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Sunday, October 24

George W Kerry

George W Kerry

In a recent issue of Foreign Policy, Moises Naim
argues that John Kerry will be virtually
indistinguishable from George Bush, should Kerry win
the election. Geez, you don't need to be a rocket
scientist to figure that out. George Bush and John
Kerry are about as indistinguishable as the ties they
wore in the 3rd debate. I mean, they are both Yalies,
both Skully-Bastards and both are products of the very
Military-Industrial Complex that Eisenhower warned the
USA of.

"They" own both sides of this debate and have chosen
virtually identical candidates to run in the election.
The whole premise of the US election is that voters
actually have a choice; they don't, because the two
options are exogenously determined by the money power.
Keeping the populace divided over Left/Right or
Dems/GOP keeps them from questioning the whole
assumption underlying the election. Nobody asks: "Do
we really have a choice?". As previously stated, it's
like choosing between getting raped and getting raped
right now. Either way, you are screwed, since there IS
NO choice. And that's besides the fact that eggs of
embedded code in the Deibold voting machines could
steal the election. Without the hanging chads, we
won't necessarily know WHO stole the election this
time around.

As Moises states:

"All recent U.S. presidents have learned the hard way
that, despite their immense power, they remain at the
mercy of uncontrollable global forces that render
their personal views and campaign promises largely
irrelevant."

Whichever candidate the Deibold voting machines pick
for the USA, one thing is clear: the selected
candidate will act on behalf of those who profit from
the War/Finance collective. The term "uncontrolable
global forces" implies a dynamic of economic
determinism. The US needs to maintain faith in its
debt pyramid, which is essentially backed by Military
force. If its military appears to falter and stumble,
bond holders are wary about the repayment of their
bonds and refuse to buy them. This is why there must
be another manufactured crisis to justify Perpetual
War. Again the US can't raise interest rates, as this
would increase the cost of borrowing. By corrolary, it
cannot devalue the debt by allowing oil-induced
inflation to erode the value of outstanding debt, or
can it?

It can't do that either, because inflation will
further devalue the Dollar and raise the cost of
imports, leaving US consumers with even less
disposable income from which to service their
mortgages. When the ability to pay falls below the
debt servicing requirement, bankruptcy ensues.
Inflation constitutes an unstable equilibrium, as
people will then demand further tax cuts, causing the
spiral to continue.

A government cannot finance expeditures by debt
forever. If taxes are low today in relation to
expenditures, then this categorically implies high
distortionary taxes in the future in combination with
budget cuts. A violation of this identity implies a
bond default. A bond purchaser will not buy a bond if
it thinks that it will not be repaid, so faith in the
State's ability to raise revenues through taxation
must be maintained.

The US is a strong state backed by the most impressive
military apparatus in the world, and if it cannot
finance the war indefinitely, then it will have to
find someone who can. Since the US is a net importer
of goods, it is literally printing money to purchase
goods from abroad: those funds cannot find
corresponding US goods in foreign nations apart from
the US dollar being used as a reserve currency for
other monies. Foreign nations can watch as the value
of their dollar holdings erode through inflation
(which accrues seignorage to the US), or they can buy
bonds and earn value: what's the economic choice here?
To buy bonds. In this way, the US is able to literally
force other nations to finance it, but they still
constitute an uncontrollable economic force exogenous
to the election altogether.

The Dollar is tanking in relation to Oil, but at 55
dollars a barrel, in real terms, it's nowhere near the
cost of oil in the 70's. The media propagates the myth
of Peak Oil as a Red Herring, as it distracts from
those who profit from war the most: those who finance
it.



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