( – promoted by buhdydharma )
“Liquidate labor, liquidate stocks, liquidate the farmers.”
So Treasury Secretary Andrew Mellon advised Herbert Hoover in the Great Crash of ’29.
Hoover did. And the nation liquidated him – and the Republicans.
Say what you will about Pat, and I disagree with him probably 75% of the time, when he’s on, he’s on. The reality of our current situation is that we can’t afford the empire any more. Capitalism, which our current neoliberal version has shown to be a failure, needs ever expanding markets to succeed. The anvil of capitalism has been our military might. Now, with the collapse of our form of capitalism, we can’t afford to keep up our mighty empire. Don’t feel bad. It happend to Rome and to England.
Pat goes on to point out that we may be facing our first trillion dollar deficit (well, that is if everything’s kept on the books, which it won’t be). He points out that it’s unlikely that social programs will bear the brunt of cuts due to the recession/depression. Which leaves the military. The military’s asking for $450 billion more over the next five years. Only a fool would give it to them.
The article is a good read, and well worth the time it will take to do so. Also, while you’re there, take a look at antiwar.com, the internet’s leading antiwar site. If you don’t like Pat, there are a myriad of writers to read. If you find the site to your liking, why not drop them some monetary support (I’ve donated the last two fund drives). When it comes to being antiwar, it’s not a left-right split.