Monday, January 4, 2010

James Quinn: Road to Perdition

by James Quinn article link

As disaster draws near, the two crooked political parties that are controlled by corporate and banking interests spout their usual mantras. The Democratic solution is to tax the “rich” and spread the wealth around by squandering our tax dollars on stimulus programs, jobs programs, welfare programs, foreign wars and bailing out their banker masters. The Republican answer is to reduce taxes on the “rich”, boost defense spending, issue tax rebate checks, and frittering away our tax dollars on foreign wars, while bailing out their banker masters. The differences between the two parties are inconsequential. Neither party have ever reduced government spending and neither party will ever take on the military industrial complex or the entitlement system. These dishonest politicians have devastated the American dream. Sound fiscal, monetary and tax policy were discarded in 1913 with the creation of the Federal Reserve and the institution of the income tax. Politicians were given a green light to spend taxpayer money and borrowed money in order to get re-elected. The Federal Reserve has provided the liquidity by inflating away 97% of the value of the USD. ...

We haven’t had true capitalism since 1913. We live in a corporate fascist state dominated by the military industrial complex, the financial banking complex, and now the healthcare industry complex. ...

The United States owes foreign countries $3.5 trillion today. Our obligation to foreigners has risen by $500 billion in the last 12 months. The Obama spending plans will require the issuance of $2.2 trillion of new debt this year. We will need foreigners to buy close to $1 trillion of our debt in 2010. The Chinese already own 25% of our outstanding debt, with Japan at 23% and OPEC at 6%. They know our budgets project $13 trillion in deficits over the next 10 years. They know Ben (ameba spine) Bernanke is trying to inflate away this debt through inflation and a lower dollar. They know they are guaranteed to lose billions if they buy Treasuries paying 3%. They are not fools. They will eventually choke on this debt and vomit it back in our face. With mammoth debts, gargantuan unfunded liabilities, massive unemployment, a far flung military empire, multiple wars, and an overconfident, clueless, lethargic population, the surge in interest rates and hyperinflation will topple this bloated crumbling kingdom.

When the current economic scheme breaks down and the country dissolves in disarray because there is no courage, truthfulness or morality left in Washington DC, anything is possible. When governments are confronted with intractable domestic problems, they seek a foreign threat to distract the public. Our economic malfeasance and oil shortages will likely spark a World War III scenario with the Muslim world at odds with the Christian world. With nukes in the possession of many countries, terrifying outcomes are easy to imagine. The people of America will have a choice to make. They can put another brick in the wall, or they can try to break free. They can choose to take back their freedom and liberty or relinquish their last vestiges of humanity to a fascist dictatorship. Together we stand, divided we fall.

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