Cheney Is Betting On Economic Collapse
August 22, 2007
The VP's Curious Investment Portfolio
Is Cheney Betting On Economic Collapse?
By Mike Whitney
Wouldn't you like to know where Dick Cheney puts his
money? Then you'd know whether his "deficits don't
matter" claim is just baloney or not.
Well, as it turns out, Kiplinger Magazine ran an
article based on Cheney's financial disclosure
statement and, sure enough, found out that the VP is
lying to the American people for the umpteenth time.
Deficits do matter and Cheney has invested his money
accordingly.
The article is called "Cheney's betting on bad news"
and provides an account of where Cheney has socked
away more than $25 million. While the figures may be
estimates, the investments are not. According to Tom
Blackburn of the Palm Beach Post, Cheney has invested
heavily in "a fund that specializes in short-term
municipal bonds, a tax-exempt money market fund and an
inflation protected securities fund. The first two
hold up if interest rates rise with inflation. The
third is protected against inflation."
Cheney has dumped another (estimated) $10 to $25
million in a European bond fund which tells us that he
is counting on a steadily weakening dollar. So, while
working class Americans are loosing ground to
inflation and rising energy costs, Darth Cheney will
be enhancing his wealth in "Old Europe". As Blackburn
sagely notes, "Not all bad news' is bad for
everybody."
This should put to rest once and for all the foolish
notion that the "Bush Economic Plan" is anything more
than a scam aimed at looting the public till. The
whole deal is intended to shift the nation's wealth
from one class to another. It's also clear that
Bush-Cheney couldn't have carried this off without the
tacit approval of the thieves at the Federal Reserve
who engineered the low-interest rate boondoggle to put
the American people to sleep while they picked their
pockets.
The Bush-Cheney team has racked up another $3 trillion
in debt in just 6 years. The US national debt now
stands at $8.4 trillion dollars while the trade
deficit has ballooned to $800 billion nearly 7% of
GDP.
This is lunacy. No country, however powerful, can
maintain these staggering numbers. The country is in
hock up to its neck and has to borrow $2.5 billion per
day just to stay above water. Presently, the Fed is
expanding the money supply and buying back its own
treasuries to hide the hemorrhaging from the public.
Its utter madness.
Last month the trade deficit climbed to $70 billion.
More importantly, foreign central banks only purchased
a meager $47 billion in treasuries to shore up our
ravenous appetite for cheap junk from China.
Do the math! They're not investing in America anymore.
They are decreasing their stockpiles of dollars. We're
sinking fast and Cheney and his pals are manning the
lifeboats while the public is diverted with gay
marriage amendments and "American Celebrity".
The American manufacturing sector has been hollowed
out by cutthroat corporations who've abandoned their
country to make a fast-buck in China or Mexico. The $3
trillion housing (equity) bubble is quickly loosing
air while the anemic dollar continues to sag. All the
signs indicate that the economy is slowing at the same
time that energy prices continue to rise.
Did Americans really think they'd be spared the same
type of economic colonization that has been applied
throughout the developing world under the rubric of
"neoliberalism"?
Well, think again. The American economy is
barrel-rolling towards earth and there are only enough
parachutes for Cheney and the gang.
The country has lost 3 million jobs from outsourcing
since Bush took office; more than 200,000 of those are
the high-paying, high-tech jobs that are the
life's-blood of every economy.
Consider this from the Council on Foreign Relations
(CFR) June edition of Foreign Affairs, the Bible of
globalists and plutocrats:
"Between 2000 and 2003 alone, foreign firms built
60,000manufacturing plants in China. European chemical
companies, Japanese carmakers, and US industrial
conglomerates are all building factories in China to
supply export markets around the world. Similarly,
banks, insurance companies, professional-service
firms, and IT companies are building R&D and service
centers in India to support employees, customers, and
production worldwide." ("The Globally integrated
Enterprise" Samuel Palmisano, Foreign Affairs page
130)
"60,000 manufacturing plants" in 3 years?!?
"Banks, insurance companies, professional-service
firms, and IT companies"?
No job is safe. American elites and corporate tycoons
are loading the boats and heading for foreign shores.
The only thing they're leaving behind is the
insurmountable debt that will be shackled to our
children into perpetuity and the carefully arranged
levers of a modern police-surveillance state.
Take another look at Cheney's investment strategy; it
tells the whole ugly story. Interest rates are going
up, the middle class is going down, and the poor
dollar is headed for the dumpster. The country is not
simply teetering on the brink of financial collapse;
it is being thrust headfirst by the blackguards in
office and their satrapies at Federal Reserve.
but it lacks solutions.
the solution is simple. Jail the bastards.
Nationalize and dismantle the monopoly of our money supply and abolish interest.
We'll have to renegotiate trade deficits to avoid war.
---------------------------------------
"Money" has no value - people do.
Interesting to note that Halliburton was booted out of Nigeria a few years back for misplacing nuclear material. They found the missing material and have been allowed to return. Also, Halliburton is said to be very involved in the Iranian gas fields.
Cheney likes to get paid well and he is not a fool - a matoid, but not a fool. Hopefuly he realizes that an attack on Iran would hurt his portfolio, because that is as close as it gets to humanity for him.