Excellent article. Thanks for sharing.
Some good excerpts:
"In the case of China, obviously they want to squeeze every last drop out
of the brain-dead American consumer. When the American consumer has
bought the last plastic toy and snow shovel made in China from Wal Mart
that he can buy from the borrowed money on the 100th uncollateralized
credit-card and they can't hyper-consume one penny more, like the fat
guy who eats the wafer at the end of the meal in the famous Monty Python
sketch â€" who then explodes in a storm of half eaten foie gras and guts -
then China will drop the bomb by announcing a gold-backed currency and
the sale of a trillion in U.S.-government securities."
...
"America died two years ago. It's a walking dead-zombie country, and
anybody who still lives in that country should get re-familiarize
themselves with cotton-picking, because once the dollar crashes, 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 Wal Mart or Goldman Sachs plantation.
This is the reality of the situation. There is no turning back at this
point. The die has been cast. The American experience lasted from 1776
to 2008. Those were the years it was kicking ass and taking names. But
the second Obama took office, who took Larry Summers and Timothy
Geithner with him â€" it died. That was the end. Every day since then
has been Post-America."
The last few sentences are a little disingenuous. The recession officially started in December 2007 and the financial collapse happened under Bu$h and Paulson's watch in late September of 2008. We were shredding around 700,000 jobs a month back then. The $800 billion dollar bank bailout was a classic "stick up" with Paulson writing a three-page letter demanding the money with no strings attached...a classic gun-to-the-head "Give us your money or else..." moment.
The Fed refuses to tell us where the money went. Media outlets won an appeal court ruling a few months ago when they demanded to see a list a entities that received the money. I haven't heard of any updates about the case since then, but it's widely speculated that China, Germany, Dubai, and Saudi Arabia received big chunks of the (our) bailout money. Obama's appointments of Geitner and Summers was simply a means to extend and expand the protection of the Federal Reserve and their biggest clients, Goldman Sachs, JP Morgan, etc...and to keep the boot on the throat on middle class Americans, making sure they have no recourse against the government and the corporations that own it and them.