Printing $ trillions in paper fiat money without tangible backing guarantees economic Armageddon. I am not so worried by the $787 billion “economic stimulus” bill just passed by Congress as I am about the far more massive bailout of banks and financial institutions, an amount almost 14 times as large.
Wall Street economist Michael Hudson points out that the Bush administration tossed out $9 trillion to the banks, and the present administration will soon dish out another $2 trillion, money created out of thin air. This makes banks the big winners in the game of “chicken” they’ve been playing with Washington, a shakedown holding the economy hostage. “Pay off our toxic debts or we’ll plunge the economy into financial crisis.”
Be far less concerned about the stimulus money which will feed, house, clothe, employ and educate our desperate people, but be alarmed by the $3 trillion Bush war against the Iraqi people, who never attacked us, never even threatened to attack us and had no viable means of waging war against us until we invaded their land.
We caused over one million excess deaths of Iraqis, through starvation and water-borne disease by destroying their sanitation and water purification infrastructure. We bombed and destroyed their hospitals, clinics, power stations, polluted their land with depleted uranium, bombed wedding parties and blew up children by the hundreds.
It is the expenditures for criminal war and malfeasance of the banks that will destroy our nation, not charity to our own people.
Joe Howard Crews