Let’s understand one thing from the get-go: for the far Right, the United States is not a country, it is a commodity. It is a goose that has been laying golden eggs since the inception of World War II.
But alas, the lead content of the eggs is on the increase, and when the eggs are finally 100% lead, the Right will have no compunctions about slaughtering the goose for dinner. This is because the Right’s sole allegiance is not to the United States, but to Capital, and Capital recognizes no international border.
The United States may go broke, but the Right never will because the Capital they have amassed floats from country to country, it’s only loyalty to the locus that promises the greatest return on investment.
In all fairness, when I say “Right,” I am not including the religious wingnuts or the honest, working Americans who sincerely believe the Right is keeping them safe while it guts their lives. I am speaking of the Corporatists, a small gaggle of “wise men” who move, with ease between the private and the public sectors. Some are Democrats, some are Republicans and some even consider themselves Liberals.
The Right has had a good run in America. It has successfully plundered the treasury until the county has amassed a $7.6 trillion debt. Now, on top of that, they have added the $5 trillion in toxic paper guaranteed by Fannie Mae and Freddy Mac.
The sound you hear is the Right packing its bags and getting ready to split. With that big of a debt load, it is only a matter of time before the country’s credit rating is cut to junk-bond levels and the dollar tanks.
Then, the entire house of cards, including our empire, comes crashing down around our ears, but not around “their” ears. Their Capital will be perfectly safe as it dances across high-speed internet connections picking up a half-a-point here and a another fraction of a point there.
One of the difficulties we have in understanding the problem is wrapping our heads around a “trillion.” One expert has pointed out that $1 trillion is equal to a stack of tightly packed $1,000 bills 6.2 miles high.
This means the national debt of $7.6 trillion is the same as a 43.4 mile stack of tightly packet $1000 bills. Add to that the $5 trillion of Fannie and Freddie obligations, and our stack of $1000 bills is now 78.12 miles high.
This seventy-eight mile high stack has all gone into the pockets of our corporate elite and much of it is out roiling the waters of international financial markets as it continues its exponential growth.
Meanwhile, our presidential candidates compete to see who can beat their war drum the loudest, blithely unaware that the beat echoes mournfully off the empty walls of our treasury.