Don’t let a crisis go to waste
Question: what’s the difference between the great depressions of 1932 and 2008?
Answer: the New Deal
It seems that all possible parallels between 1932 and 2008 are being drawn except for the most important one: the way out of these respective messes.
In FDR’s New Deal, taxpayer money was put to work through a variety of alphabet agencies. One of these was the WPA which, among other things, invested heavily in the development of American infrastructure, including hydroelectric power. The New Deal put Americans to work, thereby injecting sustained cash flow directly into the economy, while simultaneously building strategically important infrastructure.
The Chinese appear to have taken a page from FDR’s New Deal playbook. Instead of investing their half-trillion dollars of bailout money into financial institutions, they’re investing in -- you guessed it -- infrastructure. It appears that the Chinese want to have something to show for their investment at the end of the day besides more debt. Old-fashioned, I grant you, but the Chinese are funny in that way about wanting to get something in return for their money.
Oddly enough, most Americans share the same penchant for sensibility as their Chinese counterparts. America’s leaders, however, are on an entirely different track.
The architects of America’s bailout have determined that investment in financial institutions must take precedent over investment in infrastructure. The thinking is that, ostensibly, the top priority should be to get money into the hands of businesses that drive the engine of the American economy. According to the very best minds in our current government, the most efficient way to inject money into those companies is not a straight line, but instead via the scenic route: by depositing it in the bank. The master plan assumes that banks will quickly and efficiently disburse the money. It’s in their own best interests, right? A rising tide floats all boats? Wrong. This assumption has proven to be as absurd as the one about Americans being be greeted in Baghdad as liberators.
Instead, the money is sitting in the bank like a Thanksgiving turkey working its way through an anaconda. Welcome to “trickle-through” economics.
Rahm Emanuel said “Don’t let a crisis go to waste.” No one understood this better than FDR, who leveraged the crisis of the Great Depression for America’s long term benefit. Over half a century later, the green hydroelectric power spawned by the New Deal still drives a remarkable portion of America’s economic engine. By contrast, we allowed the crisis of 9/11 to go to waste by failing to seize a unique moment of global unity for national good. Now we are wasting a global depression by dumping money into the least innovative place on earth: the US banking system. Years from now, when China and the US emerge from their respective depressions, China will have modern infrastructure to elevate it to superpower status. America will have more debt.
The United States is at a once-in-a-lifetime crossroad. It can choose to once again waste another historic crisis and use its money to finance its own demise, or it can put the money to work to restore its greatness. The New New Deal would project a successful vision from America’s past toward its 21st century future, creating an America powered by clean energy, independent of foreign oil and its associated baggage, an America which incubates green technologies that will propel the next wave of innovative industry, and transitions an army of labor into a new generation of green energy manufacturing jobs.
This is not a miracle -- it’s a choice. It’s actually a simple choice for a country accustomed to doing great things, particularly when you consider that we’ve already done this once before. Further, a new president is not a prerequisite for a New Deal. The current president can do something right now to stop the bleeding, restore some hope, and, in the process, enable historians to declare his presidency something other than a complete failure.



Comments (49)
Great Depression unemployment was 25%. Today it is 6.5%. In 1982, it was 10.8%. The U.S. stock market was at current levels as recently as 2003, just five years ago. Inflation was 13% in 1980, 4% today.
What the U.S. is experiencing today is a downturn, not a depression. By way of example, the U.S. experienced the only year of net EMIGRATION, as people left to go back to Europe for their future during the Great Depression. Read that again; think about what it would take for something like that to happen.
China has an adult population with an average of six years of education. There is no social safety net. There is no freedom of speech, or learning, or travel, and the per capita income is less than $2,000. The infrastructure is being built with literal coolie labor. No Cal/OSHA protections, no worker's comp, no unions, no Bacon-Davis wage law, no oversight and penalties for negligence, unsafe work conditions, or poor quality. Chinese are coming to the U.S. for a future, not the other way around.
The premise of this article is incorrect. Hyperbole is about the biggest similarity.
Comment #1 Posted by: Johnny Chingas | December 2, 2008 08:10 AM
Johnny,
Comparing the current 6.8% unemployment rate with with 25% rate in the Great Depression is misleading due to the way the current rate is calculated.
The unemployment rate is calculated today by excluding those who are: a) underemployed, b) working part-time, or c) have given up looking for employment. Including these categories, the actual rate is closer to double the reported rate. Additionally, the current sampling method used to estimate unemployment was not developed until 1940. Prior to that time, there were wider swings in estimates due to inaccurate sampling and judgement calls.
The current unemployment rate is expected to rise to at least 8 - 9%. The hope is that it will not exceed 10%, which is one of the triggers used to define a depression vs. a recession. Many economists expect the unemployment rate to peak above 10%.
With respect to inflation, two of the factors influencing this are the price of oil and the money supply. With respect to the price of oil, it was only a few months ago when economists were worried about hyperinflation due to the price of oil. Now there is concern about deflation for the same reason. The wildly fluctuating price of oil simply wreaks havoc with our oil-based economy.
With respect to money supply, the Fed has indicated that it will print as much money as needed to fund the various bailouts. This will well exceed $1 trillion dollars. There is no way to print this much money without deflating the value of the currency and, therefore, increase inflation.
Comment #2 Posted by: Todd Miller | December 2, 2008 10:43 AM
Todd, thank you for your measured response. Some points for your consideration:
1) Underemployed have never included in unemployment calculations. Everyone who thinks they should be doing something better is underemployed. My grandfather had a college degree and was happy for a job loading trucks in a warehouse in 1932. I would consider him underemployed, but he was grateful for a job when 1 in 4 Americans were out of work, women were taking in laundry, and men were selling apples and pencils on streetcorners.
2)There have been many refinements to the unemployment calculation. For instance, in 1994, those searching for work more than 52 weeks were reclassified as "permanently discouraged" and removed from the calculation.
3) You can see exactly what the criteria for the calculation is here: http://www.bls.gov/cps/cps_htgm.htm
In any event, there is no comparison to the job market, inflation rate, the 5,000 bank failures taking customers life savings, and the seven years of grinding deflation and poverty in the Great Depression.
Likewise, the comparison to China's "investment" in infrastructure is also apples-to-oranges.
Comment #3 Posted by: Johnny Chingas | December 2, 2008 11:32 AM
Exactly right on the unemployment rate and it's calculation Todd. Glad to see you back. Arguably the only thing shielding Americans from the horrors of this latest economic down turn are the remaining New Deal elements that haven't been excised by Reagan/Bush/Clinton/Bush in the last 28 years.
Mr. Chingas, inflation is not high right now because we are witnessing a deflationary spiral which is eerily reminiscent of the Great Depression. Falling consumer confidence due to 35 years of debt financing and the ever increasing wage gap is shrinking the economy. This is only going to get much worse unless the money that is currently being given to the banks is given to the workers(consumers). Consumers are over 70% of the GDP. Let that sink in. If consumers cannot spend, the GDP collapses. Very simple.
Consumers have been spending like drunken sailors for a very long time thanks to the wonders of debt. It caused a bubble economy of which the most obvious manifestation is the now collapsing housing bubble/mania. Consumers, god I hate that term, constantly refinanced their homes on ever more fantastic valuations. Valuations that were nothing but bubble. Government debt has been even worse. Ronald Reagan alone ran up debt higher than every other President before him combined. As must happen in any debt financed system, we have hit the wall. This is the same thing that has happened four separate times in our history.
The most likely outcome of the 7+ trillion dollars being printed and given to Wall St. is massive inflation after this deflationary period abruptly ends. In fact, I'm willing to bet that the dollar will actually be devalued as a result. I'm not sure just how far it will fall, but my suspicion is that they might just knock off two zeros. So if you have $100, after the devaluation, you'll have $1. It's happened before in other countries. Just look to Argentina. I hope I'm wrong.
The New Deal did a lot to ameliorate the Great Depression, but it took WWII to actually put an end to it. In fact, the last two times capitalism in this country run amok and caused these conditions, a massive war was the "fix". The Civil War and World War II. We cannot afford that solution again.
Comment #4 Posted by: spk | December 2, 2008 11:53 AM
To date the efforts of the Federal government have been focused on financial bail-outs, but in the works is a big infrastructure investment plan -- in the range of $600-700 billion over two years, according to The New York Times.
Next question: What kind of infrastructure will be built? Will it be more concrete and more roads, or this time in California will we think also of the need to conserve our rainfall and clean our air?
These habitat questions have not yet become part of the national conversation. The assumption seems to be that any New New Deal will be just like the old one, even though we have no use for another Hoover Dam.
Comment #5 Posted by: Kit Stolz | December 2, 2008 12:02 PM
Kit,
With respect to infrastructure, I hope that much of it involves investment in clean energy. I believe many roads lead to energy, including commerce, environment, and foreign policy. I hope to someday see an America that leads by example in green technology development and associated commerce, as well as one which successfully transitions its rust belt manufacturing labor into building wind, solar, and geothermal energy farms, as well as electric and hydrogen cars.
Comment #6 Posted by: Todd Miller | December 2, 2008 03:05 PM
The big question of this administration will be their evaluation of the appropriete energy source to embrace. If they consult reputable scientists then the choice will be nuclear power. If they go with an expert like Al Gore then look for millions of solar panels out in the desert. More that likely I think we will see some concessions toward nuclear power, the question is how much.
Comment #7 Posted by: BC | December 2, 2008 06:06 PM
kia ora, Todd!
and Sean, Kit, Johnny ...
as to a 'national' works/infrastructure program ... they only thing I can think of that will make a difference is a continent-wide reforestation program -- returning tens of millions of acres of wetlands and rivers, and returning perhaps hundreds of millions of acres of forests ...
and transforming tens of millions of acres of animal-farming and agricultural lands into permaculture.
as Sean notes, with the $8 Trillion looted from the US Treasury in recent weeks -- on top of our tens of Trillions of dollars of existing debt -- it doesn't matter how much money we throw at 'creating jobs' -- it is not the (soon worthless) money which will save us -- it will be the creation of real peace and wealth -- and that will only come from returning Mother nature -- and learning to become a divine facet of local and global cultural diversity.
aka all our relations ...
Comment #8 Posted by: millennium | December 2, 2008 06:11 PM
Todd, you goat roper where the heck have you been?
Comment #9 Posted by: Rutting Buck | December 2, 2008 06:44 PM
RB -- I'm enjoying life here in Carmel Valley. One of life's ironies is that we moved here in part because of the fires in southern Cal -- the biggest fire in this area in 25 years got underway just after we unpacked.
Regarding my goat, Henry Miller, he is now enjoying his retirement in Angels Camp.
Comment #10 Posted by: todd Miller | December 2, 2008 10:18 PM
On reforestation: Currently our forests are burning because of the horrible mismanagement as a result of the lawsuits filed by the Sierra Club. When the native Americans were the only ones in the forest they periodically burned out areas of the forest to allow for wildlife to have room flourish. Now days loggers serve the same function only more with better control. The dense forest that is allowed to build up results in devistating fires which destroy everything, including wildlife. Reforestation in logged areas is accomplished with the revenue from the homes and furnature built from the wood. No revenue, no replanting.
Comment #11 Posted by: BC | December 3, 2008 07:16 AM
Ah, so it's the Sierra Club's fault. What a relief! All this time I was thinking that global warming was responsible for the dryer conditions that exacerbate megafires. It will be much easier to get rid of the Sierra Club than it will be to reverse global warming. I'll sleep better tonight.
By this reckoning, I suppose we should give thanks to arsonists who now perform the work of the native Americans by periodically burning the forest. I was confused about the vital service they perform to the planet.
Comment #12 Posted by: Todd Miller | December 3, 2008 09:24 AM
Todd,
Any forester will tell you that the build up of the small trees in the forest creates "ladder fuels" which ignites the larger trees when there is a fire on the floor of the forest.
http://www.greenspirit.com/key_issues.cfm?msid=53
Comment #13 Posted by: BC | December 3, 2008 10:50 AM
BC
I am actually aware of the concept of ladder fuels. This is only one aspect of the equation. There is little question that the frequency and scope of fires has increased dramatically with climate change. Moreover, I would submit that forests did manage to manage themselves just fine without humans for millions of years before we arrived on the scene. I don't see a particular imperative to manage the forests. I do see an imperative to reverse global warming.
Comment #14 Posted by: Todd Miller | December 3, 2008 12:48 PM
More recent fires may not be natural
Just what is natural and what isn’t about forest fires is a subject of long-standing and passionate political dispute, but experts have quietly begun to fill some of the scientific gaps. There is new evidence that the forests struck by the lightning in Northern California were anything but natural, compared with the forests of long ago. The federal and state-owned forests have been the subjects of years of conflicting political schemes, ranging from the federal government’s Smokey the Bear campaign, which suppressed the normal cycle of regular, but usually smaller forest fires, to the battle over the spotted owl, which suppressed logging.
The result has been forests packed with brush and dead wood that foresters call “fuel ladders” because they allow small fires to climb upward into the more flammable crowns of trees, an ignition that can create the cyclonic firestorms that spread flames and throw burning embers for miles. The thinned zones, where brush is removed and smaller trees are cut down, are designed to leave spaces between larger trees that save them by forcing the fires to come down to the ground, where firefighters can more easily snuff them.
One study, done by the U.S. National Center for Atmospheric Research, found that forest fires now contribute 4 to 6 percent of the man-caused greenhouse gases released in the United States each year. Christine Wiedinmyer, a chemical engineer and co-author of the study, believes it is the first comparison of its kind. She said because human forest-management policies are involved, states proposing reductions of greenhouse gases need to re-examine them. “If you’re trying to look at your carbon budget, you can’t neglect these fires.”
She noted that while the CO2 emissions from large fires are obvious, the tons of black soot particles released into the air by a large fire are also a cause of climate change because when soot precipitates out in polar regions — darkening the snow and ice — it accelerates warming.
A study of computer models made of several large forest fires shows that prior forest-thinning action can reduce the CO2 output by as much as 98 percent. One of the authors, Matthew Hurteau, a forest ecologist at Northern Arizona University, asserted that California’s current approach to accounting for the carbon release of forest fires ignores that possibility. The state’s Climate Action Registry tends to penalize forest thinning because removing brush and smaller trees creates some carbon emissions. Meanwhile, according to Hurteau, the state regards the massive release of carbon during forest fires as an uncontrollable event that no one is held responsible for.
Yesterday’s forests were thinner and more reliable for CO2 storage
Hurteau said a computer model designed to replicate what a Sierra forest looked like in 1865 suggests that older forests were much thinner and far more resistant to large fires than the current ones. “We’ve pretty much changed them,” he said, to the point where there’s a greater risk of storing carbon in a forest that has frequent fires.
One solution, he suggested, is that the state could reverse its policy and reward forest thinning with emissions-trading credits. The credits could provide the millions of dollars needed to support and promote forest thinning. Landowners who don’t thin, who risk fires that wipe out whole stands of older trees, might legitimately be penalized for carbon emissions under a state cap-and-trade system, he said, because the carbon has escaped into the atmosphere and the trees’ carbon-storing capability can’t be replaced for decades.
Comment #15 Posted by: BC | December 3, 2008 03:47 PM
Brian, where did you cut and paste that from?
Comment #16 Posted by: Citation Lacking | December 3, 2008 03:50 PM
above is from:
By John J. Fialka
Todd, using your reasoning you could say that since the Bark Bettle is natural then just let is eat up all the trees.
Comment #17 Posted by: BC | December 3, 2008 03:52 PM
I cut and pasted that from:
http://www.earthportal.org/news/?p=1690
Comment #18 Posted by: BC | December 3, 2008 04:11 PM
Yes, BC, the Bark Beetle is natural, but the deterioration in the trees' resistance to the Bark Beetle is not. If you have a brainstorm on how to water the forest, I would be very interested in hearing it.
Comment #19 Posted by: Todd Miller | December 3, 2008 04:12 PM
Here is a snow fall graph for the past 120 years
Look pretty normal to me
http://thestormking.com/Weather/Sierra_Snowfall/sierra_snowfall.html
Comment #20 Posted by: BC | December 3, 2008 04:39 PM
You're right BC, there is no such thing as climate change! Between this news and the one about the Sierra Club being the cause of wildfires, you've managed to change my entire outlook on life in one short day. I want to thank you from the very bottom of my heart. I would write more, but I hear Santa and the Easter Bunny knocking on the front door -- gotta go.
Comment #21 Posted by: Todd Miller | December 3, 2008 05:11 PM
Just showing you the graph, maybe there is global warming, I was just responding to your lack of rainfall justification for the forest fires. The historical graph shows no lack of rainfall.
Comment #22 Posted by: BC | December 3, 2008 07:17 PM
maybe we should put you two in a chat room
Comment #23 Posted by: tit 4 tat | December 3, 2008 07:23 PM
Since, sadly Todd, Global Warming is now irreversible, let's get back to economics and our ridiculous trade policies. Who said this?
It may even be more relevant now, sixteen years later.
Comment #24 Posted by: Anonymous | December 4, 2008 09:46 AM
BTW #24 was me.
Comment #25 Posted by: spk | December 4, 2008 10:25 AM
Thom Hartmann had this guy Steven Moore, of the Club for Growth and Wall Street Journal, on this morning. Moore is one of the key blatherers who have provided so-called intellectual cover for trickle-down economics, "free trade", tax cuts for the rich, deficit spending and destruction of the social safety net (collectively, "Reaganomics").
Hartmann pointed out that our current troubles start with Ronald Reagan and these failed policies, and that these failed policies always have the result of decimating the middle class, inciting bubble economics and, in the short term, economic meltdown.
You could almost see Moore's smirk right through the radio, as said "I disagree," but was unable to cite a fact or rational argument that held up to support his disagreement.
It was nice to see this guy exposed as intellectually bankrupt. It was sad to realize he knows it, but keeps on going.
Too bad Obama has appointed people who have a history of adherence to Moore's bankrupt ideas to his economic team.
For those who recall the Reagan years, remember the advent of homelessness? That was Reagan. Remember when the single earner household gave way to the necessity of the two earner household? That started with Reagan. Remember union and pension-busting? Reagan. Remember "greed is good"?
Bush II and Clinton brought us NAFTA and the repeal of Glass-Steagal. Eight short years after Glass Steagal was repealed, we find ourselves facing exactly the situation that Glass-Steagal was enacted to protect against, and which it did protect us against for nearly 70 years, as AIG, Citigroup and these other financial behemoths which brought speculative trading in-house under Gramm-Leach-Bliley ended up threatening the foundations of the financial system.
Bush II threw away what patrimony we might have had, with endless war, corruption, siphoning of national wealth to the least of us, never-before-heard-of deficits, and now these bailouts.
Todd, while I agree with the premise of your article that it is about choices, my concern is that the choice we would like to see made is no longer among the options. $7 Trillion has been committed to these bailouts. (This is on top of never-before-heard-of deficits and debt, a decimated "consumer", a world realigned to contain and diminish us, etc.) U.S. solvency is now dependent on the federal government doing as the titans of finance - cronies of the Bush administration all - say. They now have control over $7 Trillion - if they default and require the government to pony up on even a small portion of these guarantees, its game over.
I hope I am wrong, but I am afraid we are going to see that Obama's hands have been tied by this incredible move that was permitted to happen in the waning days of the worst Presidency in history. The terrible, terrible choice that should never have been made was to permit people we know cannot be trusted, people we know are not competent to make sound choices even if they were ideologically able to do so, to run this bailout, to permit it to happen at all. We are not better off because these financial institutions have been "saved" on these terms. We really are not.
At the risk of incurring one of Davie's debunked demerits, has anyone considered this: These bailouts, in which the levers of the economy have been handed to a select few, constitute a coup? The Bushies have handed incredible power, through these bailouts, to a select few cronies and favored institutions. And nobody seems to have noticed. (Except Jock?)
Comment #26 Posted by: Anonymous | December 4, 2008 12:40 PM
aye, the agreed upon price we are paying, for the Rockefeller-Cheney-Bush administration to leave the White House to the Rothschild-Biden-Obama administration is $8 Trillion free booty, and counting.
I'm scratching my head here, but the only reason I can imagine that the dollar hasn't ALREADY collapsed to ten cents already -- and all the factories closed -- is that the Rothschild and Global Banksters (whom run global serfdom) love the US people so much that they are willing to run up their own debts for a few more weeks or months to make sure their new administration gets solidly tooted and rooted.
$8 Trillion dollars represents over ten percent of the Global World Product for one year -- so this is NO SMALL SACRIFICE for the world's women, indigenous and poor (viz. Zimbabwe political arrests right now, today).
how long can they get away with it? deflating gold prices forty percent as they have the last few months, in order to deflate 3rd world currencies -- and arranging to cut US gas prices in one half, when they should be going to the sky?
thousands around the world will die, and millions will go hungry, so that we in the US can pretend to have a 'normal' bloated Christmas, New Year's and Superbowl ... and have a last mad dash in our wantonly-consuming automobiles ... before the 'final chit falls' ...
[on a positive note: certainly the US population HAS made some small progress in balancing their own personal checkbooks, in cutting spending and energy use and consumerism and waste. and acknowledging that we are part of a global world and culture, and divine living bio-system. and the world's peoples HAVE noticed and applauded. Great Spirit, Global Consciousness HAS found an instant way to say 'thank you and bless you' ... at this traditional World-Solstice season of welcoming the returning Sun.]
Comment #27 Posted by: mt | December 4, 2008 02:06 PM
Much talk of trees.
Charles Little's brilliant book "The Dying of the Trees"
http://www.ecobooks.com/books/dying.htm
. . . tells the tale of how disease and insect infestation came to trees that grew up in the wake of centuries of North American logging.
What we today call "forests" in no way compare to the true forests that lived strong and majestic on this continent before Europeans invaded with death in their eyes and a religious desire to tame pagan nature in their hearts.
What we today call "forests" are, in comparison to the forests of old, small clumps of short trees growing in soils that for the most part do not suit them, leaving them ripe for insect and other devastation.
Although Europeans have wiped out, not only the original forests on the North American continent, but much of the secondary forests -- leaving little for still-greedy North Americans to consume -- many wish to keep the chain saws running.
As I've written elsewhere on the Ojai Post, Mother Nature has something else in mind: to start fresh, from ashes and from dead trees taken down by the insects who rightfully claim them.
Let the slandering and character assassination by anonymous posters begin.
Sincerely,
Jock Doubleday
Director
Natural Woman, Natural Man, Inc.
A California 501(c)3 Nonprofit Corporation
http://spontaneouscreation.org
Comment #28 Posted by: Jock Doubleday | December 4, 2008 06:58 PM
If that is so then why are all of the forests in europe and the Scandinavian countries maintaining themselves.
Comment #29 Posted by: BC | December 4, 2008 08:47 PM
Jock, thanks for posting the wondrous "Man Who Planted Trees" audio file. I found the beautiful four-part animation of the audio-performance on YouTube, and circulated it yesterday:
http://groups.yahoo.com/group/Seven-Seven/message/3717
Comment #30 Posted by: mt | December 5, 2008 01:05 PM
NEW WORLD ORDER as
GLOBAL MONEY MATRIX SELF DESTRUCTS
Now that the genie is out of the bottle, worldwide economic, financial and political events will proceed with the inexorable force of destiny. The forthcoming changes, shifts and breaks with the past that are delineated below do concern the unsavory business of WHAT, positively, will not be brought into the future. This is of critical importance. Why? Because those who do not know, and understand, and heed history, are always, always forced to repeat it.
I. As we all sat back and waited for this year’s October Surprise, please know that it came a little bit early this year on September 15th which will forever be known as PITCH BLACK MONDAY. Actually, the entire month of October was set up to be a series of Black Monday’s, as well as every other day of the week shaped up to be. It’s really a good time to brace your self since this year’s election cycle, and beyond, will bring with it a whole new season of surprises. Things like the beginning of the end of FIAT money – the real root cause of all our financial problems and economic ills. This foundational flaw, together with all of the multi-layered financial/economic/accounting mechanisms and schemes that have insidiously crept into the system, are the ‘not talked about’ institutionalized culprits and structural deformities that really need to go. Without them, the perps wouldn’t be so tempted to stack the deck against us all the time.
The only legitimate currency is that which is backed by GOLD, or some other precious commodity that is universally valued, and issued directly by the US Government, not a privately owned, organized crime syndicate like the FED. Debt driven, fractional-reserve banking – the real bane of global finance – will then be banished from the planet forever, along with the overlords of disaster capitalism, institutionalized usury & loan-sharking (e.g. World Bank & International Monetary Fund), as well as their economic hitmen. Finally, the central organizing principle of modern society, and especially Western Civilization, will no longer be: maximizing shareholders’ wealth.
The writing is on the wall: THE FED IS DEAD. And so is the Fed’s collection agency – the IRS. The FED has obviously been on extreme life support since September ’08, and the only compassionate response is to let it go peacefully into the sunset. Perhaps we should organize a simple taxpayers’ revolt, not too unlike those that occurred prior to the American Revolution, to bury this beast forever. When the people do wake up, and realize that the Federal Reserve Note that they carry in their pocket is exactly that – a note (i.e. debt, obligation, debit, commitment, instrument of indebtedness), things will start to get REEEEAL interesting !
II. Another little surprise will come in the form of an announcement that goes something like this: The USA was conceived to be a CONSTITUTIONAL REPUBLIC, not a democracy by plutocracy. Or corpocacy, or oligarchy/synarchy, or crony capitalism or any other ism/cracy/archy they have tried to foist upon US. The founding fathers would be absolutely horrified to see the “mob rule by the privileged elites” into which this once great nation has degenerated. Every political philosopher knows that democracy, when sufficiently dumbed down and unduly influenced by the moneyed ruling class, will always devolve into a despotic tyranny. Therefore, the wholesale exportation of our fraudulent notion of democracy, and its supposed freedoms (to buy, buy, buy after watching the boob tube hucksters), by the political and corporate classes must be reconsidered. And it will be soon, on a new channel during this “Fall” season’s new lineup! Stay tuned ---
The recent presidential election, incidentally, is perhaps the most flagrant example of how the US constitutional republic has been suspended (at the very least, once every 4 years, right?). Just as much as the voting populace has been suspended in the state of perpetual ignorance is bliss for generations. Can you imagine – the winner having raised close to $700 MILLION in campaign contributions – just how many debts the president-select* has incurred?! How, pray tell, do you think these debts will be paid back in light of the trillions that are already owed across the world by the US Treasury, US corporations, US citizens, etc. They won’t be paid, because they can’t be paid. The US Corporation is, and has been, bankrupt for quite some time now. It’s stone cold broke and plum busted. And We The People should be thoroughly disgusted. Therefore, this fraudulent corporate entity – US Inc. – can now be trotted off the global stage, so that the REAL Constitutional Republic can be resurrected to its proper place in the nation’s governmental and political life.
*Demoplican or Republocrat – either way, they are still two sides of the exact same coin. The coin of the realm that excludes We The People.
III. Another announcement will be made, in the not too distant future, about the business entity commonly known as the CORPORATION – the main huckster of this ‘brand’ of faux democracy. Surely, if the devil were to ever choose the perfect form in which to enter in order to carry out his nefarious designs, Inc. is it. Is there any other entity on earth – person or party, organization or association, government or institution, jurisdiction or bureaucracy, club or group, fraternity or sorority, etc. that can function with such impunity, as it hides behind the shield of LIMITED LIABILITY. Those two words have given complete cover for the flagrant and wanton destruction of planet Earth.
You name it – oil slicked coastlines, razed rainforests, beaches strewn with dead dolphins and whales. Not to mention the complete erosion of human, civil and national rights, wherever INC decides to set up shop.
Let’s pick a country. Let’s go to India and visit Bhopal of Union Carbide fame. Close to 8000 people died within two weeks of that December day in 1984 in what is known as the worst industrial disaster of the last century. Now that Dow Chemical owns Union Carbide, you can only imagine the veritable phalanx of attorneys who are paid unconscionable fees to ensure proper responsibility and accountability will never be assumed by their master.
Or let’s visit the Punjab and talk to the thousands of widows of farmers who committed suicide because of Monsanto’s “seedless seeds”. Or go to just about anywhere on that subcontinent where a Walmart is being protested for land theft, encroachment and despoilation. Let’s not forget about all the Coca Cola bottling plants that have become notorious for stealing the most precious commodity that every Indian cherishes and covets – WATER. Well, that takes care of land, water, air … and blood. What else in heaven’s name do these stakeholders want?!
We all know the deal. It’s the one where the individual, and his/her environment, is always trampled in favor of the corporate interest. Isn’t it time to really take stock of what our current predicament has left us with? Perhaps it’s also time to seriously think about actually re-ordering the ORDER, instead of once again rearranging the deck chairs on the titanic. Like we’ve said, “optimizing stockholder profit” will soon be history, as the cease and desist orders are not far from being issued to Corporate America. Might as well get a head start on dissolving (or re-chartering) that corporation.
IV. Termination of Globalization: The dominating and predatory form, that is. No other global initiative has been more unsuccessful at creating a framework for a more efficient transfer of goods and services around the planet. Truly, every aspect of this corporate inspired policy has failed miserably. Wherever it promoters trumpet its stated intention to make markets more streamlined, effective and resilient, it has done quite the opposite.
One only needs to look at the current debacle within the European Union concerning the banking, credit, and stock market breakdowns. Never has a response from the appropriate governing bodies been more disorganized, full of mixed messages and working at cross purposes with the member states. It was like watching The Three Stooges (France, Germany & Italy) play musical chairs blindfolded with no clothes on. What an unprecedented spectacle, and in plain view for the entire world to watch! This will undoubtedly put the brakes on the concretizing of a North American Union and their planned currency – the Amero. Praise the Lord!
As a matter of fact, all of the financial unions and economic superstates (e.g. European Union; Southeast Asian Association for Regional Cooperation; Union of South American Nations) that have been created over the past many years will, by sheer necessity and desperation, be forced to re–organize themselves in the coming months and years. Even South America, which has two distinct camps that are constantly gummin’ up the works for each other, will abandon their current emerging model in favor of one that enjoys complete freedom from its North American taskmaster. To their credit, they have set the bar higher than it has ever been set concerning their strongly stated desire to be free of IMF and World Bank control. Only Russia has exceeded their standards, as they had already been fleeced by the Oligarchs in what may very well be the grandest larceny of national wealth/resources in history. This, of course, was preceded by a 75 year scourge of incessant rape, pillaging and plundering by the Bolsheviks and their Western financiers & handlers. Clearly Mr. Putin will not allow a repeat of any such conduct within his borders, and the international persecution that he has suffered certainly reflects their displeasure and frustration with him. No wonder Vladimir Putin is now considered a “reincarnation” of Peter the Great by his own people.
The ruinous influence of these two globalization thugs (IMF & WB) can be instantly assessed by looking at the economic calamities they caused in Argentina (1999-2002), as well as in Thailand, South Korea & Indonesia during the 1997 Asian currency crisis. Likewise, every nation in Africa that has chosen to take on their monetary yoke has only misery and war and financial oppression to show for it. Wherever these 2 scrooges show their faces, it’s quite like Ebenezer himself showing up to make a house call. You know the patient will soon find himself in a pine box after all the gold fillings and rings have been removed.
We have seen this globalization scam unfold in country after country, as a ruse to steal a nation’s resources, always taking from those who have, and giving to those who want it. In fact, an objective assessment of all the world’s current conflicts would reveal that the vast majority are directly the result of this geo-political/commercial dynamic. The privatization of water sources/bodies/supplies/rights is perhaps the most provocative and glaring, and can be found at the root of a number of these resource wars.
Clearly the verdict has been delivered: Economies are much less vulnerable, the more locally they are positioned and the less centralized their decision-making process. This arrangement affords much greater resiliency when dealing with the vicissitudes of the marketplace. And it takes the power away from those who are insulated in ivory towers, and far from the plight of the common man. It is time for everyone on the planet to “think globally; act locally”.
V. Stock market will become extinct. There is no greater tool at the disposal of those who can, and do, manipulate the various markets than the charade of “setting up” a formal system of trading, buying and selling of anything, as exemplified by the NYSE. This is where it all happens. From devastating whole national (and regional) economies, to toppling uncooperative corporate execs, to bringing 150 year old multi-billion $$$ companies to their knees within a week’s time. From triggering stockholder revolts, to propping up corporate raiders, to extorting billions from national and/or corporate treasuries. They can, and do, do it all right there on the floor.
Really, the very best example of what occurs in these speculative market exchanges is the gambling casino. In Vegas, everyone knows that the house ALWAYS wins. It never loses. Even when there is the appearance of losing, it still wins. Go figure, but it’s true. Your stockbroker is not too unlike the blackjack dealer. And your financial planner is often a croupier in disguise. So, the question remains, do you honestly know what your hard earned retirement money is invested in? If not, this is a very good time to find out!!!
For those of us who have been there, we know that whether you call it an oil bourse, a commodity exchange, or a bond market, you’re still playing in a game that can go against you at any time. Wipe out your earnings in a heartbeat; devour your principal in a flash. It’s often been said that when he comes, “he comes like a thief in the night”. Do you still feel you know where your entire life savings is currently residing?
The derivatives market represents the single greatest threat to worldwide economic stability and financial security. It poses such great potential for financial abuse and economic devastation that the current institutional arrangements of this commercial realm have become completely unacceptable. The alarming proliferation of hedge funds, as well as the growing number and variety of derivative instruments, has reached a critical mass that is incompatible with living a financially sound life on planet Earth. Simply put, some of these instruments are so far from the street – economic reality – that they put into jeopardy all the hard work, which appears in the form of real goods and services, that is produced by any economy at any given time. This predicament signifies a CLEAR AND PRESENT DANGER to us all.
Remember – DERIVATIVES are the real megilla. Derivatives, by their very nature, can be highly radioactive, and can go nuclear any time circumstances conspire in just the right, or wrong, way. Those who control their destiny can, likewise, utilize their inherent threat as a means of conducting financial and economic terrorism anytime, anywhere completely under the radar screen. It’s time for them to go. And we trust it’s just a matter of execution at this point.
VI. Mass Consumerism & Perpetual Economic Growth – the Fric & Frac of our Age – are history. One need not look any further than the inside of one’s own home to see the ravages of these adopted twins. They own the bedroom, the living room, the family room and all the closets. They’ve taken over the kitchen, the den and the garage, as well. Since their middle names are Amass and Accumulate, we can only imagine what might lay hidden in the attic, the basement and the shed.
Ever since they became the twin pillars of Kali Yuga’s overarching philosophy of life, things started to really go to hell in a handbasket … or rather gilded cage. How so? What else could one expect from a political economy that demands growth, necessitates growth and extols the virtues of growth at every turn (and on every other commercial and newscast). Growth, at the expense of WHAT!! We’ll tell you what – Life!
One of the most tragic parts of this ever-unfolding tragedy has been the dramatic change in the spirit of the people with whom these twins associate. The very society loses its refinement, as the culture becomes debased. Aren’t so many things associated with Americana experienced as coarse, and crude, and crass? Likewise, the nation, which was once known as the “land of the free; home of the brave”, morphs into a country reviled for its unkindness, lack of compassion and cruelty. Before anyone realizes, the citizenry is easily being herded, and then stampeded, into wars and conflict of every sort and kind.
What else could be expected when the meme of consumerism is subliminally implanted at such a young and tender age, and relentlessly reinforced from cradle to grave? And, what does it really say about a society when all who belong to it are known as consumers. Kind of like little pac-men (and pac-women) gobbling up everything in sight. Starts out with BIG Macs and 24 oz cokes, then super-sized HUMMERS, then oil fields and gold mines and precious rainforests, and then whole countries.
Likewise, in the corporate realm, any board director, company officer, division president, regional director, department manager, production supervisor, etc. will candidly speak to the greatest pressure in their lives. More income, more sales, more profit, more production, more revenue – anything that will show an increase in year over year growth. Always gotta GROW, even though yuv been out of puberty for 20 or 30 years!?
Well, you can imagine that this state of affairs can only go on for so long. As a matter of fact, this party’s now over. And the hangover is about to begin. Perhaps it’s time to send these twins on a permanent vacation to the waterless region.
VII. War, as a means of wealth creation, is now bankrupt. War, as a means of conflict resolution, is over. As a means to any end whatsoever, war is finished. You get the picture, don’t you? War has outlived its usefulness, and has become as obsolete as the derivatives hawker. There is simply no more place for it in civil society. It’s time for the curtain to fall on this show for the last time, and for all of its bad actors to hit the stage exit.
It never was a legitimate policy for conflict resolution, as we know. Virtually all conflicts and wars were manufactured in the boardrooms of the world. And impeccably stage managed by the directors of the war studios. Isn’t the Iraq war a perfect example of this kind of terrible and awful-to-watch “B” movie?
Any deliberate, probing and unprejudiced analysis of all the major wars going back to the French Revolution will reveal an extraordinary degree of carefully calculated and coordinated events leading up to the actual conflagrations we call war. Just read the actual history that is only now beginning to surface, and you will reach this very same conclusion.
War has consistently served its masters in three ways which no longer have relevance in an enlightened civilization: (i) population control (ii) artificial creation of wealth for the plutocracy (iii) imposition of a tyrannical order in the wake of the chaos that always results from war. Population control in this context has different meanings. The number of people who are systematically genocided, wantonly annihilated and deliberately infected with disease agents serve the purpose of population reduction. Then there is the sheer terror of war and its effects on whole populations (see how easily controlled both the Germans and Japanese were after WWII). “Order out of chaos” is made easy when all concerned parties have been faced with the extraordinary distraction, mayhem and pandemonium that war always brings.
There are, of course, many other declared wars whose battlegrounds are far from the traditional battlefields of armed conflict. The WAR on Drugs. The WAR on Poverty. The WAR on Crime. The WAR on AIDS. Just like the WAR on TERROR, all of these so-called wars are entirely bogus and fabricated, as they all have consistently produced outcomes that are completely contrary to their stated purposes. How so? Because each of them has been designed, and engineered, to perpetuate and expand the status quo. The War on Drugs, for instance, was designed in part to ensure that the opium (and all of its profitable derivatives) flows freely and efficiently from the poppy fields of Afghanistan to the targeted markets in America and elsewhere. In this way, all clandestine US and foreign intelligence agencies/secrets services are able to fund their innumerable black operations without any congressional oversight or public scrutiny from the massive revenues generated that this perfectly controlled black market provides. Oh, yes, did we forget to mention that most of these black ops are actually wars as well. What a Racket?! As Major General Smedley Butler once proclaimed to the world in his book: “WAR IS A RACKET.”
May the shadow governments of the warmongering and real “Axis of Evil” – the USA, the UK and Israel – truly imbibe the message contained in this ongoing proclamation: WAR is no longer an option. For each of these nations is facing an economic armegeddon of staggering and unprecedented proportions. When confronted with such an incapacitating monetary meltdown, the impulse and subsequent orchestrated plan, historically, has been to provoke wars through false flag attacks/operations. This knee-jerk, yet carefully calculated, reaction will no longer work. The consequential global financial apocalypse, this time around, will simply be too demanding and debilitating, especially for those who would attempt to plunge the planet into a WWIII scenario. Why? The global money matrix, that supports and keeps their war machine well-oiled, has been in a slow motion collapse for many years, and is now in an epoch crashing free-fall. It’s disintegrating before our eyes, and will soon be unable to fund not so much as a dustup in the neighborhood sandlot.
The 4th Reich has completely run its course. This last covert phase of the “Holy Roman Empire” is finally over. And it’s now imperative that the maestro, and his orchestra, in ‘Rome’ get over it. Let us once again proclaim, here and now, that: WAR HAS COME TO AN END.
VIII. There is a very profound and significant connection between the US Government sponsored and staged terrorist attacks of 9/11/01 and the PRE-PLANNED Financial & Economic 9/11 of 2008 that may be difficult for many to fully embrace. But here it goes:
The OMEN that 911 truly was, looks a little bit like THE LORD OF THE RINGS.
Remember the Twin Towers? When they came down in NYC, it was a message to humankind that the reign of the Almighty Dollar was coming to an end. As a nation’s currency goes, so goes its destiny. Her financial strength and economic prowess were on the wane, and soon to be greatly diminished. Just as the WTC (financial capital of the world) was pulverized into dust, the US Dollar would be swept into the ash heap of history. Just as we see it collapsing all around us, exactly 7 years after the original 911 apocalyptic events.
When the Ring of Power was finally destroyed, like the Pentagon (ring-shaped command center of the military-industrial complex) was mortally wounded and damaged, the message was equally clear. Her military might and superior force would be reduced to rubble in the twinkling of an eye. She would, likewise, soon see the demise of Her all-pervasive state sponsored terrorism. This, because She had lost all moral ascendancy. Besides, the empire could no longer be sustained politically, financially, practically or ethically, as the seeds of its own destruction had fully sprouted. The most fatal seed grew into that extremely corrupt and predatory form of corporate, crony capitalism which was so socially unconscious, and so environmentally unaware, it was quite doomed from the very beginning.
The GOOD NEWS is that the nation – its people – will now be compelled to beat their “swords into plowshares” and their “spears into pruning hooks”.
Just as the Phoenix rose from its ashes, so too will America ascend to even greater heights. As long as She ascends with the guidance of the highest of ideals, loftiest of principles and noblest of intentions. And She reforms, and transforms Herself, in good faith, in earnest and with haste.
As a modern day prophet said in the days immediately following September 11, 2001:
“America, Wake up ! ! ! Seize this God-given opportunity. There is no more time to dally in fear and ignorance and greed. For yours is a destiny that must serve as a beacon of Light and Hope and Peace to the world. Make haste, the time is drawing nigh!”
T. Anthony Michael
11/22/08
Publication, posting and printing of this article is expressly authorized.
Special Message to the Market Oracles and Money Masters of the Universe
Our “PRE-PLANNED FIN/ECO 911 of ’08” scenario in no way ignores the true state of the national economy, international finance or global economic picture. In fact we are, and have been, fully cognizant of the fact that the true state of every market – real estate, equity, bond, commodities, currency, derivative, etc. has been in shambles for many years, just waiting for the Perfect Storm to come around and blow it all away.
It has been obvious to many of us that each of these markets have operated according to the whim of a very few individuals with extremely concentrated power to manipulate. Therefore, all markets can be artificially inflated, as we have seen time and time again. Likewise, they can be artificially deflated, sometimes rather quickly for effect, as we have seen. “The Invisible Hand” of the market is just that – a very carefully hidden(1) hand that makes a complete and total mockery of every economic and financial theory ever advanced. Time for a lot of us to accept this fact of modern economic life.
Perhaps we should now take off our blinders and admit that while, yes, all of the indicators are, and have been, there for a catastrophic economic meltdown & financial cataclysm, these events are still completely controllable. All of us have seen bubble after bubble grow and balloon, and merge and overlap, and inextricably interpenetrate each other, until all we have is one massive bubble ready to pop. But, when will it pop?! It will pop when the confidence level is sufficiently undermined by the very same MEDIA that controls the flow of the relevant information. And who, pray tell, controls the media, if not The Invisible Hand? Clearly, the real Market Oracles are not a part of that MSM juggernaut. Therefore, it is incumbent upon each oracle to get it right, since they are the very best sources of pertinent financial and economic data/information available.
The inevitability of self destructive capitalism does not preclude the process of controlled destruction/demolition. As the system eats itself, there are those who are eaten, and those who eat. We are witnessing this devolution in living color, as we both write and read these words. The “strong” at the top of the pyramid have always done the eating, as the “weak” at the bottom provide the bone for the stew. The only major difference at this particular, and final, feast is that the internet has allowed for an unprecedented explosion of true and accurate information in real time. Therefore, the playing field has been leveled like never before. The little guy or gal, for the first time ever, has the opportunity to take back a little, or a lot, of his/her power (WEALTH), should he/she so choose.
Even as the Wall Street gangs team up with the opportunistic political class, as well as the numerous corporate/legal jackals and lobby parasites, to effectuate the most massive redistribution of wealth (aka in your face THEFT) in recorded history, something has profoundly and fundamentally changed. There is a dynamic at work which can alter the game just enough to potentially turn the pyramid upside down. This, however, requires a no nonsense, “look in the mirror with raw honesty” approach. Then we (the oracles) will not deign to render a judgment that is not fully baked. And the recommendations we make are more likely to be issued in the best interest of ALL, especially for those who are in a position of class disadvantage, financial ignorance or structured powerlessness.
So, we have made it clear that all the forces have been put into place for the upcoming monetary apocalypse. But even these forces are controlled, each and every one of them, all the way up to the top. It’s probably a very good time to contemplate just who it is that resides at the peak of the global financial decision-making process. And, their agenda?!?
Comment #31 Posted by: Nick Roerich | December 5, 2008 02:11 PM
I am not an economist so I offer no data here to fuel this discussion, just my opinions. I believe that this economic crash was inevitable due in part to the recent artificial bubble created by excessive consumer debt and overvaluation of real estate, but mainly is attributable to the colossal waste of natural and human resources we, as a nation, have indulged in since we, effectively, stole this land from the Native Americans. So, yes, I think we had it coming but I see this crisis as an opportunity to change our ways and reinvent the way we do business, the way we live our lives. I get downright patriotic when I think about the proverbial American ingenuity we have displayed so often in our history when faced with adversity. With the type of confident, inspirational leadership we hope is coming in January, we can do this (yes we can).
Growing the economy is as much about the Consumer Confidence Index as it is about any other "hard" data. Each month The Conference Board surveys 5,000 U.S. households. The survey consists of five questions that ask the respondents’ opinions about the following:
Current business conditions
Business conditions for the next six months
Current employment conditions
Employment conditions for the next six months
Total family income for the next six months
Notice that it just asks for the respondents "opinions." Yet this "soft" data is consulted religiously by those who make economic policy, decide interest rates, hire employees, etc. True, it's hard to know sometimes if the dog is wagging the tail or the other way around but my point is that consumer confidence is one of those intangibles that can influence the direction of the economy as much as anything else. And it can, in turn, be influenced by factors such as a charismatic president with the right ideas.
I would encourage our new president to engage all Americans in direct actions that recapture some of the resources we have squandered (human and otherwise) toward building a new sustainable economy. For example, how about a nationwide scrap metal drive? Think of how many cars, pipes and other pieces of metal are rusting in our fields, yards and along our highways. This resource could be converted into new pipes for rooftop solar water heating systems or mounts for solar electric panels. Laid-off auto workers could be retrained to build and install such systems.
Like a broken record, I keep referring people to Buckminster Fuller's sadly overlooked classic, "Operating Manual for Spaceship Earth." It contains a concise history of how we got into the mess we're in, the illusions that keep us here, and the solutions available to move us through.
Comment #32 Posted by: Lanny | December 5, 2008 03:12 PM
go milliwuein go!!!
Comment #33 Posted by: Ant Bee | December 5, 2008 06:52 PM
kia ora, Nick,
and blessings too to T. Anthony Michael!
the World Fascist Patriarchal Oder is finished. the Corporate State, the Secret Government, aka Capitalism (and Communism).
and Lanny, the recent bubble which is responsible for the collapse of World AntiCivilization is the last half-century of the US consuming ten times it's share of the planet's resources, at covert gunpoint.
not to mention the last several thousand years of global rapacity laying waste to women, the indigenous, world culture, and Mother Earth.
our ONLY course available now, for those who wish to live, is that determined by our World Judgement 2008, aka Global Consciousness, the Adi Shakti, the Ma Adi, the Ma Treyah, Maschiak, Messiah --
to reforest the planet, return the rainforests and wetlands and rivers and pure oceans and atmosphere ... to work TOGETHER planetwide, continent-wide, and locally to emplace permaculture everywhere ...
and to honour and respect and empower women, children, the indigenous, the workers and the poor -- and ALL cultures, their nonviolent aspects --
in HER returning, our individual and global divinity.
aka all our sacred relations,
Millennium Twain
Comment #34 Posted by: Millennium Twain | December 5, 2008 07:03 PM
To Anonymous #26:
As noted in a previous thread, Davy's Demerits are reserved for Ojai Post Authors, and do not apply to mere commenters.
Moreover, Demerits are designed to flag Material and Demonstrable Misstatements of Fact. Your vague musings about a coup are merely cloudy paranoia, and so don't qualify on those grounds either.
Sorry to disappoint you.
Comment #35 Posted by: david | December 5, 2008 08:38 PM
HARARE, Dec 6 - Inflation-wracked Zimbabwe plans to introduce a 200 million dollar note just days after a 100 million dollar note came into circulation, the government announced Saturday.
CARACAS - Assasinations of Labor Leaders ...
LA PAZ - US-sponsored mass murders in Bolivia ...
Comment #36 Posted by: afp | December 6, 2008 01:35 AM
Comment 31 by Nick R. is like a gift from St. Nick on this his feast day of Dec. 6. Information like this is a gift in the proverbial stocking. We indeed are the oracles that can bring understanding and change; all of us individually and collectively. The OP is doing a wonderful service in providing this medium by allowing Ojai to reveal her true nature.
I'm in the winter wonderland of Wisconsin and Michigan with Obama's Chicago in the middle. Traveling by train with my son, visiting old friends and learning a lot. But nothing beats the OP even from this distance.
Keep up the good work. I hang on every word. BTW, thanks for the tip on the cutting of threads.
Nick asks the right question in the nick of time. Is there a single individual or family at the top of the pyramid? Is this the true question to ask or is it an instance of conspiracy theory gone awry? The world may hang on the thread of that question and its implications.
Comment #37 Posted by: Dennis Leary | December 6, 2008 07:13 AM
DETROIT - US sheds 533,000 jobs ...
JERUSALEM - Gaza banks close for want of cash ...
STOCKHOLM - High-spending Swedes slightly deterred by world crisis ...
LONDON - The whole town "stood there to look on" ...
http://www.youtube.com/watch?v=iEZIKSm78k8
Comment #38 Posted by: afp | December 6, 2008 10:14 AM
"no Sir, we will not do this any more.."
end of World Violence, through love..
http://www.youtube.com/watch?v=RTfqIpUiKcY
Comment #39 Posted by: Cal | December 6, 2008 11:07 AM
Don't panic America, spend! When it comes time to pay our debts back, we can simply fire up the ol' printing presses. The rest of the world will be forced to accept our paper in lieu of those debts. If need be, we can could drop tons of US dollars from helicopters in order to get the new money circulating.
Comment #40 Posted by: Federal Reserve Chairman Ben Bernanke | December 7, 2008 01:48 PM
BANGKOK, Dec 7 - Thailand's political crisis is battering the kingdom's economy just as the global financial crisis begins to bite, analysts say, but a power vacuum at the top means nothing is being done to help.
Thailand is without a government after a court last week dissolved the ruling party, following a devastating eight-day blockade of Bangkok's airports by demonstrators trying to topple the administration.
The lack of leadership comes as the economy faces not only lagging demand for the tourism, commodities and manufactured exports which propel the Thai economy, but also reduced spending at home amid the political uncertainty.
Comment #41 Posted by: afp | December 7, 2008 05:40 PM
Publisher and broadcaster Tribune Co. is preparing for a possible bankruptcy-protection filing as soon as this week! Tribune Co., whose newspapers include the Chicago Tribune and Los Angeles Times, in recent days has hired Lazard Ltd. as its financial adviser and a legal counsel for a possible trip through bankruptcy court, the paper reported, citing people familiar with the matter.
The paper said Tribune has been on wobbly footing since last December, when real-estate mogul Sam Zell led a debt-backed deal to take the company private.
Tribune so far has stayed ahead of its $12 billion in borrowings with the help of asset sales, but dwindling profits are now tightening the noose, it said! The company's cash flow may not be enough to cover nearly $1 billion in interest payments this year, and Tribune owes a $512 million debt payment in June, the paper said.
Comment #42 Posted by: wsj | December 7, 2008 06:50 PM
I just left Chicago today and will return to the LA area next week.
The "Times" are a changing. Even the "Tribunes" of the empire are debt slaves.
The masters prepare to move in for the financial kill when investors will be divested.
It's the same old patriarchal game taken to a new level. The only way to win is not to play by the rules of the empire.
Millenium and Jock may not be entirely right but they're not wrong. Even if the system succeeds in saving itself and enslaving all that moves, I will take satisfaction in knowing the truth, thanks in part to the Ojai Post and its two prophets, one inside and one outside the authorship pale.
The truth about money is sex. It's all about who's on top.
The truth about sex is love. It's all about who's in touch.
I love to keep in touch with Ojai, even from over 2000 miles. She's seen best from a distance. Up close, she's not that big.
Comment #43 Posted by: Dennis Leary | December 8, 2008 07:59 PM
these three monarchist idiots want to expand the rape of our Mother Earth, and their slaughter of women and indigenous and poor, all on behest of the Pyramid of Rothschild ...
British Prime Minister Gordon Brown met with French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso outside 10 Downing Street in London. A world trade deal is within reach in the "next few days," Brown said today.
LONDON (AFP) - Speaking after talks with French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso, Brown warned the world had reached the "11th hour" and urged countries to "work together ... to send a signal against protectionism. " "We are convinced that a world trade deal, that is within our grasps in the next few days, is something that all countries in the world must now push with great priority," he said. "Protectionism is something that we must both avoid and fight against in the course of the next few months. "We believe that any resort to [cultural and environmental] protectionism would delay any [gangster] recovery and would be to repeat the mistakes of the past." In Geneva trade sources said key negotiating problems remained and there was as yet no date set for a World Trade Organization ministerial meeting before the end of the year. WTO members are struggling to conclude a global deal under the seven-year-old Doha round of talks that would reduce barriers to trade in goods and services.
Comment #44 Posted by: mt | December 8, 2008 08:42 PM
Bloody Zero RE: an end to Rockefeller/Rothschild "World Rape As Usual" ...
It is true, you can read about it on the Xinhua news site: China will not buy any more US treasuries:
http://news.xinhuanet.com/english/2008-12/09/content_10475813.htm
Their goose is cooked. Think Wiley E. Coyote just run off a cliff and looking down. The good news is the drop will be over quickly. Think summer of 2009.
Benjamin Fulford, Japan
~~
~~~
MT wrote:
as usual, Howard,
your analysis is shallow duck manure.
http://www.ojaipost.com/2008/12/hunting_the_black_swan.shtml
the history of this global depression is fifty years of US consumption of 5-10 times their share of global money and resources ... rape at gunpoint ...
on top of several thousand years of 'civilization's' greedy pursuit of same mindlessness.
yes, the biggest gangster instruments of theft on the planet are the insider derivatives practice of the HedgeFunders, Shortsellers -- and a recent modest addition to that violence would be the leveraged credit default
swaps --
and viz. the insider (security state) practice of global
gold-price-fixing to devalue world currencies.
yet all of these have become trivial now compared to the Ruling Class' over-arching control of governments and their treasuries, government reserve banks, the media and the markets to just outright takeover any bank or industry or corporation or country in the world -- by collapsing
their stock valuation or economy -- and handing ownership of same, at fire-sale prices, to their gangland buddies.
fifty years ago, even twenty years ago, you would have been 'right' Howard, but not correct or ethical. yes, then, we could have, and we did, bulldoze ahead with our own fascist economy -- by decimating the cultures and environment of the whole planet -- but fortunately now this is no longer possible.
as the people of the world are no longer willing to be victimized by us, and are now as powerful as us and have stood up and said "no".
no to the wannabe Ducks and their campaign of Uncle Sam's rapacious business as usual!
with and for all our sacred relations,
Millennium Twain
..
Comment #45 Posted by: millennium | December 8, 2008 10:43 PM
MT,
As usual... You're off the deep end of the diving board without a life jacket. As ever, behind the facade of sainthood, you remain clueless and always will. A pity that we can watch a brain decay before our very eyes.
Comment #46 Posted by: dharma | December 9, 2008 06:17 AM
"Very little has changed."
"India should allow Pepsi Cola on the Indian market, or 'their economy will suffer'."
"When Pepsi (and Anaconda Copper and AT&T) decided it didn't like Chile's democratically elected Salvador Allende, the CIA took care of him, just like they tried to do with Hugo Chavez a few years ago."
"Resistance to the US is growing, but needs more time."
"The 19th century was the century of the British, the 20th of the Americans and the 21st of the Chinese, but the transition has just started."
Comment #47 Posted by: dch | December 9, 2008 08:45 AM
THE WAR IS OVER!
if you want it
. . . ! . . .
http://imaginepeace.com/news/war-is-over
Comment #48 Posted by: John and Yoko | December 9, 2008 09:04 AM
Nick,
1) Thanks for speaking the truth about the false-flag event of 9/11. It is heartening that people around the globe are waking up to the truth on this issue.
Amazingly, a popular bishop named Richard Williamson recently gave a sermon exposing the official story of 9/11:
http://www.youtube.com/watch?v=EJhfQSspj2Q
2) You also wrote: "Just as the Phoenix rose from its ashes, so too will America ascend to even greater heights."
Actually, many states are in the process of seceding from the Union -- to escape the corrupt hand of the federal government, which is itself a puppet of the even more corrupt Illuminati:
http://www.youtube.com/watch?v=b9UX2KA0mDE
Secession will effectively dismantle the United States.
Good people (most of us) will survive the Illuminati's latest grab for world domination / population reduction. Many of us may "ascend to even greater heights." But America itself will shapeshift into more sensible units -- probably eventually returning to the tribal village model.
Nationhood will not save us. Globalization will not save us.
Planting trees and creating backyard and frontyard gardens, however, will give us a good chance of surviving what's coming -- and then of thriving!
A free inspirational audio file called "The Man Who Planted Trees":
http://therevolutionwillnotbeorganized.org/downloads/The_Man_Who_Planted_Trees.mp3
Viva las Acornistas!
Sincerely,
Jock Doubleday
http://therevolutionwillnotbeorganized.org
Comment #49 Posted by: Jock Doubleday | December 9, 2008 10:12 AM