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The Unraveling

by Open-Publishing - Thursday 16 August 2007
7 comments

Trade-Exchange Rates Economy-budget USA Daveparts

By David Glenn Cox

The unraveling has begun, watching the talking heads the only thing they seem to agree on is the money being pumped in by central banks around the world isn’t getting to where it needs to go. That’s an easy one, everyone wants to help the leper’s but no one wants to go do it personally.

But for George Herbert Hoover Bush this is his moment in the sun, his hour of redemption. During hurricane Katrina Bush was accused of ignoring the suffering of the residents of Louisiana because they were poor and black. Now he’s proving to the world that it was not so, this time he’s ignoring bankers who are rich and white. Trapped on the rooftops of failing banks as the economic levees collapse and the castles made of sand wash away all while George tunes up his air guitar.

Not that they wouldn’t help if they could but no one has the answer. The philosophy of when in doubt do nothing reigns supreme. The Fed working in relatively small increments pours money in then sits back and watches. The European central banks alone have poured in more than double the amount of the US Federal Reserve and the problem is in America not Europe. Proof positive the smart money boys are lost like a ball in high weeds.

During the Three Mile Island accident the plant operators went through the manual and yet everything they tried just made the problem worse. The problem was that they didn’t understand the problem in the first place. This was a new problem that wasn’t in the manual. Our economic wizards will tell you the problem is liquidity in the sub prime mortgage market.

But missed in the economic floodwaters among the flotsam was the waterlogged performance of Wal-Mart. The home of low prices and lower wages is in a crisis mode as store sales are flat. They have tried to attract newer more upscale customers but they prefer to stay segregated from the great unwashed. Wal-Marts customers are generally the lower strata of the economic ladder, those of us who are all ready under the floodwaters.

There is a section of the population myself included that won’t shop at Wal-Mart because of their policies and practices and that demographic is growing. Wal-Mart stock suffered from reduced profit expectations do to shrinkage. Theft, Wal-Mart estimates 47% of shrinkage is caused by employees, funny isn’t it. No one hates Wal-Mart more than your friendly Wal-Mart associate does. A 44% annual turn over of employee’s leads to employee’s who don’t know or don’t care or don’t want to know and won’t ever care.

Maybe you saw your co worker put a camera or DVD player in the trash on his way out what do you care it’s not worth the trouble. It’s not like the company would appreciate you or something. But in reading about Wal-Marts troubles I read something that disturbed me greatly, so much that I went looking for corroboration. The theft problems at Wal-Mart weren’t camera’s or DVD players or sneakers or rap music CD’s but food!

Food from Wal-Mart grocery stores was among the leaders, the canary in the coal mine. Teenagers steal sneakers and video games the elderly steal Poly Grip or Preparation H to stretch their Social Security checks. But food crosses all lines hungry people steal food, they don’t brag about it nor are they proud of it they don’t do it to impress their friends or to be thought of as cool.

I was shocked to read it but I bet the boys at the Fed don’t know about it yet. George Herbert Hoover Bush doesn’t know it and I bet the traders in the money pits on Wall Street don’t know about it either. If the economic talking head guru’s on TV know about it mums the word. But as they pontificate about the nations largest mortgage lender becoming insolvent can they miss the significance of the nations largest retailer losing millions of dollars in stolen food! Duh! Just doesn’t seem to cover it.

Globalization has brought lower wages to the middle class and even to the upper middle class and two days of hunger can undo a lifetime of thou shall not steal. Civilization is a voluntary organization and people priced out of it and pushed out of it don’t care about it any more than Wal-Mart associates care about stock forecasts.
But they do understand that working two jobs isn’t full employment but empty life.
A life of struggle and hardship of doing and doing and doing without.

But those at the top really believe if you pour enough money in it will trickle down but the evidence says other wise. Globalism was sold to us that it would bring jobs and prosperity but the evidence says other wise. The exportation of manufacturing and the outsourcing of technical jobs has left a hole in our economy and it is exacerbated by 20 million illegal aliens driving down wages even more. Any good Republican can tell you it’s not about racism its about supply and demand.

But the housing bubble or any bubble is built on the expectation that it will continue to expand. But when a nation export’s it’s manufacturing base and outsources technical jobs and forces down wages what else can mortgage lenders do? But lower standards after all they will pass that paper on anyway and their income is dependent on how much paper they pass. Just as the homebuilders is on how many homes they sell and they material suppliers depend on them selling as well.

But forgotten in the formula is low wages and no health insurance force people out of the home buying market. People stealing food at Wal-Mart don’t buy houses in fact they don’t buy much of anything. The illegal alien carpenter building those new homes sends his money home to Mexico or Guatemala where globalism and free trade have brought even more misery.

It’s the great global disconnect, high corporate profits does not prosperity make. The Chinaman earning five dollars a day might look great on the balance sheet but it doesn’t help Pittsburgh or Portland and since the corporation uses a mail drop in the Caribbean it doesn’t add one dollar of tax revenue to the local economy. You’ll just have to make up that tax revenue from the Wal-Mart associates or maybe add a penny of sales tax.

Duh! I wonder why bridges are falling in? I wonder why those levees failed? I wonder why our jails are full? I wonder why do those kids want to sell drugs?

Push has come to shove, the bubble burst not because of easy credit or action by the Federal reserve, or mortgage lenders but by the strangulation of the American working class. The pinprick of reality the one time wealthiest consumer in the world now steals food from Wal-Mart, where one income was once enough now it takes three or more.

There is a cynical guilty pleasure in watching the smart boys struggle to swim against the current, trying to handle the crisis. I know it’s wrong, but for so many years they had all the answers and spoke of the working class in their academic abstractions of lowered expectations and short term economic pain. Eat some of your own lowered expectations and short term economic pain fellas it’s called humble pie. Maybe the wife can get a job, I hear Wal-Mart’s hiring or maybe if you work more hours or live in a smaller house this will all go away.

But it won’t go away, last week the experts called it a correction yesterday the used the word bank failure. Last week Country Wide mortgage said they had $187 billion in reserves but the reserves are in those same depreciated dollars that force Americans to steal food from Wal-Mart. The weakness isn’t at the top it’s at the bottom, a con perpetrated on the American people to pay for wars and tax cuts when they didn’t need either.

We seem to need to relearn the lesson every few generations, that the top of the economy is supported by the bottom. That wealth comes from the bottom up that there has never been an economy where the working class has done well that has collapsed. The wreckage from economies manipulated to move wealth to the top
of societies litter history books pages. Maybe now we can go back to business building products rather than stock prices and making money by making things. And by paying decent wages to the people so they can buy those products.

If your answer is that can’t be done, then start swimming Capitalism is finished.

Forum posts

  • Another one of Daveparts’ profound postings. Hello, and body home?

  • Yes, this excellent article brings up many good points. We live in desperate times and this dominates our culture or lack of culture. This was done on purpose to the USA to undermine the moral fabric of society-the family, religion and a sense of meaning and purpose. All of this has been stolen from us to prop up a relative few wealthy elite oligarchs. I think we are on the precipice of a multi-trillion dollar loss in "wealth" that never really existed anyway. Our wealth has actually become imaginary in effect. A friend of mine says he’s a millionaire because he has over one million dollars in the bank. I told him, "Go get it." If he tried to withdraw it in cash they’d laugh in his face. The banks do NOT have to give you any money when the fit hits the shan. I withdrew all my money from Bank of America a few years ago and was interogated for 45 minutes to get the money that belonged to me out of their posession. I can feel this sneaking up on us and a lot of people are going to loose what they think is their wealth. The worldwide stock market is so unstable now it could collapse at any moment. It reminds me of an emergency patient on the operating table being injected with drugs to keep his heart going despite fatal internal bleeding. Once a certain threshold is reached, it’s all over.

  • "There is a cynical guilty pleasure in watching the smart boys struggle to swim against the current, trying to handle the crisis. I know it’s wrong, but for so many years they had all the answers and spoke of the working class in their academic abstractions of lowered expectations and short term economic pain. Eat some of your own lowered expectations and short term economic pain fellas it’s called humble pie. Maybe the wife can get a job, I hear Wal-Mart’s hiring or maybe if you work more hours or live in a smaller house this will all go away"....You said it my brother!

  • "Heh, heh, heh, heh, heh." George W. Bush, CEO, Corporate Warmongers

  • "Big Darkness Come Soon"
    Hunter S. Thompson said shortly before his death:
    "It is genuinely incredible. The U.S. Treasury is empty, we are losing that stupid, fraudulent chickencrap War in Iraq, and every country in the world except a handful of Corrupt Brits despises us. We are losers, and that is the one unforgivable sin in America...Beyond that, we have lost the respect of the world and lost two disastrous wars in three years. Afghanistan is lost, Iraq is a permanent war Zone, our national Economy is crashing all around us, the Pentagon’s "war strategy" has failed miserably, nobody has any money to spend, and our once-mighty U.S. America is paralyzed by Mutinies in Iraq and even Fort Bragg...The American nation is in the worst condition I can remember in my lifetime, and our prospects for the immediate future are even worse. I am surprised and embarrassed to be a part of the first American generation to leave the country in far worse shape than it was when we first came into it. Our highway system is crumbling, our police are dishonest, our children are poor, our vaunted Social Security, once the envy of the world, has been looted and neglected and destroyed by the same gang of ignorant greed-crazed bastards who brought us Vietnam, Afghanistan, the disastrous Gaza Strip and ignominious defeat all over the world. The Stock Market will never come back, our Armies will never again be No. 1, and our children will drink filthy water for the rest of our lives...Big Darkness Come Soon."

  • It’s difficult to post anything that doesn’t ring true to all the comments posted here. However, the one thing we do have is our own soul(s). Let’s make it a true and loving collectively "one"...

    • We are all in the same boat, and I know that many of us have been traumatized by this unbelievable event. Here is an essay I wrote to lift up a friend who is well known in the "truth" movement. I would like to share it with all of you who are very special for caring. Most of the folks I warn about this ignore me and go golfing. My essay is called:

      There Is Hope!

      Dear Friends, lately I have noticed a trend in many highly motivated people who are politically active and aware. There seems to be a deep sadness and a feeling of loss. We all have been scared emotionally and spiritually, some more than others, depending on our level of awareness and what we can psychologically handle. But to lose all hope now is to admit defeat in a war that we must not lose! This is not the advertised and bogus "war on terrorism." I am talking about the battle for our souls and the attempt by governments to hide the grim realities of current foreign policy. Those of us that are aware of what is really happening are the only hope for survival of a free group of people. Of course, what color someone is doesn’t matter in this battle, since our souls (and ultimate goals) are indistinguishable. It is our actions and our values that separate us (or unite us). The time to take responsibility for our own survival is now. We must return to the land and nature and learn how to establish ecosystems that are self sustaining. Without functional, productive, fertile land, we are nothing. Once we have possession and control of fertile land, we must protect it, preserve it and avoid the theft of our land by government forces, gangs, bankers or anyone else.

      If we give up and say there is nothing we can do, then we are quitters. There is nothing more offensive to God than a coward or a quitter. A quitter offends God because the quitter has no faith; if he or she did have faith, they would not give up. And to die a coward or quitter is the ultimate disgrace. I have been attacked in the past by two predators, one with a knife and the other a 44 Magnum pistol. I did not follow their instructions or go along with their evil plan. I had to fight two thugs at once to save my life and I am still here because I did fight back. I had faith that God would take care of me and He did. People who have not had an experience like this do not fully understand just what faith really is. How would you react if someone came into your house to rob and kill you? Would you do what they told you to do, or would you look them in the eye and say, "fuck no, go to hell." It takes balls and faith to speak that way to a fellow that has a 44 Magnum aimed at your head, but this kind of courage and strength is exactly what we need at this time. Courage and strength come from faith. Without faith, we are reduced to ineffective cowards because we will not possess the courage to speak truth to power, stand up to it and prevail. If we all stand up with faith and strength, God will come to help us. If we quit and conform to evil, then God will not show up and save our cowardly asses. God does not like cowards-they are not permitted to be in His presence. Cowards (non warriors) are recycled like garbage by the cosmos until they learn faith and strength or until they are consumed by evil. So stand up strong and do whatever you can do to help the earth and all its creatures. There is something all of us can do, and your faith in God will direct you. This is a time to firmly establish your core values. Ask yourself what really is important to you and your family, where it comes from and what would happen if it suddenly disappeared. Anything you truly depend on, you must learn to produce it yourself or do without it, you will have no choice in the hard times ahead of us. Now is the time to prepare, to strengthen your soul, your body and your mind. In the times ahead, we will need all the strength and courage we can muster.

      Once you achieve this level of faith, you are able to "raise wind-horse" as the Shambhala warriors say. The meaning of "warrior" is different in eastern culture. A warrior is not a warmonger or a brutal, sadistic coward; a Shambhala warrior is a strong man (or woman) who follows his innate wisdom from God. The Shambhala warrior has a direct link to God and becomes fearless in his selfless actions. A warrior only fights to prevent the oppression of people, never to gain bounty or treasure like a western "warrior" would do. A warrior in the west is actually a coward, unless of course, that warrior is a Shambhala priest or Kung-Fu practitioner.

      The sacred path of the warrior will have many tests along the way, each designed to build character and strength. With each mountain climbed, the warrior becomes more spiritually advanced, achieving a heightened state of awareness and wisdom. This wisdom is used to help common folk maintain dignity when forces of evil are striving to remove anything that even resembles dignity, honor or strength. The social engineers like to foment war between white and black or between black and brown, but we must become color blind and work together to create a world that treats us all with dignity. If it is OK to shit all over the brown man, then it is OK to crap all over anybody. When we allow ourselves to be molded by fear and hatred, we actually work to help the government in their diabolical plans to enslave us all. Hatred and fear create lower energy vibrations that emanate outward and lower the vibrational level of other creatures. On the other hand, the brighter, higher level energies of the Shambhala warrior elevate the dark energy of the brainwashed and weak people. So what we think not only effects our own health, it actually effects other people’s health too! All of us liberate colors (energy), called our aura, which always give away our true intent to the spiritually advanced. I can see evil, I can recognize evil, you cannot hide from me. How is this possible? It is all energy, or frequencies, which are placed in different octaves depending on their wavelength. Only a small fraction of energy is visible to us, most of it is invisible to the human eye. However, other glands in our bodies pick up on the frequencies (colors) coming from our aura. This is how we recognize a soul mate; we vibrate on the same frequency. People of different races live and vibrate at different levels and this is why forced integration is evil and meant to start trouble! It is alright if blacks and whites live separate, as long as both are able to live with dignity and honor. We must take our women back from the social engineers, they have been decimated by the constant psychologically charged marketing that has turned them all crazy. Turn your goddamned TV off, dumb ass! Just checking to make sure you’re still with me! ? Stay strong, stay fearless, walk with dignity and honor (head and shoulders), protect your women and children and lead by action. Vaya con Dios! Long live David Lane!

      Scott