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Don’t cry for US, Argentina…

September 25, 2008 Leave a comment Go to comments

Figures don’t lie, but liars figure – Mark Twain

The Moron returned to television last night bringing anguished tales of impending doom – news to all, apparently, but any person who has done the slightest bit of investigation into this crisis on the numerous web pages devoted to the subject.

The failure of Congress to hand him a blank check to bailout Wall Street, said the Marionette-in-Chief:

…would cause massive job losses, devastate retirement accounts and further erode housing values, as well as dry up loans for new homes and cars and college tuitions. These are risks that America cannot afford to take.

Of course, a simple back of the envelope calculation would have laid all this bare without the whining squeal of the Decider. The US needs several billion dollars each and every day to fund its pretensions to empire.

Above all, this requires the continuing inflows of currency from all the major holders of American dollars – China, in first place, but also Japan, Russia, and the oil dependencies in the Middle East.

These inflows rest on the assumption among the global holders of the American debt that their assets are safe, relatively liquid, and retain their value in the face of decaying global economic conditions.

The Empire is on life support, and you are being sacrificed. You are being asked to pony up untold billions of to guarantee the assets of the People’s Republic of China, who, through their mouthpiece, economist Yu Yongding, explicitly demanded action:

“If the US government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,” Yu said in e-mailed answers to Bloomberg. “If it is not the end of the world, it is the end of the current international financial system.”

As we noted at the time, not one of the leading members of the Party of Washington and the Party of Wall Street uttered a single response to this threat:

Not a word this week from a single member of the elite bosses of the Party of Washington. Not a peep from the economic vandals of the Party of Wall Street.

Not a single response from The Presidency, the office of the Speaker of the House, nor from the office of the Senate Majority Leader.

Not a word of this and its implication for you and those you love from the lips of the nominee of the Party of Washington, who waxed eloquent regarding how life will profoundly change under his enlightened term in office.

He went on for forty-two minutes, we are told, yet found not ten seconds of it where he could have told the nation, “Uh, sorry. The Chinese just sent us an ultimatum: Either we fix our economy, or we are cut off from the spigot.”

We also told you the implications of this threat:

There are only two choices here:

  1. Dismantle America’s Empire – withdraw from Iraq, Afghanistan, all overseas bases, pull back the fleets, recall the submarines, and stand down, or,
  2. Starve.

Last night, the Moron told you which of these choices Washington made.

Don’t cry for us, Argentina.

When it was your turn, back in 1999, we sure didn’t.

  1. September 25, 2008 at 10:19 am

    This is such an interesting time to be observing what is happening in finance and politics – how intricately they are connected. First the administration (supported by Fox News) says that there the economy is better than ever, then overnight, they’re scaring the American public about losses over millions of jobs. What frustrates me is that this $700 billion bail-out is on our shoulders to carry – not the government’s. It is our responsibility. Yet we were never part of that decision making process. How is that fair? Who does this benefit? I read a great give-it-to-you-straight magazine called Monetary Intelligence Magazine, http://monetaryintel.com, which you may enjoy. They talk about this type of thing. Thanks for the great post.

  2. charley2u
    September 26, 2008 at 1:32 pm

    Thanks, Guys…this thing has to be killed!!!

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