Tuesday, October 5, 2010
Painting by Anthony Freda: www.AnthonyFreda.com.China
Congress and American economists are blaming China for America's economic woes.
But as I've previously pointed out, while China's weak Yuan policy is hurting the U.S. to some extent, America's economic problems are largely of its own making.
As I have previously documented, America's too big to fail banks and government have destroyed our economy by:
- Failing to prosecute those who committed rampant fraud, thus encouraging them to do it again
- Rewarding the gamblers who bet everything on insane speculative deals by bailing them out once they lost their bets
- Letting the largest U.S. banks go bankrupt repeatedly due to wild speculation, then blessing the speculation and helping cover up the bankruptcies
- Failing to restore trust in the financial system, but instead suspending the few accounting rules which still exist
- Blowing bubble after bubble
- Refusing to break up the too big to fails, even though virtually all independent economists say that they are a black hole dragging down our economy
- Using bailouts, gimmicks and quantitative easing to temporarily put wallpaper over the holes in our economy, instead of fixing the real problems
- Transferring risk from private banks to the people, instead of making the giant banks write down their bad debts
- Waging unnecessary wars all over the world, so that even our top military commanders are begging to slash defense costs, and otherwise buried our nation under mountains of debt
- Sacrificing any real chance to reduce unemployment in order to keep inflation low
- Shipping American jobs overseas, and giving corporations huge tax incentives to claim that their business is all done abroad
- Allowing the big financial players operate with insane amounts of leverage
- Burdening the American people with trillions in unnecessary interest
- Plundering the treasury to effect "a massive redistribution of wealth to the bank shareholders and their top executives"
- Allowing high-frequency trading to completely warp the markets
- Privatizing profits and socializing losses, trashing the real value of the dollar, and letting corruption run rampant
- Failing to take any meaningful steps to stabilize - let alone fix - the economy
Barbarians inside the American financial system have destroyed that system.
American leaders have blamed terrorists for our loss of rights.
But many of those rights were lost before 9/11. See this and this.
And former Secretary of Homeland Security Tom Ridge says that he was pressured to raise terror alerts to help Bush win reelection.
And former counterterrorism czar Richard Clarke said a year ago:
A lot of the cases after 9/11 were manufactured or enormously exaggerated and were announced with great trumpets by the attorney general and the FBI director so that we felt that they were doing something when, in fact, what they were doing was not helpful, not relevant, not needed.And FBI agents and CIA intelligence officials, constitutional law expert professor Jonathan Turley, Time Magazine, Keith Olbermann and the Washington Post have all said that U.S. government officials "were trying to create an atmosphere of fear in which the American people would give them more power".
And former U.S. National Security Adviser Zbigniew Brzezinski told the Senate that the war on terror is "a mythical historical narrative".
And governments from around the world have admitted that they carry out false flag terror in order to promote their political agendas.
(Yes, even the new terror threats in Europe are overblown. See this, this and this.)
Government has been using anti-terrorism laws to crush dissent and to serve the needs of big business.
Barbarians inside the American national security system have destroyed our liberties and freedoms based on false pretenses.
Ironically, the war on terror actually diminishes our national security. So the barbarians inside the gates are opening us up to the barbarians abroad as well.