Thursday, February 12, 2009

Very Weird (Conspiracy?)

The current economy is scary beyond belief. Unfortunately, current circumstances commonly referred to as the worst since the Great Depression; actually appear to have the potential to be as bad as or worse than the great depression. We can only hope, at this point, that somehow or another we can pull out of the current recession and related circumstances without suffering greater devastation.

Nothing funny about it! The reason I say that (other than because it’s true) is that the basis of this particular blog is that a couple of years ago; basically the last couple of years of the G. W. Bush administration, I started joking among friends that “We (the country) are going to have to declare bankruptcy and turn to socialism” - At the time, it was said jokingly. This had started a couple of years ago, well before the current deep recession-like circumstances which seem to have begun to hit home for the most part around September 2008 with the wave of bank failures, followed by the circumstances of various failing business’ and downsizing.

The basis of this at the time was mainly concerning the Bush administration‘s conducting of the wars in Iraq and Afghanistan, as well as other large expenditures attributed to the Bush administration which appeared to be spending without any restraint or accountability.

Just a few months before the real crash (so-to-speak), with the bank failings and subsequent circumstances as mentioned in September of ’08, something else occurred to me. At that time I started somewhat joking saying, that “If you look at it, it really almost appears that the Bush administration has unfolded like a well-organized conspiracy.”

The thing is, that if you do think of it, the current circumstances in the country really fit the mold of what has been put forth over the years as the desired results of a conspiracy to undermine and overtake the United States. Since the U.S. has always had superior military and therefore defense ability; it’s been noted by some that the only real way to undermine/takeover the U.S. would be financially and likely that would have to be done internally.

Basically bankrupting the entire country including the actual U.S. Government itself, appears that it would accomplish this.

It’s really unbelievable. Basically overnight we were warned that if the U.S. Government didn’t come up with over $750 billion that we faced certain catastrophe; which we may never recover from. Everyone basically was convinced that this $750B bailout was necessary, and it took place in relatively short order. In order to emphasize the over-night aspect of this story, I’d point to the story told several times by U.S. Speaker of the House Nancy Pelosi, where she recounts that she was at some point in contact with the Secretary of the Treasury Henry Paulson and when she said that they should set up a meeting for the next day, the secretary said that it couldn’t wait till the next day. In any case, this whole situation arose and the $750B bailout was approved in considerably short order.

Actually, there is every reason to believe that certain catastrophe was indeed inevitable at the time. I’m not saying, at this point, that the authorization of the bailout was misplaced. All the commentary I heard and I listened to a bunch of it; all the experts, for the most part, agreed that although it wasn’t a desirable move to have to make, that it was in fact necessary. I’m not arguing that (I’m not knowledgeable enough). I remember looking for a consensus among what I considered to be reliable sources on the news reports. People exclaiming the necessity of drastic action at the time, included Warren Buffet, Jack Welsh, Lawrence Kudlow and Jim Cramer from CNBC and Paul Krugman, to name only a few, along with other economist and commentators; for this reason I would consider that fundamentally, the action taken at the time was in fact necessary. (If I'm mistaken about any of the names I've mentioned above; I'll find out and correct it; but, I remember quite a few notable names who clearly supported the need for the bailout given the circumstances at the time).

The problem is that we had arrived at a point where this type of action was necessary!!!!

Remember, this was in September of 2008; less than two full months before the Presidential election of 2008 and just several months before the end of the G.W. Bush administration.

It was before this time that (as I said above) I had been jokingly (so-to-speak) thinking to myself and saying to a few that in seems that in a way you could say that the Bush administration had unfolded like a well organized conspiracy. Basically bankrupting the country, the United States. With his conducting and mishandling of the wars in Iraq and Afghanistan, especially Iraq, along with his various other mishandling of government programs and spending, Bush set in motion programs, policies, spending obligations that would eventually bankrupt the U.S.

Meanwhile, in the U.S., Bush was proudly exclaiming that under his administration that home ownership in the U.S. had reached an all time high. Policies of mandating home loans for even those who would not normally qualify for a home loan, along with other aspects of mismanagement concerning the regulation of the various financial markets, caused and allowed the economy to burst. It was toward the end of the Bush administration that the U.S. was experiencing record home foreclosures. The housing market is widely noted as a (or the) most significant factor in the bank failings, and the other resulting economic circumstances.

At this point, we’re into February of 2009 and it’s not clear whether the economic stimulus proposed by newly elected Barrack Obama will succeed in turning the economy around or not. However, it’s clear that by the end of 2008; the economy had been caused and allowed to tank so severely that it is unfathomable. Unlike anything seen since the Great Depression of 1929; and with the potential to be worse; including affect of the global economic crisis.

Since no country, at this point, could overtake the United States; a takeover would only come from within. The way to do this would be to bankrupt the country, therefore allowing whoever is in charge to formulate all sorts of nontraditional laws which would have to be accepted by the American people. When the people have no money in the bank, no house to live in, no job or no secure job, no leg to stand on, it’d be hard to fight such a movement. Therefore, as I say, it could be said that the Bush administration could appear to have unfolded like a well-organized conspiracy. There seems to have been a combination of bankrupting of the actual government (treasury) of the United States, and a bankrupting of the American people. With so many bank closures, business failings, lay-offs, downsizing, etc... These are the circumstances which could bring about the undoing of the U.S.

When the people don't have any means for supporting themselves; they are necessarily dependent on the government.

I don’t believe that this is the case. But, it sure is very weird. And, from what I’ve already heard of some of President Obama’s detractors; even before he was nominated, much less elected; they expect that he is on a mission to undermine the United States of America. Well, the recent undoing of the economy and security of United States was the doing of George W. Bush. Obama inherited these circumstances.

Additional note; 17 Feb '09: For what it's worth; as I'm typing this, I'm watching Hardball on MSNBC, which I do frequently. I had just put the post up a few days ago. Chris Matthews the host of Hardball, at about 5:20pm; having a discussion on what caused the downfall of the American economy, Matthews just commented that "it's almost like a conspiracy to bring down the American economy." Interesting! I'm not saying that he got the idea from my post; I'm certain he didn't; it was an off the cuff remark, and almost no one is even aware of much less reading my blog at this point. I'm just saying that it's interesting and coincidental.


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