The “Noble Cause” that killed Casey Sheehan
By Mike Whitney
-- -- A lot of rubbish has been written lately about “religious
faith”. The fact is, there’s a force more powerful than faith;
the power of denial. America is drowning in denial. The majority
of people would rather brush aside the signs of disaster and
keep their heads firmly planted in the sand.
Is it really that hard to see what’s going on?
Congress just voted to spend another $92 billion for a war that
nobody wants and, yet, we don’t hear a whimper of protest from
the people. That raises the national debt to a whopping $9
trillion, every penny of which will be paid off by our children
and their children’s children. They’ll be indentured servants
until the end of time.
Do the American people care? No way. The soothing bromides from
our doltish president are enough to lull them back into their
It’s called “denial”. D-E-N-I-A-L.
Turn off the “business channel” and do some independent
research. If you’ve already figured out that the Bush
administration is fudging the numbers to make them look good;
you’re right. Walter J. Williams (Dartmouth, BA in Economics and
an MBA; economic consultant for Fortune 500 companies) has
compiled the data and found that “real unemployment is running
at 12%, real CPI (Consumer Price Index) is running at 8%, and
real GDP (Gross Domestic Product) is in contraction. The country
is already in a recession and headed for much worse.
No one with half a brain believes this can go on forever. The
Bush administration has racked up another $3 trillion in debt in
just 6 years most of it going to Bush’s well-heeled friends via
the “tax cuts”. At the same time, they’ve expanded government
spending by 30%. Now, the Congress has voted to make the tax
cuts “permanent” even though they know that it will increase
deficits by $400 to 500 billion per year. Deficit spending has
become a permanent function of government.
The only thing that keeps interest rates from skyrocketing is
the massive and “unsustainable” (Greenspan) trade deficit.
When Reagan initiated his tax cuts he produced deficits of $200
billion the first year. That pushed interest rates up to 9.5%
killing the real estate market and causing the deepest recession
since the Great Depression. Greenspan bailed him out by raising
Social Security payments (under the ruse that SS was “broken”)
and then diverting that new money into the general fund. (SS has
basically been a Flat Tax ever since) That’s right; our Social
Security dollars now pay for roads, social programs, and endless
Last year the trade deficit soared to a new high of $725 Billion
and is headed for $800 billion this year. That explains why
Dubai can afford to buy our ports, because they’re holding so
much American debt (currency and securities) China alone has
over $800 billion account surplus approximately 75% of which is
US debt and securities.
The Bush team likes this arrangement because it coincides with
their belief that national sovereignty should be transferred to
the multinational corporations. As for the rest of us , who
believe that our ports, public lands, water, and resources
should be the sovereign property of the people of the US, well,
we’re out of luck, because $3 trillion worth of those assets now
belong to China, Japan, and Saudi Arabia.
The other reason the American people haven’t felt the pinch of
excessive government spending yet, is because of the unique
relationship between the greenback and the sale of oil on the
global market. Countries are forced to keep stockpiles of US
currency in their central banks to purchase oil because oil (the
largest commodity in the world) is only denominated in dollars.
This creates a de-facto monopoly which ensures that dollars will
continue to circulate on a massive scale whether the face value
of the greenback goes up or down. (It is estimated that
approximately $2.3 trillion are constantly circulated in oil
transactions) It is the perfect confidence-game run by the
hucksters at the Federal Reserve.
Most countries would prefer to purchase oil in their own
currency (or in the more stable euro) rather than using the
greenback which is sinking under $9 trillion of debt.
Regrettably, any move to the euro is tantamount to a declaration
of war against the United States and bound to precipitate “shock
and awe-type” reprisals.
Washington will defend the “greenback-hegemony” with every
weapon in its arsenal. That’s why Iran is in the crosshairs
right now, because the threat of opening an oil exchange (that
would trade in euros) would challenge the dollar’s dominance as
the world’s reserve currency. The Bush administration will never
let that happen. An Iran Bourse would allow the central banks
around the world to ship boatloads of unwanted dollars back to
America and put the greenback into a death-spiral.
America’s economic future requires that we continue to control
this “global extortion-racket” (aka; the dollar-monopoly on oil)
while producing the humongous trade deficits which are
mortgaging our country to foreign lenders.
There’s only one problem with this scheme; the American consumer
is broke. Wages have been flat since the 1970s (in fact they
have gone down by 2.3% since Bush took office) personal savings
are at 0%, and housing prices (which generated $600 billion in
additional spending last year) have flattened out. The American
consumer represents 70% of GDP and has also been the major
engine for growth in the global economy. Unfortunately, he’s
“tapped out”, overextended and penniless.
That explains why so many corporations are packing up and headed
for more promising markets in Southeast Asia. Hell, the Bush
administration has even created tax incentives for them to
The corporate exodus from America is not simply about
high-paying, high-tech jobs evaporating. It is also about the
massive flight of capital, the exiting of corporations, and the
destruction of the manufacturing sector. Right now, the only
thing that keeps the US on its precipice is the teetering
housing market that is headed for the dumpster. When that
unravels, we’ll see why Bush devoted so much energy putting
together the nascent American police-state.
Under Bush, we’ve seen a shocking acceleration of globalization.
The major corporations have already loaded the boats, shifted
the jobs, and drained every farthing from the public till. The
Federal Reserve has cobbled together a dollar-system that allows
them to print worthless script in exchange for the wealth and
resources of foreign nations. And, the Bush team has set up
NorthCom (Northern Command) inside the country to deal with any
unruliness on the part of the masses once they discover the
country is dead broke. The plan addresses the needs of America’s
plutocrats and big-wigs while leaving the unlucky 99% of the
people to face increasing scarcity and hardship.
This is why we fight; to defend this system of corporate
larceny. This was the driving force behind the war in Iraq; to
preserve the global extortion-racket we call “dollar hegemony”.
This is the “noble cause” for which Casey Sheehan and thousands
of others have given their lives.
Its time to skip the denial and face up to it.