The more I think about what has just transpired, the more I realize that another 9/11 event has just occurred in America. This time like last time, the terrorists are the same evil cabal.
It’s been said “In politics, nothing happens by accident. If it happens, you can bet it was planned that way.” — Franklin D. Roosevelt.
The gutting of the American financial system has long been feared as a coup de tat of the American worker. 3023 American died on 9/11, but you can be sure that this September surprise event will take the lives of millions more.
Why? Because the basis of our entire society and way of life has been completely obliterated. What the media suppresses is:
— decades of wealth transfers to the rich;
— the economy in recession;
— the result of multiple imploding bubbles: housing, mortgage finance, and an alphabet soup of SDOs, SIVs, SPVs, and a whole menu of levered-up, high-risk securitized assets amounting to financial alchemy; largely outright fraud;
— the risk things may worsen;
— from drowning in debt and speculative excess;
— bankrupt by some measures;
— huge amounts of corruption;
— government hiding how bad it is; complicit in it as well;
— over one million homeowners foreclosed since summer 2007;
— another million are 90 days past due on payments; foreclosures about to go out on them;
— three million more potentially in coming months with up to five million total at risk over the next few years in the worst housing crisis since the Great Depression and too little government help provided too late;
— rising unemployment;
— failing banks;
— rising inflation; and
— consumers maxed out on credit and strapped by indebtedness.
Reviewing Danny Schechter’s “Plunder from Steve Lendman’s blog
Believe me, this is the short list. A longer list would include bread lines, starvation, hyperinflation, rioting and unrest, massive civil disobedience, suicides and deepening depression, a real honest-to-god full-blown depression on a global scale, and the inevitable police state crackdown.
Lendman has a good synopsis at the link above on why this all happened, so I won’t reiterate it here, but please read the entire thing. But I will sum it up in a single word: Greed.
Unmitigated greed caused all of this. Financial gluttony. Gorging themselves on the public at large, gluttonous credit lenders created a gargantuan amount of ‘bad debt’. Everyone from the local janitor to the ad executive got involved. And now we (you and me) are expected to bail these bastards out, while they keep their profits.
Schechter refers to “an unholy trinity of private players, Wall street firms, and non-regulating regulators” who saw a way to profit hugely. Do it with shady practices, and thus partner in a “criminal conspiracy” to rip off millions of working Americans. “It was the largest robbery in history – not a bank heist but a heist by banks.”
I deviate here on what we can do about it. This blog has been chronicling the collapse through various indicators and signposts for some time. Since the U.S. government alleges to now be the mafia don to this bankrolled disaster, this is where it WILL deviate dramatically from what financial experts seem to suggest.
Unlike a corporate institutions which has regulations and laws governing it’s behavior and in your relationship (debt) to it, the U.S. government is in a unique position to do pretty much whatever the hell it wants when it comes to your debt.
What does this mean? It means that it can choose to do several things, including eviction, confiscation of assets and property, labor camps, bond slaves, selling your debt to others and giving them “special permissions” to treat you howsoever they may want, or any number of things (a new agency is already being created, this could easily morph into something quite ominous).
Essentially, it means that since it is the government that now lays claim to your debts, the government is free to do what is has always done, namely pass any legislation or law (or simply ignore it) to force you to deal with your debt by any means possible. And by “any”, I mean ANY. They could (and might) even hunt you down after you disappear down the road and toss you into prison (labor camps) to pay off your debts someday. Not possible? You should take a very close look at history, it’s happened many times before.
Let your imagination roam for a few moments as you consider the ‘benevolent’ nature of our thoughtful government and how it’s willing to treat you. Don’t let the other 9/11 event enter into your consciousness, or those images of people leaping from tall buildings affect your mind as you consider the wonderful benefits of being held hostage to your government.
This is why I have long advocated pay off your debts and get debt free (at all costs). You do not want to be under the ‘thumb’ of anyone, especially Big Brother when collapse happens to you.
By the way — I think I can now declare that ‘collapse is now here’, we are no longer in the pre-collapse stage of falling dominoes. Meaningless to most I’m sure, except perhaps to new readers.
Paulson Bailout Plan a Historic Swindle
By William Greider
Financial-market wise guys, who had been seized with fear, are suddenly drunk with hope. They are rallying explosively because they think they have successfully stampeded Washington into accepting the Wall Street Journal solution to the crisis: dump it all on the taxpayers. That is the meaning of the massive bailout Treasury Secretary Henry Paulson has shopped around Congress. It would relieve the major banks and investment firms of their mountainous rotten assets and make the public swallow their losses€“many hundreds of billions, maybe much more. What’s not to like if you are a financial titan threatened with extinction?
If Wall Street gets away with this, it will represent an historic swindle of the American public€“all sugar for the villains, lasting pain and damage for the victims. My advice to Washington politicians: Stop, take a deep breath and examine what you are being told to do by so-called €œresponsible opinion.€ If this deal succeeds, I predict it will become a transforming event in American politics exposing the deep deformities in our democracy and launching a tidal wave of righteous anger and popular rebellion. As I have been saying for several months, this crisis has the potential to bring down one or both political parties, take your choice.
I don’t currently agree with this conclusion. There is a large contingent of American (indebted and debt-free) who believe that the meek will inherit the earth. This is not true and has simply never been true, if a popular rebellion is going to arise, it will be because of something far more serious then this.
Hunger would do it. So would imprisoning Americans for their debts. So I suppose that rebellion / revolution could lead back to this, but it certainly will not precede something far more serious happening. As I’ve said, we have not yet suffered enough to want to embrace the changes that are absolutely necessary and essential. This financial holocaust isn’t “it” — not yet.
It may be another 9/11 class event, but it’s not the event that will topple the Empire. No, the Empire is only going to tighten the screws even farther, it’s now on a one-way street straight to hell. More financial failures are already in the works, and with their unlimited check writing skills newly acquired, the road to hell will be paved with the broken, bruised and battered bodies of Americans who are going to be flagellated to pay for it.
Some righteous anger right about now would SURE BE HELPFUL, it’s a damned sight better then sitting around waiting for the next shoe to drop. There IS a way to resist, I have long held back on how it can be done. But educating the masses to finally accept reality has been hard enough, so please don’t ask how, I’m still convinced Americans are not ready for this yet. I also firmly disavow any attempts to ‘save the system’, which is what most people still think is the goal. I don’t.
Posted under collapse and tyranny, because … well, you know why.