Is 'Impossible' for the US To Implode, Right Up to the Moment It Happens
Jack D. Douglas
by Jack D. Douglas: You
Can't Trust Official Statistics
Catastrophes seem impossible until the day they become reality.
If people took them seriously, they would act to avoid them.
think his friend Brutus would join others one lovely day in Rome
to cut him up? Did Romans think the Empire could finally fall? Did
the Greatest Empire the world had seen think a small nation of upstart
peasants with no army could defeat the mighty Red Coats? Not until
the day it happened at York Town and the world turned upside down.
Did Americans believe the people who were screaming that Pearl Harbor
was wide open to attack by Japanese carriers after FDR forced the
Navy to move from San Diego to Pearl? Not until that fateful Sunday
morning. Did the U.S. believe a small peasant nation could defeat
the Greatest Empire the world had ever seen and lead its Embassy
staff to flee in panic in helicopters from the roof?
I believe there
was only one person who believed a catastrophic attack on the World
Trade Center was going to happen. That one guy believed it would
happen because of the first attack on the Center years earlier.
But he went there that day anyhow and got killed. A sister-in-law
of one of my daughters was a bond saleswoman in the small, nearby
building that imploded. She knew it was possible because she was
there in the first attack. As soon as she heard a crash, looked
out and saw the smoke from one of the Towers high above her, she
grabbed her purse, ran downstairs and got a cab home in Manhattan.
She was saved by believing it could and was happening.
The Great Depression
1 was impossible to almost everyone. Ditto for Depression 2. Greenspan
and Bernanke said any great financial crisis was impossible in the
modern world, so they let it happen in spite of the yelling and
screaming of me and a lot of other analysts.
I spent about a half hour watching a brilliant discussion by Steve
Leason of CNBC, Sens. Bowles and Simpson and CEO Blankfein of Goldman-Sachs
about this Great Crisis. The Goldman-Sachs CEO put the catastrophic
danger of the soaring U.S. debts very nicely. He said that the U.S.
is now dependent for half of its annual budget on borrowing, half
from Americans and half from foreigners. He said right now they
are lending freely, but they are not stupid and know there is great
risk in buying U.S. long Treasuries at 1.7% for 10 years when the
government is sinking into debt faster and faster, with the power
to inflate and send their bond values crashing. He said it all looks
great until one day, all of a sudden with no warning, the music
stops and the bond market comes crashing down. Did you believe the
Soviet System would implode one day and the Wall would be torn down
by the people in the streets? Did you believe Lehman would implode
over one weekend, thus imploding the whole top of the U.S. financial
system in a few days after that?
Now the same
Bozos tell us the Implosion of the U.S. is impossible. It is, until
the day it happens.
D. Douglas [send him mail]
is a retired professor of sociology from the University of California
at San Diego. He has published widely on all major aspects of human
beings, most notably The
Myth of the Welfare State.
© 2012 by LewRockwell.com. Permission to reprint in whole or in
part is gladly granted, provided full credit is given.
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