Dave Hodges

More About: Economy - Economics USA

The Economic Collapse of 2009 (Part One)

In the United States, credit swap derivatives created national debt totals of over one quadrillion dollars. That is one thousand trillion dollars! The entire GDP of the planet is estimated at $66 trillion dollars. And somehow, in the infinite wisdom of Congress, we falsely and naively believed that a $750 billion transfer of wealth (i.e., bailout) was magically going to save the economy and the collective futures of the American middle class.  In short, the debt created by futures speculation is approximately 16 times greater than the sum total of the entire wealth on the planet! And we think we are going to climb out of this?


The bailout is enough, just enough, to float the economy through the 2009 presidential inauguration. The placebo effect of the anticipated widespread public hope, which will be fueled by the Obama inauguration, may push the inevitable economic crash out another 30 days, but not much further. America is living on both borrowed money and borrowed time.  


The present bail out (i.e., the public theft of our collective private assets) will not save your job, your mortgage or your pension. If the bailout was going to preserve anything but the bottom line of the international banksters, then ask yourself why NORTHCOM is constantly conducting riot suppression activities. What does NORTHCOM and the Government know that most Americans do not know with regard to what lies ahead?


The bailout is nothing but a power play which provided the means for the Treasury Secretary (i.e., the treasury czar), the former head of Goldman Sachs, Henry Paulson, to gain absolute power over the economy. Does any well-informed person think that Obama is going to bring about real change? Where is Obama’s new Treasury Secretary coming from?


Meet the new boss, the same as the old boss. The new Treasury Secretary elect, Timothy Geithner, is the President the New York Fed. And what about Clinton’s chief financial advisor, Larry Summers who has now resurfaced in the Obama administration? Summers and Robert Rubin, another Goldman Sachs colleague, in conjunction with Paulson, undermined the Glass-Steagall Act during the Clinton administration. The Glass-Steagall Act resulted from Depression era policies which wisely prohibited banks from becoming insurance brokers and engaging in other unsavory practices such as participating in the credit swap derivatives ponzi schemes. If Rubin and company had not convinced Clinton to scrap Glass-Steagall, we might not be on the precipice of economic disaster. In short, we have the same crew applying the same screws.  


“Yes we can (bring about change)” shouted the Obama supporters on the evening of November 4th. The only change that Americans are going to see with an Obama presidency is the measly change left in their pockets after this puppet’s de jour and his merry band of gangster banksters are done fleecing the American public. Do you remember when Congress asked Henry Paulson where $2 trillion missing dollars disappeared to and he arrogantly replied “it is none of your business.”  The international bankers now have complete control over our economy without any oversight from congress


The Fed, the engineer of the current economic collapse, is engaging in what could be called the "Bernanke Two Step.” The only two solutions that “Helicopter Ben” keeps coming up with is to, first, downwardly adjust interest rates which have effectively slipped to zero percent.  Please ask yourself, what is the dollar really worth when you can borrow on it interest free? The second half of the Bernanke Two Step” is to recklessly increase the money supply. The Fed is currently doubling the money supply every six weeks! These are not solutions; they are only delaying the inevitable. Two weeks ago the dollar was worth $1.24 against the Euro. Two weeks later, the dollar is worth only $1.47 against the same Euro. Additionally, American consumers have $15 trillion dollars of credit card debt and we don’t even know for sure how much the government is in debt given the recent theft of trillions of dollars courtesy of our self-anointed economic czar (i.e., Henry Paulson and his secret handshake friends). The best estimates of our national debt range from $12 trillion to $15 trillion dollars. We are quickly approaching a Weimar Republic type of hyperinflation in which it will take a wheel barrow full of money to purchase a mere loaf of bread. The dollar is indeed tanking!


America, your country has been conquered in a masterful coup de tat and most Americans are not even aware of it.


We are in the midst of the The Greatest Depression in world history.
How bad will it get?   


Dave Hodges is a psychology and statistics instructor as well as a college basketball coach. He is also the host of the radio talk show, The Common Sense Show, which airs on over 50 stations, on satellite and world wide on the internet. Dave's show airs on Sunday evenings from 9-11PM Central time. The Common Sense Show can be accessed live at http://republicbroadcasting.org/. The shows are archived at http://republicbroadcasting.org/index.php?cmd=archives.month&ProgramID=61&year=8&month=12&backURL=index.php%253Fcmd%253Darchives.getyear%2526ProgramID%253D61%26year%3D8%26backURL%3Dindex.php%253Fcmd%253Darchives

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