Economic Meltdown: "The country will be wholly unprepared for the coming catastrophe."

[marmar]

from BlackAgendaReport:



Freedom Rider: Economic Meltdown
Wednesday, 05 March 2008
by BAR editor and senior columnist Margaret Kimberley

The dollar's implosion and the global banking spiral demand that Americans contemplate what was previously unthinkable: the toppling of the United States from its 60-plus years of economic dominance. The very idea of a greatly reduced U.S. world role is alien to most Americans, who "won't know what hit them when the hammer falls." Conditioned by a media that owes allegiance only to corporate owners, never to the truth, and believing that the U.S. is a "light unto the nations," much of the public find the looming economic meltdown inconceivable except in terms of "enemies" abroad. In a nation that increasingly produces nothing but weapons, "the response to the loss of domination will be more wars." Lack of a real social safety net ensures that "economic upheaval will create crime, family disruption and untold psychic damage" as Americans' most basic understandings of their country" are "shaken to the very core."

Freedom Rider: Economic Meltdown
by BAR editor and senior columnist Margaret Kimberley

"The country will be wholly unprepared for the coming catastrophe."

How will Americans react when their economy collapses? The story of the coming crisis is barely being told because the corporate media's information bubble gets thicker by the day. Very few people know or understand the depths of the coming crisis. There is talk of recession, and falling home prices, but there has been little if any explanation of the havoc that will be played out across the country when the day of reckoning comes.

Banks all over the world are taking "write downs" in the billions of dollars. In plain English, a write down is a loss. Not only are international investment banks losing money hand over fist, but the almighty dollar isn't so mighty anymore. Stores in New York City are accepting euros along with the greenback.

Humorous anecdotes of Manhattanites using euros are no longer funny. No nation on earth wants dollars anymore. Tourists can no longer use them at the Taj Mahal and oil rich Saudi princes would dump them if they could do so without hurting themselves. "My feeling is that the mere mention that OPEC countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries. There will be journalists who will seize on this point and we don't want the dollar to collapse instead of doing something good for OPEC." (*link saud)

"No nation on earth wants dollars anymore."

.......(more)

The complete piece is at: http://www.blackagendareport.com/index.php?option=com_content&task=view&id=547&Itemid=1

[MercutioATC]

1. Time to buy dry goods and ammunition.

...which is why I'm glad I took care of that about 3 years ago...

[Mojorabbit]

5. Don't forget the heirloom seeds. n/t

[MercutioATC]

14. I know...one of the few things I have yet to get.

They're on the list, though...

[earth mom]

37. Just ordered ours last night online. nt

[lazer47]

8. Now is not the time to bragg or make it known if they know you have it

they will surley try to take it..

[MercutioATC]

13. They'll have to find me first :)

...and, remember, I did say "ammunition"....

[Zywiec]

2. "No nation on earth wants dollars anymore."

I find that hard to believe. What would China and Europe do without our dollars?

:shrug:

[dbonds]

3. They are happier with Euros.

[Dhalgren]

4. Be forced to buy toilette paper?

:shrug:

[Zywiec]

10. Toilette paper? is that like Eau de Toilette??

:shrug:

[Dhalgren]

12. Well we are speaking Europe, no? And in beautiful France, that is

the way one would spell the word. Thank god for France! If it weren't for the French bailing us out, we'd be speaking English today!

[LiberalEsto]

6. I'll take 'em

if nobody else wants 'em.

[MadMaddie]

29. One reason Sadam was attacked is because he was going to

switch the Iraqi oil trades from the dollar to the Euro....

If this country goes into a spiral I believe that the administration and anyone associated with the administration over the last 7 years must be prosecuted for crimes against this country. No matter if it was sheer incompetence or deliberate criminal activity they intentionally damaged the government for their own political and financial gain.

[SpiralHawk]

7. Thanks a pantload, republicons

This Massive Failure is all your greedy, corrupt doing...

And no matter how much you lie and propagandize about it, Americans know you for the corrupt screw-ups you are...

[malaise]

11. Meanwhile M$M tells us that John MCSameasBush

has a good chance of winning.

[dysfunctional press]

18. both political parties and the populace at large are equally guilty.

we bought into the idea of using overseas slave/prison labor to make our stuff, so that we could save a few bucks- and it's meant the decimation of our manufacturing base and our economy.

[superkia]

23. Whats more dangerous to our country than the people that...

don't know that most republicans are corrupt? Those who think its only one side, the wolf wearing the sheep costume will bite all of us in the ass if we continue to think that this is a PARTY problem...This is a government problem, and its a problem for the people, not the government.

[Turbineguy]

9. I wonder why this outfit

uses a private by proxy domain in order to hide behind?

Just askin'

[KamaAina]

15. Come to think of it, what exactly is "Black Agenda Report", anyway?

and just who is this "editor and senior columnist" Margaret Kimberley? :tinfoilhat:

[BeHereNow]

16. She is a respected journalist/commentator- her bio:

Senior Columnist & Editor Margaret Kimberley

Margaret Kimberley is a New York based writer and activist for peace and justice issues. She has been a columnist for Black Agenda Report since its inception, and was for four years the weekly columnist for Black Commentator. Her work has also appeared in the Dallas Morning News, the Chicago Defender, and on web sites such as Alternet, Counter Punch, Tom Paine and Buzzflash.

Ms. Kimberley is a member of the War Resisters League speakers bureau, Stop the Merchants of Death (SMOD.) SMOD speakers are committed to informing the public about corporate connections to American military activity, especially the occupation of Iraq. She is also a member of Clergy and Laity Concerned About Iraq. In 2006 Ms. Kimberley moderated a forum entitled, "People of Faith for Peace and Justice." The forum addressed the need for politically progressive Christians to have a greater voice in public policy debates.

Margaret Kimberley has spoken at Riverside Church in New York City, at seminars hosted by the General Board of Global Ministries of the United Methodist Church, and to student groups at institutions such as Mount Holyoke College and Drew University. Ms. Kimberley has also been a guest on radio talk shows around the country.

(Black Agenda branched with founders of the Black Commentator.)

And she is 100% right about the economic abyss we are about to fall into.
BHN

[Turbineguy]

21. Great.

With all the doom and gloom lately, it sometimes becomes too much.

[paulk]

36. "Alternet, Counter Punch, Tom Paine and Buzzflash".

wow. that's impressive.

:eyes:

[Karenina]

22. Your ignorant arrogance is showing.

:eyes:

[Pale Blue Dot]

19. Don't worry about anything other than the "private by proxy domain".

That way, you can safely continue to ignore the conclusions and ignore the evidence that they are right.

[dysfunctional press]

17. we're ALL guilty, and we deserve what's coming.

when our country decided it was okay to use overseas slave/prison labor to build our toys and trinkets, appliances and everything else because we could save a few bucks and accumulate more stuff, the die was cast.

we did it to ourselves.

[BeHereNow]

20. Yup and Yup.

Americans are, on the whole, a rather silly lot.
BHN

[blues90]

25. Absolutely true and sad as it is .

I questioned the idea of why things I got seemed to be always made anywhere other than america but really had no idea what sort of conditions these things were made under . I had no idea that this would spin out of control so rapidly .

It's not like there was some sort of media out there waving a flag saying , look at this , look what we are doing here people . Oh , yes there were books of wise words who have warned us and old black and white TV that flickered the message here and there .

I knew when the box stores began to sprout up from the earth faster than a MJ seed . I knew full well where this was headed and backed away from all of this .

It was not long before all the independent shops either vanished altogether or were forced to buy the same crap just to keep their doors open .

There are those who tried to resist this as consumers but there seemed no way to stop this when the cheap prices cried out louder than the conscience could bare , the majority gave in , willfully and ignorantly gave in .

[BeHereNow]

26. The box stores... evil incarnate.

Over here, near where I live, is one of the best kept secrets in
corporate military industrial complex history.

Lockheed left TWO massive waste dumps here-
At one time, there was much publicity in the
local paper about "clean-up" bids- then NOTHING.
Absolute silence.
Lockheed settled in a class action with several residents.
No more news about it.

Meanwhile- on the toxic waste dump sites?

A Home Depot was built on one.
A large corporate shopping center on the other.

I would guess the employees on both locations
will all be glowing or dead within ten years.

Bastards. All of them; the corporate fuckers.

BHN

[blues90]

30. Remember not to long ago there were homes for elderly

Built on toxic waste sites . I can't recall where this was at the moment it may have been Florida but they were retirement communities .

About a month ago my wife asked me when I was out to stop at a carls jr . I did at the drive through . I looked up just above the window and facing out was a sign that went something like this .

( This area is known to have chemicals known to the state of california that can cause cancer and birth defects .)

I drove off , I have seen these in garages but at a fast food store . I know there used to be a gas station on this lot years ago .

I don't know what the chemicals are in , and know no one there could tell me but if this is not an indication of just how far off things have become then what is .

Oh the sign hangs there just above the eye where no one would look but it must pass the test of (being there) and that's good enough for the toxic control police .

One wonders what ever became of all the stories of what were called sick buildings . I guess they were all cleaned up and all is well nothing here to breath that will kill you , just try not to breath to deep .

[BeHereNow]

32. Basically, we are fucked. There are no safe guards- only corporate profiteers.

Truth is, they want as many of us dead as possible.
They know the planet can not sustain us.

BHN

[blues90]

33. We definitely are FUCKED !

People talk about growing a garden which sounds fine and friendly and the thing to do to sustain one self either for the pleasure or saving money or stocking up for the BLAST .

However when the mind begins to work over time and goes through the process of examination even though if we wrote about these thought's we would be netted and taken away we take this on .

Then it builds and kicks in with a visual of plastic bags filled with potting soil and some poor soul with a lead based shovel filling bags of toxic earth and little bits of styrofoam touted as good stuff . Then the mind moves onto the hose used for watering and then the shock sets in , my god , where did the bag come from , what was it used for before ! Jesus ! You search desperately for the cardboard hose label and find out the contends and where it came from . The entire idea of the home grown garden sort of loses it's charm .

[kenfrequed]

24. Ah..

But without the utterly voracious consumer market of the US the economic structures of the world will start to collapse....misery and company and what not.

[lonestarnot]

27. Citi Bank $31 billion some whiner just said if Bernake has his way with mortage salvages.

[aint_no_life_nowhere]

28. I hope whoever wins the Presidency can do something about the falling dollar

It's amazing that we keep hearing how Americans don't save enough and should set more of their income aside. What sense does that make when every time we save a dollar, it keeps shrinking in value? I hope something can be done to turn the tide, if in fact anything can be done at this point.

[Turbineguy]

31. You are obviously not with the program here.

it goes like this: We want the economy to collapse. We want starvation and misery. Then we can blame the republicans. Just to see the look on Bush's face. It will all be worth it.:sarcasm:

I was hoping that last part wouldn't be necessary, but one never knows.

[lonestarnot]

35. Saving is so easy these days, and I suggest you keep it in your

mattress. :sarcasm:

[lonestarnot]

34. One world currency around the corner.

Waiting and watching.

[earth mom]

38. How many of us have been saying that around here? The Amero is the goal of * & Co.

Then one world currency.

Wake Up America! All of this is intentional so those bastard criminals can destroy the U.S. and shred the Constitution for good. :grr:

[Art_from_Ark]

39. There's absolutely nothing wrong or embarassing

about New York merchants accepting euros. It's no big deal for major tourist destinations in other countries to accept easily convertible currencies from major tourist source countries. For that matter, they've been accepting Japanese yen at lots of Honolulu establishments for years. It actually makes good business sense, since it might convince some foreign tourists to spend some of their home country currency that they hadn't converted and weren't planning to spend.

Besides, what difference does it make whether a tourist exchanges their foreign currency at a foreign exchange window, or spends it directly at a shop? If it's spent at a shop, most of it ends up getting converted anyway.