8. Our Armament Economy. Just as our industry in America was outsourced to nations that had cheap labor pools, our defense industry grew by leaps and bounds. With the many wars that America is involved in, from Central Africa, to the Horn of Africa all the way to Afghanistan and Pakistan, our defense budget boomed. Between The Department of Defense to the Intelligence Departments either belonging to the military or connected to the military, the actual budget according to different sources is about three trillion dollars. Also according to IPS: U.S. Sets Another Record on Defence Sales, Already .
"Despite the global economic strain, demand for U.S. defence products and services is stronger than ever," Andrew J. Shapiro, an assistant secretary in the U.S. State Department, said on Thursday.
He confirmed that the U.S., long the world's largest weapons exporter, has already seen more than 50 billion dollars in government-to-government military sales this fiscal year."
9. Shifting the Military focus from the Middle-East to the Pacific. Some regard this as an attempt to contain the World's second largest economy and a nuclear rival, The People's Republic of China. Negotiating with the Philippines for the right to use Subic Bay for use of the port for the Seventh Fleet the US is also negotiating with Vietnam for the deep-water port of Cam Ranh Bay. Singapore has offered its naval facilities for use by high-speed Littoral ships. Marines will be stationed in Australia. According to The Japan Times :
"The Yomiuri Shimbun reported that the new force layout would divide the Marine Corps command, ground force, air and logistic units into an arc of bases forming a flank along the eastern seaboard of China."
This of course, will not be a stepping stone for better relations
between China and the United States.
10. Paying Wall Street. In what amounted to a gigantic "giveaway" The United States and The Federal reserve decided to heap $4.76 TRILLION Dollars on the financial firms and investment banks "Too big to fail". This is according to Source Watch . This amount is staggering. Hardly any accounting for the funds was demanded by Congress. Some claim that investment banks and other entities are sitting on trillions while small business loans and mortgages remain next to impossible to attain. This gigantic bail-out was the spark that ignited the Occupy Movement that was started by Occupy Wall Street located in Zucotti Park. CEO's received huge million dollar bonuses directly after the bail-out. This incensed Americans when Wall Street defended the bonuses claiming that they were based on "performance". This so-called "performance" took place when casino-economics ruled the financial markets with the selling of derivatives.
"A derivative is a financial contract whose value is derived from the performance of underlying market factors, such as interest rates, currency exchange rates, and commodity, credit, and equity prices. Derivative transactions include an assortment of financial contracts, including structured debt obligations and deposits, swaps, futures, options, caps, floors, collars, forwards, and various combinations thereof."
Investors could buy these derivatives, betting on the failure of any number of things. Financial wizards bet on "credit default swaps". "A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a loan default or other credit event. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, receives a payoff if the loan defaults."