Written by Jeff Nielson Thursday, 26 June 2014 13:04
A recent headline in the mainstream media caught my attention due to its dramatic nature. It spoke of “bridges crumbling” in the United States (along with its highways rotting). The media drone then attempted to explain why these bridges/highways were being allowed to crumble, despite borrowing rates which are “the lowest since 1969”.
The explanation given was totally false: that (supposedly) U.S. state and local governments were “repaying obligations by the most on record”. This is propaganda nonsense, since what it directly implies is that state and local governments would have to be recording the largest budget-surpluses on record. Mathematically, this is the only possible way to retire debt by a corresponding amount. Those surpluses do not exist.
In fact, what the Liar from the mainstream media was really pointing out is that state/local governments are making the largest interest payments on record, the result of the “unprecedented deficits” acknowledged within this piece of mainstream propaganda. This allows us to provide the real answer to the question: why are “bridges crumbling”, in the U.S. (and across the rotting West) despite the lowest borrowing-rates in 45 years?
The answer to the question is simple arithmetic. Our bridges, our highways, indeed, our entire economies and societies are falling apart because governments (at all levels) are drowning in debt. When governments (at all levels) are making the largest interest payments on record (but never paying-off any principal) it means less dollars left over for spending on useful/necessary services, and infrastructure investment/maintenance.
Because these governments are now all permanent debtors, and their interest payments simply get larger every year; it is mathematical proof that these governments are now already past the point-of-no-return on their indebtedness. As a matter of the simple arithmetic of “compound interest”; it is no longer a question of “if” governments across the West will default on their debts – merely when.
Western governments (most-obviously the U.S.) are insolvent endemically, thus the worsening decay of our infrastructure (and economies/societies) will never stop its downward spiral. Rather, this downward cycle will worsen, exponentially, until we have a collective Debt Jubilee, and simply erase debts which are now too large to ever be repaid.
Debt Jubilee is a regular event throughout history, going back to (literally) biblical times. It is based upon one of the constants of human behavior: that governments (good and bad) will place short-term expediency and popularity ahead of long-term fiscal prudence. The result is a multi-thousand year litany of governments (of every shape and form) digging themselves into (debt) holes from which they can never be extracted, resulting in Debt Jubilee.
But the story of the West drowning in debt is more than a story of governments. This endemic indebtedness extends throughout our populations. There are two reasons why individual members of our societies are drowning in the highest levels of personal debt in our history.
The first reason is that the Corporate propaganda machine has made taking on debt a virtue. In every previous generation; taking on “a second mortgage” was the ultimate indicator of personal, financial shame. It proved that (barring some personal calamity) the borrower had not been managing their finances responsibly – and thus had committed the Cardinal Sin of financial management: taking on unnecessary debt.
Written by Jeff Nielson Sunday, 22 June 2014 10:04
What is the one thing more reprehensible than the saturation-lies which emanate from the mainstream media, our servile governments, and (of course) our banker overlords on a daily basis? The (bogus) Revisionism which follows it, which seeks to explain, excuse, or simply erase those preceding lies.
Within this general category of Revisionism; one sub-category stands out as an especially despicable form: the war-Revisionism which is an endemic component of the One Bank’s propaganda campaign. Clearly the only thing which could possibly be more-evil than war itself is to attempt to “excuse”, “explain”, or simply erase the worst episodes of history.
This is especially true given that those entities with the strongest motive to engage in such vile Revisionism are the entities originally responsible for either perpetrating or provoking those wars. As such, it was the ultimate in repugnance this week when Bloomberg trotted-out the Bush Neo-Cons, architects of the Iraq War – and then allowed these career-liars to blame the (corrupt) regime which succeeded them for the mess they created.
Here history (real history) is unequivocal. It was these neo-cons who were solely responsible for creating all of the conditions which supposedly justified their invasion of Iraq. It was the neo-cons who fraudulently fabricated the pretext for invading Iraq. It was the neo-cons who brutally and incompetently bungled every aspect of the subsequent invasion/occupation, from a tactical and strategic standpoint. And it was the neo-cons who made their own “deal with the Devil”, in order to whitewash a thin veneer of “victory” over their humiliating defeat.
While George Bush Jr. is the Cowboy Bully who loved to take credit for “taking-down Saddam Hussein”; it was Junior’s daddy, George Bush Sr. (and the neo-cons of his era) who created Saddam Hussein. Imposing Hussein upon the people of Iraq as their “strong-man” (puppet) was supposedly the antidote to the “radical” government in Iran.
His role was at least to militarily preoccupy – if not engage – Iran, and to that end, Western neo-cons supplied Hussein’s puppet-regime with any-and-every piece of nasty military technology in their own arsenal (with the exception of nuclear weapons). Indeed; it was only because it was the neo-cons themselves who had originally supplied Saddam Hussein with all of his “weapons of mass destruction” that the Rest of the World took them seriously when they lied about what he supposedly still retained.
Backtracking even further; what made the government of Iran “radical”? After the U.S. overthrew the democratic government of that nation, and planted the brutal/corrupt “Shah” on the throne of Iran (as another of its Oil Puppets); Iranians not only had the audacity to remove that Thug from power, but they have resisted the endless/subsequent efforts (by the U.S.) to install a new Puppet-Thug in his place.
When Hussein, himself, decided to cease playing the role of Oil Puppet for the U.S.; it became the new obsession of the neo-cons to remove him from power, and install a more dutiful (and grateful) Puppet in his place. They fabricated a pretext for war, and then perpetrated an invasion which was tactically/strategically incompetent – even by the standards of the same military (and same neo-cons) which previously brought the world “Vietnam”.