THOUGHT FOR THE DAY!

"Imperialism today is taking place in the context of...the 'universalization' of capitalism. It is not now primarily a matter of territorial conquest or direct military or colonial control. It is not now a matter of capitalist powers invading non-capitalist powers in order to bleed them dry directly and by brute force. Now it is more a matter of ensuring that the forces of the capitalist market prevail in every corner of the world (even if this means marginalizing and impoverishing parts of it), and of manipulating those market forces to the advantage of the most powerful capitalist economies and the United States in particular." ... "Military force is still central to the imperialist project, in some ways more than ever."-- Political scientist Ellen Meiksins-Wood, Z magazine Nov 1999, p26

 

HAPPY 'KICK OUT THE GOVERNMENT' DAY!!!

 

Financial crisis: Default by the US government is no longer unthinkable

Paulson's latest liquidity injection has lowered over-night Libor rates for now. But, despite the torrent of cash the US has directed at the credit markets, longer-term inter-bank rates have stayed stubbornly high, and some have gone up further. In other words, even the banks themselves don't think the rescue plan will work. Expect more - and bigger - liquidity operations in weeks to come.

The trouble is, though, as the bill for these bail-outs keeps rising, so does the possibility that the political consensus will crack and there'll be an almighty, and debilitating, dust-up.

Webmaster's Commentary: 

There is no "political consensus" out here in the real world. WE THE PEOPLE think the idea sucks, and we will not and cannot pay for Wall Street's recklessness.

Let it all crash. Let the US Government with it's $14 trillion debt collapse. Then pick up the pieces and start a new nation with better fiscal sense.

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Posted on Sep 20, 2008 at 20:17
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