The era of big government is revving up. The Paulson bailout is attracting more companies to the public trough. With $250 billion earmarked for preferred stocks ($163 billion already dispensed to corporate welfare hogs like Goldman Sachs and Bank America,) the massive pork barrel has “only” $450 billion left. This will never satisfy either Congressional or corporate appetites. Look for this welfare program to grow into a permanent fascist poison in the American apple pie.
More than half of Americans feed at the public trough, that is, steal from those who work. The rest who work are slaves who also steal from one another. The $700 billion bailout adds immensely to the theft. This is an unstable arrangement that will end in the collapse of the U.S. government. When? With some probability, it could happen at any time — due to an unanticipated event involving a foreign country’s currency or financing, such as a currency collapse in Russia or Korea. With some probability, it could start in and grow as the deficits grow rapidly now and when Medicare expenditures balloon. It took about 5 years, from 1918 to 1923, for Germany to collapse. The exact timing and nature of the triggering event or events can’t be known now. The 1997-1998 Asian crisis was warning 1. The current crisis, which may suddenly grow worse at any time despite the current respite, is warning 2. There may not be a warning 3. The international monetary system is falling apart. Even if the system totters on for awhile, the growth will be anemic.
