Economic 9/11 Coming?

Economic 9/11 Coming?

by Bill Burro Thursday, Nov. 25, 2004 at 11:32 PM


Dollar crashing, national debt exploding, massive trade deficits...can another 9/11 be expected, this time of the economic variety? The cynically minded will imagine that the Bush Reich will welcome the opportunities provided by total economic chaos and destruction in Amerika. Why? Because they make the game rules and profit...

If we see an economic crisis, say, beginning
with a $US freefall and inability to refinance
the national debt except at *much* higher
interest rates (the Armageddon Option in other
words), then what will the Bush Reich do?

Will they work on the problem? Or, as with
the other 9/11, will they view the disaster
as an opportunity to pursue unrelated agendas
that can be packaged and promoted as part of
the solution -- regardless of the fact that
their prescriptions are likely to have zero
healing power, any more than repealing the
estate tax and the billionaires' taxes created
jobs in the U.S. (many jobs were created in
other countries as the loot fled America,
but that is another story...)

The whole wish list comes out when the economic
9/11 hits: eliminating all corporate taxes by
peddling something called "elimination of the
IRS and income tax" and introduction of a
"national sales tax"; eliminating the ability
of individuals to sue corporations by capping
damages at absurdly low levels (thus preventing
individuals from obtaining lawyers); and of
course, "privatizing" social security, meaning
of course abandoning future beneficiaries or
ensuring their payouts are trivially meaningless
(especially after the economic 9/11.)

It can be no coincidence that Congress recently
passed a law allowing free repatriation of
foreign assets by U.S. corporations -- at a 5%
tax rate, if performed by year end 2005. By
year end 2005 the $US may be worth as much
as a Mexican Peso, and the corporados can
bring back their money and take over everything
else!

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