The glare of unvarnished truth....

[dixiegrrrrl]

"The massive bailouts, stimulus packages, giveaways and short-term debt, along with imperial wars we can no longer afford, will leave the United States struggling to finance nearly $5 trillion in debt this year. This will require Washington to auction off about $96 billion in debt a week.
Once China and the oil-rich states walk away from our debt, which one day has to happen, the Federal Reserve will become the buyer of last resort. The Fed has printed perhaps as much as two trillion new dollars in the last two years, and buying this much new debt will see it, in effect, print trillions more. This is when inflation, and most likely hyperinflation, will turn the dollar into junk. And at that point the entire system breaks down."

From a recent article by Chris Hedges. Worth every minute of reading.The economic part is about halfway down.

http://www.alternet.org/media/146005/we_stand_on_the_cusp_of_one_of_humanity%27s_most_dangerous_moments

[Ozymanithrax]

1. The end of emipre is going to suck...

And it will likly suck for years.

[havocmom]

2. meh, not for the multi-national corporations who fucked, then cast aside the US to build their own

[Ozymanithrax]

7. I'm not a multi-national corporation.

Globalism and the rise to multi-national corporations have crated a global class of people, who can go anywhere and work. The target of these business are the global class. They sell in India, China, Dubai, Israel, Germany, U.S.A., and anywhere to make a buck, and will move away from laws that limit them.

It does not matter to these groups who the top dog might be. They sell a service or a product, and will sell it to all sides.

I am not a member of the global class. I'm stuck here. It will suck.....

[Warpy]

5. It will if the gummint doesn't wake up fast enough

to start yielding Empire the way many European states did. Oh, we don't technically own other countries, we just have something like 700+ bases around the globe. We need to start shutting them down and retreating back within our borders, keeping treaties with host countries that might or might not be enforceable in a crisis but one always hopes. We need to chop down that Pentagon budget and we need to do it rather quickly. Ending the war in Iraq and winding down Afghanistan is only the beginning.

Empire has got to go. It's a rich man's dream and the rich man has ducked paying its cost for the last 30 years. That's why our economy is in the toilet. Obviously the progressive income tax structure needs to come back in order to start freeing seed money for the infrastructure improvements the next wave of domestic industry will need, industry that will become attractive once Empire no longer assures "free trade" without fair trade with the third world.

It's all of a piece, Empire overburdening working people with its massive cost while Empire robs working people of good jobs that paid all the bills.

Empire is what has to go.

[Ozymanithrax]

9. All empires go through catastrophic economic crises at the fall.

This is true of them all. The perks of economic dominance are immense. Just one thing in the U.S. empire, the dollar as the global reserve currency, guaranteed that we would have the most vibrant economy for 50 years. The U.S. could, literally, print as much money as it wanted and other countries gobbled up the excess dollars. Having the reserve currency was a buttress at Wiemar Republic style inflation.

We were also the big player in an entire civilization dominated by oil. We used the lion share of oil and at unnaturally cheap prices for decades. Peak oil, and the rise of other power willing to challenge that dominance, ended cheap oil.

All this stuff is coming apart at the same time. Depending on how quickly it unravels will determine how bad it gets.

But it will be those of us who live here in this economy that suffer.

[kestrel91316]

3. Of course we could always just stop with the wars..........

[Name removed]

10. Deleted message

Message removed by moderator. Click here to review the message board rules.

[kestrel91316]

12. You support not a single Democrat or Democratic action from what I have seen.

Why is that, I wonder? You might want to review basic DU rules.

This is still DEMOCRATIC Underground, and disagreeing with every single thing they do is not cool.

[shraby]

4. I would like to know why the unvarnished truth is thrown at

us from every dark corner now when a little over a year ago before Obama took office and the country was still on Bush's watch, everything was hunky dory. Amazing how far in the shitter we can go in just a year and a couple of months with nobody noticing before then..wow.

[Xipe Totec]

6. I wish I could recommend this reply nt

[dixiegrrrrl]

8. I wasn't aware things were hunky-dory on Bush's watch.

Even as well hidden as that Admin. tried to keep stuff, there was plenty of crap to notice.
Of course, only the Dems were yelling then.
Now it seems both parties are complaining.
but not about the REAL stuff....they are just feeding the smoke screens.

The REAL stuff is
"A society that no longer recognizes that nature and human life have a sacred dimension, an intrinsic value beyond monetary value, commits collective suicide. Such societies cannibalize themselves until they die. This is what we are undergoing."

All this highly publicized infighting over the next outrageous thing that Beck or Palin or Maulkin can say, serves to keep us too divided to see the real problem.

[sendero]

13. Uh, no...

...... you are completely off base.

But hey, everyone knows and polls still show that they know that this debacle is mostly the creation of Republican policies.

However, Obama has done fuck-all to fix things so he's about to inherit the blame in totality. So, it' all good.

[my2sense]

11. +1