< HOME  Friday, November 25, 2005

The American Economy Has Left The Building

Richard Sauder's reaction to the announcement of GM's layoffs is almost identical to my own. I have emphasized in bold italics the portions that are particularly important.
"The news of the 30,000 jobs that General Motors recently announced it plans to cut caught my attention like a searing brand plunged deep into my mind."
"[T}he United States ... is rapidly deindustrializing, in large degree as a consequence of ... so-called Free Trade agreements ... such as NAFTA, CAFTA and the WTO which have made capital and entire industries very portable internationally, to the considerable detriment of workers at home and abroad."
"[S]ociopaths are running most of the major governments of the world, and most of the major industries and financial institutions, and sociopaths are not much interested in mutual uplift and global benefit for the great bulk of the human race . . . [they] are primarily interested in war, plunder, destruction, cruel domination, violent subjugation, and ruthless social control."
"Essentially, the entire nation is in hock. We've been pawned."
"We are already exporting astronomical quantities of American currency, and millions of jobs to go with the big bucks. The printing presses are running madly 24/7 the year around. The American government, allied with the high finance sector of the economy, has conspired to sell us out to the highest bidders"
"[T]he United States is positively awash in a tsunami of imported merchandise...the captains of American industry destroy the country from within, ransacking the economy, plundering entire industries and communities as they loot the productive base of the country for their own personal enrichment, without the slightest thought for the well-being of anyone else at all. . . the psychopaths and sociopaths in the ... government and in high finance ... liquidate the country from under our feet..."
"Their behavior is like that of madmen ... who heat the house in the cruel depths of a bone-chilling ... winter by stripping the insulation out of the walls and using it to stoke the furnace! As the flames leap higher they strip the shingles and plywood off the roof and fling them into the furnace!! ... they fling back the blankets ... rip the paneling off of the walls, tear up the floor boards and take an axe to the furniture and feed it all to the devouring flames in the furnace."
They belittled [Ross Perot's] warning that the "sucking sound" they were about to hear would be the sound of ... capital and jobs [being] leached out of the American economy...but [they] didn't like him ... so they tossed him aside. So much to plunder; so much to loot -- and so little time!!
"The American economy, like Elvis, has left the building...the bleeding of jobs, money and industries just goes on and on. We are living in a country in steep and rapid decline.
I rest my case. We can't both be wrong in our assessment of what's happening. But, I would argue that underneath the surface of those trade agreements fractional reserve financing at INTEREST is primarily to blame for the multi-national economic devastation that we are witnessing today, along with a number of corrupt greedy dictators willing to sell their people for a paltry price.


At Monday, November 28, 2005, Anonymous Anonymous said...

I enjoyed the full article, and I found the analogy of the couple trying to heat the house with the house very humorous.

Only he's make a critical mistake. He lays a huge assumption on the fictitious couple. The assumption is that they want to keep a house and keep it warm. What if all they want to do is build a fire? Well then they would tear their house down and find someone else's house to tear down in order to build that fire.

This is the stage that modern day capitalism (i'll coin the term Vulture Capitalism, patent pending!) has brought GM, et al. It is no longer about finding jobs and keeping jobs for Americans. It's no longer about building quality cars. It's no longer about American pride. It's about making profits--keeping that fire burning.

It doesn't matter that the house is gone, or that you cant play with the kids anymore. Vulture Capitalists don't care about GM, America, or Americans. They have to turn a larger profit than they did the year before.

At Friday, December 09, 2005, Blogger qrswave said...

Thanks for your comment.

You're not the only one to use the term vulture capitalists; I used it before at the Mises Blog...;)

Anyway, their selfish disregard for others is typical of people who lend at interest who are, more often than not, behind VC.

You should read my post on the difference between lending-at-interest and equity investing and stay tuned for my analysis of vulture capitalists.


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