Infinite Unknown

By PAUL CRAIG ROBERTS

Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review.

Does the liberal-left have a clue? I sometimes think not.

In his book, “What’s the Matter With Kansas?,” Thomas Frank made the excellent point that the Karl Rove Republicans take advantage of ordinary’s people’s frustrations and resentments to lead them into voting against their best interest.

Frank’s new book, “The Wrecking Crew: How Conservatives Rule,” lacks the insight that distinguished his previous book. Why does Frank think that conservatives or liberals rule?

Neither rule. America is ruled by organized interest groups with money to elect candidates who serve their interests. Frank’s book does not even mention the Israel Lobby, which bleeds Americans for the sake of Israeli territorial expansion. Check the index. Israel is not there.

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Tags: AIPAC, Al-Qaeda, Al-Qaida, Bill Clinton, Bush administration, China, civil liberties, Democrats, Dick Cheney, George Bush, Government, Impeachment, Israel, Nancy Pelosi, Neoconservatives, New World Order, nuclear, nuclear war, Nuclear weapons, Police State, Republicans, retirement, Ronald Reagan, Russia, Social Security, Taliban, U.S., Zionism

It was when “official government-approved” inflation figures were released that I really lost it last week, as that particular rate of inflation is now a staggering 5.6%. This is - as you can probably tell by the look of panic and terror on my face - Terrible, Terrible News (TTN).

And when you look at what John Williams at shadowstats.com calculates as inflation, according to the time-honored method of actually looking at real prices instead of the “qualified estimates” that are used today, you will see that annual inflation in consumer prices is actually running at over 13%! Some of the worst in American history! We’re freaking doomed!

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Tags: Consumer Price Index, Economy, Food, Food Prices, Government, hyperinflation, Inflation, Social Security, U.S.

We already know about the lies orchestrated by the White House to justify the invasion of Iraq . But there is a bigger secret that has not yet hit the mainstream media. And it probably never will until it’s too late. Those of you who read my book already know about it because I discuss it at length. For those of you who haven’t had a chance to read America’s Financial Apocalypse , I’m going to expose this secret now. Continue reading »

Tags: Bush administration, Congress, Dollar, Fed, Federal Reserve, GDP, George Bush, Government, insurance, Iraq, Medicare, retirement, Social Security, Taxes, taxpayers, Treasury, U.S., Wall Street, White House

As the Bush administration proposes backstopping mortgage giants Fannie Mae and Freddie Mac with a $300 billion line of credit and Congress contemplates another economic stimulus, the question is who will bail out the government?

“People seem to think the government has money,” said former U.S. Comptroller General David Walker. “The government doesn’t have any money.”

A rare consensus has developed across the political spectrum that the government’s own fiscal affairs are precarious, with an astonishing $53 trillion in long-term liabilities, according to the Government Accountability Office.

To put that number in human terms, the debt has reached $455,000 per U.S. household. As that debt grows, the United States increasingly relies on foreigners, including China and Middle East oil producers, for financing.

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Tags: bonds, Bush administration, China, debt, Dollar, Economy, George Bush, Government, healthcare, Inflation, Middle East, Politics, Recession, Social Security, Treasury, U.S.

Broad, invasive provision touches nearly every aspect of American commerce.

Washington, DC -  Hidden deep in Senator Christopher Dodd’s 630-page Senate housing legislation is a sweeping provision that affects the privacy and operation of nearly all of America’s small businesses. The provision, which was added by the bill’s managers without debate this week, would require the nation’s payment systems to track, aggregate, and report information on nearly every electronic transaction to the federal government.

Call Congress and Tell Them to Oppose The eBay Reporting Provision in the Housing Bill: 1-866-928-3035

FreedomWorks Chairman Dick Armey commented: “This is a provision with astonishing reach, and it was slipped into the bill just this week. Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover, and American Express, but the bill specifically targets payment systems like eBay’s PayPal, Amazon, and Google Checkout that are used by many small online businesses. The privacy implications for America’s small businesses are breathtaking.”

“Privacy groups like the Center for Democracy and Technology and small business organizations like the NFIB sharply criticized this idea when it first appeared earlier this year. What is the federal government’s purpose with this kind of detailed data? How will this database be secured, and who will have access? Many small proprietors use their Social Security number as their tax ID. How will their privacy be protected? What compliance costs will this impose on businesses? Why is Sen. Chris Dodd putting this provision in a housing bailout bill? The bill also includes the creation of a new national fingerprint registry for mortgage brokers.

“At a time when concerns about both identity theft and government spying are paramount, Congress wants to create a new honey pot of private data that includes Social Security numbers. This bill reduces privacy across America’s payment processing systems and treats every American small business or eBay power seller like a criminal on parole by requiring an unprecedented level of reporting to the federal government. This outrageous idea is another reason to delay the housing bailout legislation so that Senators and the public at large have time to examine its full implications.”

From the Senate Bill Summary:

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Tags: Amazon, Congress, eBay, Government, ID, IRS, Mortgages, Privacy, Social Security, U.S.

(June 17) - Swamped by debt and rising medical bills, elderly Americans have been seeking bankruptcy-court protection at sharply faster rates than other adults, a study to be released Tuesday indicates.
From 1991 to 2007, the rate of personal bankruptcy filings among those ages 65 or older jumped by 150 percent, according to AARP, which will release the new research from the Consumer Bankruptcy Project. The most startling rise occurred among those ages 75 to 84, whose rate soared 433 percent.

The study did not address the specific reasons behind the trend. But experts say medical bills have played a major role in the debt that has forced many elderly Americans into bankruptcy proceedings.

“Health care is a big issue for the elderly,” says George Gaberlavage, director of consumer and state affairs at the AARP Public Policy Institute. “And out-of-pocket expenses have been going up.”

As a result, Gaberlavage says he thinks health care is the single biggest cause of the rise in filings. Continue reading »

Tags: bankruptcy, Social Security, U.S.

The US Senate has voted $165 billion to fund Bush’s wars of aggression against Afghanistan and Iraq through next spring.

As the US is broke and deep in debt, every one of the $165 billion dollars will have to be borrowed. American consumers are also broke and deep in debt. Their zero saving rate means every one of the $165 billion dollars will have to be borrowed from foreigners.

The “world’s only superpower” is so broke it can’t even finance its own wars.

Each additional dollar that the irresponsible Bush Regime has to solicit from foreigners puts more downward pressure on the dollar’s value. During the eight wasted and extravagant years of the Bush Regime, the once mighty US dollar has lost about 60% of its value against the euro.

The dollar has lost even more of its value against gold and oil.

Before Bush began his wars of aggression, oil was $25 a barrel. Today it is $130 a barrel. Some of this rise may result from run-away speculation in the futures market. However, the main cause is the eroding value of the dollar. Oil is real, and unlike paper dollars is limited in supply. With US massive trade and budget deficits, the outpouring of dollar obligations mounts, thus driving down the value of the dollar.

Each time the dollar price of oil rises, the US trade deficit rises, requiring more foreign financing of US energy use. Bush has managed to drive the US oil import bill up from $106 billion in 2006 to approximately $500 billion 18 months later–every dollar of which has to be financed by foreigners. Continue reading »

Tags: Afghanistan, debt, Dollar, George Bush, Gold, Government, Iraq, Oil, Paul Craig Roberts, Social Security, Wall Street, War

Read the Document Here: Endgame

Important background reading:
10-Year U.S. Strategic Plan For Detention Camps Revives Proposals From Oliver North

See also: U.S. immigration raids are about to get ugly

Important DVD: Endgame: Blueprint for Global Enslavement by Alex Jones
Alex Jones is a true patriot, a genuine hero. - Actor/Director Charlie Sheen

Important Book & DVD: Read The David Icke Guide to the Global Conspiracy and watch David Icke: Freedom or Fascism: The Time to Choose and you will know a lot about secret societies and you will understand that the emblem of Homeland Security contains fascist symbols and once you know this you will find them everywhere.
The book is heavy 2.1 pounds with 500 pages but easy to understand - maybe not easy to digest.

This was the Introduction to this article:

Feds say raid is nation’s largest

May 13, 2008

Cedar Rapids, Ia. - The number of illegal immigrants detained Monday in Postville has risen to 390 in what federal officials now describe as the largest single-site raid of its kind nationwide.

The detainees include 314 men and 76 women, according to figures released this morning by federal authorities. Fifty-six detainees - mostly women with young children - have been released under the supervision of U.S. Immigration and Customs Enforcement.

“We’re here to discuss not only the largest operation of its kind ever in Iowa, but in fact the largest single-site enforcement operation of its kind in the country,” U.S. Attorney Matt M. Dummermuth said.

The detainees included 290 who claimed to be Guatemalans, 93 Mexicans, three Israelis and four Ukrainians. Among the detained were 12 juveniles, six of whom have been released.

Customs and law enforcement agents worked through the night processing the detainees, said Claude Arnold, the ICE special agent in charge of the operation. Detainees were “administratively arrested” but have not yet been criminally charged, he said.

Detainees who are charged with aggravated identity theft, unlawful use of a Social Security number or other offenses will be given lawyers and sent to appearances in one of three makeshift courtrooms at the detainee center in Waterloo, Arnold said. Continue reading »

Tags: Alex Jones, David Icke, Detention, Endgame, Homeland Security, ICE, Illegal Alien, Immigration, Iowa, Martial Law, Raids, Social Security

Letters listing millions of Social Security “no-match” workers are ready to mail to employers.

The Immigration and Customs Enforcement agency personnel are trained and ready. Buses and vans are standing by for raids. Detention facilities have expanded.

All that is lacking is clearance from the courts.

Employers should be prepared in the coming months for immigration raids on scales never before staged by the federal government. The stakes for employers will be especially high if the courts give a green light to the mailing of Social Security no-match letters. Continue reading »

Tags: Detention, Government, Homeland Security, ICE, Immigration, Social Security

Nothing for Families and Retirees

If the move to a Unitary Executive of unfettered presidential power frightens you, America’s radical right turn to Unitary Finance should compound your fears–and your debts as well. The financial events of the last two weeks of March 2008 demonstrate that the “economic royalists” and “money changers” whom Franklin Delano Roosevelt (FDR) drove from the temple of finance have returned to mismanage our economy into dire straights of unprecedented risk–debt creation, euphemized as “leveraging” and “wealth creation.”

The few checks and balances that remain in the way of the financial sector’s increasingly centralized planning, especially at the state level, are being swept aside under the guise of “saving the system.” Few Wall Street beneficiaries who use this phrase explain just what the system is. For starters, its political managers are industry lobbies appointed to high managerial and planning positions in the public agencies that are supposed to regulate these industries. Their idea of financial planning is to put a trillion dollars in government agency funds and credit guarantees at risk. This agency funding was supposed to be used to help average American families obtain housing and health care, and to protect their savings and provide for their retirement. Instead, it is being mobilized to support the economy’s bankers and financial managers. Indeed, the past few weeks have seen seemingly trillions of dollars committed for war making and bank support.

The banking system’s free creation of credit, doubling each five years or so for the economy at large, threatens to culminate in debt peonage for many American families and also for industry and for state and local governments. The economic surplus is being quickly absorbed by a combination of debt service and government bailouts for creditors whose Ponzi schemes are collapsing right and left, from residential to commercial real estate and corporate takeover loans to foreign bubble-economy credit.

This is the context in which to view the past few weeks’ financial turmoil surrounding Bear Stearns, JPMorgan/Chase and the rapidly changing debt landscape. “The system” that the Treasury, Federal Reserve and the New Deal agencies captured by the Bush Administration is trying to save is an economy-wide Ponzi scheme. By that I mean that the business plan is for creditors to lend debtors enough money for them to pay the interest costs so as to keep current on their loans.

Super Imperialism - New Edition: The Origin and Fundamentals of U.S. World Dominance Continue reading »

Tags: bailout, banking system, Bear Stearns, bonds, Bush administration, Dollar, Fannie Mae, Federal Reserve, finance, Franklin Delano Roosevelt, Freddie Mac, Gamblers, Goldman Sachs, health insurance, Housing and Urban Development Agency, HUD, Inflation, insolvency, JPMorgan, Michael Hudson, Mortgages, OFHEO, Ponzi, real estate, rescue, Social Security, stocks, Treasury, Trillion, Unitary, Wall Street