United Socialist State Republic of America
Former White House economist Nouriel Roubini, who forecast the current financial storm two years ago, has a harsher verdict. He says the USA is turning into the "United Socialist State Republic of America." When other nations were in the same financial bind as America is today, we told them to suck it up and let the markets dictate what needs to be done. And now?
Now that the shoe is on the other foot, we're telling a differernt story.
The American capitalistic society is now dead. We're no longer a free market nation. Get in trouble and America will come to your rescue- unless you're a Jewish corporation. Sorry Lehman Brothers, it's bankruptcy for you- you're on your own. What's up with that? :-(
America has BILLION for a Fannie Mae and Freddie Mack buy out. America has whatever is needed ($85,000,000,000) to rescue AIG. America has $29,000,000,000 of taxpayer money at risk to facilitate JPMorgan Chase's (JPC) acquisition of investment bank Bear Stearns. And now our government is going to GUARANTEE all losses. Get in trouble and the government will bail you out- if they like you.
The cost of bailing out our economy will top $1,000,000,000,000.00! That's a "T" as in TRILLION!
Throughout more than a decade of recurrent crises in nations such as Mexico, Russia and Thailand, the United States offered the same advice: Let the market solve the problem and get the government out of the way. Even when the consequences of such economic "tough love" included widespread joblessness, soaring poverty and domestic turmoil, Washington insisted on the rule that the market knew best.
And now we're not following that rule?
So much for integrity. Do as WE SAY and not as WE DO!
Related Tags: bush, lehman brothers, bear stearns, fannie mae, aig, freddie mack, united socialist state republic of america, free economy, capitalistic society
As a spiritual-futurist, I interpret current events in light of possible macro-universal forces at play leading up to 2012, but not limited to it.
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