Wednesday, July 27, 2011

THE FUTURE’S UNCERTAIN AND THE END IS ALWAYS NEAR













All I can say is that is a cool piece of analysis by Mike Davis…

“Let me reprise the obvious, but seldom discussed. Even if debt-limit doomsday is averted, Obama has already hocked the farm and sold the kids. With breathtaking contempt for the liberal wing of his own party, he’s offered to put the sacrosanct remnant of the New Deal safety net on the auction bloc to appease a hypothetical “center” and win reelection at any price. (Dick Nixon, old socialist, where are you now that we need you?) As a result, like the Phoenicians in the Bible, we’ll sacrifice our children (and their schoolteachers) to Moloch, now called Deficit. The bloodbath in the public sector, together with an abrupt shutoff of unemployment benefits, will negatively multiply through the demand side of the economy until joblessness is in teenage digits and Lady Gaga is singing “Brother, Can You Spare a Dime?” Lest we forget, we also live in a globalized economy where Americans are consumers of the last resort and the dollar is still the safe haven for the planet’s hoarded surplus value. The new recession that the Republicans are engineering with such impunity will instantly put into doubt all three pillars of McWorld, each already shakier than generally imagined: American consumption, European stability, and Chinese growth. Across the Atlantic, the European Union is demonstrating that it is exclusively a union of big banks and mega-creditors, grimly determined to make the Greeks sell off the Parthenon and the Irish emigrate to Australia. One doesn’t have to be a Keynesian to know that, should this happen, the winds will only blow colder thereafter. (If German jobs have so far been saved, it is only because China and the other BRICs -- Brazil, Russia, and India -- have been buying so many machine tools and Mercedes.)” (Click here for the whole thing)

Click her for Nico

The secret word is Lemming

5 comments:

mrjohn said...

who gives a fuck about the USA? seriously, children die from malnutrition every day all over the world

Aleleeinn said...

And in the USA too. It just isn't talked about. But an Taoist saying goes: "You can't pick a flower without disturbing the satrs." and that's the problem with the USA. India and China will feel the pain of a USA debt crisis. We will not be able to buy their goods, and not be able to repay the debt. So China's & India's economies go sour. Now all those US & Euro investors will take a big hit too.
Just like the USA mortgage crisis this will topple an even bigger house of cards. Social Security is only part of the problem. All that money that people have saved will tank again. And tere will be no market for the gold either.
To qoute an old American revolutionary: "We must hang together or we will all hang separately."

Aleleeinn said...

I know that song reference in the title as well as I know my name, but DAMN I forgot the song. "I woke up this morning and I got myself a beer..."

Mick said...

It's "Roadhouse Blues"

http://www.youtube.com/watch?v=mJ9GDiYU0-I

Aleleeinn said...

Yeah, Thanks! Got BOC and STP both doing it live with Kreiger. Robbie can play guitar. Morrison's support for his was well justified.