Real Wealth Society

Sunday, September 10, 2006

The trouble with globalism By SB Kayser

America's debt experience is not unique, the problem is widespread. Over the last to 15 years or so, several economic meltdowns have taken place. In
Asia, Mexico, Russia, Argentina come to mind. They all share similarities though: mad speculation, irrational exuberance and corruption caused by manipulations of the money supply, cheap money and the so-called bad loans.

Closer to America, the UK government is also in dire shape and Britons are too mortgaged to the hilt.

The next to go will be
America and China. And of course this will ripple through the entire planet. We may really describe what is coming as an economic tsunami.

Which will be the first going belly up is quite difficult to predict: either when the American consumers - whose savings rate has been negative for more than one year - stop spending and ultimately will decide when the Chinese demise must occur. Or China - and others in concerto - when the country will dump America's debts. Ever heard of the musical chairs game? Last August 22, one could read a
Reuters article talking of China's true level of public debt which is more than four times the official figure. Beijing "actively tries to hide the amount of indebtedness," a Chinese official said.

Gloablization - trade between nations -has always existed but what we see today has nothing to do with globalization.
It is globalism, an ideology of absolute domination consisting in bankrupting countries, take over and plunder their resources while acting under the guise of altruism.

The WTO is an axis of evil that must be terminated for the sake of mankind. And it is the right moment to so. Although on life support because the globalists haven't said their final words,
this fascistic organization is now on its death bed practically, many see the beginning of its end.

But the fight starts first at home, by spreading the word and setting up small community debates.The elites and monetarists currently in power can no longer save the Titanic.


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