The Crash of Western
15/09/08 "ICH" -- - “Train-wreck” doesn't even begin to describe what is
starting to happen to the U.S. today with the financial crisis,
an onrushing depression, and the failure of George W. Bush's war
policy as he is faced down by Iran and the Russian bear.
But in an even broader sense, the West, as a civilization, after
a century of world war and the utter failure of global finance
capitalism, may have reached its limits.
Those with a vested interest in the status quo dismiss any
suggestion that something is wrong. This includes Donald Luskin,
author of an article in the Washington Post on Sunday, September
14, titled: “A Nation of Exaggerators: Quit Doling Out That Bad
Luskin writes, “The relentless drumbeat of pessimism in the
media and on the campaign trail” is “a virus.”
He continues: “Sure, there are trouble spots in the economy, as
the government takeover of mortgage giants Fannie Mae and
Freddie Mac, and jitters about Wall Street firm Lehman Brothers,
amply demonstrate. And unemployment figures are up a bit, too.
None of this, however, is cause for depression -- or exaggerated
Continue reading, and you find out who Luskin is: a campaign
adviser to John McCain.
We know that “where you stand depends on where you sit”—and who
pays you for advice. So is a catastrophic meltdown coming?
If so, probably a majority of the people in the world are
thinking: “Serves them right.” For the last 500 years, the West
has been striding across the globe, armed to the teeth with
firearms, warships, bombers, and—more recently—depleted uranium,
enforcing the “white man's burden” by enslaving nations and
peoples and confiscating everything of value—ranging from art
objects to gold to oil—that can be carried away.
The financiers behind it all have also used the diabolically
clever practice of creating money “out of thin air” to put the
natives everywhere into debt, and, when that has proven
insufficient, of doing the same to their own populations.
All this is rationalized by various brands of racism, cultural
superiority, social Darwinism, historical determinism, “dominion
of the Elect,” “God's chosen people,” etc. Or, simply, “might
Some call it “The New World Order.”
So today, we Americans, denizens of the “land of the free and
the home of the brave,” victors in two world wars, bearers of
“democracy” to Afghanistan and Iraq, allies of the brave
Israelis who hold high the banner of Judeo-Christian values
among the ungrateful Palestinians—well, we Americans owe our own
bankers almost $70 trillion at most recent count. With the
government takeover of Fannie Mae and Freddie Mac, we owe
holders of bad housing loans, including the governments of
China, Korea, and Japan, another few trillion.
The bluster of Kissinger, Brzezinski, the Kristols, the
Christian fundamentalists, and their paid-off politicians and
media millionaires notwithstanding, America—indeed, the entire
West—has been found out, perhaps even checkmated on the world
The Bush/Cheney wars in Afghanistan and Iraq have blackened
America's name forever. Iran has called our bluff. In Israel the
gap between rich and poor is increasing as much as in the U.S.
According to an article by Ian S. Lustick, the Palestinians have
stood up to the Israelis to the point where more Jews are
emigrating from that country than are moving in, and where those
who remain are increasingly huddling around Tel Aviv as a safe
haven. (Ian S. Lustick, “Abandoning the Iron Wall: ‘Israel and
the Middle Eastern Muck',” Middle East Policy , Vo. XV, No. 3,
In the 1990s, the European bankers used U.S. and NATO forces to
dismember Yugoslavia so George Soros and the Rothschilds could
gobble up Balkan resources. But that strategy is failing in the
Caucasus, where the Russians fought back against the genocidal
attack by Dick Cheney's poodle, Mikheil Saakashvili, the New
York-trained attorney the CIA got elected as the president of
And now the people of Ukraine, the “Little Russians,” realizing
what the West has in store for them, are rushing back into the
Slavic fold and may be only a year or so away from reuniting
with their “Great Russian” cousins across the border.
What is telling is to watch the Western financier press, chiefly
the Washington Post and the New York Times , fume about Russian
prime minister Vladimir Putin and his “authoritarian” manner. An
example is the article by Times correspondent Ellen Barry on
Putin's September 11 press conference in Moscow. She wrote, “In
three-and-a-half hours, in tones that were alternatively
pugilistic and needy, Vladimir V. Putin tried to explain
I'm sorry, Ms. Barry. You and your editors may think your
writing is cute, but Vladimir Putin is the foremost figure on
the world stage today. He will remain so after George W. Bush
leaves the White House disgraced.
Putin is heir to an epochal movement of patriots who began in
the 1970s to take back Russia from within. It started with a
base of operations within the KGB and the Orthodox Church, led
to Gorbachev's glasnost in the 1980s, and culminated in the
Second Russian Revolution of 1991. At that point, the Western
financiers gleefully rushed in to support an assault from the
Russian “oligarchs” who were looting Russia of everything it
The oligarchs were the shock troops of a financier assault that
had already begun to overlap in the West with the Russian Mafia.
Cheered on by the Washington Post and aided by academic advisors
from places like Harvard, this international syndicate nearly
destroyed Russia during the 1990s. But when Putin was appointed
interim president by Boris Yelstin in 1999, and after winning
the presidential election of 2000 in his own right, he began to
From the mid-1970s to today, thousands of Russian gangsters,
along with many hard-line Bolsheviks/Stalinists, were allowed to
emigrate. Many settled in the U.S. and are here today, and many
more settled in Israel. In fact, one reason the price of condos
in New York, Miami, Tel Aviv, and elsewhere has inflated so much
reportedly is the flood of cash from racketeering.
The crooks have allied themselves with the Colombian drug
cartels and have heavily infiltrated the world's financial
systems, even setting up their own banks for laundering money
and speculating in the commodities markets.
Today, Putin is cleaning out the remaining gangster class. His
efforts reached a milestone in January with the arrest in Moscow
of Semion Mogilevich, called “the world's most dangerous man.”
Putin has declared that the world will not be governed in a
“unipolar” manner; i.e. by the U.S. military as the police force
for the global financiers. This does not mean Russia has to be
our enemy. In fact the world would be much better off, and much
safer, if we joined with Russia as allies in keeping the peace.
But to do that our system would have to change, because finance
capitalism is far too unstable to coexist with other nations as
equals. It must either grow or die, because it always needs new
victims to pay the interest on its usury practices and to
finance its speculative balloons. As a last resort, it needs the
kind of financial institution bailouts being engineered by
Secretary of the Treasury Henry Paulson, where the only
remaining stopgap is borrowing from public funds and adding to
the national debt.
Once economic growth stops, as has now happened, and all the
bubbles to restart it have blown up, as has also happened, the
end really is nigh. Especially if the host—the U.S.—is bankrupt.
What is coming at us today isn't just another downturn. If
people like McCain adviser Donald Luskin doubt it, maybe,
instead of writing campaign propaganda, they should ask the
fired CEOs of Fannie Mae and Freddie Mac, the stockholders of
Lehman Brothers, whose shares have dropped ninety percent in
less than a year, and the millions who are losing their homes.
Presidential candidates Barack Obama and John McCain are calling
for “change.” Well, if I were standing on a beach with a
100-foot tsunami roaring in my direction, I would call for
change too. Except I would not be standing around arguing about
the meaning of the words “lipstick on a pig.”
By Richard C. Cook
Copyright 2008 by Richard C. Cook
Richard C. Cook is a former U.S. federal government analyst,
whose career included service with the U.S. Civil Service
Commission, the Food and Drug Administration, the Carter White
House, NASA, and the U.S. Treasury Department. His articles on
economics, politics, and space policy have appeared on numerous
websites. His book on monetary reform entitled We Hold These
Truths: The Hope of Monetary Reform will be published soon by
Tendril Press. He is also the author of Challenger Revealed: An
Insider's Account of How the Reagan Administration Caused the
Greatest Tragedy of the Space Age , called by one reviewer, “the
most important spaceflight book of the last twenty years . ” His
Challenger website is at www.richardccook.com . A new economics
www.RealSustainableLiving.com is upcoming with
partner/author Susan Boskey. To get on his mailing list, for
questions and comments, or to pre-purchase copies of his new
book, please write
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