From the Ramparts
Junious Ricardo Stanton
The Boy Who Cried Wolf
Against my better judgement I watched George W Bush’s address to the nation last night. I wanted to see how he was going to spin the latest rip off and fraudulent scheme his handlers and puppeteers have cooked up to fleece us of our hard earned wealth and assets. Sure enough it was a more subdued rehash of the same script he used to sell the disastrous invasion of Iraq and we know how that turned out. Substitute “weapons of mass destruction” for “the economy will tank” and you get my drift. The game is the same, it’s the same drill they used with 9-11: constant fear mongering, rush to judgement and action to get us to accede even more of our lives over to the ruling oligarchy! I’m not saying the economy isn’t in tatters. I’m not saying 9-11 didn’t happen. But just like 9-11 happened under Bu$h’s watch and at the very least was due to their malfeasance and willful neglect of duty, this economic meltdown and implosion happened on his watch and is also due to the complicity of the domestic axis if evil: Wall Street, the Fed and the government.
The same tired rhetoric and psychological warfare is being used to make us fearful. The same avoidance of responsibility is being advocated. The same reward for criminality and fraud are being promoted. Just as no one in the Bu$h administration was fired, demoted or prosecuted for their abysmal failures on 9-11, for the lies about WMD, or their resulting war crimes, the creators of this economic scandal are being given a free pass too. The crooks and shysters who orchestrated this are about to be made whole at the expense of the US citizens. This is a redo of the Great Depression of the 1930's and the Savings and Loan swindles of the 1980's. Ironically the common players in both of those gigantic rip offs were members of the Bu$h crime family: Prescott Bu$h and George H.W. Bush, the current president’s grandfather and father. If that doesn’t make you go hmm, nothing will!
Yes things are bad but keep in mind they will get worse but that is the agenda of the banksters who caused the problems in the first place! As usual they will pin the tail on the suckers, the US taxpayers once more and again. “You will eat multiple trillions of dollars from each of the following: (1) The phony War on Terror; (2) the loss in real estate values caused by record inventories that will be created by defaults and foreclosures resulting from rampant unemployment, loan fraud, over-leveraged consumers and ARM and Option ARM resets; (3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages; (4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America; (5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares; (6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return; (7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above; and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above, and you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur. When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova. The entire world economy will get sucked into the resulting financial black hole.” Half a Trillion Bailout For The Creators of the Market Crisis- Bob Chapman http://www.informationclearinghouse.info/article20849.htm
At some point we have to treat Bu$h, the international bankers and the lying jackals in Congress like the villagers treated the boy who habitually cried wolf. At some point we have to stop falling for the okey-doke. Remember WMD!!! You know, “fool me once shame on you. Fool me twice shame on me.” At some point we have to have some self-respect and backbone and say “enough is enough”. If the wolf comes and eats the boy so be it. Otherwise the Kleptocracy will continue to do this ad infinitum. Keep in mind the auto industry just put their bid in for a bailout. When will it end?
The other question is if the US government is insolvent, and it is, (the US government borrows almost three billion dollars a day just to keep the lights on) where is all this money going to come from? How much can they tax us and for how long? If the Fed speeds up their printing presses, the US dollar will lose even more value and the cost of living will skyrocket via hyper-inflation (a drastic increase in the money supply). This will further erode our wealth and spending power. Future generations will still be paying for this mess. This is a lose-lose scenario for the people. Yet Bu$h and the shysters aren’t the least bit concerned about us. The only reason their paid lap dogs in Congress are putting up a sham fight is because they a third of the Senate stand for election in November. They know the people who are paying attention to this are pissed. They fear a voter backlash at the polls. Boy George is crying “wolf” again. Will we fall for the okey-doke yet one more time?