Monday, October 24, 2005

New Fed Chief Will Be Foolish Bernanke


By Elaine Meinel Supkis

Professor Barnanke invented the "Global Glut" to explain why hostile foreign governments are offering us seemingly unlimited loans. He thinks they are doing this because America is a good investment. I say, they are setting a trap.

From the BBC:
Global banking chiefs have continued to welcome the nomination of Ben Bernanke to succeed Alan Greenspan as US Federal Reserve chairman.
If approved, Mr Bernanke is set to take over from Mr Greenspan early next year.

Bank of England governor Mervyn King said Mr Bernanke had the required "intellectual and personal qualities".

The European Central Bank (ECB) described Mr Bernanke as "a highly respected central banker and a remarkable economist".

"I will be happy to have the possibility to develop with him the same fruitful cooperation and enjoy the same confidence and friendly relationship that I had with Alan Greenspan," said ECB president Jean-Claude Trichet.
You bet, they are all overjoyed. The Greenspan mess is great for them. They, like our ruling class, want this gravy train to continue. Do remember, our ruling class hates America and despises American workers. Destroying these entities is top of their "to do" list. Making Americans weak, in debt, powerless, is highly important to them. This serfizing of America is a long term project. Already, they are getting us used to the idea that the lowest classes should be allowed to drown like rats.

They deliberately keep medical care from increasing numbers of Americans and intend to reduce it to zero eventually. Having deep in debt, helpless American workers die before they reach retirement age is a top priority with our rulers.

Bernanke is their front man. He lies about things in order to keep disasterous policies going. The sea of red ink is explained away by the astonishing notion that Russia which is killing off their workers, has a savings glut and thus needs to buy American government bonds. And China, with a billion peasants, has too much money and therefore needs to squirrel it away as American bonds. And that Japan is continuing to win WWII by buying our debts in huge amounts. They don't need the money, it is all extra! Today, I was astonished to read the yen is trading for 117+ for the dollar. We have a gaping trade deficit with them, the dollar is weak all over the place, we demand the yuan of China be more valuable and meanwhile, Bernanke and the US government is silent about this ridiculous set up in Japan! Guess what!

We had to go there, hat in hand, after Katrina, looking for more loans. So they were able to devalue their currency more so they can continue to destroy our economic base. Banzai!

Indeed, we are a dying empire surrounded by vultures picking us apart. The fact that we are conducting a fucking fire sale at a time when our cities are being ground into dust even as we are in the middle of a frantic house building binge....This is insanity. Just this week, we passed the $8 trillion dollar marker in government debt. Our trade deficit with the world is gigantic and growing greater each month. Japan, who won WWII which is why the Prime Minister is openly laughing at the many American dead from WWII by visiting the War Shrine and honoring the war criminals who attacked Pearl Harbor...Has ANYONE here heard a fucking PEEP from our traitors who are destroying America? Did Bush join the Chinese and Koreans, protesting this slap in our silly faces?

Why was he, why is our media, why is Bernanke silent about this?

The Japanese own America. The Chinese own America. If they aren't busy buying out our corporations and moving them out, they are buying them here and putting Americans on their payrolls and collecting the profit and paying taxes to their own countries! Duh!

I heard on NPR the astonishing story about how North Carolina is courting Chinese communist organizations to open factories in America paying less than $10 an hour building things our formerly unionized companies owned by Americans used to build: refrigerators and washing machines! And worse, the government in NC gave the Chinese a multimillion dollar tax break and millions in loan guarantees!

This is sheer insanity. The gov was happy because he got jobs for people! Toyota is openly complaining to other countries that they tire of their American subjects who they think are stupid and lazy and fat. They grouse that it is only due to the fact they need to keep this market safe that they "invest" in America.

Meanwhile, where is the VFW guys? Those flag waving idiots? Why do they sit there, drooling, while the Japanese honor Hirohito? Banzai!

On with the comedy!

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