by Patrick J. Buchanan
AmConMag.com

Though Bush 41 and Bush 43 often disagreed, one issue did unite them both with Bill Clinton: protectionism.

Globalists all, they rejected any federal measure to protect America’s industrial base, economic independence or the wages of U.S. workers.

Together they rammed through NAFTA, brought America under the World Trade Organization, abolished tariffs and granted Chinese-made goods unrestricted access to the immense U.S. market.

Charles McMillion of MBG Information Services has compiled, in 44 pages of charts and graphs, the results of two decades of this Bush-Clinton experiment in globalization. His compilation might be titled, “Indices of the Industrial Decline and Fall of the United States.”

From 2000 to 2009, industrial production declined here for the first time since the 1930s. Gross domestic product also fell, and we actually lost jobs.

In traded goods alone, we ran up $6.2 trillion in deficits — $3.8 trillion of that in manufactured goods.

Things that we once made in America — indeed, we made everything — we now buy from abroad with money that we borrow from abroad.

Over this Lost Decade, 5.8 million manufacturing jobs, one of every three we had in Y2K, disappeared. That unprecedented job loss was partly made up by adding 1.9 million government workers.
The last decade was the first in history where government employed more workers than manufacturing, a stunning development to those of us who remember an America where nearly one-third of the U.S. labor force was producing almost all of our goods and much of the world’s, as well.

Not to worry, we hear, the foreign products we buy are toys and low-tech goods. We keep the high-tech jobs here in the U.S.A.

Sorry. U.S. trade surpluses in advanced technology products ended in Bush’s first term. The last three years we have run annual trade deficits in ATP of nearly $70 billion with China alone.

About our dependency on Mideast oil we hear endless wailing.

Yet most of our imported oil comes from Canada, Mexico, Venezuela, Nigeria, and Angola. And for every dollar we send abroad for oil or gas, we send $4.20 abroad for manufactured goods. Why is a dependency on the Persian Gulf for a fraction of the oil we consume more of a danger than a huge growing dependency on China for the necessities of our national life?

How great is that dependency?

China accounts for 83 percent of the U.S. global trade deficit in manufactures and 84 percent of our global trade deficit in electronics and machinery.

Over the last decade, our total trade deficit with China in manufactured goods was $1.75 trillion, which explains why China, its cash reserves approaching $3 trillion, holds the mortgage on America.

This week came a report that Detroit, forge and furnace of the Arsenal of Democracy in World War II, is considering razing a fourth of the city and turning it into farm and pastureland. Did the $1.2 trillion trade deficit we ran in autos and parts last decade help kill Detroit?

And if our purpose with NAFTA was to assist our neighbor Mexico, consider. Textile and apparel imports from China are now five times the dollar value of those imports from Mexico and Canada combined.

As exports are added to a nation’s GDP, and a trade deficit subtracted, the U.S. trade deficits that have averaged $500 billion to $600 billion a year for 10 years represent the single greatest factor pulling the United States down and raising China up into a rival for world power.

Yet what is as astonishing as these indices of American decline is the indifference, the insouciance of our political class. Do they care?

How can one explain it?

Ignorance of history is surely one explanation. How many know that every modern nation that rose to world power did so by sheltering and nurturing its manufacturing and industrial base — from Britain under the Acts of Navigation to 1850, to protectionist America from the Civil War to the Roaring Twenties, to Bismarck’s Germany before World War I, to Stalin’s Russia, to postwar Japan, to China today?

No nation rose to world power on free trade. From Britain after 1860 to America after 1960, free trade has been the policy of powers that put consumption before production and today before tomorrow.

Nations rise on economic nationalism; they descend on free trade.

Ideology is another explanation. Even a (Milton) Friedmanite free-trader should be able to see the disaster all around us and ask: What benefit does America receive from these mountains of imported goods to justify the terrible damage done to our country and countrymen?

Can they not see the correlation between the trade deficits and relative decline?

Republicans seem certain to benefit from the nation’s economic crisis this November. But is there any evidence they have learned anything about economics from the disastrous Bush decade?

Do they have any ideas for a wholesale restructuring of U.S. trade and tax policy, for a course correction to prevent America’s continuing decline?

Has anyone seen any evidence of it?

Chris Hedges
SilverBearCafe.com

There are no constraints left to halt America’s slide into a totalitarian capitalism. Electoral politics are a sham. The media have been debased and defanged by corporate owners. The working class has been impoverished and is now being plunged into profound despair. The legal system has been corrupted to serve corporate interests. Popular institutions, from labor unions to political parties, have been destroyed or emasculated by corporate power. And any form of protest, no matter how tepid, is blocked by an internal security apparatus that is starting to rival that of the East German secret police. The mounting anger and hatred, coursing through the bloodstream of the body politic, make violence and counter-violence inevitable. Brace yourself. The American empire is over. And the descent is going to be horrifying.

Those singled out as internal enemies will include people of color, immigrants, gays, intellectuals, feminists, Jews, Muslims, union leaders and those defined as “liberals.” They will be condemned as anti-American and blamed for our decline. The economic collapse, which remains mysterious and enigmatic to most Americans, will be pinned by demagogues and hatemongers on these hapless scapegoats. And the random acts of violence, which are already leaping up around the fringes of American society, will justify harsh measures of internal control that will snuff out the final vestiges of our democracy. The corporate forces that destroyed the country will use the information systems they control to mask their culpability. The old game of blaming the weak and the marginal, a staple of despotic regimes, will empower the dark undercurrents of sadism and violence within American society and deflect attention from the corporate vampires that have drained the blood of the country.

“We are going to be poorer,” David Cay Johnston told me. Johnston was the tax reporter of The New York Times for 13 years and has written on how the corporate state rigged the system against us. He is the author of “Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense and Stick You With the Bill,” a book about hidden subsidies, rigged markets and corporate socialism. “Health care is going to eat up more and more of our income. We are going to have less and less for other things. We are going to have some huge disasters sooner or later caused by our failure to invest. Dams and bridges will break. Buildings will collapse. There are water mains that are 25 to 50 feet wide. There will be huge infrastructure disasters. Our intellectual resources are in decline. We are failing to educate young people and instill in them rigor. We are going to continue to pour money into the military. I think it is possible, I do not say it is probable, that we will have a revolution, a civil war that will see the end of the United States of America.”

“If we see the end of this country it will come from the right and our failure to provide people with the basic necessities of life,” said Johnston. “Revolutions occur when young men see the present as worse than the unknown future. We are not there. But it will not take a lot to get there. The politicians running for office who are denigrating the government, who are saying there are traitors in Congress, who say we do not need the IRS, this when no government in the history of the world has existed without a tax enforcement agency, are sowing the seeds for the destruction of the country. A lot of the people on the right hate the United States of America. They would say they hate the people they are arrayed against. But the whole idea of the United States is that we criticize the government. We remake it to serve our interests. They do not want that kind of society. They reject, as Aristotle said, the idea that democracy is to rule and to be ruled in turns. They see a world where they are right and that is it. If we do not want to do it their way we should be vanquished. This is not the idea on which the United States was founded.”

It is hard to see how this can be prevented. The engines of social reform are dead. Liberal apologists, who long ago should have abandoned the Democratic Party, continue to make pathetic appeals to a tone-deaf corporate state and Barack Obama while the working and middle class are ruthlessly stripped of rights, income and jobs. Liberals self-righteously condemn imperial wars and the looting of the U.S. Treasury by Wall Street but not the Democrats who are responsible. And the longer the liberal class dithers and speaks in the bloodless language of policies and programs, the more hated and irrelevant it becomes. No one has discredited American liberalism more than liberals themselves. And I do not hold out any hope for their reform. We have entered an age in which, as William Butler Yeats wrote, “the best lack all conviction and the worst are full of passionate intensity.”

“If we end up with violence in the streets on a large scale, not random riots, but insurrection and things break down, there will be a coup d’état from the right,” Johnston said. “We have already had an economic coup d’état. It will not take much to go further.”

How do we resist? How, if this descent is inevitable, as I believe it is, do we fight back? Why should we resist at all? Why not give in to cynicism and despair? Why not carve out as comfortable a niche as possible within the embrace of the corporate state and spend our lives attempting to satiate our private needs? The power elite, including most of those who graduate from our top universities and our liberal and intellectual classes, have sold out for personal comfort. Why not us?

The French moral philosopher Albert Camus argued that we are separated from each other. Our lives are meaningless. We cannot influence fate. We will all die and our individual being will be obliterated. And yet Camus wrote that “one of the only coherent philosophical positions is revolt. It is a constant confrontation between man and his obscurity. It is not aspiration, for it is devoid of hope. That revolt is the certainty of a crushing fate, without the resignation that ought to accompany it.”

“A living man can be enslaved and reduced to the historic condition of an object,” Camus warned. “But if he dies in refusing to be enslaved, he reaffirms the existence of another kind of human nature which refuses to be classified as an object.”

The rebel, for Camus, stands with the oppressed – the unemployed workers being thrust into impoverishment and misery by the corporate state, the Palestinians in Gaza, the civilians in Iraq and Afghanistan, the disappeared who are held in our global black sites, the poor in our inner cities and depressed rural communities, immigrants and those locked away in our prison system. And to stand with them does not mean to collaborate with parties, such as the Democrats, who can mouth the words of justice while carrying out acts of oppression. It means open and direct defiance.

The power structure and its liberal apologists dismiss the rebel as impractical and see the rebel’s outsider stance as counterproductive. They condemn the rebel for expressing anger at injustice. The elites and their apologists call for calm and patience. They use the hypocritical language of spirituality, compromise, generosity and compassion to argue that the only alternative is to accept and work with the systems of power. The rebel, however, is beholden to a moral commitment that makes it impossible to stand with the power elite. The rebel refuses to be bought off with foundation grants, invitations to the White House, television appearances, book contracts, academic appointments or empty rhetoric. The rebel is not concerned with self-promotion or public opinion. The rebel knows that, as Augustine wrote, hope has two beautiful daughters, anger and courage – anger at the way things are and the courage to see that they do not remain the way they are. The rebel is aware that virtue is not rewarded. The act of rebellion defines itself.

“You do not become a ‘dissident’ just because you decide one day to take up this most unusual career,” Vaclav Havel said when he battled the communist regime in Czechoslovakia. “You are thrown into it by your personal sense of responsibility, combined with a complex set of external circumstances. You are cast out of the existing structures and placed in a position of conflict with them. It begins as an attempt to do your work well, and ends with being branded an enemy of society. … The dissident does not operate in the realm of genuine power at all. He is not seeking power. He has no desire for office and does not gather votes. He does not attempt to charm the public. He offers nothing and promises nothing. He can offer, if anything, only his own skin – and he offers it solely because he has no other way of affirming the truth he stands for. His actions simply articulate his dignity as a citizen, regardless of the cost.”

Those in power have disarmed the liberal class. They do not argue that the current system is just or good, because they cannot, but they have convinced liberals that there is no alternative. But we are not slaves. We have a choice. We can refuse to be either a victim or an executioner. We have the moral capacity to say no, to refuse to cooperate. Any boycott or demonstration, any occupation or sit-in, any strike, any act of obstruction or sabotage, any refusal to pay taxes, any fast, any popular movement and any act of civil disobedience ignites the soul of the rebel and exposes the dead hand of authority. “There is beauty and there are the humiliated,” Camus wrote. “Whatever difficulties the enterprise may present, I should like never to be unfaithful either to the second or the first.”

“There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can’t take part; you can’t even passively take part, and you’ve got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, and you’ve got to make it stop,” Mario Savio said in 1964. “And you’ve got to indicate to the people who run it, to the people who own it, that unless you’re free, the machine will be prevented from working at all.”

The capacity to exercise moral autonomy, the capacity to refuse to cooperate, offers us the only route left to personal freedom and a life with meaning. Rebellion is its own justification. Those of us who come out of the religious left have no quarrel with Camus. Camus is right about the absurdity of existence, right about finding worth in the act of rebellion rather than some bizarre dream of an afterlife or Sunday School fantasy that God rewards the just and the good. “Oh my soul,” the ancient Greek poet Pindar wrote, “do not aspire to immortal life, but exhaust the limits of the possible.” We differ with Camus only in that we have faith that rebellion is not ultimately meaningless. Rebellion allows us to be free and independent human beings, but rebellion also chips away, however imperceptibly, at the edifice of the oppressor and sustains the dim flames of hope and love. And in moments of profound human despair these flames are never insignificant. They keep alive the capacity to be human. We must become, as Camus said, so absolutely free that “existence is an act of rebellion.” Those who do not rebel in our age of totalitarian capitalism and who convince themselves that there is no alternative to collaboration are complicit in their own enslavement. They commit spiritual and moral suicide.

UniCredit has alerted investors in a client note that Britain is at serious risk of a bond market and sterling debacle and faces even more intractable budget woes than Greece.

By Ambrose Evans-Pritchard
TelegraphUK

The Italian-German group, Europe’s second largest bank, said Britain’s tax structure will make it hard to raise fresh revenue quickly enough to restore confidence in UK public finances.

“I am becoming convinced that Great Britain is the next country that is going to be pummelled by investors,” said Kornelius Purps, Unicredit ’s fixed income director and a leading analyst in Germany.

Mr Purps said the UK had been cushioned at first by low debt levels but the pace of deterioration has been so extreme that the country can no longer count on market tolerance.

“Britain’s AAA-rating is highly at risk. The budget deficit is huge at 13pc of GDP and investors are not happy. The outgoing government is inactive due to the election. There will have to be absolute cuts in public salaries or pay, but nobody is talking about that,” he told The Daily Telegraph.

“Sterling is going to fall further over coming months. I am not expecting a crash of the gilts market but we may see a further rise in spreads of 30 to 50 basis points.”

Yields on 10-year gilts have already crept up to 4.14pc, compared to 3.94pc for Italian bonds, 3.48pc for French bonds, and 3.19pc for German Bunds, though part of this reflects worries about higher inflation in Britain.

Ian Stannard, currency strategist at BNP Paribas, said markets are fretting over how the UK will cover its deficit following the pause in quantitative easing by the Bank of England. The Bank has absorbed £200bn of debt, more than total Treasury issuance over the last year.

“The UK may have difficulty in attracting extra investors to fill the gap. We think they will have to do more QE as recovery falters,” he said.

BNP Paribas expects sterling to drop to $1.31 against the dollar this year and reach parity against the euro despite troubles in Club Med. “We’re very bearish on the UK,” he said.

Big global banks are divided over Britain’s economic prospects . Goldman Sachs is betting on a turbo-charged recovery as the delayed effects of sterling devaluation kick in. Britain’s trump card is an average debt maturity of 14.1 years, nearly three times US maturities and double those of France. This greatly reduces the risk of a “roll-over” crisis.

UniCredit said Greece is better placed than the UK in coming months even if deficits look comparable. “The polls point to a minority government in the UK, while Greece’s government can count on a majority to push austerity measures through parliament. Secondly, the British tax system offers less leverage for a rise in revenue,” he said.

Paradoxically, Greek tax evasion creates scope for a surge in revenues from tougher enforcement. “It is not out of the question that we will see a positive surprise in Greece: is there any such hope for Britain?” said Mr Purps.

Still, while it is arguable whether a hung Parliament in Britain will lead to policy drift, analysts said Greece was in trouble already. The country was brought to a standstill on Thursday by the second general strike in weeks. Police clashed with rioters , again reducing Athens to a fog of tear gas. Observers said that did not augur well for a nation that has hardly begun its three-year ordeal of draconian cuts.

by Robert Singer
MWCNews.com

The year is 2010 and to anyone not in denial, the industrialized nations have entered the greatest calamity the world has ever known:

•35 Million Americans on Food Stamps: 12 Percent of U.S. Population on Food Stamps Highest Since Records Kept in 1969, and that’s before the Obama administration announced a planned three-year budget freeze on government discretionary spending. (My Budget 360)
•18 Million empty houses in the United States and 39 million Americans who are no longer working or looking for work, and that’s before Federal Reserve finishes rewriting the rules of American “capitalism” as US Housing, the Automobile Industry and the American Dream are dismantled. (The 31-Year-Old in Charge of Dismantling G.M., David E. Sanger)

“There are now well over 150 million Americans who feel stress over these things on a consistent basis. Over 60 percent of Americans now live paycheck to paycheck.” (The Economic Elite vs. People of the USA, David DeGraw)

In an effort to explain our escalating financial crisis, the American Nightmare (an Environmental Dream), the “experts” are under the erroneous impression that the Fed “missed” the warning signs leading up to the October 2008 meltdown.

The pundits are focusing their angst on the 44th POTUS, who might very well go down as the single most inept president in all of American history. (How to Squander the Presidency in One Year, David Michael Green)

Barack Obama is not inept, greedy or stupid and he isn’t one of “us”.

He rose from obscurity to power with his top economics adviser, Zbigniew Brzezinski, the co-founder of David Rockefeller’s Trilateral Commission and he travels in the same circles as other members of the super-secret Skull & Bones Society at Yale University, who pretend to be running for president every four years.

The Rest…HERE

from Libcom
MostlyWater.org

Battle Ground Athens: Second general strike leads to pitched battles

March 11 2010

More than 150,000 people took to the streets of Athens against the austerity measures in a mass protest march that has led to extended battles in the Greek capital.

On Thursday March 11 all of Greece came to a 24 hour standstill as a result of the second general strike to be called within less than a month (not the third as reported by foreign media, as the first strike in February only concerned the public sector). As a result of the strike called by GSEE (private sector union umbrella) and ADEDY (public sector union umbrella) as well as PAME (the Communist Party union umbrella) no buses, trams, metros, trolley buses or suburban trains exited their stations, while due to an air-traffic control workers’ strike, [there are] no flights…within or in and out of the country. Only the electric train will function for 4h in Athens in order to facilitate people’s participation in the mass demo at noon. In the health sector, all hospitals are functioning with emergency personnel only, as all doctors, ambulance drivers and nurses are striking. All banks are closed to the public, and all public and municipal offices and services have been shut by the strike. The Corinth Canal has also been shut by the workers controlling it, allowing no ships to make the vital crossing. All boats have been immobilized in the harbours and no inter-city trains are running. Post offices remain closed, while National Electricity, National Waters and National Telecoms workers are taking part in the strike with all offices and factories of the above industries closed for the day. All schools and universities remain closed as teachers and academics are participating in the strike. Office workers, factory workers and construction workers are also participating en mass in the strike. Firemen and policemen are also performing walk-outs, with a police demo at the National Police HQ planned for the afternoon. Due to the participation of the TV, radio, electronic news websites, and the press in the strike, there are no news broadcasts for 24 hours. Thus the information gathered here will be completed by means of Comments after the end of the General Strike when more information becomes available [see link to original article below]. In total more than 3 million people (out of a total population of 11 million) are expected to have taken part in the general strike today.

Background:

The General Strike comes as a new climax to labour struggle against the new austerity measures the Greek government has announced in response to its notorious credit crisis. In the days before the General Strike, stage workers have occupied the Ministry of Labour on Peiraeos street, while the continuing occupation of the General State Accountancy by laid-off Olympic Airways workers has caused the intervention of the state persecutor who has demanded their arrest. No such move of repression has been made yet by the police, and Panepistimiou Street remains cut in two by the protesters for more than a week now. In Salonica, the General Industrialists Bureau was occupied yesterday by workers, while radicals from the left dropped a huge banner in the Acropolis reading “take the measures back”. Throughout the week, tax officers performed a 48h strike, school traffic wardens in Northern Greece performed a 3-day strike, while judges and other judicial officers performed 4-h daily work stoppages. No garbage has been collected since last Saturday in Athens, Patras and Salonica as refuse collectors have blockaded the great garbage depot of the three major cities. Finally, in the city of Komitini, ENKLO textile workers are mounting an ever more intense labour struggle, with protest marches and strikes: two banks were occupied by the workers last Monday.

The Demos:

The first demo in Athens was…by PAME, the Communist Party union umbrella, just before noon. PAME allied workers first formed small demos across Athens, then marched to Omonoia square and all together in a 50,000 strong march to the Parliament. At the same time, people started gathering at Patision and Alexandras junction for the demo called by GSEE and ADEDY. The demo which soon gathered over 100,000 people set to march to the Parliament at 12:30 when just outside the Polytechnic, riot police forces tried to cut-off a large anarchist block from the march by brutal force. Clashes ensued with extended use of tear gas and molotov cocktails. Despite the air being thick with smoke and CS gas, the march continued its way along Patision avenue and on to Stadiou street where many corporate shops came under attack. After reaching the Parliament, the march turned to Panepistimiou street where renewed clashes erupted at the height of Propylea. With the march coming to its final distination, protesters who continued their way to Omonoia [were] attacked by Delta team motorized forces. The Delta-team thugs tried to hit the protesters [at] full speed sparking more pitched battles with police squads encircled and beaten by the angry crowd and several Delta-team motorbikes destroyed. At the time of writing, the battles have moved to Exarcheia where protesters have erected flaming baricades and are confronting riot police and Delta force cops by means of rocks and molotov cocktails. Many protesters have sought refuge at the Polytechnic from which they are confronting police forces on both Patision and Stournari streets. During the clashes many protesters have been wounded with one reported to be in intensive care with heavy wounds on the chest. The number of people arrested remains unclear but there are about 16 people detained and 13 cops hospitalised.

In Salonica 6 different marches took place by different unions and umbrella unions. Protesters of the Worker’s Centre march, which numbered 7,000 people in total, attacked corporate and church-owned shops on Egnatia Avenue, while two super-markets were looted with the commodities distributed to the people. Despite the police firing tear-gas, the march continued and attacked the Ministry of Macedonia and Thrace with paint and rocks before reaching the Worker’s Centre.

In Ioannina, despite the pouring rain around 1.500 people marched against the measures with no news of clashes. Similar protest marches took place in Sitia, Naxos, Veroia, Patras and other cities. In Heracleion, Crete, shops that did not allow their workers to strike were blockaded and several banks came under attack by protesters. In Volos, protesters blockaded the gates of the METKA factory not allowing security-staff (i.e. scabs) to enter the premises, with many more corporate chain shops that did not allow their workers to strike blockaded and shut by the protesters. The official union-bosses of Volos were forced to leave the march after mass heckling by the workers.

Despite [an] anti-strike war waged by the bourgeois media, amongst which the more bloodthirty ones like Kathimerini is urging the government to crush the protests “even if some protesters die”, the Athens march is estimated to be the largest in 15 years, and has demonstrated the resolve of the working class to fight back against the capitalist onslaught.

The Mogambo Guru
GoldSeek.com
Friday, 12 March 2010

I was laid out on the couch, which I remember distinctly because my wife was yelling, “If you’re going lay down on the couch instead of doing something around the house to help me out, at least take your damned shoes off!” and I was using the remote to idly flip through the channels on TV, hoping to catch something in the vein of happy mindlessness, maybe something in the Gilligan’s Island-Bewitched genre, so that I did not have to keep track of a complicated plot and/or a bewildering cast of multi-faceted characters.

I needed this kind of mental break to take my mind off of, for one thing, the sheer horror of today’s economic situation and how we are So Freaking Doomed (SFD).

Finally, I happened to catch a moment on CNBC just where Larry Kudlow was correctly making fun of Greece for saying that it will raise taxes and cut spending in an effort to get its ludicrous deficits and preposterous budget under control, and he had a deliciously snotty, supercilious, sarcastic attitude (the True Mogambo Way!) towards the idea of raising taxes and reducing spending as an economic stimulus of some kind! Hahaha!

I was with him all the way, too! And I had a few choice things that I wanted to say to Greece, too! Most of my complaints about Greece are about how Greek salads always seem to come with a damned oil and vinegar dressing that is terrible until you add some sugar, then it’s pretty good, so why in the hell don’t they add sugar to start with, the lazy bastards? God knows they had the money!

And then to add sour ripe olives to the mix – which is more of the same, only worse! – makes me want to jump to my feet and shout, “What is the matter with Greeks that they would they would do such a terrible thing to an otherwise delicious salad?”

So with Mr. Kudlow on the case to make sure that Greece gets its act together, I am sure that their deficit problem will soon be resolved, and this salad dressing thing will soon be a thing of the past, too, which may be part of the reason why I thought he was really good for about, oh, three seconds, which is about as long as the average period of time that I usually agree with Mr. Kudlow, or my wife, or my kids, or my boss, about anything.

The aforementioned three seconds during which I agreed with Mr. Kudlow is because he said something scornful in a rapier-like rebuttal, something like “Raising taxes and cutting spending is not the answer!” which is true.

But it is only true because there IS no answer! To even ridiculously assume that someone can come up with a plan to dissolve consumers’ debt and simultaneously pay off their creditors – the fabled “win-win” situation! – is ludicrous! Hahaha! Beyond ludicrous! Hahaha!

Mr. Kudlow and his little panel of “experts”, however, ignore my scornful laughter and the way that Icky Mogambo Spittle (IMS) shot from my lips, and implied that there really is a solution to this problem out there, somewhere, anywhere, maybe over here, maybe over here, which would marvelously, and magically, enable debtors to get rid of their debts without paying anybody anything, and creditors to get all their money back without being paid anything by anybody! Hahahaha!

But I understand that it’s Mr. Kudlow’s job to take positions on monetary, fiscal and economic policy that are the opposite of mine, because my job is to stay away from the majority, and his job is to get people to join the majority.

My position is so antagonistic because in these three cases, “the majority is always wrong.”

The majority is wrong in encouraging monetary insanity by always yammering for more and more monstrous Federal Reserve money-creation to buy the fiscal insanity of Congress’s avalanche of new government debt to fund Obama’s spendthrift imbecilities, which will cause inflation in prices, which is The One Big Freaking Thing (TOBFT) that you don’t ever, ever, ever want to have, which means that you can never, never, never allow excessive amounts of money to be created in the first place.

The majority is wrong on economics because they still, laughably, believe in the proverbial “free lunch”, a childish fiction where somebody gets something and nobody has to pay for it, and the majority are willing to bankrupt themselves, and destroy their own country, by letting Congress try to provide a free lunch to anyone and everyone who walks up with a hand out or a sad story.

And the biggest reason to go against the majority is in investing, because it’s less than a zero-sum game, and thus the majority must lose money and be bled dry by a ghoulish financial services industry (that is so large that it makes up 70% of all profits made in the country, and thus pays most of the taxes, which are actually paid by the “investors”) so that a minority of people (hopefully, me!) can make money despite being bled dry by the financial services industry and despite paying taxes on the gains. “Investing for the long term!” Hahahaha! I snort with derision! Snort!

So you can see why my natural anti-establishment makes me pound the table for gold and silver simply because the majority ignores them!

Okay, the real reason is that today’s dire economic condition, due to a staggeringly incompetent government and incompetent citizenry, has been played out thousands of times in the last 4,500 years, and in each case, the only thing that saved anyone’s butt was gold and silver.

There are those, of course, who say, “That explains why you are buying gold and silver, but it does not explain why you are always screaming at people to invest in oil, as well as in gold and silver.”

Well, since you asked, I say invest in oil because it has the most energy per cubic centimeter, and now that it is used in practically everything everywhere, nobody in the industrialized world can live without lots and lots of it, with guaranteed continual rising demand, but it is being rapidly depleted. Rising demand and falling supply? Who could ask for more in an investment?

As for those who go on to say, “Well, that is pretty convincing, alright, but it doesn’t explain why you are such a hateful, disrespectful, little creep”, I admit that, no, it doesn’t.