Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Will the US Disintergrate?

Politics / US Politics Oct 15, 2012 - 02:46 AM GMT

By: LewRockwell

Politics

Jack D. Douglas writes: An essay by Simon Black, sent to me by Wes Drawdy down in South Carolina, is a very good overview from the ground up of what's happening in the Spanish Financial Crisis and is very similar to what is already happening in Greece, Italy and Portugal and will likely soon be happening in France and northward. He emphasizes the "capital flight" he could see all around him, people rushing to get their money out of the Spanish banks before emergency laws impose severe restrictions on withdrawals, as has already begun in less drastic ways in Italy, and getting it out of Spain, especially to nearby Andora. The financial Media are covering this, but they are emphasizing the banks' massive borrowing to the de facto insolvent Spanish government, which makes the banks de facto insolvent, while all officials are pretending this is not yet at the critical level which could produce a full scale banking panic any day. The Media also do not catch the sense of growing panic among the people in general, as Black does.


Black does not mention that the banking crisis involves the regional banks, not just a few Big Banks. He does not mention that the natives are beginning to revolt. The richest, industrial province of Catalonia is planning to hold a referendum on secession because the central government is taxing them severely to help faster sinking provinces, pushing Catalonia into ever deeper debts it cannot pay. Roughly 75% of the people in Catalonia tell pollsters they want a referendum on secession. Just yesterday the federal government moved to take more direct control over Catalan education to Hispanicize the people more, which was already a major reason the people want to go free. A few other provinces are rumbling and seem to be moving in the same direction.

My life long friend Bill Marina was Anglo-Hispanic-Cuban. His father and his family were Spanish-Cubans who moved to Cuba early in the last century. The family was not from Catalonia, but we paid attention to Catalonia because they have been so important in Spain and retained much of Catalan culture and nationalism. I used to remind Bill that Catalonia would likely rise again some day by simply saying, "Viva Catalonia!," to which he merely smiled. I think we were right. I've long thought the same of my ancestral nation of Scotland and thought it absurd for such a fine nation dedicated to education, intellectual life, science, and Adam Smith should be tied to London, though I've also thought it would be nice to take Cambridge and Oxford and some other good schools along with them when they break free.

The societies that have already been decentralizing and disintegrating faster and faster, such as the .K, will very likely disintegrate into their more tightly, culturally knit local, provincial societies, especially along the ancient lines of earlier nations. The Irish are already free, Wales and Scotland have been growing in power with "devolution" of power from the UK, and now Scotland is becoming more nationalistic. I expect Italy will likely break up in part, at least losing the Northern League nations.

The U.S. has been fighting cultural wars along largely regional lines for decades and these are now rapidly intensifying under the strains of the Great US-Global Crisis. The N.E. obviously is a largely foreign nation to the vast majority of us Americans and we are now more and more angry over The System and foreign policies they support and we pay for and suffer from. There are other huge fault lines among the regions of America, but none are as deep and wide as those separating the N.E. Nation from the rest of us. I went to major colleges and taught in some in the NE (Harvard, Princeton, Hopkins, Dartmouth, Wellesley, Syracuse) for many years of my young adulthood and there are many things I love about it, especially New England, but I have lived most of my life in other regions of the U.S. and am very aware from the ground level that the NE in general (excluding New Hampshire) is a largely separate nation.

The Big New York Banks and Big Media and Gargantuan DC now make me feel that more than ever. The South and other cultural nations are not yet ready to rise again, but a catastrophic implosion produced by the insanities of the NE, mostly DC, will change that drastically. If so, I think Southern Blacks, who have been returning home from the NE, Middle West, and West, will join in singing "Dixie" and that will finally end the awful, fatal fault line of the earlier Southern American nation.

Jack D. Douglas [send him mail] is a retired professor of sociology from the University of California at San Diego. He has published widely on all major aspects of human beings, most notably The Myth of the Welfare State.

http://www.lewrockwell.com

    © 2012 Copyright Jack D. Douglas / LewRockwell.com - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

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