This will be my last post of the horrible year that was 2008. I wish everybody a Happy New Year and a good time with their family. Unfortunately, there is an even worse year heading our way.
This year was the year when the bloom came off the rose that was the U.S. This year many believers in America were shaking their head as things continued to worsen quickly. So quickly, that a way too racist nation elected their first black President. This is the one bright spot for 2008, but Obama, contrary to what right wing talk shows say, is no Messiah.
Next year will usher in not only a severe depression but the realization by most everybody that this is not going to turn around quickly. There will probably be lawlessness in the streets as people who never thought it would happen to them lose homes, jobs, and cannot even get food.
It will get much worse than people expect. How bad it gets will depend on what help politicians offer. The sooner politicians employ caring for all the people, no matter the consequences, the sooner things will bottom. The longer they embrace the “free enterprise” bullshit that has caused all of these problems, the longer this is going to last. Politicians have already made serious errors trying to preserve the America capitalistic system by squandering $BILLIONS bailout out the rich.
The U.S. financial system which is based on selfishness and greed has to come to an end but this will be a painful process. Eventually, it may usher in a new America that will have compassion toward all people. However, this is likely going to take a long time and there will be much pain along the way.
For young people there may be a new day, but for baby boomers their best days have gone forever. Sure, they are not only getting older but all of their basic assumptions about retirement are gone. However, as baby boomers are disrespected to the horrible consequences of decades of greed, there will be a new message for a new America. Unfortunately, there is going to be so much pain first.
America is doomed.
Wal-Mart has surprisingly settled dozens of lawsuits about wage practices because it is afraid of what is going to happen in an Obama administration. This is great news and shows the power of electing a democratic administration.
Wal-Mart is a good barometer of the labor movement in the country. Wal-Mart has a long history of abusing employees by making them skip meals and work “off the clock”. There have also been documentation of discrimination in promotions, and union busting.
Wal-Mart has a long history of scaring employees to not vote for Democrats, not to organize into unions, and not to complain about working conditions. Wal-Mart calls their employees “associates” but it should call them “slaves”. Wal-Mart not only pays their worker poorly but they also explain to newly hired workers how to apply for social programs. The health care is so expensive that ordinary workers cannot afford it. As a result, most Wal-Mart employees have little, if any, health care.
There is an excellent film detailing Wal-Mart’s abuse of employees and how the U.S. government and taxpayers subsidize Wal-Mart.
Also, Wal-Mart stocks its stores with products that are not made in the U.S. — most notably from China. Thus, as Americans shop at Wal-Mart they are destroying U.S. industries.
America is doomed.
An article in the Wall Street Journal declares China is the winner. Amazing, that the Wall Street Journal could have been writing this blog.
The U.S. financial system is seen as having failed.
China has little debt. It’s currency will likely be the reserve currency at some point in the future. During this financial crisis, the worse that will happen to China is that it will grow slower — no real recession there.
China also considers their system “managed mercantilism” which is just another way of saying socialistic capitalism. That is, the basic belief that capitalism does not work if left to its inherent greed and corruption. Instead, basic living is provided by the state and some free enterprise still exist. Marx wouldn’t be happy because China is no “Paris Commune”; yet, it may be a good start.
Also look to China for expanding its global influence because it will have money to spend to help other countries. Money, by the way, that use to belong to the U.S. until the greed and corruption destroyed it.
America is doomed.
Turns out a bigger threat than terrorism is the fraud and corruption that is the U.S. economic system as FBI agents are diverted to investigate. I have said many times that terrorism can’t begin to compete with the normal corruption that is prevalent in America by Americans. Some of those corrupt Americans have literally sworn oaths to support the Constitution. But, if you are willing to steal, why does it matter what you swear to do?
“We have to work those cases which we think pose the greatest threat,” he said. “In this case, it’s a threat to the financial system and Wall Street.”
This greed and corruption, some based on political influence, is based on the desire to acquire more and more money as many America suffers with poverty wages, poor health care, foreclosures, and risk of homelessness. Don’t raise the minimum wage and certainly don’t consider a living wage; instead, let executives and politicians literally steal from the taxpayers. Lower taxes for the rich because you just can’t have too many cars or yachts. It’s a new form of Darwinism — instead of “survival of the fittest,” it is “survival of the crookedest”.
After the crooked deeds are done, don’t even consider holding anybody responsible:
For the sake of national security and national unity, President-elect Barack Obama should put a stop to efforts to investigate or prosecute Bush administration officials for anti-terror “war crimes.” The motive behind such efforts is not — as claimed — “truth” or “justice,” but political vengeance.
Don’t believe that next year is going to get better, because next year there will be more layoffs, smaller salaries, less social programs, less food for the poor, plenty of war, and more homelessness. And the year after that will suck also. This is America — the home of the “I’ve got mine and fuck everybody else” mentality.
America is doomed.
The U.S. dollar has been the global reserve currency for many years. This was offered the advantage of a relatively stable monetary system for the U.S. However, the U.S. is pissing this all away with its irresponsible fiscal policies.
As the U.S. continues to print more and more money, it will stress other countries in the world into buying U.S. dollars. Countries need to buy our dollars because it is the reserve currencies and products, like oil, are priced in U.S. dollars.
It is surprising that Opec did not dump pricing oil in U.S. dollars for something else — perhaps the Japanese Yen or Euro. Probably because the Bush administration was considered war mongers and would just invade other countries. If Opec did price oil in something other than U.S. dollars, the U.S. dollar would crash as the world started selling dollars, by the boat load.
It seems virtually certain that the U.S. dollar cannot sustain being the reserve currency with the amount of annual deficits, national debt, and zero interest rates. Also, now that Republicans are out of office and Democrats are much less interested in oil wars, like Iraq, it might be an excellent time to dump the U.S. dollar.
The dollar has been weaker recently because the Federal Reserve lowered interest rates to zero. It is impressive that the U.S. dollar has held up as well as it has but this is only because oil and other commodities are priced in U.S. dollars. The world is just not going to be able to take pricing critical commodities in an unstable currency for much longer.
If the U.S. dollar stopped being the reserve currency then the U.S. would have to buy, let’s say Euros, in order to buy oil and do international trade. Meanwhile, the rest of the world would be dumping U.S. dollars in mass. Even the hint of dumping the U.S. dollar would crush it as investors would dump U.S. dollars.
America is doomed.
