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OpEdNews Op Eds    H1'ed 8/28/10

Why is America suffering so much from a recession that Germany largely bypassed?

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More and more, we have monopoly capitalism in America and the Dems are now too afraid to take on these big monopolies and oligopolies. Republican Teddy Roosevelt wasn't afraid of them, and broke up some of the trusts and monopolies. FDR did the same. Even Republicans Eisenhower and Nixon took steps to take the monopolies and trusts down a notch or two. But you won't see Obama and the Dems do anything like that unless the electorate raises holy hell in the coming year or two. And ithat could happen if unemployment and underemployment keeps growing and ever more folks lose their homes to foreclosure, which they most probably will.


Foreclosures have exceeded 300,000 per month for 17 months in a row. Fully 10% of our population is presently subsists on food stamps and handouts. The unemployment lines have lengthened in virtually every city and town across the country. The shelters are full, the food banks are increasingly either empty or short on food, and the economy is flat on its back. Six trillion dollars in home equity has been wiped out, leaving baby boomers scrambling to make up for lost wealth so they can add something to their battered retirement savings.


What we see here is evidence of the greatest heist in the history of the world, and yet not one bankster has been indicted, prosecuted, arrested, convicted or sent to prison.


As economics analyst and Europe-based pundit Max Keiser recently said, America is a walking dead-zombie country:

The key to understanding the current situation is to understand that house prices, jobs, wages, and pensions in the US are all being attacked with original-issue-debt-dollar junk. (Translation: trillions of our tax dollars have been, and are being, surreptitiously distributed by the Fed to otherwise bankrupt megabanks that have used our bank deposits to gamble on derivatives as well as in our casino-like stock market.) Unless it is somehow stopped, this profoundly lucrative attack on, and theft from, America's middle class could well continue until it (the middle-class) has been reduced to a small vestige of what it once was.


America's megabanks and policy makers are continuing a program, at the behest of Wall Street, to essentially commit a kind of Financial Holocaust, the ultimate result of which will be to virtually eliminate the middle-class majority in America. Wall Street banks with their CDSs, High Frequency Trading and bogus market making are injecting the equivalent of financial Zyklon B into the American and world economy. Just as the goal in Nazi Germany was to eliminate virtually all of the Jews, the goal of Wall Street banks and the associated top half of one percent of income receivers and wealth holders in America is to eliminate the large majority of America's middle class, not by killing them, of course, but by other means.


Through Chinese-based factories and cheap exports from China, the financial elite wants to squeeze every last drop out of the brain-dead American consumer. When the American consumer has bought the last Chinese-made plastic toy and snow shovel from WalMart that s/he can buy using the borrowed money on her/his 100th uncollateralized credit-card, and s/he/they can't hyper-consume one penny more, then China will drop their special double-header "bomb' by announcing: 1) a new gold-backed reserve currency for the world and 2) the sale of a trillion dollars worth of US-government securities.


At least with Bush you knew where he stood. With Obama there is essentially "nobody home." He is essentially a ghost. He doesn't do anything. He is a Manchurian Candidate, a robot, he is nothing but a talking head. He has done nothing, he is doing nothing, he will never do anything. The BP oil spill revealed that America is running with no leadership at all. There is nobody at the helm of the ship.


America died two years ago. It's now a walking dead-zombie country, and anybody who still lives in that country should re-familiarize themselves with cotton-picking, because once the dollar crashes internationally, the only crop that America will be able to export is cotton. It will be King Cotton again. It will be 1840 again. The only job available will be as a cotton-picker working on a WalMart or Goldman Sachs plantation. This is the reality of the situation. There is no turning back at this point.

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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