In this edition: The World Is Different This Time - Whatever Bill Wants Bill Gets – From Everyone!
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Sludge Report #38
The World Is Different This Time
The world is different this time. I hear over and over by conservatives and contrarians that the rules of economics etc are not different today and that this financial house of cards has to soon collapse. But I contend that the rules are very much different today. When the history books are written 100 years from now they will accurately record how the rules became different in our era and time.
What is different today is the total and dominating dependence the entire world has become on the continued prosperity and well being of this country, the US of A. Where Bill Clinton has succeeded and where his real legacy will reside is in his having become successful in extending a great nipple and tit around this huge globe and literally getting everyone and there mother and brother attached to this "tit". Every country and global international leader today around this planet has a share in the continuing and ongoing prosperity of our country's economy.
Consider the Europeans and their Eurodollar. It continues to seek new lows and I contend that not a single European cares as long as he or she can continue to invest their own personal fortunes in the US, whether in the US Dollar or the US Stock market. Let the euro fall even further as long as the Bank of the US Stock Market is still accepting new applications.
Another case in point: A significant German newspaper in 2 articles recently admitted that they were convinced that the US was manipulating the gold market and contributing to keeping its price low. But in the 3rd article in the series relating to gold market manipulation the final message was very clear. The Germans, in my humble personal estimation, let it be known that they would continue to play the game according to the rules established by the US. The short of the matter is that as long as Germans are allowed to participate and to invest in the great US Financial Institution who cares if the price of gold remains manipulated.
The British have clearly shown that they are willing to bow before the great Bill Clinton and his US Market. Whatever Bill wants Bill gets. "Yes, we will sell our gold reserves as long as we are allowed to trade in your markets."
Even the Arabs are in the back pocket of Bill Clinton and the grander financial interests of the US money machine. Interesting how the prospect of a possible Jewish Orthodox President of the United States does not even stir a debate among the Arab or Palestinian population. I don't believe that Yasser Arafat himself cares about the eventual outcome of the Palestinian population or even the future state of Jerusalem as long as that US money tit continues to be available. The Arab leadership has shown a great willingness to hug a Jew any time of the day provided that brother Bill keeps the US dollars flowing in an eastern direction.
The Chinese have definitely become attached through Bill Clinton's efforts in becoming glued to the great US tit. It is in their best interest for the US financial money machine to continue doing well so that their umbilical cord to our nation will not be severed. Any hardship in the markets that came about now could jeopardize what they have already paid for. If the stock market crashed tomorrow and chaos reigned then their ties to the White House and Capital Hill might be compromised.
Peace and prosperity continue in this world because there is not a significant world leader who is not attached in some fashion to the great American "tit". Even the Russian leader Putin rushes to appear on the Larry King Show to repeat a script that could have come directly from the White House. Yes, Putin for our sakes is even becoming spiritual and he will be spiritual if that is what it takes to keep the US dollars flowing in his direction.
The American people themselves, more than anyone, have become attached to the tit of Bill Clinton. Let oil go to 100 dollars a barrel. Let housing costs double in another year. It will not matter. There will be no inflation because the American people have been told that there is no inflation by their government. And as long as the American people look at their TV screens and at the money channel and see the great DJIA riding high they will in unison turn to Washington and in joint chant all shout "Yes, there is no inflation and we are happy"!
That is Bill Clinton's true legacy and success. As long as every human soul on this planet has an interest in the US dollar and the DJIA and NASDAQ there will be every effort made even globally to keep the US Ship of Prosperity afloat. Sure, it will not stay afloat forever, but there is a real possibility that this pseudo prosperity could continue through another 8 years of a democratic administration. If Al Gore has learned and studied under Bill effectively then he too has a chance to continue the global dependence that Bill Clinton has created.
My contention is that never before in the last several hundred years of global history has an entire world become so effectively bound to the umbilical cord of one nations prosperity. As long as that link and dependence continue the odds are that this house of cards will be maintained and protected from the blowing winds of reality for a very long time.
While I do not look forward to the types of international conflict that used to be a common occurrence before the Clinton Era, I do look forward to the day when nations once again stand up and act according to their own principal and do not make their international decisions based on the script and dollar amount they are given by Bill Clinton and Alan Greenspan.
Contributed By A Reader In North Carolina, USA