Pride, Prejudice, and Money Changers
Dana G. Smith
December 14, 2006
History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance. -James Madison
America has had her share of incredible profits and profiteering. That phase of our nation may be coming to a close soon. With the global community looking on, America is fast becoming a larger than life problem.
We used to make almost all our own goods. Our factories, especially during WWII put out what we needed to fight. During the baby boom era, when the parents of those boomers were working in their prime, business was good. Housing was going up, jobs were being supplied, and the distant memory of the depression was far behind. It was a new era of incredible opportunity.
Today, however, we face a much different story. It is one as is pointed out in an article by David Zielenziger , titled “US Companies Moving More Jobs Overseas”. 1
Quoting Morgan Stanley, he cites “the number of U.S. jobs outsourced to India will double to about 150,000 in the next three years. Moreover, he also relates Morgan Stanley as saying “as many as two million U.S. white-collar jobs such as programmers, software engineers and applications designers will shift to low cost centers by 2014.”
It is incredible that we are at this stage. When we first heard of US jobs going overseas, I personally wondered who would buy all the stuff if there were no Americans working. This very same thought that came to me years ago appeared in an article. Steve Dobbins, president and CEO of Carolina Mills, who supplies thread, yarn, and textile finishing’s to apparel makers (half of which go to Wal-Mart) said: “But you can't buy anything if you're not employed. We are shopping ourselves out of jobs."2
Steve Dobbins was referring to the largest retailer in the world, namely Wal-Mart. The company according to Charles Fishman, senior writer for FAST Company points out how big this company is. The highlights of what he says are this:
Wal-Mart is bigger than ExxonMobil, General Motors, and General Electric.
Wal-Mart sold $244.5 billion worth of goods last year.
It sells in three months what number-two retailer Home Depot sells in a year.
It does more business than Target, Sears, Kmart, J.C. Penney, Safeway, and Kroger combined.
Its former “Buy America” Slogan of Sam Walton now has doubled its imports from -China in the past five years alone, buying some $12 billion in merchandise in 2002. That's nearly 10% of all Chinese exports to the United States.
"Clearly," says Edward Fox, head of Southern Methodist University's J.C. Penney Center for Retailing Excellence, "Wal-Mart is more powerful than any retailer has ever been." It is, in fact, so big and so furtively powerful as to have become an entirely different order of corporate being.3
This is just one example of the power large corporations have. Today Wal-Mart does indeed bring lower prices, but at what expense? It also has the power to “squeeze-profit killing concessions”4 from vendors. In addition, US plants had to “lay off employees, close US plants in order to outsource products from overseas.” 5
The problem with going overseas is the mere fact of the wage factor. According to Alan Tonelson of U.S. Business and Industrial Council, this represents the actual problem for many in the US. These companies who go overseas “are paying Chinese wages and selling at U.S. prices, they're not creating better living standards for America." 6.
Moreover, we see many companies going overseas. The government of the US is in denial as is the financial wizards. Companies like Microsoft, Dell, IBM, and AT & T are among the biggest companies who are developing and investing overseas. CNN has a list of the companies who are going overseas. The list is called Exporting America; you can find the link here. 7
It is no wonder China has decided to move into the area of a free commerce society. It is definite moved away from the traditional Communist Ideas. As a result they will take over America without a shot. If they are making all the goods we buy, they investing their profits, how can we compete? How can the middle class survive with this betrayal of own people? No one can compete in business if the competitor is paying less in wages and selling at the same price as you. They will end up owning you. Already the figures show how close China is to breaking our US bank. According to David Bloom, currency guru at HSBC, “The US needs a trillion dollars a year just to stand still"8. Get that, a trillion dollars. How have we gotten so deep in the financial mire, so to speak? The same Mr. Bloom also predicts that the “dollar will buckle” 9.
This will bring financial crisis on America and most of the known world, especially those who trade in dollars.
China already has tremendous reserves of money. This is reported by the People’s Bank of China, which announced that its international reserves had reached the dizzying figure of $1 trillion, 70% of which is held in dollar notes and bonds. What happens when China sells off all those dollars and trades them for Euros? You guessed it, a financial nightmare. What we will see is a recession. Many expect such a downturn in 2007. How bad will it be? No one knows for sure, but some expect this to happen just like the sun will set each night. It will come.
Professor Nouriel Roubini from New York University says recession is inevitable. "People have been using their homes as their ATM machine, but many are now facing negative equity so there will be a lot of foreclosures. As the housing recession spreads to manufacturing, this is going to lead to a much harder landing than people think." 10
Jerome Corsi, in a recent article titled “Analysts: Dollar collapse would result in 'amero'”, quotes Bob Chapman saying “People in the U.S. are going to be hit hard, In the severe recession we are entering now, Bush will argue that we have to form a North American Union to compete with the Euro."
"Creating the amero," Chapman explained, "will be presented to the American public as the administration's solution for dollar recovery. In the process of creating the amero, the Bush administration just abandons the dollar." 11.
The forces in play today are heading down a road that many will not like. We have elected officials, but none of them seem to be doing anything. As we head towards 2007, a recession is likely. More likely, we will see the unwelcome ‘amero’, plus the North American Federation, and the Super Highway as well. There are forces today that unite the greed of the moneychangers with the power play of those elitists that see an opportunity to grab more of America. The problem we have today, it seems, there is little we can do about it. Add to that fact, most Americans are either too busy or not motivated enough to do anything. With that, we will get what those in power want us to get. Which, in the end, is the south end of a north bound donkey.
1. http://www.commondreams.org/headlines03/1224-07.htm
2. http://www.fastcompany.com/online/77/walmart.html, The Walmart You Don’t Know
3. IBID
4. IBID
5. IBID
6. Quote in http://www.commondreams.org/headlines03/1224-07.htm
7. Exporting America, CNN, http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/popups/exporting.america/content.html
8. http://www.hoanewsnetwork.com/media/news/economic-storm-brewing-in-america.php
9. IBID
10. http://www.hoanewsnetwork.com/media/news/economic-storm-brewing-in-america.php
11. Analysts: Dollar collapse would result in 'amero'; http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53350
America has had her share of incredible profits and profiteering. That phase of our nation may be coming to a close soon. With the global community looking on, America is fast becoming a larger than life problem.
We used to make almost all our own goods. Our factories, especially during WWII put out what we needed to fight. During the baby boom era, when the parents of those boomers were working in their prime, business was good. Housing was going up, jobs were being supplied, and the distant memory of the depression was far behind. It was a new era of incredible opportunity.
Today, however, we face a much different story. It is one as is pointed out in an article by David Zielenziger , titled “US Companies Moving More Jobs Overseas”. 1
Quoting Morgan Stanley, he cites “the number of U.S. jobs outsourced to India will double to about 150,000 in the next three years. Moreover, he also relates Morgan Stanley as saying “as many as two million U.S. white-collar jobs such as programmers, software engineers and applications designers will shift to low cost centers by 2014.”
It is incredible that we are at this stage. When we first heard of US jobs going overseas, I personally wondered who would buy all the stuff if there were no Americans working. This very same thought that came to me years ago appeared in an article. Steve Dobbins, president and CEO of Carolina Mills, who supplies thread, yarn, and textile finishing’s to apparel makers (half of which go to Wal-Mart) said: “But you can't buy anything if you're not employed. We are shopping ourselves out of jobs."2
Steve Dobbins was referring to the largest retailer in the world, namely Wal-Mart. The company according to Charles Fishman, senior writer for FAST Company points out how big this company is. The highlights of what he says are this:
Wal-Mart is bigger than ExxonMobil, General Motors, and General Electric.
Wal-Mart sold $244.5 billion worth of goods last year.
It sells in three months what number-two retailer Home Depot sells in a year.
It does more business than Target, Sears, Kmart, J.C. Penney, Safeway, and Kroger combined.
Its former “Buy America” Slogan of Sam Walton now has doubled its imports from -China in the past five years alone, buying some $12 billion in merchandise in 2002. That's nearly 10% of all Chinese exports to the United States.
"Clearly," says Edward Fox, head of Southern Methodist University's J.C. Penney Center for Retailing Excellence, "Wal-Mart is more powerful than any retailer has ever been." It is, in fact, so big and so furtively powerful as to have become an entirely different order of corporate being.3
This is just one example of the power large corporations have. Today Wal-Mart does indeed bring lower prices, but at what expense? It also has the power to “squeeze-profit killing concessions”4 from vendors. In addition, US plants had to “lay off employees, close US plants in order to outsource products from overseas.” 5
The problem with going overseas is the mere fact of the wage factor. According to Alan Tonelson of U.S. Business and Industrial Council, this represents the actual problem for many in the US. These companies who go overseas “are paying Chinese wages and selling at U.S. prices, they're not creating better living standards for America." 6.
Moreover, we see many companies going overseas. The government of the US is in denial as is the financial wizards. Companies like Microsoft, Dell, IBM, and AT & T are among the biggest companies who are developing and investing overseas. CNN has a list of the companies who are going overseas. The list is called Exporting America; you can find the link here. 7
It is no wonder China has decided to move into the area of a free commerce society. It is definite moved away from the traditional Communist Ideas. As a result they will take over America without a shot. If they are making all the goods we buy, they investing their profits, how can we compete? How can the middle class survive with this betrayal of own people? No one can compete in business if the competitor is paying less in wages and selling at the same price as you. They will end up owning you. Already the figures show how close China is to breaking our US bank. According to David Bloom, currency guru at HSBC, “The US needs a trillion dollars a year just to stand still"8. Get that, a trillion dollars. How have we gotten so deep in the financial mire, so to speak? The same Mr. Bloom also predicts that the “dollar will buckle” 9.
This will bring financial crisis on America and most of the known world, especially those who trade in dollars.
China already has tremendous reserves of money. This is reported by the People’s Bank of China, which announced that its international reserves had reached the dizzying figure of $1 trillion, 70% of which is held in dollar notes and bonds. What happens when China sells off all those dollars and trades them for Euros? You guessed it, a financial nightmare. What we will see is a recession. Many expect such a downturn in 2007. How bad will it be? No one knows for sure, but some expect this to happen just like the sun will set each night. It will come.
Professor Nouriel Roubini from New York University says recession is inevitable. "People have been using their homes as their ATM machine, but many are now facing negative equity so there will be a lot of foreclosures. As the housing recession spreads to manufacturing, this is going to lead to a much harder landing than people think." 10
Jerome Corsi, in a recent article titled “Analysts: Dollar collapse would result in 'amero'”, quotes Bob Chapman saying “People in the U.S. are going to be hit hard, In the severe recession we are entering now, Bush will argue that we have to form a North American Union to compete with the Euro."
"Creating the amero," Chapman explained, "will be presented to the American public as the administration's solution for dollar recovery. In the process of creating the amero, the Bush administration just abandons the dollar." 11.
The forces in play today are heading down a road that many will not like. We have elected officials, but none of them seem to be doing anything. As we head towards 2007, a recession is likely. More likely, we will see the unwelcome ‘amero’, plus the North American Federation, and the Super Highway as well. There are forces today that unite the greed of the moneychangers with the power play of those elitists that see an opportunity to grab more of America. The problem we have today, it seems, there is little we can do about it. Add to that fact, most Americans are either too busy or not motivated enough to do anything. With that, we will get what those in power want us to get. Which, in the end, is the south end of a north bound donkey.
1. http://www.commondreams.org/headlines03/1224-07.htm
2. http://www.fastcompany.com/online/77/walmart.html, The Walmart You Don’t Know
3. IBID
4. IBID
5. IBID
6. Quote in http://www.commondreams.org/headlines03/1224-07.htm
7. Exporting America, CNN, http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/popups/exporting.america/content.html
8. http://www.hoanewsnetwork.com/media/news/economic-storm-brewing-in-america.php
9. IBID
10. http://www.hoanewsnetwork.com/media/news/economic-storm-brewing-in-america.php
11. Analysts: Dollar collapse would result in 'amero'; http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53350
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