Warfare continues to become more professional and dehumanized every day.

The purpose of Extraordinary Edition is being revisited for winter, headed into 2013. U.S. foreign policy, Central Asia and the Middle East remain key focal points. Economics and culture on your front doorstep are coming into focus here.

Thursday, March 4, 2010

Why the National Deficit, Why Now?

Ellen Brown writes for Truthout.org March 3 new austerity measures for working and out-of-work Americans are not as directly related to the outside influence of foreign investment as one might think.


"What the president seems to have missed is that all of our money except coins now comes into the world as "red ink," or debt. It is all created on the books of private banks and lent into the economy. If there is no debt, there is no money; and private debt has collapsed. This year to date, US lending has been contracting at the fastest rate in recorded history. A credit freeze has struck globally; and when credit shrinks, the money supply shrinks with it. That means there is insufficient money to buy goods, so workers get laid off and factories get shut down, perpetuating a vicious spiral of economic collapse and depression. To reverse that cycle, credit needs to be restored; and when the banks can't do it, the government needs to step in and start "monetizing" debt itself, or turning debt into dollars."

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