Did You Hear It?

Did you hear hat?  Like the distant rumble of Godzilla's footstep.  Or the brilliant scene in the original Jurassic Park - where the circular ripples form in the puddle whenever the footsteps land, growing louder and louder and the THX rumble almost knocks you out of your seat.  Boom.  Boom.  Boom.

 

The Chinese are moving away from the US dollar.  Boom.  They are less confident init, and may move their colossal appetite for saving to another currency.  Boom.  Another country.  Boom.  Or they may start, finally, to buy things with it.

 

Boom.

 

First Georgie spent the surplus.  Then he went into debt.  The money all went to his friends as cash for spending.  He didn't buy any statues, and he didn't build any bridges.  He just burned the cash, the way you'd fry a $20 you forgotten you'd left in your jacket.  More and more, to historically indecent heights the deficit has bloated. 

 

The idea, of course, is to so hamstring the government with debt that cuts to programs for, you know, people can be eliminated.  People who needs stuff like food and education and a fair shake and clean air and water.  Those things we are to do without in the totalitarian neocon vision.  And the way to cut them is to "starve the beast" - deny money to the government by bankrupting it. 

 

And they're getting close.  They keep giving away the nations treasury as gifts to the wealthy.  They call them "tax breaks" but that money is not a break, it's a gift.  It doesn't belong to those rich people - it's not theirs to keep - it belongs to us.

 

And all the while, the debt piles up.  It grown because somebody is there to buy it.  Somebody is there to loan us the money that Georgie burns.  Yes, it's exactly like loaning your friend $1,000 and watching him use it to buy drinks for the house.  And then ask you for another $1,000.

 

The "housing bubble" which has fuelled the jobless recovery of little George exists because there is cheap dollar credit to be had.  That cheap dollar credit comes from China, because they save at nearly 50% and they buy American dollars.  Without an infusion of more than a billion dollars a day from China, the cheap credit that all those second and third mortgages and the interest-only mortgages that put spending money in peoples pockets goes away. 

 

Boom.

 

Georgie has engineered it so that his rich friends profit from the less-than-normal economic growth of the Bush years.  Working people (like, 95% of America) haven't seen dime one.  Just how they like it in the Junta.

 

But when the Chinese move on, they take the Ponzi scheme with them.  When they pull out for good and for real, they take our economy with them.  The only limiting factor is how much they'll risk devaluing the Yankee dollars they've bought by making America an economic beggar.  We better hope they like their dollars more than they like their Marxist-Maoist ideology.

 

Or they'll pull that rug overnight and take us back to the stone age.

 

Right where the neocons want us.