Status Report on the Collapsing American Economy
Jul 18, 2008
This is a great article by Richard Cook. In part, he writes:
"All that the current bailouts being engineered by the Federal Reserve are doing is to create more debt to shore up failing financial institutions. No new wealth is being created. It’s band-aids on band-aids.
"The problem politically is that control of the U.S. long ago was turned over to the bankers and the financiers of the Western world. It was called financial “deregulation,” accelerated under President Ronald Reagan, and has run amok since then. From a longer historical view, it’s the same phenomenon that first created and then ruined the British Empire , and it’s what created and is now ruining the American Empire today.
"A side-effect of control by the bankers and financiers is that they are also Zionists, so we have the added multi-trillion dollar burden of trying to conquer the Middle East on behalf of the international oil interests and the state of Israel."