"The U.S. economy has been skyjacked" -Craig R. Smith
How United State of America Destroyed the World in a Decade?
For the past decade, the U.S. government navigated the treacherous waters of a collapsing economy with its printing press. Many cite GLOBAL MELTDOWN I in 2008 as the commencement of its economic malaise, but that is simply not the case.
THIS is what actually happened, all in a measly decade…
America’s FINAL era of prosperity ended with the Tech Wreck of 2000, yielding the first major recession since the Greenspan-led Fed started juicing the money supply in the late 1980s. Pandora’s Box officially opened when Glass-Steagall was repealed in 1999, urging banks to create dangerous investment products, and investors to take the bait. Allowing commercial banks to invent risky investments was like allowing Dr. Jekyll into a lab, an intoxicating opportunity to create “free money” by experimenting with financial fire. Even the world’s “leading minds” believed the internet would render WORK obsolete and WEALTH ubiquitous, a fitting end to a period in which the Eastern Hemisphere was handed a century’s worth of U.S. manufacturing jobs. Most of them by U.S. companies themselves, VOLUNTARILY, by the way.
To wit, General Electric, ‘America’s greatest company,’ at least before Apple emerged as the smart phone king of the world. Over the past decade, GE has shed 34,000 U.S.-based jobs, while adding 25,000 overseas. More than half its employees are now internationally-based, a percentage expected to continue climbing. In 2010, GE’s $5.1 billion of U.S.-based profit was not only untaxed, but the firm received a $3.3 billion tax REFUND. To add insult to injury, GE was BAILED OUT from sure bankruptcy in 2009 by a COVERT U.S. government bailout, fronted by its favorite propaganda puppet, Warren Buffett. Those losses were 100% due to DERIVATIVES EXPOSURE via its toxic finance unit, GE Capital, and you can be sure GE Cap will be back in the news when the derivatives monster consumes its next meal.
After the Tech Wreck, the U.S. was faced with a recession and, simultaneously, enormous secular job losses. The national debt had skyrocketed from $2.6 trillion when Alan Greenspan took over the Fed in 1987 to $5.6 trillion at the peak of the internet bubble in 2000, but no one was asking how that could occur if times were so “prosperous.” The reason, of course, was the dollar was peaking, and with it a frenzied period of borrowing and spending, ending the strongest era of American purchasing power in its history. The world thought the dollar was so strong due America’s “greatness”, when in fact it had more to do with the collapse of the Eastern Block than anything else. But Russia and Eastern Europe eventually recovered, and with their resurgence the ERA OF CHEAP COMMODITIES was over, FOREVER.
THIS is what actually happened, all in a measly decade…
America’s FINAL era of prosperity ended with the Tech Wreck of 2000, yielding the first major recession since the Greenspan-led Fed started juicing the money supply in the late 1980s. Pandora’s Box officially opened when Glass-Steagall was repealed in 1999, urging banks to create dangerous investment products, and investors to take the bait. Allowing commercial banks to invent risky investments was like allowing Dr. Jekyll into a lab, an intoxicating opportunity to create “free money” by experimenting with financial fire. Even the world’s “leading minds” believed the internet would render WORK obsolete and WEALTH ubiquitous, a fitting end to a period in which the Eastern Hemisphere was handed a century’s worth of U.S. manufacturing jobs. Most of them by U.S. companies themselves, VOLUNTARILY, by the way.
To wit, General Electric, ‘America’s greatest company,’ at least before Apple emerged as the smart phone king of the world. Over the past decade, GE has shed 34,000 U.S.-based jobs, while adding 25,000 overseas. More than half its employees are now internationally-based, a percentage expected to continue climbing. In 2010, GE’s $5.1 billion of U.S.-based profit was not only untaxed, but the firm received a $3.3 billion tax REFUND. To add insult to injury, GE was BAILED OUT from sure bankruptcy in 2009 by a COVERT U.S. government bailout, fronted by its favorite propaganda puppet, Warren Buffett. Those losses were 100% due to DERIVATIVES EXPOSURE via its toxic finance unit, GE Capital, and you can be sure GE Cap will be back in the news when the derivatives monster consumes its next meal.
After the Tech Wreck, the U.S. was faced with a recession and, simultaneously, enormous secular job losses. The national debt had skyrocketed from $2.6 trillion when Alan Greenspan took over the Fed in 1987 to $5.6 trillion at the peak of the internet bubble in 2000, but no one was asking how that could occur if times were so “prosperous.” The reason, of course, was the dollar was peaking, and with it a frenzied period of borrowing and spending, ending the strongest era of American purchasing power in its history. The world thought the dollar was so strong due America’s “greatness”, when in fact it had more to do with the collapse of the Eastern Block than anything else. But Russia and Eastern Europe eventually recovered, and with their resurgence the ERA OF CHEAP COMMODITIES was over, FOREVER.
1 comment:
united state of america eating the whole world economy & a toy of jewish loby such a damn u USA
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