterCurrents From the history file - A quote.... "[To the possessor of money capital] “the process of production appears merely as an unavoidable intermediate link, as a necessary evil for the sake of money-making. All nations with a capitalist mode of production are therefore seized periodically by a feverish attempt to make money without the intervention of the process of production.”— *Karl Marx*, Capital, Volume II, “The Circuit of Money Capital” This editor had no idea that Karl Marx of all people would predict the rise - and fall - of a corporation like Enron. Never forget that before they fell they were thinking of setting up a market to literally buy and sell....the weather. - mpg - posted 04-16-08 06-20-08 mpg So we now have an economic system whereby our “elites” have tried to offshore all of this nation’s production facilities, converted most of its economic activity into the buying and selling of "synthetic" debt instruments (i.e. vapor-money, funny-money, monopoly money, over-priced houses, over-priced securities, what-have-you) and is allowing the Fed to pump vast sums of liquid (you know what) into the economy in a vain hope of inflating it and preventing the inevitable consequences of having an economic system based on producing nothing but bogus paper and military hardware. Yes, yes, yes.....everybody knows the game plan, pump this toxic sludge out there into the other 155 countries economies, dropping the dollar all the way, squeeze your workers standard of living, make sure they never get a raise again, leverage your military power over other people’s economic assets (Iraq's oil), pop your interest rates back up in a big way with the "kinder and gentler Obama" (a.k.a. “the build phase”, the Yang to Bush's Yin, the Jeff to Bush's Mutt, the Good Cop to Bush's Bad Cop....etc.) so Obama can "heal" our nation’s woes and “feel our pain” while they jack rates into the stratosphere, (this is probably what Obama meant by "change", a massive deliberate recession to wring inflation out of the economy) suck those now deflated dollars back in and than hopefully start the cycle all over again. But they've run out of time, this ain't Regan in the eighties, they've done way to much damage already. By every measurable factor of economic output or input, per capita debt load per family, real inflation, actual GDP, Trade deficit, the Federal deficit, etc... They’ve exceeded any economist's wildest expectations regarding just how mach damage an economy can take and still function after it's been totally gutted. And their planned war with Iran ain't gonna help either, they've got way to much inflation now, with the Straights of Hormuz closed and oil at $250 a barrel and another war, they'd have a bit more on their collective plate than they could deal with. So they made the deal, last year Bush told the world "Iraq will be like South Korea" and if you don't let it be "I'll start World War Three". Than they ran around for the last four months feverishly sending Treasury Secretary Paulson and his assorted lackeys to all the big holders of US securities (China, Russia, Saudi Arabia), telling everyone they want the dollar supported. Even Bernanke has joined the party and is trying to jaw-bone the dollar up. They even got George Soros of all people in on the act. So now they're just gonna squat in Iraq, try to take that country's oil as a consolation prize (they were hoping for a lot more, like Iran's oil, the Caspian Basin, even Saudi Arabia) count up the cash they've made so far, let Obama do his "let's get together and rebuild America thing" and "I share your pain" and “hope, hope, hope” while he wrings his dainty little hands about that "dastardly Fed raising interest rates" (and does nothing about it - after all what can he do). And than we'll all work really, really, really, hard like the busy little worker bees we’re' supposed to be to pay back the ten to fifteen trillion dollars worth of damage our elites have done to the economy. And who knows, if we’re really good little boys and girls and work really hard, and save our money, and let Obama tax us, and reduce our social security benefits....they can start their war on schedule in 2010 or 2012. If not we may have to wait a whole'nother ten years before they start another war. Now wouldn't that be a darn shame? - mpg For more on this issue see....Effective Fed Funds Rate 03-24-07 - mpg |