Tag Archives: economic crash

Turning the economic corner to what?

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The US media is now full of optimistic assurances to ‘We, The People’, that ‘the economy is turning the corner’ and all will be well once again as if that was ever all that much the case! Certainly it has been better though, yet today the US does not, and cannot, operate in isolation from the world downturn of Big Business. So how’s it going elsewhere? Take a look at our friends the British, and you will see just how they are doing? …and it’s not so good.

From the conservative and hallowed British newspaper, the Telegraph, you can read that the British economic collapse rivals Great Depression, and that British output fell 5.6 % over the last year! That’s a -5.6% GDP, so why is the American press so full of bullshit about ‘turning the corner’? A short stock market rally is no turning of any corner, but a negative rate of GDP for the last year is definitely an ominous sign. It will simply take more than positive spin or pep talks to turn any corner yet ahead.

The desire to paint such a big happy face comes about when corporate leadership has no plans to alleviate any misery anywhere these days. If anything, they remain absolutely fixated on spreading more misery through more war, rather than improving the economic welfare of people through PEACE and a productive society run by a productive economy. Capitalism simply is not a productive economy, but rather is merely a route for and elite to get rich off the rest of us and through a looting of Nature. Changing that would be turning a corner but capitalist elites are not going to change The-ir System.

Ft Carson is Burnt Acres not Green Acres

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Ft Carson fire of 2008For several years now Colorado Springs has watched in incredulous dismay as the Pentagon has tried to represent its local terrorism training center, Fort Carson, as being some sort of Green Acres to Coloradans. Incredibly, the local group of Democrats at the Pikes Peak Justice and Peace Commission have done their part in playing part of the game with the military in this regard, as they held joint meetings with the military and even printed up some of their propaganda about being ‘Green’ in their quarterly newsletter.

But what’s the real story about this supposedly lean, green, terrorist cell near by? Are they out to save Mother Earth through the military-industrial complex as they claim? If you are a True Believer in this Pentagon propaganda offensive, then take a look at this news item then… Fort Carson fire consumes 6,500 acres

It turns out, not surprisingly, that the military dropping bombs during heir ‘exercises’ is what started this fire out. These boy toys are noted for being just like that, but burning money off through weaponry is the American economy and so this Blood Red group must expand! Nothing green about it except for the American dollars being consumed so stupidly. It’s simply time to stop this bombs away, burn Mother Earth away machine. If you care about ecology, get out and show your concern by protesting the continuous and constant US military presence here in Colorado Springs.

It takes a lot of nerve to try to pass the pentagon off as Green, humane, and Earth loving, doesn’t it? But these Pentagon lairs get a humongous propaganda budget from American taxpayers to do just that. If your military backed job depends on it,t hen you might be the type of dunce to buy into this hogwash? If not, it’s just another reason to be sick of what the total militarization of America is doing to us.

*** Note that the fire pictured was a wildfire from last year at Fort Carson and not this year’s fire.

Apres nous, le Depression

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If it matters what to call this financial crisis, what is it? Is America in a recession? When does a deep recession approach a depression? When is an economic crash revealed to be a collapse? Before we can rename the Great Depression, as we did the Great War (WWI), in deference to this latest, we would do better to address the cataclysm which left this depression.

It was not a meteor, not the foot of Godzilla, nor a collapsed salt mine. The scorched earth we see about us, this rapidly degrading economy, is the destruction wrought by a Norman raid; a blitz of rape and pillage with brutal indifference.

It wouldn’t matter what you call it except that the raiders are still among us. If your valuables are still intact, it’s because they haven’t yet been sacked. If you still have your house, it’s not because the tethers aren’t attached, it’s that they haven’t started towing it off.

When you can see this robbery for what it is, you’ll know that history can tell us that the barbarians do not leave even gold fillings unmolested.

Do you doubt a viking analogy? Look at the economic news today. Over half a million jobs lost in January, over three million jobs lost already. On the same day, the stock market rallies upward.

While you are losing your livelihood, those who invested in the long ships are heartened by the projected success of this raid.

Barack Obama headed to becoming America’s most disappointing President

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accident-aheadOK, excuse time is now over as Barack Obama takes office, so what does the future actually hold for us? The Democrats can now no longer hide behind the Bush Administration and even though most Americans believe that the Republicans and not the Democrats are responsible for the economic crash, they will now expect results from this new president. He can talk, but can he walk the walk?

But here is the sad state of affairs per Global Insight which is the world’s largest economics organization. The American economy is sinking fast. See New York to lead U.S. in job losses for Global Insight’s analysis of the situation.

Hundreds of thousands of people’s jobs will now go under according to this forecast, and yet Barack Obama’s plan for action looks like a total disaster in the making. Soon enough, even Democratic Party voters will get upset at the disaster unfolding as they watch the Democratic Party give trillions to corrupted and bankrupt businesses while all the while cutting social services needed for the common good. They may well see the US government itself declining into bankruptcy?

Add to this, the Barack Obama plan to continue fighting wars all around the globe as the economy tanks and just keeps on tanking. There is no new game plan from the Democrats and eventually more and more people will begin to catch on. Plus, the novelty of having a Black man as president will hold off criticism only just so long, and then resentment of the Democrats will build up just as it did with Bush. Add to this, people may actually begin to see the relationship between the country’s militarism and the country’s bankruptcy in the making? Yes, I think they will. A bad economy opens people’s eyes.

For that reason it is quite sensible to have real cynicism about the fanfare and media show we will see tomorrow night. The same corporate media that did all they could to make us fans of the Republican show of the last 8 years will be screaming at us to embrace ‘The Change’… ‘The Change’ that is no change. They will try to dazzle us and awe us with superfluities of all sorts of stuff, but the new show looks quite still born at this point though it may take a while for most to realize that? Hope will fizzle quite quick as the whole world sinks into economic depression, America leading the pack. Barack Obama will most likely become America’s most disappointing President, though through the fireworks display little of that future will be foreseen by most during his Inauguration Day ceremonies tomorrow

Barack just cannot deliver the goods (nor has the desire to) to actually bring about this change that is, and will be, absolutely necessary. Yes, though Bush is now truly despised by so many, it may well be that Barack becomes not just disappointing but despised as well? When there are no jobs around, people want to know why? And the answer to that WHY will be…. Barack just did not deliver.

I see sadness and despair, hate and anger ahead. I see people growing fed up with empty promises while the rats continue to get fed.

$7.76 trillion

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This just in from Bloomberg News- $7.76 trillion in guarantees (from the US government) For more about Bloomberg see wikipedia Bloomberg L.P. You heard it from the horse’s mouth and the horse is worried. Will the US Treasury itself collapse under all this give away?

Stock markets shoot up as European give aways to super rich go online

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champagneThe European countries more than matched the US government give aways to the super rich and as a result, the markets everywhere are celebrating this Grand Theft Robbery today. Wall Street soars 11 percent on bank rescue and Morgan deal

The kingpins think everywhere that its once again clear sailing for them. However, there is eventually a big price for them to pay for all this, as the common folk everywhere will have to begin to suffer because of these handouts of their money, their work, their children’s futures to these financial and government vultures.

With this suffering will come a rising anger about these gargantuan robberies of national and international wealth, when the people themselves need these funds to make a decent society. Never post WW2 has the system of private property run by the super rich spun itself so totally into the wrongest directions. Dead now is the idea of inter-class cooperation within the capitalist markets of the imperialist nations. Many will still support the super rich no matter how far they go with their criminality, but the foundations of that support have been severely undermined.

Further, since no real correction of any of the main problems that the world economy has faced have been put into place, all that has been bought is the smallest increment of time for the capitalist governments to regroup. These markets are eventually going to collapse again, and when they do, what will then be left for the rich folk to plunder to keep their pyramid schemes afloat? Nada.

Troopergate Verdict and Depression sink McCain down to his knees

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troopergateObama has covered himself by being even more aggressive towards Iran than the Bush-McCain Klan are. That is meant to deflect the October Surprise if Bush and Israel decide to attack Iran before the US presidential election. Meanwhile, Troopergate and the Economic Crash have put a stake into the heart of The Old Vampire, John McCain.

Obama opens double-digit lead as Palin under fire The Northern states’ business community is about to take back direct control of the White House away from the Southern states’ business community once again.

America’s business community as a whole remains quite split which has kept it somewhat close in the polls for McCain. But this time around, they are not about to let the Southerners stalk off with a marginal ‘victory’ once again. There is just too much at stake as European business support for the US has become seriously loosened by the Bush Administration belligerence and unilateralism. America’s leadership at the pack of world wolves is slipping fast, and the less rabid amongst the business community know that.

An attack though in the next weeks on Iran would throw all calculations into a swirl. Would it still be able to work to McCain’s favor? We cannot truly know for sure, but it actually at this point, might just appear to be way too obvious an election ploy to work well? We shall see….?

The crash continues as American people go into shock

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dangerousLast week we saw most of America go into shock as the stark reality of the US not having a real opposition party became evident. The Democratic Party actually led the rush to pass Bush’s $700 billion giveaway to the rich Bill into law, and it was actually the Republican party that posed the minor stumbling block to getting it done. The American people were almost completely left on the sidelines as a result of simply never having constructed a major opposition party to the Two Party Big Business dictatorship that US is run under.

This week, the show has already begun again, as stocks begin the week by crumbling throughout Asia, Europe, and North America. Nobody is fooled internationally by the $700 billion dollar American give away legislation. Germany had to even copy the US government with their own give away bill, too, to the banks. Germany moves to shore up bank confidence And the Euro appears to be in as bad a shape as the dollar is in world currency marts, sliding in relation to the dollar!

Everywhere they talk of a stampede as stock values and currencies crumble. They talk of panic and they talk of crisis. The US stock market continued down this AM and everywhere there is a sense of impending doom. Hard times are now being made by the financial sectors for all of us, as unemployment rolls rise, production drops. The crash continues as the American people go into shock.

The Panic of 1873 and the panic today

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panic-of-1873Many are looking back at the 1930s to the Great Depression of that Era and comparing today’s capitalist downturn to that one, but others see little similarities between that Economic Crash of what appears to many as the mere distant yesterday and today’s. Yet there is still another great financial crash to compare our current one to, the one historically called The Panic of 1873.

That one, too, had many differences to the Great Depression of the 1930s, and YES also to the one we are living now. But all three of the mentioned capitalist economic worldwide crashes share some remarkable similarities, too. Here are a few similarities between now and 1873.

In 1873, the US had just finished an incredibly costly Civil War, where huger amounts of money went into funding the military. Today, we see huge amounts of deficit spending on the military that have ballooned the national debt into the multiple trillions of dollars. Piggybacked onto that is the same credit crunch that the people of 1873 saw and experienced. Further, both these 2 economic crashes were worldwide, and not just American affairs.

One other aspect of all these Crashes is the lack of concern with most human suffering that the crashes cause to the working class. “Panic, as a health officer, sweeping the garbage out of Wall Street.” See what I mean? And another thread to all these horrible downturns is the utter confusion of people living on the dogmas of their times. Today, as in the past, people can’t seem to figure out just who to blame, and have a tendency to blame innocents instead of perpetrators of the crises.

Turning those looking for work into felons

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The US government is beginning to make the Mexican-US Border into a supplier for the prisons by turning undocumented workers into declared felons.

No doubt, this is going to help employment in the US for all the pro military-industrial types, who can now maybe better weather the incoming economic crash some, by watching over jailed Mexicans while getting paid? What a way to breed racist Minutemen thugs, too! Welcome to Prison Nation. No doubt the meatheads of America will be thrilled to death with this new governmental welfare program for them.

Mexico slides into political chaos

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There is little news in the US press about it, but Mexico is beginning to sink into chaos. After stealing the Mexican federal presidential election in mid 2006 with US support, Felipe Calderon (FeCal), now acting president, began a struggle to obtain some public legitimacy by initiating a war with Mexico’s drug lords. He is now losing that war.

Of even more potential interest to the Mexican public as well as to the international public, is a split forming in the Mexican political establishment, exemplified by a new book by long time PRI leader, Roberto Madrazo entitled ‘La Traicion’ (The Betrayal). Madrazo book claims that Mexico was betrayed, as well as himself, by a secret pact made between previous Mexican presidents Ernesto Zedillo and Vicente Fox. He dates that secret pact as having begun in 1994.

The essence of that pact was to seemingly end the over a half century dictatorship of one party, the Partido Revolucionario Institucional or PRI, and to begin a planned-on ‘alternancia’, where political power would alternate between the PRI and PAN kind of like it does in the US between the Democratic and Republican parties. Except the pact was actually broken when Felipe Calderon followed Vicente Fox into presidential office, since both are from the same political party. Madrazo knows about this secret plot well, since he was a full participant to it when it was initiated. But he thought that it would guarantee him the presidency in 2006. Instead, he came in third, hence the ‘betrayal’.

But what political forces actually launched this secret plot? Roberto Madrazo dates this well and it is easy to follow the money. He dates the plot as beginning in 1994 and it was in precisely the time that the Clinton Administration and Mexican PRI government were negotiating an economic ‘bailout’ to stop the Mexican economic crash of that time. In 1995, the cash began to flow to the tune of over $55 billion dollars from the US into Mexico. What was purchased by the US government?

The US was sick of having ties to a corrupt Mexican dictatorship that had no world legitimacy. The European Union was formed as an economic bloc, but the US only had Mexico and Canada to work with, and Mexico had a most unsavory reputation. What was purchased by the bailout was an agreement to open up the Mexican system to another pro-big business political party, the Partido Acion Nacional or PAN. That way, the US would not be seen as dealing with a dictatorship.

The PRI establishment wanted some guarantees as to their future though, and Roberto Madrazo wanted the 2006 presidency to come back to himself. Well it simply didn’t, as change began to spin out of control of the PRI bigwigs in charge up to that time of all that was Mexico.

So where will the political chaos brake at? A lot will depend on what happens in the war of Mafias now engulfing Mexico. Presidente FeCal (Felipe Calderon) thought he had the best armed and best situated mafia. Perhaps not? Like Colombia, Mexico might now best be considered an evolving Narco-Death Squad state. Lots of dealing and wheeling gone bad. And FeCal as well as Roberto Madrazo may well fall to the wayside.