COLLAPSE

We will all swallow our cup of corporate poison. We can take it from nurse Romney, who will tell us not to whine and play the victim, or we can take it from nurse Obama, who will assure us that this hurts him even more than it hurts us, but one way or another the corporate hemlock will be shoved down our throats. The choice before us is how it will be administered. Corporate power, no matter who is running the ward after January 2013, is poised to carry out U.S. history’s most savage assault against the poor and the working class, not to mention the Earth’s ecosystem. And no one in power, no matter what the bedside manner, has any intention or ability to stop it.

Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.

The German austerity dictat is leading to new economic and social turbulence in the indebted counties of the southern Euro-zone.

Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit. The city of Detroit was once one of the greatest industrial cities in the history of the world, but today it is a rotting, decaying, post-apocalyptic hellhole. Nearly half the men are unemployed, nearly half the population is functionally illiterate, more than half of the children are living in poverty and the city government is drowning in debt. As economic conditions have gotten worse, crime has absolutely exploded.

The workers at the Kilkis Hospital and at most of the hospitals and health centers in Greece are not paid on time and some of them see their salaries being cut down to practically zero. A fellow-worker of mine was transferred to our cardiologic clinic in shock, when he realized that instead of receiving the usual check of 800 euros (yes; that is his monthly salary) from the state, he received a note saying that not only he will be paid nothing for this month, but he is also to return 170 euros. Other workers were paid only 9 (nine) euros for this month.

Today the real US unemployment rate is 23%. There are 20 million more poor people than the government says because the Feds use costs from 1952. The passage of NAFTA (North American Free Trade Act) of 1994 sent 50,000 manufacturing plants overseas. That is between 16 and 17 plants for each of America’s 3,000 plus counties. We have not yet quite walked off the edge of the cliff.

‘Know your enemy.’ We need to understand our common enemy is the banking elite. We need to make new neural pathways and coin new words. We need to learn the background and the language of people the Jewish owned corporate media had told us were our enemies. All of these people have a score to settle with the bankers. You just have to learn their history before you ask them to join the Anti-Banker party.

Chosen technology got half a billion dollars of taxpayer money but could not be scaled up economically.

Campaign contributor takes the taxpayer money and then shuts down plant.

This occurring as global demand for solar panels is in full collapse. Index falls 5% on Friday.