Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

US in Economic and Political Crisis - Time For Plan B?

Politics / US Politics Nov 13, 2007 - 12:15 AM GMT

By: Richard_C_Cook

Politics

Best Financial Markets Analysis ArticleStrange events are taking place in the U.S.

By August 2007, a lot of very smart people were reading the tea leaves, convinced that the upper echelons of the U.S. government had their own hidden reasons for forecasting an event even more heinous than the attacks of September 11, 2001. President George W. Bush, Vice President Richard Cheney, and Secretary of the Department of Homeland Security Michael Chertoff had been hinting that another 9/11 could be coming.


Figures from the U.S. military had also projected a 9/11-type event. On April 23, 2006, for instance, the Washington Post published a statement by an unnamed Pentagon source that, “Another attack could create both a justification and an opportunity that is lacking today to retaliate against some known targets.”

9/11 was a turning point in history, and not just because it provided a pretext for the Bush administration to use off-the-shelf plans to invade Afghanistan and Iraq. The 9/11 Commission criticized the government for failing to do enough to act on danger signs that attacks may have been afoot. But a movement has formed which argues that the reality was worse—that 9/11 was an inside job staged to further the geopolitical ambitions of an elite seeking to use U.S. military power to advance its own imperialistic agenda.

What is indisputable is that from the 2000 presidential election through the 9/11 attacks and their aftermath, what New York Times columnist Paul Krugman termed a “revolutionary power” took control of the U.S. government.

Krugman's statement, contained in the introduction to his 2005 book The Great Unraveling , has not been taken seriously enough. George W. Bush had lost the popular vote to Al Gore but was named to office by a Supreme Court that rubber-stamped what Greg Palast and others have proven was an extended process of electoral fraud in Florida. The subsequent actions and policies of the Bush/Cheney administration have been in accord with its dubious beginnings.

From the emergence of the Neocons as an ideological power base dominant over U.S. foreign policy, to destruction wreaked on the Bill of Rights by illegal surveillance of citizens, to the senseless creation of the bureaucratically monstrous Department of Homeland Security and passage of the Patriot Acts, to the initiation of “wars of choice” leading to the devastation of two nations and the killing or displacement of perhaps a million Middle Eastern non-combatants, to violation of international treaties and conventions against wars of aggression and torture of prisoners, to presiding over an economy ruined by the continued export of manufacturing jobs and the creation and deflation of the housing bubble, to the wrecking of the federal budget by over a trillion dollars of wartime expenditure, to the abandonment of the city of New Orleans during and after Hurricane Katrina, to tax cuts for the most wealthy while the income of the middle class has drastically eroded, and to threats to start another war, this time against Iran, based on deceptions similar to those which preceded the Iraq invasion, the Bush/Cheney administration has brought the U.S. to the brink of catastrophe. 

What is now being asked is whether there was a plan that was to take place in September-October 2007 whereby the rest of the job would have been done. Speculation was that a nuclear device was to have been detonated in a U.S. city, perhaps one of the six attached to cruise missiles that were “inadvertently” carried by the Air Force B-52 bomber that flew from South Dakota to Louisiana just before Labor Day.

Check this link from the Arkansas Democrat Gazette for the official explanation of the incident:
http://www2.arkansasonline.com/news/2007/oct/19/air-force-punishes-70-accidental-nuclear-weapons-f/ .

According to the Air Force's report, the missiles were being mothballed due to “a treaty,” but ground personnel at Minot Air Force Base “grabbed the wrong ones” and loaded missiles with nuclear warheads by mistake.

Some have argued that these nukes were secretly bound for Iran to prepare for a nuclear attack on that country. But would such a Keystone Cops routine have been necessary to prepare for military action as a contingency to implement a possible decision coming from the highest political levels?

Suppose, on the other hand, that one of the nukes was targeted for a false-flag domestic attack, perhaps a city like Portland, Oregon, where military exercises simulating a major terrorist incident had been scheduled and where residents actually were warning each other to leave town.

Was the attack to trigger an economic collapse, leading as a side-effect to a payoff of billions of dollars for the placers of the “bin Laden bets” that were reportedly made in the financial markets anticipating a fifty percent decline in stock prices? Of course such an attack would be blamed on foreign terrorists. The trail of the explosion would be found to lead to Iran, resulting in war against that nation. Would the Constitution then have been suspended and martial law declared? Would citizens have been rounded up and herded into prison camps?

Such a scenario seems unfathomable, horrendous, even incredible. But it still may have been in character for a regime whose actions have led the world to view the U.S. as the greatest existing threat to peace. Rumors about such possible events have been churning on the internet for months. 

But the rumors have not been confined to “conspiracy theorists.” Regarding President Bush's commitment to the sanctity of constitutional processes, Congressman John Olver expressed the prevailing view in government circles when he told twenty of his constituents at a private meeting in Massachusetts on July 5, 2007, that he could not support a movement to impeach Bush. According to an attendee, the reason the Congressman gave was that, “The President would declare a national emergency, institute martial law, and suspend the 2008 elections.”

Therefore we might ask if it is true, as some sources have alleged, that the reason these events have not taken place was that there was a revolt by the U.S. military, which refused to carry out the false-flag attack that may have been intended?

What then has happened differently which indicates that events may have altered or postponed such a sinister denouement to the nightmare of the last seven years?

What has happened appears to be that the U.S. establishment has decided to move to “Plan B.” This may be defined as a decision that the sway of the Bush/Cheney regime must end and that some semblance of normality should be restored, at least in appearance, by making Hillary Clinton the next President.

Of course part and parcel of any Hillary Clinton presidency would be the presence and participation of her husband, former President Bill Clinton. We may rightly speak of “the Clintons” as a unit in this context.

The signs that Hillary Clinton is the President-designee have been appearing in droves. These include her rise in the polls, especially in Iowa, the emergence of an anti-Bush surge in the mega-media, especially on MSNBC, and the appointment of Democrats with ties to the Clintons at the Defense and Treasury Departments. Other signs include the emergence of a campaign by certain well-connected websites to keep tabs on pro-Neocon news commentators and offensives being launched against some particularly obnoxious right-wing media figures such as Bill O'Reilly and Rush Limbaugh.

The way Hillary Clinton is being portrayed in the mega-media is of decisive importance, because media-owning conglomerates such as GE, Viacom, and Disney serve the interests of the establishment, not the public. Nothing makes it to the airwaves without the approval of the financial interests which control these giants. Also decisive was the appearance of Hillary and Bill on the cover of the October 6 edition of The Economist, long the keystone publication of the Anglo-American international financial empire.

The Washington Post , another establishment house organ, has noted that Hillary herself is couching her election in terms of “when, not if.” The theme she is projecting is that of an anointed insider calling for “national unity.” For this she is being duly attacked by her competitors, most notably John Edwards.

The best example of how the mega-media is telegraphing establishment intent was Chris Mathews' lead story on Hardball on Monday night, November 5, which displayed MSNBC's “Power Rankings” for presidential candidates. The segment began with an adulatory profile of Hillary's campaign. Mathews then set a record for premature declaration of victory by predicting her as “the most likely winner of the Democratic nomination and presidential election” a full year before the election is even to take place.

Mathews repeated his judgment several times in what was obviously rehearsed language, even as the members of his three-person panel of commentators were trying in vain to raise objections, including the view that Hillary might not even win the Iowa caucuses or the New Hampshire primary. Mathews repeatedly overrode his own experts with his insistence that Hillary was the MSMBC pick. 

Oh yes, we will have the formality of a presidential election. Doubtless some fur will fly, because Hillary will always be the Clinton the right-wing most loves to hate. So we won't see a coronation.

It is certain, however, that the current regime will exact a price for accepting at least temporary defeat. So far the price seems to be agreement by Hillary Clinton that the conquest of Iraq is a fait accompli , that the building of the Baghdad supersize embassy will continue, that permanent military bases in Iraq will be maintained a lá Korea, and that the option of an attack on Iran will remain “on the table.”

She has not raised her voice against any of this. The vehicle by which Clinton signed on to a possible attack on Iran was her vote in favor of the Senate resolution naming the Iranian Revolutionary Guards as a terrorist sponsor. Perhaps there is also an understanding between the Clintons and the Bush/Cheney camp that the latter will not be prosecuted for crimes committed in office.

No matter who becomes president in 2008, that person will be left with a nation in disarray. This includes a foreign policy that has been sacrificed to militaristic interests, the rise of a militant Russia now allied with China through the Shanghai Cooperative Organization, and a Latin America in open revolt against U.S. domination. Even maintaining a post-Bush foreign policy will be a challenge, given Condoleezza Rice's legacy of a State Department whose morale is in shreds due to a vicious Neocon takeover of the foreign service that will persist for a generation or more.

Meanwhile, the U.S. economy is a wreck, with out-of-control debt, the housing collapse in full flower, continued erosion of manufacturing jobs, a sinking dollar, a crumbling physical infrastructure, soaring oil and food prices, out-of-control illegal immigration, and hordes of well-heeled foreigners buying U.S. assets with rapidly depreciating dollars.

The economy is in much worse shape today than when Bill Clinton took over from George H. W. Bush in 1992. It will be a miracle if the next president is able to keep the U.S. from sinking into a depression. The only qualification to this assessment lies with the large companies heavily invested in the growing Chinese economy—GM, GE, IBM, etc. But a majority of the stock of these and other corporations is owned by financial institutions, while the trickle-down effect of dividends will provide only a fraction of the purchasing power needed to keep the U.S. economy afloat.

While the views of the American public still seem to register to a slight degree, the Democrats have failed to respond to their restoration by the electorate to power in Congress by ending the Iraq War. But by their votes in 2006 and by consistently giving George W. Bush such low ratings in the polls, Americans have delivered a message. So have the many internet sites covering the real news of the war and the economy.

As well have the two maverick presidential candidates, Ron Paul the Republican and Dennis Kucinich the Democrat, who have been saying things not heard in the supine world of American politics for a long time. Things like getting rid of the inept handling of credit by the Federal Reserve and stopping the war in Iraq by exiting right now, without any more lies or excuses.

But it is by no means certain that there is much immediate hope of salvaging the nation from the current debacle. The interests of millions of Americans have been severely damaged by the financial and political malfeasance that has gone on for so long. Abroad, the deaths or ruin of large numbers of people in the Middle East must be accounted for. That region is now less stable than ever, as the situation in Pakistan shows. A negotiated two-state settlement between Israel and the Palestinians seems a distant dream. Finally, sane multilateral systems for sharing of the world's resources among nations or dealing with global warming are nowhere in sight. And a nuclear holocaust involving the U.S. vs. Russia and possibly China is a growing danger.

Further, the U.S. economy can't simply be “fixed.” It is too far gone for that. The elite began their takedown of the economy during the 1970s and show no signs of being able to reverse course. It started with the removal of the gold-peg to the dollar in 1971 and continued with the explosion of U.S. currency on the international scene due to the petrodollar, soaring trade and fiscal deficits, action to permanently mortgage us to military-backed dependence on imported Middle Eastern oil, a permanent tilt in favor of Israel vs. the Islamic world, and, finally, the galloping 1970s inflation.

These events led to the Fed-induced crash of 1979-83 which left us with today's travesty of a “service” economy. Now in 2007 the Fed is trying to engineer a “soft landing” of an economy trapped in unsustainable debt and collapsing bubbles, at least until the 2008 election. But everyone knows a crash is coming, particularly as China and other nations dump the plummeting dollar as their reserve currency.

So what are the Clintons and their government-in-waiting planning? You would think they had something in mind. But maybe not. During the 1990s, Bill Clinton acted in full accord with the globalists' agenda by continuing with the Reagan/Bush I privatization of the economy, with downsizing of government, and with promotion of the dot.com bubble that ended with the 2000 market crash. Unfortunately, it will not be as simple to engineer a repeat performance of even the ephemeral prosperity of the 1990s when what is lacking today is a real economic driver.

The grievous condition of the U.S. is reflected in an epidemic of mental and emotional illness and a rising violent crime rate. It is reflected in a USA Today poll, where 72 percent of Americans say the nation is moving in the wrong direction (74 percent in a Washington Post/ ABC News poll). And who knows what disasters global warming has in store?

To face all this will require a decisive reorientation of U.S. governance. There is little in the history of the Clintons, their opportunistic style, and their passivity to the financier elite that justifies this much optimism. The financial controllers today exert more power over the U.S. economy and the nation's politics than at any time in history. They are not giving up this power. In fact, Hillary is their “safest” choice among the Democrats in maintaining control.

Perhaps we may want to indulge in a sigh of relief at how much worse things could have been—or may still be—if Bush/Cheney unleash even more disasters. But stay tuned. The next four years are likely to be decisive—particularly because the plan to elevate Hillary Clinton may be a trap by which she is left holding the bag for an economic collapse that would make it much easier than at present for the Neocon storm troopers to rush back in.

What is absolutely certain is that the people of the world do not want war, regardless of their religion, race, or nationality. The people of the world want economic fairness. The people of the world want to live by honest labor, not bank credit. And the people of the world want an environment that is clean and safe for future generations. The only people who do not appear to want these things have been those who are currently in charge of the U.S. government.

The question now is what are the American people willing to do to assure that what is truly in the best interests of the nation will prevail? Will they continue to be manipulated by the fear which has been the basis of the Bush/Cheney mode of governance? Will they continue to act as obedient puppets as it becomes harder and harder to earn a living and raise a family in an economy throttled by debt and a declining standard of living? Will they simply vote for whom they are told to support by the media and the pollsters? Or will some decide that enough is enough and resolve to take America back in 2008?

But even if they do, can they succeed?

While Hillary Clinton is likely the designated Democratic nominee, Rudy Giuliani leads the polls for the Republicans. Giuliani, with his own group of Neocon advisers and his militant outbursts promising more war, is the ideological godson of Bush/Cheney.

Whoever is pulling the strings behind the scenes, it is likely obvious to them that to allow a character like Giuliani to step in while so many raw nerves are exposed among the American populace could lead to a premature explosion. Especially since Giuliani spent most of his adult life as a prosecutor putting people in jail. It's hardly a time in the nation's life when what is needed as head of state is an expert at slamming people into detention. 

So what if Giuliani actually threatens to defeat Hillary while the establishment has decided to support her, perhaps just to buy time?

The establishment is taking precautions. It seems to be doing so by starting to promote a plan that could see Ron Paul running as a third-party candidate. You can see this unfolding, for instance, in his favorable treatment on CNN's “Situation Room.” And could Dr. Paul really have begun suddenly to raise enormous amounts of campaign cash without someone in the establishment giving a green light?

Ron Paul as a candidate would obviously generate enormous excitement. But he could end up playing the same role as Ross Perot in the 1992 election, where Perot allowed disgruntled voters to let off steam while drawing enough votes to allow Bill Clinton to defeat George H.W. Bush.

One way or the other, the fix is on.

Finally, we should note that the “revolutionary power” Paul Krugman refers to is not just the Bush/Cheney/Neocon regime. They are only the most visible recent manifestation.

The true “revolutionary power” is much less visible but may reasonably be identified with the higher echelons of the “financier elite” and “establishment” referred to throughout this article. The underlying agenda of this group seems to be to destroy the U.S. as the world's greatest industrial democracy, turn it into a province of a globalist system under their control, and use its land and population as muscle for world monetary and military dominance.

Can anything be done? Of course. The underlying problem is that the power and wealth acquired by the U.S. after World War II has eroded—has perhaps been squandered—as the rest of the world has grown up. Certainly, if the right people were in charge the U.S. could accept the inevitable, rebuild its failed domestic economy on democratic principles, and assume its rightful place as one of several major world powers, with the responsibility this would entail. Instead, we have been trying to hold onto what has slipped away by a continued resort to financial aggression combined with force of arms, rather than altruistic action based on enlightened ideals.

It's a failed mission. What has happened to America in the last decade is turning into the greatest tragedy of modern history.

And what can ordinary people do while all this is unfolding? The best advice seems to be not to try to hoard paper assets, which the elite are able easily to manipulate or devalue. It's to get out of debt, hone our manual skills, invest in a small business, grow our own food, stay positive, help others, work hard, eschew the consumption lifestyle, pray and meditate, be sober, and learn to think for ourselves. We might try to work within the political system if we can and want to, but should not count on easy successes, because, as the man said, “It's a hard rain's gonna fall.”

 

By Richard C. Cook
http:// www.richardccook.com

Copyright 2007 Richard C. Cook
Richard C. Cook is a former federal government analyst who was one of the key figures in the investigation of the space shuttle Challenger disaster. He is author of the book - Challenger Revealed: An Insider's Account of How the Reagan Administration Caused the Greatest Tragedy of the Space Age is Richard C. Cook's personal story of how he disrupted the cover-ups surrounding the Challenger disaster.

Richard C. Cook Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

meta-babar
13 Nov 07, 05:43
3rd party candidate Paul

What about a 3rd party candidate Ron Paul who drain some liberal votes to assure a Giuliani victory?

Here's my point: Kucinich is nowhere to be seen, so the only visible anti-war candidate is Ron Paul. Democrats could vote against the betrayal of the democratic congress and for this Paul is certainly compatible.

I say this because as a French liberal, probably much more leftist than the US democratic grassroot, I am very attracted by the Ron Paul phenomenon. If I were a US citizen, I could vote for him even if I'm against his views on education, abortion, religion, tax policy and Health care (thought he's right when he says big drug corporations are making too much profits with public fundings). So why? Because his message about constitution is just reassuring. His economic views are at least coherent, and his foreign policy is simply revolutionary (on this last topic my adhesion is maybe biased on a US point of view).

As the dollar is your currency and our problem (us foreigners), you vote and we (this time US included) all endure.

It's always a pleasure to read you, R. C. Cook, as you are the perfect and highly necessary political complement to what is wonderfully explained in this site on the econonmic side.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in