Is Cheney betting on Economic Collapse?
By Mike Whitney
Clearing House" -- -- 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
Reasonable people can dispute that Bush is “intentionally” skewering
the dollar with his lavish tax cuts, but how does that explain
It doesn’t. And, one thing we can say with metaphysical certainty is
that the miserly Cheney would never plunk his money into an
investment that wasn’t a sure thing. If Cheney is counting on the
dollar tanking and interest rates going up, then, by Gawd, that’s
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.
This is the onset of stagflation; the dreaded combo of a slowing
economy and inflation.
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
“60,000manufacturing plants” in 3 years?!?
“Banks, insurance companies, professional-service firms, and IT
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.
Welcome to Bush’s 21st Century gulag; third world luxury in a
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.
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