“The Bear Market Economics Phenomenon” is an observation of Political Economics. Wall Street Admits: ‘We Got Rich Off the Backs of Workers’ thus creating the Bear Market. The Bear Market is America's default war.
The ethic of Wall Street is the ethic of celebrity. It is fused into one bizarre, perverted belief system and it has banished the possibility of the country returning to a reality-based world or avoiding internal collapse. A society that cannot distinguish reality from illusion dies.
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global hegemony by freethoughtmanifesto.blogspot.com
Want to know why this country can't create jobs, why
unemployment is rampant, why our education system is deteriorating, our economy
is lifeless, and we have a national debt of $17.3 trillion? It's because funds
that should be used to stabilize and rebuild this nation's foundations are
being directed, instead, to the massive, military establishment and empire of
bases across the world.
Here's my modern-day adaptation of what President
Eisenhower said
as he left the presidency in 1953: for eachbillion dollars that this government spends on excessive weaponry and
on maintaining the military empire, that is a billion dollars that cannot be spent
on this nation's critically important domestic needs; from restoring our
manufacturing sector and creating new jobs to improvements in our education
systems and funding important social programs, including facilities for mental
health problems.
America needs a
strong military, but not a giant monolith spanning the world. It needs a force
to defend America
from any nation or terrorists who pose a direct, imminent threat to this
country but not an overly aggressive military force whose intent is to dominate
the world.
The power that the U.S.
military establishment holds over America is pervasive and very
troubling. The degree to which military matters dominate this country's
priorities and direction is staggering. As it sucks the wealth out of this
nation, it stifles creativity, it suffocates innovation, both of which once
made this country exceptional.
Eisenhower predicted almost exactly what is happening in America today. But,
though he had a vision of the future, in no way could he have predicted that
the following disturbing scenario is being played out in recent times:
America
winds down its manufacturing sector, ships its production and jobs to China
which uses them to expand its workforce, grow its economy, generate massive profits
from these endeavors, and then invests multi-billions in U.S. securities.
The U.S. government
takes the proceeds from these Chinese investments and spends them on a massive
military empire. The Chinese government knows that America, instead of using
these funds to strengthen its foundations, creating new jobs, reducing debt and
funding critically important domestic needs, will use them as fuel for the
engines of war.
And the
Chinese leaders know that America, by this foolhardy agenda, is continuing to
materially weaken itself and that it won't be long before its financial House
of Cards begins to collapse. Very clever, those Chinese. Their plan to weaken America is not
the least bit complicated and it's working to perfection.
Now, wouldn't it be reasonable to think that this
president and the key members of Congress would be totally cognizant of that
very scenario just portrayed; that they should be fully aware of China's plan and
the strategy behind it? Could they be so blinded and shallow-minded not to
understand what China's
intentions are?
Can't these governmental leaders perform basic math? All they
need to do is to add up the annual revenues that this government receives from
all sources, calculate total spending from all areas, being sure to include all
aspects of military spending and all the proceeds from foreign investments, aka
loans, (the lion's share from China)
and calculate the result.
Then let them take that same calculation and result, remove
that portion of revenue that comes from Chinese investments and then see what
they get. They can easily determine that the great shortfall in revenues vs.
spending can be directly attributed to the grossly excessive military spending.
And, if they could come out of their political fog they just might think about
what's going to happen not if, but when, China decides to pull the plug on
their investments.
Here's an article
that shows "The True Costs of Empire" and shows the enormous cost of
maintaining these bases and the extent of waste of taxpayer funds. Experts on
military matters have concluded that this nation spends as much as $1.2
trillion annually on maintaining our military.
In speaking of the massive waste involved with military
spending, here is a prime example of how taxpayer dollars are being totally
misused in government contracts with defense contractors. Lockheed Martin's F35
fighter jet being developed for the Defense Department has been in the works
for over a decade. The program has been beset by administrative problems, huge
cost overruns and serious technical problems. It's generally acknowledged to be
one of the biggest boondoggles in American history. Estimates put the current
cost of developing, testing and building the F-35 multi-role fighter jet at $396
billion, a forecast that assumes U.S. purchases of 2,443 production
jets, on top of 14 test planes.
This
is a program that many experts say is a complete failure and should be ended
immediately. But this just happens to be a defense project that is simply to
big to kill because it involves 1,300 suppliers in 45 states supporting 133,000
jobs. In other words, while it's a terrible waste of taxpayer dollars, it can't
be terminated because of the people it employs and the profits that Lockheed
Martin continues to rake in. This is pure government insanity but who's going
to stop it?
This situation brings to mind a quote from Ross Perot when
he was running for president in 1992; he famously referred to "that giant
sucking sound", describing how American jobs would be going south to Mexico if the
then proposed NAFTA free-trade agreement was approved. He was right and we are
still paying the price for that government blunder. But today we hear a giant
sucking sound far louder than the one described by Perot. It is the bloated,
obscene, out of control military spending that is sucking the lifeblood out of America.
There is nothing complicated about what this government
must do. It must convert this nation's concentration on military supremacy into
a concentration on economic supremacy. A significant portion of the military funding
must be shifted to domestic needs; we need to start rebuilding America
beginning with the restoration of our manufacturing sector, the driving force
of growth and prosperity; that which creates jobs for Americans who, in turn,
buy American products. That's the essence of our economic system, driven by the
purchasing power of the American consumer.
We have to end our obsession with war and become obsessed
with addressing and solving our domestic problems. We have to cure our
addiction to military hubris and domination of other nations and embrace a
foreign policy that uses diplomacy and peaceful negotiations to solve problems
between nations. In many international surveys of opinions of people of other
nations it has become very evident that America has become an object of
fear and is considered a major threat to world peace.
It's time for this government to read the
handwriting on the wall; to listen to the constant warnings being issued about
the great dangers facing this nation. The leadership in Washington
can take immediate, positive steps to phase out this military empire or it can
stand by and watch as this empire comes crashing down on America.
Michael Payne
Michael Payne is an independent progressive activist. His writings deal
with social, economic, political and foreign policy issues. He is a
graduate of Northwestern University, Evanston, Illinois and a U.S. Army
veteran. His writings are meant to (more...)
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