Nexus - 1601 - New Times Magazine-pages

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Death of the American Empire and Economy Continued from page 26 By mid-October, the Dow, the ever-present enemy and thus the NASDAQ and S&P 500 had erased all military—industrial complex continued control over spiralling prices during the gains made over the previous to grow. Only when there is a war the past few years, almost squarely decade. Greenspan's pyramid scheme does America profit. Russia will not laid on the shoulders of Saudi Arabia of easy money from nothing resulted tolerate a New Cold War build-up of alone. When, in September 2008, in a massive overextension of credit, ballistic missiles. And the Middle OPEC (Organization of the Petroleum inflated housing prices and incredible East has seen its historical ally turn Exporting Countries) sought to stock valuations, achieved because into its worst nightmare, be it maintain higher prices by cutting investors would never withdraw their militarily or economically. No longer production, it was Saudi Arabia that money all at once. But now it was will these nations continue to support voted against such a move at the crashing at breakneck speed, with no _ the dollar as the world's currency. expense of its own revenue. solution in sight. The world's economy is no longer Europe then decided that no more _— President Bush said that people America's to control, and the United would it be ruined by the excesses of ought not to worry at all because States is now indebted to the rest of America. "Olde Europe" may have "America is the most attractive the world. had enough of being dictated to by the destination for investors around the |= No more will the US be able to USA, which refused to compromise globe". demand that its largest Middle Eastern on loans given to broken European — Those who will hurt the most are the oil supplier open up its banking books nations after World War II. very men and women who helped the _ so as to be transparent and free from On 13 October, the once-divided country grow after World War II and corruption and terrorist connections, European Union nations unilaterally saved their pensions for retirement lest there be consequences—for the agreed to an emergency rescue plan due now. They had built the country biggest act of criminal corruption in totalling US$2.3 trillion. It was more during the war production years, history has just been perpetrated by than three times greater than the US making its weapons and arms for the United States. It was the best con package for a catastrophe that global conflict. game in town: get paid well for America alone had created. During the Cold War, the USSR was _ selling vast amounts of risk, then fail control over spiralling prices during the past few years, almost squarely laid on the shoulders of Saudi Arabia alone. When, in September 2008, OPEC (Organization of the Petroleum Exporting Countries) sought to maintain higher prices by cutting production, it was Saudi Arabia that voted against such a move at the expense of its own revenue. Europe then decided that no more would it be ruined by the excesses of America. "Olde Europe" may have had enough of being dictated to by the USA, which refused to compromise on loans given to broken European nations after World War II. On 13 October, the once-divided European Union nations unilaterally agreed to an emergency rescue plan totalling US$2.3 trillion. It was more than three times greater than the US package for a catastrophe that America alone had created. 80 ¢ NEXUS www.nexusmagazine.com DECEMBER 2008 — JANUARY 2009