Wednesday, November 26, 2008

Wednesday, November 26

Ralph Nader presciently writes about The Third Clinton Administration. "The signs are amassing that Barack Obama put a political con job over on the American people. He is now daily buying into the entrenched military-industrial complex that President Eisenhower warned Americans about in his farewell address. With Robert Rubin on his side during his first photo opportunity after the election, he signaled to Wall Street that his vote for the $750 billion bailout of those speculators and crooks was no fluke (Rubin was Clinton’s financial deregulation architect in 1999 as Secretary of the Treasury before he became one of the hugely paid co-directors tanking Citigroup.)" Is Obama trying to reconstruct the economy on a base of sand?

Robert Scheer agrees that Obama sided with Wall Street instead of Main Street. Previously he had engaged Nader in vigorous debate against this idea. Hopefully reality will awaken more Obama zealots that it did with Bush zealots.

My biggest concern about Obama is not a third incarnation of the Clinton administration (though it will be much worse without any effective Republican opposition). It is the parallels with Germany of the 1930's and where that led. We're in 1932-33 now. Others agree. A big push for so-called "hate crimes" legislation is an ominous sign. Laws against "hate speech" will follow. That's just the beginning of his add-ons to the Bush police state.

Still very, very puzzling that the MainStreamMedia is ignoring the story questioning Obama's actual legal status to be President. (The Christian Science Monitor seems to be an exception.) OK, so it isn't puzzling. Not because the story is not valid, but because the term "MainStreamMedia" says it all. Our "free" media is no more free on the big questions than the obviously state-controlled media in Russia, China and elsewhere. It is the same reason why Ron Paul can't get any traction in the media, and Obama can seemingly come from nowhere to get elected. One lawyer promises to file a lawsuit against all Obama directives until the citizenship issue is resolved.

Justin Raimondo writes about the remarkable connection between "The Bailout, the Media, and the War Party." GE, which owns NBC and MSNBC among others, is now a bailout recipient. GE also produces expensive military weapons systems. Will they bite the hand that feeds them? "With the government in control of the commanding heights of the American economy – the financial sector, which, like GE, has its tentacles wrapped around the communications industry – the difference between private and state-controlled media is near abolition. . . . If the government is now buying "shares" in the corporate owners of the major news outlets, then how close are we to some place like Russia, for instance, where the line between economy and state hardly exists and the major media dutifully spout the Kremlin line?"

The US Government has now pledged at least $7.7 trillion to bail out the economy. They might toss a bone to actual consumers instead of powerful banks and corporations. Obama's financial appointments are full of foxes guarding the hen house. The massive looting of America at the highest levels will continue. Where's that money coming from? Is it any wonder that books on the Weimar Republic are popular right now in Washington? Hyperinflation is cooked into the economy now. Prepare for it.

You might want to see a comparison of the bailout to other famous big budget expenditures in US history. Jim Rogers believes that devaluation of the dollar is policy, that the fear-based dollar rally will end shortly after the new year, and that commodities are the best buys for money.

Speaking of bailouts, why is Ford asking for one when they can produce cars at plants like this one in rural Brazil?

A leading Russian financial analyst sees the decline and financial collapse in the US leading to a breakup of the country into at least six regions. Within a year or two he sees the Amero replacing the dollar. Apparently, the financial system came close to collapsing on November 21, when Citigroup was effectively nationalized. We may well see a bank "holiday" shortly after Obama is inaugurated, if not before. Be sure to keep a month's worth of cash stashed.

With all this increasing socialism abounding, let's not forget that it was socialism and communism among the early Puritans that left them starving. It was the switch to capitalism that saved them. It seems that incentives work better than good intentions.

Last Saturday the first nationwide "End the Fed" rallies were held in 39 different states. Fiat money really is the root of all evil. I was priveleged to speak at the Oklahoma City rally. See here , here, here, and here.

For something interesting and off-beat, check out "Giants of the Old World." And it has long been discussed whether mammograms actually promote breast cancer. Worth thinking about.

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