Who is the most influential 'truthmaker'in the world today?
My vote goes to the press secretary for POTUS. After all, he would never lie ... right?
Who do you think?
Thursday, April 29, 2010
Tuesday, April 27, 2010
Thank you Mr. Bryant ...
... and to Mr. Scott Rosenberg I say, bloggers are the modern day reincarnation of the 19th century muckrakers. Some of their methods are sensational and irresponsible and they surely intend, as did their grandfathers (John Steinbeck, Lincoln Steffens, Ida Tarbell, David Graham Phillips, Ray Stannard Baker, Samuel Hopkins Adams, and Upton Sinclair), to stir up public opinion as it is that very opinion that moves the heart, mind and soul to action.
Without the competition of the muckrakes, the mainstream press would continue to degenerate into the "1984" mouthpiece of the brave new world lapdog. So to Mr. Rosenberg and his ilk I say, please retire quickly as the chains of servitude to the 'truthmakers' ensconced about your neck are weighing too heavily on the rest of us.
Without the competition of the muckrakes, the mainstream press would continue to degenerate into the "1984" mouthpiece of the brave new world lapdog. So to Mr. Rosenberg and his ilk I say, please retire quickly as the chains of servitude to the 'truthmakers' ensconced about your neck are weighing too heavily on the rest of us.
Monday, April 26, 2010
A Free Press? Where's the money?
Why is the press so easily cowed, manipulated and coerced into submission?
1. In previous times, being a news reporter fell into two categories:
a. The town crier. This person was hired by the government to make announcements regarding public safety and news the government felt the people needed to know. This was a good safe and secure job as long as you did not let your opinion in anyway interfere with the 'official' view.
b. The rumor mill. These people were the sneaky busy bodies that made it their business to spread the bad and selacious gossip on everyone. This job really wasn't a job at all. More like a hobby. It often led to broken noses, death threats and a bad image in the community.
2. It cost money to put out the news. Where to get it and what do they want for it?
In ages past, the proclamation, a paper 'town crier,' was pasted on or tacked to a wall, door or other publicly accessible place or handed out on the street. It was paid for by the government and regularly disparagingly refered to as propaganda. Money wasn't a problem and the only editorial view was the official line.
The 'rag' or rumor mill was put out by hobbyists with an ax to grind or grievances against whatever and who ever. It was paid for by the hobbyist and his (no her) friends. It was often distributed in secret and posted to walls, often placed surreptitiously overtop the official sheet. If you were found in possession of said rag you were often beaten, jailed, shot or otherwise frowned upon. It was financially independent of everyone but the close knit group that put it out and lasted as long as their fortitude, fortune or life.
The muckraking press of the 1900's, especially in New York was an exaggerated example of this where the hobbyist was Hearst and the writers dedicated idealists and/or thrill seekers even in the face of great personal danger, with papers and offices often burned by the outraged and reporters beaten or killed - not usually by the government.
3. Today and the 'free' press.
Where does the term 'free press' come from and what does it mean? "A press not restricted or controlled by government censorship as to politics or ideology." Notice the definition says nothing of support by or access to the government (kind of like 'freedom or religion').
A free press allows you to print your views on anything without the government stomping on you. This was a hard fought right granted in the Bill of Rights to the American people. Not to the British, French, Japanese or any other. For those groups it is still an ideal, but not a right. Those dedicated reporters, as in yesteryear are few and far between, and like in ages past (being somewhat suicidal) have a tendency to get killed while their weak willed cowardly colleagues stay in cushy offices and do great imitations of 'town criers'.
So, "how goes it America? Is the press still free?" Why yes it is. In fact it's booming: newspapers large and small, blogs, tweets and all sorts and manner to let the world know you’re there.
Really? Sure, if you can afford to print it and you have no fear of losing your job by offending someone who could otherwise make your life hell (not the government of course), you can tell it to the world.
What happened? Why don't reporters ask probing questions? Why don't they write inspired undercover stories exposing the ills of society like their brothers of 100 years ago? Why are present day reporters just sitting in their office writing stories from wire services? Easy answer: Points one and two as above, paraphrased:
1. Writing real news is dangerous and hard work done by dedicated hobbyists who are willing to risk everything for the dedication or thrill. It is ever so much safer to imitate a town crier and get your news from the official wire.
2. Real news is written by publications and reporters, bloggers, etc who have the money from like minded people with the resources to ignore pubic and advertiser’s opinions or are willing to risk what they have for the thrill or dedication to an ideal.
The government is under no obligation to help you and it is not supposd to hinder you. If you depend on the government or anyone else for money you can't very well complain when they tell you they don't want you to print something and if you do they won't give you any more money. And if in your zeal, you steal someone's property or secrets just to get a jump on a story for your own self-satisfaction, you should not be surprised if they are upset about it and seek redress.
1. In previous times, being a news reporter fell into two categories:
a. The town crier. This person was hired by the government to make announcements regarding public safety and news the government felt the people needed to know. This was a good safe and secure job as long as you did not let your opinion in anyway interfere with the 'official' view.
b. The rumor mill. These people were the sneaky busy bodies that made it their business to spread the bad and selacious gossip on everyone. This job really wasn't a job at all. More like a hobby. It often led to broken noses, death threats and a bad image in the community.
2. It cost money to put out the news. Where to get it and what do they want for it?
In ages past, the proclamation, a paper 'town crier,' was pasted on or tacked to a wall, door or other publicly accessible place or handed out on the street. It was paid for by the government and regularly disparagingly refered to as propaganda. Money wasn't a problem and the only editorial view was the official line.
The 'rag' or rumor mill was put out by hobbyists with an ax to grind or grievances against whatever and who ever. It was paid for by the hobbyist and his (no her) friends. It was often distributed in secret and posted to walls, often placed surreptitiously overtop the official sheet. If you were found in possession of said rag you were often beaten, jailed, shot or otherwise frowned upon. It was financially independent of everyone but the close knit group that put it out and lasted as long as their fortitude, fortune or life.
The muckraking press of the 1900's, especially in New York was an exaggerated example of this where the hobbyist was Hearst and the writers dedicated idealists and/or thrill seekers even in the face of great personal danger, with papers and offices often burned by the outraged and reporters beaten or killed - not usually by the government.
3. Today and the 'free' press.
Where does the term 'free press' come from and what does it mean? "A press not restricted or controlled by government censorship as to politics or ideology." Notice the definition says nothing of support by or access to the government (kind of like 'freedom or religion').
A free press allows you to print your views on anything without the government stomping on you. This was a hard fought right granted in the Bill of Rights to the American people. Not to the British, French, Japanese or any other. For those groups it is still an ideal, but not a right. Those dedicated reporters, as in yesteryear are few and far between, and like in ages past (being somewhat suicidal) have a tendency to get killed while their weak willed cowardly colleagues stay in cushy offices and do great imitations of 'town criers'.
So, "how goes it America? Is the press still free?" Why yes it is. In fact it's booming: newspapers large and small, blogs, tweets and all sorts and manner to let the world know you’re there.
Really? Sure, if you can afford to print it and you have no fear of losing your job by offending someone who could otherwise make your life hell (not the government of course), you can tell it to the world.
What happened? Why don't reporters ask probing questions? Why don't they write inspired undercover stories exposing the ills of society like their brothers of 100 years ago? Why are present day reporters just sitting in their office writing stories from wire services? Easy answer: Points one and two as above, paraphrased:
1. Writing real news is dangerous and hard work done by dedicated hobbyists who are willing to risk everything for the dedication or thrill. It is ever so much safer to imitate a town crier and get your news from the official wire.
2. Real news is written by publications and reporters, bloggers, etc who have the money from like minded people with the resources to ignore pubic and advertiser’s opinions or are willing to risk what they have for the thrill or dedication to an ideal.
The government is under no obligation to help you and it is not supposd to hinder you. If you depend on the government or anyone else for money you can't very well complain when they tell you they don't want you to print something and if you do they won't give you any more money. And if in your zeal, you steal someone's property or secrets just to get a jump on a story for your own self-satisfaction, you should not be surprised if they are upset about it and seek redress.
Hatoyama ... who?
When the prime minister of Israel went to DC he experienced the displeasure of the Obama administration. He and his team were left alone in the Roosevelt Room to try to come up with a plan that would make the US happy, while Obama went home for dinner.
Hatoyama on the other hand, never made it even close to the White House, let alone to the Roosevelt Room. Hatoyama was so ignored that the best he could do was meet with America's official fuel pump attendant. I wonder if they talked about the price of oil? What else could you talk about at that level?
It seems that Mr. Hatoyama gave a very important speech at the Nuclear Security Summit, a 'keynote address,' but the problem is, nobody and I do mean NO body knows about it.
Reading the tea leaves, I would say it is probably a good time to either execute the Okinawa Treaty - or dump Hatoyama and start apologizing to the US for being a bad boy. Otherwise it could get rather cold out here in Asia.
Hatoyama on the other hand, never made it even close to the White House, let alone to the Roosevelt Room. Hatoyama was so ignored that the best he could do was meet with America's official fuel pump attendant. I wonder if they talked about the price of oil? What else could you talk about at that level?
It seems that Mr. Hatoyama gave a very important speech at the Nuclear Security Summit, a 'keynote address,' but the problem is, nobody and I do mean NO body knows about it.
Reading the tea leaves, I would say it is probably a good time to either execute the Okinawa Treaty - or dump Hatoyama and start apologizing to the US for being a bad boy. Otherwise it could get rather cold out here in Asia.
Surprised? I think not.
Hey Mr. and Mrs. Alien and all the kiddies, please go home.
Arizona just passed, and the governor signed into law, a massive headache for President Obama. They didn't really pass a 'new' law. They just reminded everyone of the old law. If you are in the country (any country) illegally you are commiting a crime and you should go the way of all criminals. You are not an undocumented worker, you are a criminal.
If you enter a country illegally or overstay your visa, what happens? If I went to Mexico and overstayed my visa what would happen to me? If I tried to get a job in Japan without a proper work visa, what would happen? Please don't try to tell me these 'human rights' demonstators in Phoenix are ignorant of this.
Perhaps the United States and Mexico should just sign a treaty much like the European Union which says citizens of either country can freely live and work in either country as they choose.
Until then adiós, sayonara and have a nice trip home.
For those of you who object to this law, and call the officers who enforce it racist, try this on for size:
Instead of the undocumented resident climbing over the border fence (they already did) and illegally entering the country owned and supported by its citizens; the person climbed over the fence into your backyard and when you came home from work you found him and his family sitting at your kitchen table eating your food? They then informed you that they are undocumented residents of this house. If you call the police to have them removed you are a selfish racist.
The fact of the matter is, if the social engineering Democrats stay in power, this residential situation is likely to soon happen as the 'white rich selfish racists' (ALL white people) will be required to give up their unused living space to those in need. Sounds harsh, but it may actually be more fair than the present living arrangements. Choose your three families while you still have a choice.
Arizona just passed, and the governor signed into law, a massive headache for President Obama. They didn't really pass a 'new' law. They just reminded everyone of the old law. If you are in the country (any country) illegally you are commiting a crime and you should go the way of all criminals. You are not an undocumented worker, you are a criminal.
If you enter a country illegally or overstay your visa, what happens? If I went to Mexico and overstayed my visa what would happen to me? If I tried to get a job in Japan without a proper work visa, what would happen? Please don't try to tell me these 'human rights' demonstators in Phoenix are ignorant of this.
Perhaps the United States and Mexico should just sign a treaty much like the European Union which says citizens of either country can freely live and work in either country as they choose.
Until then adiós, sayonara and have a nice trip home.
For those of you who object to this law, and call the officers who enforce it racist, try this on for size:
Instead of the undocumented resident climbing over the border fence (they already did) and illegally entering the country owned and supported by its citizens; the person climbed over the fence into your backyard and when you came home from work you found him and his family sitting at your kitchen table eating your food? They then informed you that they are undocumented residents of this house. If you call the police to have them removed you are a selfish racist.
The fact of the matter is, if the social engineering Democrats stay in power, this residential situation is likely to soon happen as the 'white rich selfish racists' (ALL white people) will be required to give up their unused living space to those in need. Sounds harsh, but it may actually be more fair than the present living arrangements. Choose your three families while you still have a choice.
Sunday, April 25, 2010
Hugs and Kisses, bye bye ... and don't come back.
Should the US be shown the door and told to shove off? To Guam or the moon for all the Okinawan's care. Why not? The excuse some lame ass military officer spouted that the marines need to be there to secure North Korea's nukes was quite a load. So why not wave them off? It would save Hatoyama's bacon. The Okinawans would raise a statue to him. Win win.
Ah, but then there are those very untimely reports of Chinese subs and planes buzzing around Okinawa. More than 150 miles from the Japanese coast, right? International waters, yes? Wait a minute, they were closer than 150 miles from Japan (Okinawa). Weren't they? Okinawa IS part of Japan right? Japan thinks so. The rest of the world assumes so. What does China think? The 'take the long view' Chinese. The guys who say Taiwan and Tibet are intregal parts of China. Who do they see the Ryukyu Islands belonging to?
History lesson: prior to the Japanese invasion in 1609, Okinawa and Ryukyu Islands were a tributary kingdom of China. Fearing this relationship, it wasn't until 1872 that Japan annexed the country outright. This did not sit well with China who basically accussed Japan of occupying Chinese territory. The Japanese may have thought they pulled a fast one over on China (like they did in Korea prior to 1905) but the Chinese were not fooled and just bided their time. Well, their baacck!
Do you really want to send the marines packing Mr. Hatoyama?
Ah, but then there are those very untimely reports of Chinese subs and planes buzzing around Okinawa. More than 150 miles from the Japanese coast, right? International waters, yes? Wait a minute, they were closer than 150 miles from Japan (Okinawa). Weren't they? Okinawa IS part of Japan right? Japan thinks so. The rest of the world assumes so. What does China think? The 'take the long view' Chinese. The guys who say Taiwan and Tibet are intregal parts of China. Who do they see the Ryukyu Islands belonging to?
History lesson: prior to the Japanese invasion in 1609, Okinawa and Ryukyu Islands were a tributary kingdom of China. Fearing this relationship, it wasn't until 1872 that Japan annexed the country outright. This did not sit well with China who basically accussed Japan of occupying Chinese territory. The Japanese may have thought they pulled a fast one over on China (like they did in Korea prior to 1905) but the Chinese were not fooled and just bided their time. Well, their baacck!
Do you really want to send the marines packing Mr. Hatoyama?
Did you hear the shoe drop?
What is a reserve currency and is it important to me?
Is the concept of a reserve currency still valid, outmoded, or a dangerous ploy to guarantee hegemony over the people of the world by one country? Is it all of the above and a system the world as a whole can no longer afford?
What is a reserve currency - in simple terms? The anchor banks and merchants the world over use to enable you and me to drive a BMW from Germany, eat peanuts from Africa while watching baseball on a big screen TV from Japan. That is when we are not in the office typing on our assembled in China, made by Dell America, sold in Norway computer.
Reserve currencies are as old as, well, for us, the Denarii; and as current as that funny ‘Euro’ looking new Ben Franklin.
But, what about tomorrow? That is a very big question. Why are we even asking the question? Also a good question. What does it involve? Trust, security, power … and the desire of people to hold and value a piece of paper that otherwise has the intrinsic value of – well, toilet paper.
The country that controls the reserve currency determines whether or not you eat cake or moldy barley rice. It controls trade, production, consumption and your well being.
For nearly three hundred years the British Pound was god. It was the reserve currency. It was the prima facie of rulers, traders and would be movers and shakers. If you wanted something you’d best have Pounds or evidence of a way to get them. With it you were king; without, a pauper. So cool that the whole world revolved around a little island previously only famous for raving red head naked crazy guys running around hitting everyone with sticks. (they still do, by the way). How could this happen? Thank you Queen Lizzie (the first one) and her pirates. They, by hook or crook, swindled and swiped every piece of gold the Spanish had and mineral laden property anyone else had. Once that was done, the Brits had a big fleet, the pirates became capitalists and the raving red heads created the Bank of England and the corporation. What does all that add up to? Control.
Control of what? Did the British produce anything? Not so much. Did they buy anything? Like buggies and candle stick holders? Not a lot. But they DID control the means of transportation and means of payment. Nothing went nowhere least it went through a British port or via a British ship or by way of permission of the British navy. Because of this and their ability to capitalize (great word) on every new idea – remember all the wannabes wanted to be in England and with it new ideas and even newer ideas of how to get and keep more money. Sound familiar Wall Street?
So, what happened? How and why did the British loose it all? (Isn’t it strange that we are now in the reign of QE II?) Well, it wasn’t really her fault. It was Tweedle(incredibly)DUM (Chamberlin) and Tweedledee (Hitler) that did it. It wasn’t so much what they did to England that brought the cards down; but what they did to America.
Huh? For lack of seemingly any other option, America became the safe harbor during WWII. Not Canada or India (both part of the empire); but the US. This was really fortuitous for us but suicide for the British. America became the new ‘England’ – in fact, many times over.
So, World War II, America’s hit and run on the world. Safely insulated away on a humungous island; beyond the reach of any enemy (physical or economic), the USA chugged along as the production plant of the world. How could a country deep in depression, no army, no navy and no recognized currency take over the world within six years?
Simple answer, England and France, owners of literally two thirds of the world and 90% of the gold reserves begged America to build and sell arms. Can’t do it says Wiley Coyote Roosevelt, no money. Well, to cut a long story short, England and France made a deal, saved their skins but lost their shorts to America, now the proud new holder (not yet owner) of everything worth anything in the whole world. Safely tucked away in America’s vaults was the gold of the world. Happily puffing away industry pushing out everything from Tanks to baby carriages and equally happily puffing away on their cigars, were a new generation of capitalist bankers in New York, the great grand cousins of those wild red heads from Scotland.
Where was the reserve currency of the world now?
Well Britain of course right? They thought so but got a very rude shock when as the war ended they tried to reassert their hegemony and the US said, like h*ll you will and threatened (in a friendly way of course) to bury their economy and through the new Breton Woods agreement; not so much an agreement as a demand from the new landlords (the USA) to pay up or shut up to the former empires. So the US became the new reserve. A great idea. Rich powerful country … basicly nice guys in pin strip suits willing to lend everyone money after the war in order to buy … what? Coke of course. America was the only engine pumping out everything a body could want. We got rich, built big houses, big cars, ate big dinners and did everything – big. Life is as it should be … what happened?
Fast forward fifty years:
America after the war was the new promised land. All the wannabes now wanted to be in New York. Everyone else wanted what Americans had. How to get it? Basically they couldn’t. Why not? No dollars. How to get dollars? Move to America? If you had a second cousin in Chicago maybe. Rob a bank? No dollars in the bank, just your worthless local currency. What to do? (do you hear the shoe coming yet?)
If you want dollars you need to build something Americans are willing to buy. Cheaper then Americans can make it. But how? America was flooding the after war markets with cheap goods, what can we do? What happened? Countries raised tariffs against US goods to protect their new industries. The US didn’t care, its local market was huge. These new foreign companies started to grow under this local protection and asked for ‘favored nation’ status so its products could enter the US tariff free. What is ‘favored nation’? A hold over from the old imperial system to protect members of the empire. Who were members of the American Empire? Western Europe and Japan. Those counties directly holding Communism back from America’s door. Sounds good, eh? Good for Europe and Japan, but as America will find out – a slower form of suicide than practiced by England and France.
American industries were now competing with cheaper foriegn products at home. Dollars were flowing out of America faster than a broken fire hydrant. What to do? Raise tariffs to protect our industry from those dasterdy upstarts of course, right? Aah, ... no. We instead moved our production facilities out of America to China (etc) in order to better compete. Logical (only to crazy people). No problem right?
Our consumers are still buying like crazy and dollars are the world currency. No problem, right?
More and more countries are becoming rich producers and consumers in their own right, with good strong currencies of their own. The Euro, the Yen, the Yuan, the Won … this is a good thing right?
The American military is being used as the world’s police force with American troops all over the world spreading more and more dollars everywhere. This is good, yes … yes?
Do you hear the shoe dropping yet?
So, you have a rich lazy complacent country wishing to buy anything it can to make life easier, passing out dollars like there is no end in sight, shedding the means of producing goods to make those dollars back off onto other countries who are hungry to make money so they can also have the good life. The people in those countries are bending over backwards to study and work hard thinking up new ideas to make money to have a better life.
While at the same time Americans are losing their jobs, going deeper in debt and are no longer able to buy more of the good life.
Is the American dollar still the reserve currency, or did the shoe already drop and America, like the British before them, just didn’t hear it.
Is the concept of a reserve currency still valid, outmoded, or a dangerous ploy to guarantee hegemony over the people of the world by one country? Is it all of the above and a system the world as a whole can no longer afford?
What is a reserve currency - in simple terms? The anchor banks and merchants the world over use to enable you and me to drive a BMW from Germany, eat peanuts from Africa while watching baseball on a big screen TV from Japan. That is when we are not in the office typing on our assembled in China, made by Dell America, sold in Norway computer.
Reserve currencies are as old as, well, for us, the Denarii; and as current as that funny ‘Euro’ looking new Ben Franklin.
But, what about tomorrow? That is a very big question. Why are we even asking the question? Also a good question. What does it involve? Trust, security, power … and the desire of people to hold and value a piece of paper that otherwise has the intrinsic value of – well, toilet paper.
The country that controls the reserve currency determines whether or not you eat cake or moldy barley rice. It controls trade, production, consumption and your well being.
For nearly three hundred years the British Pound was god. It was the reserve currency. It was the prima facie of rulers, traders and would be movers and shakers. If you wanted something you’d best have Pounds or evidence of a way to get them. With it you were king; without, a pauper. So cool that the whole world revolved around a little island previously only famous for raving red head naked crazy guys running around hitting everyone with sticks. (they still do, by the way). How could this happen? Thank you Queen Lizzie (the first one) and her pirates. They, by hook or crook, swindled and swiped every piece of gold the Spanish had and mineral laden property anyone else had. Once that was done, the Brits had a big fleet, the pirates became capitalists and the raving red heads created the Bank of England and the corporation. What does all that add up to? Control.
Control of what? Did the British produce anything? Not so much. Did they buy anything? Like buggies and candle stick holders? Not a lot. But they DID control the means of transportation and means of payment. Nothing went nowhere least it went through a British port or via a British ship or by way of permission of the British navy. Because of this and their ability to capitalize (great word) on every new idea – remember all the wannabes wanted to be in England and with it new ideas and even newer ideas of how to get and keep more money. Sound familiar Wall Street?
So, what happened? How and why did the British loose it all? (Isn’t it strange that we are now in the reign of QE II?) Well, it wasn’t really her fault. It was Tweedle(incredibly)DUM (Chamberlin) and Tweedledee (Hitler) that did it. It wasn’t so much what they did to England that brought the cards down; but what they did to America.
Huh? For lack of seemingly any other option, America became the safe harbor during WWII. Not Canada or India (both part of the empire); but the US. This was really fortuitous for us but suicide for the British. America became the new ‘England’ – in fact, many times over.
So, World War II, America’s hit and run on the world. Safely insulated away on a humungous island; beyond the reach of any enemy (physical or economic), the USA chugged along as the production plant of the world. How could a country deep in depression, no army, no navy and no recognized currency take over the world within six years?
Simple answer, England and France, owners of literally two thirds of the world and 90% of the gold reserves begged America to build and sell arms. Can’t do it says Wiley Coyote Roosevelt, no money. Well, to cut a long story short, England and France made a deal, saved their skins but lost their shorts to America, now the proud new holder (not yet owner) of everything worth anything in the whole world. Safely tucked away in America’s vaults was the gold of the world. Happily puffing away industry pushing out everything from Tanks to baby carriages and equally happily puffing away on their cigars, were a new generation of capitalist bankers in New York, the great grand cousins of those wild red heads from Scotland.
Where was the reserve currency of the world now?
Well Britain of course right? They thought so but got a very rude shock when as the war ended they tried to reassert their hegemony and the US said, like h*ll you will and threatened (in a friendly way of course) to bury their economy and through the new Breton Woods agreement; not so much an agreement as a demand from the new landlords (the USA) to pay up or shut up to the former empires. So the US became the new reserve. A great idea. Rich powerful country … basicly nice guys in pin strip suits willing to lend everyone money after the war in order to buy … what? Coke of course. America was the only engine pumping out everything a body could want. We got rich, built big houses, big cars, ate big dinners and did everything – big. Life is as it should be … what happened?
Fast forward fifty years:
America after the war was the new promised land. All the wannabes now wanted to be in New York. Everyone else wanted what Americans had. How to get it? Basically they couldn’t. Why not? No dollars. How to get dollars? Move to America? If you had a second cousin in Chicago maybe. Rob a bank? No dollars in the bank, just your worthless local currency. What to do? (do you hear the shoe coming yet?)
If you want dollars you need to build something Americans are willing to buy. Cheaper then Americans can make it. But how? America was flooding the after war markets with cheap goods, what can we do? What happened? Countries raised tariffs against US goods to protect their new industries. The US didn’t care, its local market was huge. These new foreign companies started to grow under this local protection and asked for ‘favored nation’ status so its products could enter the US tariff free. What is ‘favored nation’? A hold over from the old imperial system to protect members of the empire. Who were members of the American Empire? Western Europe and Japan. Those counties directly holding Communism back from America’s door. Sounds good, eh? Good for Europe and Japan, but as America will find out – a slower form of suicide than practiced by England and France.
American industries were now competing with cheaper foriegn products at home. Dollars were flowing out of America faster than a broken fire hydrant. What to do? Raise tariffs to protect our industry from those dasterdy upstarts of course, right? Aah, ... no. We instead moved our production facilities out of America to China (etc) in order to better compete. Logical (only to crazy people). No problem right?
Our consumers are still buying like crazy and dollars are the world currency. No problem, right?
More and more countries are becoming rich producers and consumers in their own right, with good strong currencies of their own. The Euro, the Yen, the Yuan, the Won … this is a good thing right?
The American military is being used as the world’s police force with American troops all over the world spreading more and more dollars everywhere. This is good, yes … yes?
Do you hear the shoe dropping yet?
So, you have a rich lazy complacent country wishing to buy anything it can to make life easier, passing out dollars like there is no end in sight, shedding the means of producing goods to make those dollars back off onto other countries who are hungry to make money so they can also have the good life. The people in those countries are bending over backwards to study and work hard thinking up new ideas to make money to have a better life.
While at the same time Americans are losing their jobs, going deeper in debt and are no longer able to buy more of the good life.
Is the American dollar still the reserve currency, or did the shoe already drop and America, like the British before them, just didn’t hear it.
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