Tuesday, August 2, 2011

August 2 (no.2): The report on the US debt deal.

I didn't mention the story on the US debt deal because there is no debt deal. The problem is a wildly out of control debt which is now causing a profound and dangerous levels of suffering in the US. The super rich haven't suffered. In fact, their share of the national wealth is rising. And they have no interest in reviving the US when they can simply shift their work to low wage countries. And it's the super rich who pay the bills for both the Republicans and the Democrats (something like New Brunswick in that respect), including Obama.

There is no deal to touch that problem. Instead, Obama and the boys decided to go back to the credit card, and borrow money (that the banks don't actually have), resulting in a bigger debt - not only for the loan but for the interest on it. (Yes. The banksactually  get interest forfor lending money they don't have.)

Will the American economy improve? Probably not.

Will American democracy survive? No. That died a long time ago. The US has a thoroughly corrupted political system, and a nation propagandized by some of the same media owners what have corrupted the government.

The barbarians (and their think-tanks) are at the gates.

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