From The Ramparts
Junious Ricardo Stanton
“As in the case of 9/11, when the Bushies launched an invasion of a foreign country in the name of a national "emergency," our economic 9/11 has now become the occasion for a massive invasion of government into the private sector. The nationalization of the banks, the auto industry, and even, it's rumored, the newspaper industry, augur ill for the cause of individual autonomy and for the social base of the Jeffersonian remnant: small business, the middle classes, broadly defined, and the shrinking proportion of the population not entirely dependent on Washington's largess.” - Justin Raimondo Antiwar.com www.antiwar.com/justin/?articleid
Those of you who have read my column for the past eight years know I believe the Bu$h administration was complicit in the attacks of 9-11. The fact the attacks happened and no military responses were initiated despite the fact NORAD and the military were engaged in several “live, real time” war training games that day, lets me know that was a convenient cover for what was coming down the pike. How is it after spending trillions on the US military budget (several trillions which were announced missing and unaccounted for on September 10, 2001) the normal military protocols were scuttled on 9-11? I suspect Dick Cheney was manning the controls during the military exercises and ordered the military to stand down once the air controllers realized real attacks were happening simultaneous to the military war games. There are just too many anomalies surrounding the events of that day to fall for the okey-doke of the official government story. To make matters worse, Bu$h refused to call for a thorough investigation to get at the bottom of what happened. The families of the victims killed that day, had to demonstrate and sue for the administration to set up the 9-11 Commission. Ultimately the Bu$hites used the 9-11 Commission as an attempt to white wash 9-11 just like the Warren Commission white washed the assassination of John F. Kennedy.
The fact of the matter is the US government was warned on so many levels so many times and the record shows they failed to take action. Read the article entitled They Tried to Warn Us: Foreign Intelligence Warnings Before 9/11 By Paul Thompson at www.historycommons.org/essay.jsp?article=essaytheytriedtowarnus to glean just how egregious and total the government failure really was. Just as the Bu$hites used 9-11 as a pretext to institute their agenda for global oil and natural gas hegemony, geo-strategic wars and domestic fascism in the guise of “national security”, they (the Federal Reserve Bank, Wall Street, the insurance companies, the bond rating companies, the Shadow Financial System and their flunkies in Congress) are using the economic tsunami they created to plunder the real economy and turn working class and middle income folks into over burdened tax peons, debt serfs and wage slaves. They have taken the taxpayer to the cleaners and it is now obvious we were robbed. Who is going to pay back the trillions Paulson gave his Wall Street buddies?
Just like 9-11 altered our political landscape and opened the door for illegal wars and invasions, this debt based economic collapse will transform the world as we know it. The crisis is global. Our standard of living here in the US will drop precipitously, unemployment will rise and commercial real estate will follow the housing market’s downward spiral. “WASHINGTON, Oct. 21, 2008 (GLOBE NEWSWIRE) -- Real estate industry investors and professionals expect financial and real estate markets in the United States to bottom in 2009 and flounder for much of 2010, with ongoing drops in property values, more foreclosures and delinquencies, and a limping economy that will continue to crimp property cash flows, according to the Emerging Trends in Real Estate(r) 2009 report, released today by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP... The report acknowledges that commercial markets will recover more quickly than most housing markets, and homebuilders may have to sell land tracts for ‘cents on the dollar’ or face foreclosure on their holdings, adding to the already high rate of mortgage defaults and foreclosures.” http://biz.yahoo.com/pz/081021/152579.html
We are headed for a protracted recession (depression?). As usual elitist insiders will use this as an opportunity to gobble up real assets at pennies on the dollar, consolidate their holdings and prosper while we suffer from the policies and conditions they’ve created. They did this during the Great Depression before Roosevelt stepped in and stopped them, which is why they hated him so. This crisis is not just a US phenomenon, the financial meltdown is a global situation. Iceland, Spain and Greece have lost their AAA ratings. Ireland is in trouble and Britain just nationalized several of its largest banks. This does not bode well for the US because the US is the world’s greatest debtor nation.
Just as 9-11 allowed the fascists to gain greater control over the government and whittle away the people’s constitutional rights under the rubric of “national security”, the economic 9-11 will allow the ruling elites to nationalize major parts of the economy for their own benefit. Socialism for the rich and corporate welfare will be the order of the day. Everyone but us will get a handout, bailout and get to eat from the public treasury! “The financiers are on a shopping-spree. America's Forbes 400 billionaires are waiting in limbo. Once they have consolidated their position in the banking industry, the financial giants including JP Morgan Chase, Bank of America, et al will use their windfall money gains and bailout money provided under TARP, to further extend their control over the real economy. The next step consists in transforming liquid assets, namely money paper wealth, into the acquisition of real economy assets. In this regard, Warren Buffett's Berkshire Hathaway Inc. is a major shareholder of General Motors. More recently, following the collapse in stock values in October and November, Buffett boosted his stake in oil producer ConocoPhillips, not to mention Eaton Corp, whose price on the NYSE tumbled by 62% in relation to its December 2007 high (Bloomberg). The target of these acquisitions are the numerous highly productive industrial and services sector companies, which are on the verge of bankruptcy and/or whose stock values have collapsed. The money managers are picking up the pieces.” The Great Depression of the 21st Century: Collapse of the Real Economy by Michel Chossudovsky www.globalresearch.ca/index.php?context=va&aid=10977
While we can’t directly affect their plans, once we know what is going down; we can prepare in ways we minimize our economic pain. The financial tsunami will radically alter the economic environment. The best thing to do is get out of debt as quickly and efficiently as you can. One of the things the elites will try to do to prop up the economy and make you think things are okay, is blow up another credit(debt) bubble. That’s why the Fed reduced interest rates to almost zero. Don’t go for it. It’s another trap. Their goal is to make us all debt peons, indentured tax servants and wage slaves (working at increasingly reduced wages). It will be the modern version of Medieval serfdom, post Civil-War sharecropping or the old day mining company store peonage. Don’t allow yourself to fall into that trap.