A number of significant economic statistics were announced yesterday: inflation hit a 71/2 year high; consumer earning power declined 3 1/2% from last year; and home foreclosures rose 55%.
Fueling these economic fires has been the soaring cost of the Iraq war and occupation.
Using credit cards, American taxpayers bought huge amounts of stock in Corporate America‘s colonization of Iraq. After 5/12 years, the stock has depreciated dramatically, the cards’ principal, interest, and penalties have been reset to infinity, and margin calls are expected shortly.
Analysts following the company say the stock’s collapse is due to a number of factors: deterioration of good will in the American brand; soaring energy and consumer prices; the devaluation of the American dollar and the attendant difficulties of securing future financing; and, looming down the road, the forced sell-off of private and national American assets.
It’s like watching an economic train wreck in slow motion. But there is a silver lining. Given the huge toll that Iraq and Afghanistan has had on the Pentagon‘s military readiness and the attendant deterioration of the American dollar, there’s simply insufficient political, military or financial or resources available to support the necons’ future imperial expansion plans. (Said with fingers crossed.)
The karma principle of causality continuity is…very close to the truth of the repercussional synthesis of all time-space actions in the Deity presence of the Supreme. -The Urantia Book