The criminals posing as the US Federal Government have pledged to give $8.56 trillion to their pals, so far.
The money will be used to consolidate the power of the select corporate criminals so that they can take their place in the fascist corporate police state. It will NOT be used to stimulate the economy as promised. Much of the money will ultimately end up offshore and converted to other currencies.
When KGB tough Putin engineered the demise of democracy in Russia one of the first things he did was to give away state assets to create a new cadre of the mega-wealthy to help him rule the country and control its wealth. These oligarchs help ensure that the rich get richer and the poor stay poor and disempowered.
The problem with trying to pull off the same thing in the US is that it will bankrupt the country. The US can’t service the debt it already has without borrowing more and more money. Adding more debt will inevitably lead to default on debt payments and the collapse of the US dollar.
When Bush took office the US was actually running an annual surplus and in a position to reduce its debt. Within months of taking office, Bush had given away the entire $500 billion surplus to his corporate masters and started racking up a massive debt.
Under Bush, the US federal debt went from 2 trillion to 10 trillion and will climb to close to 20 trillion before long. At the same time, the US is now running close to a trillion dollar deficit each year. Servicing the debt is now the third line item in the national budget and will soon climb to number 2.
When you add in the amount of state, county and municipal debt along with consumer debt, the amount is staggering.
Most of the federal debt is in the form of bonds helds by foreign investors. Those investors know that the whole US economy is a house of cards and the first country that tries to cash in too many bonds will cause the collapse.
There is no longer any reasonable question of an economic collapse. The real question now is when it will happen.
The entire sordid affair is not an accident. It was carefully planned well in advance and is being rolled out on a fixed schedule.
In order for it to happen Clinton had to change banking laws to allow banks and non-banks to make bad mortgage loans and then sell the bad loans as securities. These securities were then given high ratings even though it was widely known that the paper was junk. The powerful jewish bankers of Wall Street then sold the junk paper all over the world. Many of the people buying the junk paper knew what they were buying but were in on the plan and have been richly rewarded.
The next step was to jack up the price of oil and food at the same time as the payments on the bad loans increased so that millions of people would not be able to make their mortgage payments. Then, to make matters worse the companies holding the mortgages refused to let people negotiate better payments or to stay in the houses and pay rent. The houses were emptied and vandalized so that their values would plummet and drag down house prices in general.
At any time the federal government could have stepped in and done something to help, but it didn’t. It only made matters worse. The inevitable economic slowdown was then used as an excuse by large corporations to lay off massive numbers of workers, adding further fuel to the fire.
Many of the corporations which were laying off people, such as airlines and auto manufacturers had taken deliberate steps to sabotage themeselves to make it appear that they were in worse shape than they actually were.
Airlines did all they could to discourage anyone from flying and auto makers refused to sell fuel efficient vehicles while spending huge amounts advertising overpriced gas guzzlers no one wanted. At the same time they were quietly selling fuel efficient cars outside the US and are still doing so. Even today, the most fuel efficient cars made by the big 3 are sold only outside the US. Even Mercedes won’t sell its 75 MPG diesel SMART car in the US, but it sells lots of them in Canada and the rest of the world.
Because TV told them to, Americans eagerly elected a mind-controlled puppet owned by the ruling elite who will do their bidding. Congress has long been corrupted beyond hope. While Americans had their heads in their TVs their country was stolen from them. The American dream is now turning into the America nightmare.
The real economy is still relatively healthy in many parts of the country. State, county and city spending is continuing to drive some local business. A lot of Americans still have disposable income. Unemployment is still not that high in most states yet and some companies are actually hiring new workers.
While the pretend economy of Wall Street Bankers was shattered on purpose, it will take more pressure to bring down the real economy. One way to do that will be to collapse the value of the US dollar. At present the value of the dollar is being kept high by the looting by the Federal Reserve. US bonds have to be purchased in US dollars which means that foreign bond buyers must first buy dollars, which keeps them artifically higher in value.
Once the trillions of dollars in bonds has been sold, the dollar will start to drop and once it does, other bond holders will try to cash in their bonds. At some point the Federal Reserve will not be able to sell new bonds in order to service prior bonds.
There is only so much money in the world and trillions of it has already vanished into the sub-prime black hole. Trillions more are currently pouring into the Federal Reserve and going right back out to the same parties who caused the problem in the first place.
Once the collapse has occured, it is likely that the US will declare martial law, stage riots and looting and deploy troops to disarm civilians. The evil puppet governments in Canada and Mexico will then eagerly support the formation of a North American Union and the roll out of the new Amero currency.
By the time the Amero rolls out most of North America will be under the control of a few criminal corporations. Not copyrighted