With all this bad private debt being hauled in by the US government hardly any notice has been given to the idea that the US Federal Government itself is putting itself at risk of default, too? In a way a governmental default (declaration of bankruptcy) would be a sort of poetic justice for the people of a country whose government has played an integral part in putting other governments around the globe into default with creditors in the past.
After all for just one given example, how much did America cry for Argentina when its government broke down? The US government had much to do with that governmental default, too, despite the fact that it occurred in a place we hardly even consider as being on the map.
Bill for US rescue package could reach $1 trillion All this bad debt taken in by the Feds can be covered easily by issuing paper dollars that Americans will be forced to use as currency, but what about others outside our national borders? They will simply devalue the US dollar in relation to their own currencies which will not be necessarily be covering bad debt of their own. When goods are imported into the US, we may well begin to see the start up of first $5 Stores, and then $10 Stores for those on tight budgets. The sky can be the limit here, can it not?
At some point foreigners may simply say ENOUGH. None of your dollars are worth even the paper they are written on and we will not accept them at all. Your country is BANKRUPT. So transferring private bad debt (‘toxic’ is the word they actually use) into the hands of the Federal government is no panacea at all. By itself, it cannot turn the situation around at all, as it merely buys time and transfers ‘responsibilities’ onto others, mainly onto the American people instead of America’s super-rich.
Do you have any ‘toxic debts’? Maybe you moved out of an apartment and the place put hundreds of dollars of extra charges on your credit record claiming you did damages, even though these claims are false? Maybe you ran up 2 cents over on a debit card transaction, and the bank ran up their ‘overdraft protection’ charges on you? Maybe you were sold a junker and it fell apart a couple of miles off the lot? Are they still trying to collect payments from you?
Democratic party-tied websites are spouting much the same analysis of the current economic crisis, which is simply that in their point of view, capitalism is great, it just needs ‘regulation.’ Give us a break, People! 
A spokesperson there said the (New York) Times last Sunday inserted 145,000 DVDs (of “Obsession: Radical Islam’s War Against the West,”) in its papers delivered in the following markets: Denver, Miami/Palm Beach, Tampa, Orlando, Detroit, Kansas City, St Louis, Cincinnati, Philadelphia, Pittsburgh, Milwaukee/Madison. Note: These are all in swing states… 


Like a carefully choreographed play, accusations by the police that they have uncovered shit and urine stockpiles by protesters has been their routine to cover up their actions at both the Democratic and Republican Party Conventions. By making these false accusations in the press, the police and politicians hope to cover up their own shitty actions against lawful protesters. What they are actually trying to do is make political dissidents in the US out to be of the same stripe as common criminals in the police torture chamber prisons around the US, thus justifying their overkill storm-trooper presence these last two weeks. Thus helping tear up all our legal protections and rights.
Ray Nagin is a typical sorry ass Democratic Party hack. Like all of these mothers, Ray likes to help out the Republicans both rhetorically and concretely. When the Republicans wanted to ethnically clean the City of New Orleans by tearing down and not rebuilding public housing, they had a a friend in Ray. And what will stand out about the Hurricane Gustav that never really fully materialized, will be Ray’s waving the rhetorical shotgun against supposed future ‘looters’. Commentator David Zirin at Znet summed up Nagin’s threats against ‘looters’ below…
…Dictatorships have gotten wise. It is easier to run a dictatorship when you present the public with two parties instead of one. Dictatorial Power no longer resides in just one single individual in today’s dictatorship, but within one power bloc instead. The public face of today’s dictatorship is a bureaucratic assemble of hacks, not just the face of one Supremo.
A weak candidate has now picked an even weaker running mate, Joseph Biden.
COPY CAT LOSERS