Posted on 06/16/2009 4:36:09 PM PDT by Wontsubmit
This week marks the end of the dollar’s reign as the world’s reserve currency. It marks the start of a terrible period of economic and political decline in the United States. And it signals the last gasp of the American imperium. That’s over. It is not coming back. And what is to come will be very, very painful.
Barack Obama, and the criminal class on Wall Street, aided by a corporate media that continues to peddle fatuous gossip and trash talk as news while we endure the greatest economic crisis in our history, may have fooled us, but the rest of the world knows we are bankrupt. And these nations are damned if they are going to continue to prop up an inflated dollar and sustain the massive federal budget deficits, swollen to over $2 trillion, which fund America’s imperial expansion in Eurasia and our system of casino capitalism. They have us by the throat. They are about to squeeze.
There are meetings being held Monday and Tuesday in Yekaterinburg, Russia, (formerly Sverdlovsk) among Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization. The United States, which asked to attend, was denied admittance. Watch what happens there carefully. The gathering is, in the words of economist Michael Hudson, “the most important meeting of the 21st century so far.”
It is the first formal step by our major trading partners to replace the dollar as the world’s reserve currency. ...
(Excerpt) Read more at truthdig.com ...
If its bankrupt now, what will it be after Obamacare is passed?
Yet the American folk still love their Black Messiah! Dear God in Heaven Lord Jesus, please forgive us our trespasses and heal our land. Remove this diabolical evil man from the WH! And save our children from this demon!
Who knew? ;-)
In 2007, Dr. Hudson was Chief Economic Policy Adviser
for the Kucinich for President campaign.
He is now writing a new tax policy for the United States.
“...and moral renewal, which an array of proto-fascists, from the Christian right to the goons who disseminate hate talk on Fox News, will assure the country they will impose.”
What kind of crap are you posting here????
I’ve long said “A coup is going on” and we victims are like the frog thrown into cool water over a burner set on high.
Wow ! Right from the pages of Pravda !!
When we are standing in breadlines with ration cards and living in COSCO containers, we will praise Obama for increasing our allotment for the month by 1 pound of beans... even if they say never mind a day later.
Sorry, twisted sense of humor ...
Even commie-pinko-Liberals like Chris Hedges worry that we are bankrupt ...
The person who wrote that is on their side, not ours, but he is not hiding it is he?
The Clinton-Bush dollar exporting trade deals have come home to roost.
Obama plans to supervise US global financial firms according to Drudge right now. Can it be done competently? No. No better than the Chicago political apparatus could supervise or better than the Fed Reserve and Treasury have functioned at present with no intent or desire to account, disclose over $10 trillion of activities in the last year. With the whole world not disclosing its true status financially, how will Obamas control have any special credibility or effectiveness for the US? Essentially, global US financial institutions all disappear into a black bag.
“There are meetings being held Monday and Tuesday in Yekaterinburg, Russia, (formerly Sverdlovsk) among Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization. The United States, which asked to attend, was denied admittance. “
If the MSM wasn’t too busy wanking Obama off, they might report this as news.
I seem to remember this lying sack of dog mess putting out an obnoxious screed about the “religious right” and how dangerous it was a couple of years ago.
He may be correct in what he says this time, but I don’t trust him.
Perhaps. But probably not. Not minimizing the difficulties to come, but those problems are due primarily to mental/cultural issues, and those tend to get straightened out by difficult times.
Mental issues aside, the US still has those essentials for global power.
To begin with, we have one hell of a great location. We're not going to be invaded by anybody, and our culture can therefore address its issues relatively unmolested.
Next, we have a large and sophisticated population which can (and most likely will) reassert itself as a result of the difficulties.
Third, despite all those dark mutterings of "revolution," and chaos to come, and all that, we are a politically stable nation, and are likely to remain so.
Fourth, we have incredibly vast resources in minerals, energy, arable land, timber, and pretty much everything else. It is impossible to overemphasize the importance of those resources and the wealth they represent.
I suppose Mr. Hedges enjoyed writing his article, but it's based on that huge false assumption. It's just no convincing.
What, Chris Hedges is doing satire now? Who knew?
Well, he actually seems to be an honest fellow, but he’s coming at this from a different perspective.
http://www.truthdig.com/report/item/20081229_why_i_am_a_socialist/
He’s still a punk, though.
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