Friday, January 18, 2008

Network

Network:
“The Arabs have taken billions of dollars out of this country, and now they must put it back. … It is ebb and flow, tidal gravity…. There are no nations, there are no peoples. There is only one vast and immense, interwoven, multi-national dominion of petro-dollars. … There is no America. There is no ‘democracy.’ The world is a business, one vast and ecumenical holding company, for whom all men will work.”
Arthur Jensen telling Howard Beale how the world works.

Network - prescient, biting, funny and above all else, relevant, says it all regarding the state of America today. We are in deep doo doo thanks to greed, incompetence and deceit. "Since taking office, Bush has doubled the federal debt to more than $5 trillion. And, according to US Treasury figures, on net, foreign investors have purchased close to 100% of that debt. That’s $3 trillion borrowed from the Saudis, the Chinese, the Japanese and others.

Now, Bush, our Debt Junkie-in-Chief, needs another fix. The US Treasury, Citibank, Merrill-Lynch and other financial desperados need another hand-out from Abdullah’s stash. Abdullah, in turn, gets this financial juice by pumping it out of our pockets at nearly $100 a barrel for his crude."

Addendum: To see another viewpoint, check out Bush's “Stimulus” Cash Giveaway; “Gentlemen, Start The Helicopters”

Last but not least, read the insightful Economist article All Fall Down? to learn about a little known but huge sector of America's markets that could also go bust along with this gem titled Is This the Big One? It's sure to warm the cockles of your heart.
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