At 12:14 PM -0700 19/5/08, Kevin Callahan wrote:
>http://www.commondreams.org/archive/2008/05/19/9047/
>As Mike Whitney reported at the end of October in 2006 - a day before
>Halloween - the US was then engineering the drop in the dollar to
>"improve competitiveness" - ie subsidize US exports in a flawed
>attempt to reduce the growing balance of trade gap. The result was
>summed up in the headline: "The U.S. Dollar is kaput. Confidence in
>the currency is eroding by the day."
>
>Whitney saw then what our media has still yet to report or understand.
>Was it a "trick or treat?" Read on:
>
>"The financial crisis that we now face was created by design. It is
>intended to destroy the labor movement, crush the middle class, quash
>Medicare, Medicaid and Social Security, reduce our foreign debt by 50
>or 60%, force a restructuring of America's debt, privatize all public
>assets and resources, and create a new regime of austerity measures
>which will divert more wealth to the banking and corporate
>establishment."
Apply Hanlons Razor -- Never attribute to malice that which
can be adequately explained by stupidity.
A lot of the current financial crisis is due to a hugely
expensive war, which was entered into on absurdly optimistic ideas
about its outcome. A lot of it is due to selling mortgages to people
that couldn't conceivably pay for them, and repackaging them in a way
that pretended it was a good quality investment.
While there is no doubt an attribute of conspiracy to both,
the problematic parts of both result from stupidity. Even though Bush
and Cheney conspired to get the US into the war, even Bush would not
have done so had he known it would lead to him being regarded as the
worst president in US history.
Cheers
David
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