It's bankruptcy
By Justin Raimondo
"......Our economic terror alert, if such a thing existed, ought to be at the brightest red, because what we’re facing is the biggest threat to our national security ever: I’m talking about the spiraling national debt, and the ongoing destruction of the dollar.
People realize this, albeit in an indirect way: that’s what all this “tea party” noise is about, although the tea partiers themselves, for the most part, don’t realize the enormity and immediacy of the threat. Somewhere in the background, just below the level of consciousness, a time-bomb is tick-ticking away. Some people hear it, in various degrees of loudness, while others are deaf to this ominous sound.
The day after the election, the Federal Reserve made a little-noticed announcement that it’s printing up another $1 trillion. Go here for a fuller explanation of how and why it happened, and what it means. Suffice to say here that what goes up must come down: a bubble, inflated, must eventually pop. That’s simple enough, but let’s take it one step further: the hubris that inspires the Fed to print up more play money, which will drive up inflation, increase the cost of imports (i.e. everything), and make goods more expensive for average Americans is in the same league as that which inspired George W. Bush and his minions to declare a “war on terrorism,” invade the Middle East, and imagine they would prevail.
The irony is that the former will be the undoing of the latter: the destruction of the dollar means the implosion of the American empire, and the relegation of the US to what used to be called – in more politically incorrect times – a “Third World” nation. ....."
By Justin Raimondo
"......Our economic terror alert, if such a thing existed, ought to be at the brightest red, because what we’re facing is the biggest threat to our national security ever: I’m talking about the spiraling national debt, and the ongoing destruction of the dollar.
People realize this, albeit in an indirect way: that’s what all this “tea party” noise is about, although the tea partiers themselves, for the most part, don’t realize the enormity and immediacy of the threat. Somewhere in the background, just below the level of consciousness, a time-bomb is tick-ticking away. Some people hear it, in various degrees of loudness, while others are deaf to this ominous sound.
The day after the election, the Federal Reserve made a little-noticed announcement that it’s printing up another $1 trillion. Go here for a fuller explanation of how and why it happened, and what it means. Suffice to say here that what goes up must come down: a bubble, inflated, must eventually pop. That’s simple enough, but let’s take it one step further: the hubris that inspires the Fed to print up more play money, which will drive up inflation, increase the cost of imports (i.e. everything), and make goods more expensive for average Americans is in the same league as that which inspired George W. Bush and his minions to declare a “war on terrorism,” invade the Middle East, and imagine they would prevail.
The irony is that the former will be the undoing of the latter: the destruction of the dollar means the implosion of the American empire, and the relegation of the US to what used to be called – in more politically incorrect times – a “Third World” nation. ....."
No comments:
Post a Comment