The Voice of the White House
Washington, D.C., March 23, 2016: The collapse of the World Trade Center on September 11, 2001 has a parallel in the collapse of the American economy that was nearly simultaneous with it.
In this study, some of the factors in this disastrous plummet are clearly evident. Partially hubris, partially the perpetual swings of a capitalist economy, partially the criminal greed of the chief executives of almost all major American business entities, the fall, like that of Icarus who dared to venture too close to the sun, has been long and frightening.
In one sense, the great collapse of the stock market in October of 1929 has direct parallels with the economic collapse of the first years of the Millennium.
The economy had grown too large and rose too quickly. Taking advantage of the ascent, businesses expanded, loading themselves with debt that could be repaid only so long as the ascent and expansion continued.
Gravity is also applicable to economies and what goes up must certainly come down and the higher and faster it rises, the more rapid and deeper is the descent.
As we are taught by history, it is always those at the bottom ranks of the economic society that pay the largest bill. CEOs who gleefully engaged in unrestrained greed and deliberate criminal fiscal manipulations have, with rare exception, left their looted companies with huge financial rewards.
They have left tens of thousands of workers without employment and destroyed the savings and pensions of hundreds of thousands of former employees. And throughout all of this, none of these rapacious, amoral creatures show even the slightest sign of concern for the ruins they have left behind them.
Their criminal greed has created such a reservoir of disgust and distrust that it will be a long day’s journey into night before the deflated economy raises its head once more.
Most of them have no worries whatsoever about being dragged before the bar of public justice because it is a well-known truism that all American legislative bodies contain the finest men money can buy.
The largesse of such creatures as Kenneth Lay was lavishly stuffed into the pockets of such exalted public figures as the President of the United States and his Attorney General.
Small wonder that while lesser men might serve as scapegoats, those above them can retire in comfort and safety to their ranches in Texas, their beachfront homes in Florida or their immense country homes in whatever foreign countries the United States has not antagonized, threatened or subjugated.
In many ways, the tragedy of 9/11 will doubtlessly prove to be a major watershed in the history of the American people.
James Watt discovered steam power by blocking the spout of a boiling tea kettle.
The lid blew off.
“Be not deceived: God is not mocked: for whatsoever a man soweth, that shall he also reap.” Galatains 6:7 Continue Reading »