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Dagna
Sunday, December 14th, 2008, 08:14 AM
Buchanan: Socialist republic

Barack Obama and George W. Bush seem to have come away from their study of the Great Depression with similar conclusions:

To wit: After the Crash of 1929, the Federal Reserve did not move fast enough to save the banks and inject cash into the economy. Second, the New Deal, far from being wastrel deficit spending, was not bold enough. So it was that America wallowed in depression for a decade until the unbridled spending and mammoth deficits of World War II pulled us out.

Bush and Obama seem determined not to make the same mistake. We are all Keynesians now.

Thus, we have the $700 billion Bush bank bailout, the $700 billion "stimulus package" Obama wants by inauguration to "jolt this economy back into shape" and the $800 billion fund Hank Paulson created to get consumers borrowing and buying again.

These come on top of Bush $455 billion deficit, the $29 billion bailout of Bear Stearns, the $105 billion in pork to grease the $700 billion bailout, the $100 billion to $200 billion to keep Fannie and Freddie afloat, the $140-billion-and-counting for AIG, the $25 billion for the greening of GM, Ford and Chrysler, the $25 billion more to save the Big Three and the $20 billion for CitiGroup.

Now much of this overlaps, and some will be retrieved. But we are still staring at a deficit that could approach $2 trillion. How would this stack up historically?

A deficit of $1.4 trillion would be 10 percent of gross domestic product, dwarfing the postwar record 6 percent run by Ronald Reagan in the Jimmy Carter recession. Bewailing the "Reagan deficits" has been a staple of Democratic oratory. This will stop. But the politics of this is not the point, the policy is.

Consider what we are about to do. Bush in 2008 spent 21 percent of GDP. States, counties and cities spent another 12 percent. Thus, one third of GDP is spent by government at all levels. Obama and Co. propose to raise that by another 10 percent of GDP. We may soon be north of 40 percent of gross domestic product controlled and spent by government.

That is Eurosocialism. And where, exactly, are we going to get the money? Americans save nothing. We spend more than we earn. Thus the levels of consumer debt, credit card debt, auto debt and mortgage debt. U.S. foreign-exchange reserves amount to a piddling $73 billion.

The only nation with the kind of cash on hand we need now—if we don’t print the money and invite another gigantic bubble—is China, with its $2 trillion in foreign-exchange reserves. Will Beijing lend back the dollars it has piled up by selling to us?

China certainly has an incentive to keep Americans spending. For our purchases of Chinese-made goods have often been responsible for 100 percent of China’s growth. China does not want to kill the American goose that lays those golden eggs—until the goose can’t lay any more eggs. Then they won’t need the goose.

But should China decide to lend us the money, what will Beijing demand in interest rates and assurances that we will not default. After all, the U.S. debt is 70 percent of GDP, our savings rate is near zero, and our merchandise trade deficit is still running at 5 percent to 6 percent of GDP.

Unlike the 1950s, we are today dependent on foreigners for two-thirds of our oil and for much of our manufactured goods—toys, TVs, radios, cameras, cars, shoes, clothes, bikes, motorcycles—and for the $700 billion to $800 billion we borrow each year to pay for these imports.

With U.S. homeowners, consumers, companies and banks now going bust, why must the nation borrow trillions more to bail them out? So we can maintain our status and standard of living as the last superpower.

Bush and Obama are competing to shovel out trillions of dollars, so we can return to the good times of yesterday.

But wasn’t yesterday the root cause of today? Didn’t saving nothing and spending more than we earn, purchasing what we cannot afford in cars, consumer goods and houses, buying far more from abroad than we sell abroad—didn’t that cause this crisis and crash?

A family man in America’s condition, awash in debt, spending more than he makes, would cut back consumption, find a second job and get out of debt. Or declare bankruptcy, accept the shame and humiliation, change his wastrel ways and start anew.

Is it different for a nation? Yet we seem to believe we can borrow and spend our way out of a swamp of unpayable debt into which borrowing and spending have plunged us.

We are headed either for default on our debts and bankruptcy as a nation, or something less honorable: a quiet cheapening of the debts we have incurred by inflating and destroying the dollar, robbing our creditors of what we owe them and robbing our own people of the value of what they have earned. And so it has come to this.

What would the Founding Fathers think of us now?

http://www.msnbc.msn.com/id/27955136/

frippardthree
Thursday, October 15th, 2009, 06:39 AM
Thank you for the post! I am a little late, getting to it obviously, but I am a fan of Pat Buchanan's work. He was right on the nose, with that editorial.:thumbup

rainman
Thursday, October 22nd, 2009, 06:18 PM
Let me put it this way: the crash of bears sterns and others was caused on purpose by stock manipulators. Our whole society is based on make believe. Money can be invented out of thin air and so can stock. If you have a million outstanding shares of stock you can get 5 million owners voting at the share holder meeting. How did that happen?

Short selling. You can sell short unlimited stock. Long story short it creates new stock. Say you place an order to sell short a million shares of bears sterns and some company guarantees that. And say 10 other people sell short a million shares. The company only owns 1 million but they guaranteed everyone's short selling. Now there are several million new shares created. Well long story short you can play the game right and purposely destroy a company's worht through short selling. You can drive down the price to pennies then buy it all up.

Refer to a documentary such as "moeny as debt". Our money system is based on debt and leveraging of equity. If you destroy the equity of a company it can no longer procure loans (short term and long term) to run itself with. The whole inflationary cycle is always implosive: it always leads to collapses (of prices, of equity, of ability to pay back loans etc.) which then leads to debt forgiveness and a repeat of the cycle. Long story short you collapse the equity of a company and you can destroy its ability to operate. Then a government or other company can buy it up for pennies on the dollar. A lot of people have to be in on this though to make it work. One person can't just sell short you have to have lots of people calling in insane amounts of short sales at the same time ranging from millions to billions of dollars.

It goes back to what I told you before about how "they" work. You work hard your whole life to buy a house. Say its worth 100k. They get you to take some loans. Collapse the market at the right time, destroy the value of your house and foreclose on it or buy it back for say 20k. Then later they resell it to your kids for 100k in a perpetual cycle where wealth is always being siphoned from your pocket into theirs. They manipulate make believe things like fiat currency, stock etc. in order to siphon real things like your labor, your car, house, gold etc. into their pocket.

Don't blame people for taking out loans they can't afford to pay back etc. Of course you can't pay something back when you are laid off from your job. Its all a game done by smart people at the top manipulating everyone else.

Here's what was done recently:

Manipulate market. Destroy several prominent companies. This would require a "bailout" once they are bailed out the government can assume control of the companies, slash CEO salaries etc. I'm against the amount of money that CEOs make and such but they make it because people buy the products and let them. Anyone can build their own company and compete with them and pay their CEOs less. The lack of talent and means is why they are able to do what they do.

Anyway what it amounts to is a communist take over. Now the government has its hand deeper in private industry and now can set caps on the salaries of the highest paid.

I hope you guys put this up at the top or post it somewhere that people can read it. People really should know how the system is being run I'd hate to see this thread buried.

Oh and yeah its all manipulated by secret societies and such. That's why say the last administration (Bush) had the same policies (bailouts, government takeovers etc.) as the current one (Obama). the real power is behind the scenes. And again youtube the Kennedy secret society speech or the documentary "happiness machines" and so on and so forth.

frippardthree
Saturday, October 24th, 2009, 09:53 AM
rainman Wrote:
Oh and yeah its all manipulated by secret societies and such. That's why say the last administration (Bush) had the same policies (bailouts, government takeovers etc.) as the current one (Obama). the real power is behind the scenes. And again youtube the Kennedy secret society speech or the documentary "happiness machines" and so on and so forth.

The "Power Elite" has always been rumored to be controlling "World History". It's been suggested that the Kennedy family, the Bush family, the Clinton family, the Kerry family, the Heinz family, the Rockefeller family, & others have been setting the Wheels of America" in motion. I have heard these conspiracy theories many times. I believe most of them are either false or exaggerated, but I do believe that there is some truth in the myths.


Inside the secretive Bilderberg Group
2005-09-29, BBC News
http://news.bbc.co.uk/1/hi/world/americas/4290944.stm

How much influence do private networks of the rich and powerful have on government policies and international relations? One group, the Bilderberg, has often attracted speculation that it forms a shadowy global government. Every year since 1954 [they have brought] together about 120 leading business people and politicians. At this year's meeting in Germany, the audience included the heads of the World Bank and European Central Bank, Chairmen or Chief Executives from Nokia, BP, Unilever, DaimlerChrysler and Pepsi ... editors from five major newspapers, members of parliament, ministers, European commissioners ... and the queen of the Netherlands. The chairman ... is 73-year-old Viscount Etienne Davignon. In an extremely rare interview, he played down the importance of Bilderberg. "I don't think (we are) a global ruling class because I don't think a global ruling class exists." Will Hutton ... who attended a Bilderberg meeting in 1997, says people take part in these networks in order to influence the way the world works, to create what he calls "the international common sense". And that "common sense" is one which supports the interests of Bilderberg's main participants. For Bilderberg's critics the fact that there is almost no publicity about the annual meetings is proof that they are up to no good. Bilderberg meetings often feature future political leaders shortly before they become household names. Bill Clinton went in 1991 while still governor of Arkansas, Tony Blair was there two years later while still an opposition MP. All the recent presidents of the European Commission attended Bilderberg meetings before they were appointed. Informal and private networks like Bilderberg have helped to oil the wheels of global politics and globalisation for the past half a century.


Retrieved From:http://www.wanttoknow.info/secretsocietiesnewsarticles


Skull And Bones
2004-06-13, CBS News
http://www.cbsnews.com/stories/2003/10/02/60minutes/main576332.shtml

As opposite as George Bush and John Kerry may seem to be, they do share a common secret - one they've shared for decades. The secret: details of their membership in Skull and Bones, the elite Yale University society whose members include some of the most powerful men of the 20th century. Bonesmen, as they're called, are forbidden to reveal what goes on in their inner sanctum. Bones has included presidents, cabinet officers, spies, Supreme Court justices, [and] captains of industry. They'd responded to questions with utter silence until an enterprising Yale graduate, Alexandra Robbins, managed to penetrate the wall of silence in her book, Secrets of the Tomb. "I spoke with about 100 members of Skull and Bones. They were members who were tired of the secrecy,” says Robbins. “But probably twice that number hung up on me, harassed me, or threatened me.” Skull and Bones, with all its ritual and macabre relics, was founded in 1832. Since then, it has chosen or "tapped" only 15 senior students a year who become ... lifetime members of the ultimate old boys' club. A lot of Bonesmen have gone on to positions of great power. President Bush ... tapped five fellow Bonesmen to join his administration. Bonesmen have William Howard Taft, the 27th President; Henry Luce, the founder of Time Magazine; and W. Averell Harriman, the diplomat and confidant of U.S. presidents. Mr. Bush, like his father and grandfather before him, has refused to talk openly about Skull and Bones. But as a Bonesman, he was required to reveal his innermost secrets to his fellow Bones initiates. They're supposed to recount their entire sexual histories in ... a dimly-lit cozy room.


Retrieved From:http://www.wanttoknow.info/secretsocietiesnewsarticles


[I]Connections And Then Some
2003-03-14, Washington Post
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A25...

The Carlyle Group [is] an investment house famous as one of the most well-connected companies anywhere. Former president George H.W. Bush is a Carlyle adviser. Former British prime minister John Major heads its European arm. Former secretary of state James Baker is senior counselor, former White House budget chief Richard Darman is a partner, former SEC chairman Arthur Levitt is senior adviser -- the list goes on. Those associations have brought Carlyle enormous success. The Washington-based merchant bank controls nearly $14 billion in investments, making it the largest private equity manager in the world. It buys and sells whole companies the way some firms trade shares of stock. But the connections also have cost Carlyle. It has developed a reputation as the CIA of the business world -- omnipresent, powerful, a little sinister. Media outlets from the Village Voice to BusinessWeek have depicted Carlyle as manipulating the levers of government from shadowy back rooms. Congresswoman Cynthia McKinney (D-Ga.) even suggested that Carlyle's and Bush's ties to the Middle East made them somehow complicitous in the Sept. 11 terror attacks. It didn't help that as the World Trade Center burned on Sept. 11, 2001, the news interrupted a Carlyle business conference at the Ritz-Carlton Hotel here attended by a brother of Osama bin Laden. Former president Bush, a fellow investor, had been with him at the conference the previous day. Bush['s] primary function is to give speeches for Carlyle that attract wealthy foreigners in places where the former president is especially revered, such as Asia. The company has rewarded its faithful with a 36 percent average annual rate of return.



Retrieved From:http://www.wanttoknow.info/secretsocietiesnewsarticles

rainman
Saturday, October 24th, 2009, 05:55 PM
We are dealing with simple logic. If I place a giant bag of money on the ground and tell people that they probably wont be punished for taking it then I can bet someone will take it. Maybe not everyone, but its going to get taken.

Similarly with societies and conspiracies. First we have a lot of evidence for them anyway skull and bones, free masons etc. but secondly we must look at the logic of such actions. Firstly if you want to become wealthy your best chances are if you work together in an elite group. this helps insure you against unexpected losses. the members can look out for each other. Trancending wealth consider in a modern democratic society if you are a member of a senate or comittee. Even if you are a genius with great ideas they probably wont get passed. the dead weight of the masses prevents any momentum. You have 1000 congressmen looking out for their own interests. Especially in our current culture where genius or ability is not respected. Everybody thinks their opinion is of equal worth. Nothing would ever get done in such a situation. The only way to create change would be to start collaborating in an underground group with key members. this would naturally extend into media influence and so on. It's just the logical way of operating under the current conditions we have.

Wink wink.

Laurier
Monday, January 23rd, 2012, 05:56 PM
Larry Mc Donald and the New World Order :

http://www.dailymotion.com/video/x5tw12_larry-mcdonald-and-the-new-world-or_news

Explaining about communism as a goal of the so called "New World Order".

Sturmreiter
Thursday, August 9th, 2012, 01:01 PM
Hmm.. but when I think, that the US government spend round at 20% of its money of the federal household to its military forces, I think, that is an weighty reason for the massive debt (http://usdebtclock.org/).

In an open market keynesianistic deficit spending isn't expedient, because a lot of spent money will flue out of the country (you've just to look at the massive deficit at current account balance of the US).