The US owes the world. The US "superpower" cannot even finance its own domestic operations, much less its gratuitous wars except via the kindness of foreigners to lend it money that cannot be repaid.The US will never repay the loans. The American economy has been devastated by offshoring, by foreign competition, and by the importation of foreigners on work visas, while it holds to a free trade ideology that benefits corporate fat cats and shareholders at the expense of American labor. The dollar is failing in its role as reserve currency and will soon be abandoned.When the dollar ceases to be the reserve currency, the US will no longer be able to pay its bills by borrowing more from foreigners.
Paul Craig RobertsRelated topics
able american borrowing competition corporate currency dollar domestic economy expense failing fat finance foreign free ideology importation kindness labor lend less longer money pay reserve role trade via while work world superpower offshoring owes operationsRelated quotes
Labour should be robust in supporting free and democratic trade unions throughout Europe, in championing a balance of interests in corporate governance and strong civic self-government with a deep partnership between universities, cities and firms. The question is whether being part of the EU hinders this. Britain is already outside the Eurozone and the Schengen agreement. It is gratuitous to remain part of a political union that is so hostile to diversity and democracy and so disposed to the consolidation of big capital that it has become a remorseless machine for the liberalisation of trade and the disintegration of society, in which the demand for liquidity has dissolved solidarity.
Maurice Glasman, Baron Glasman
The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on... Western governments tax their citizens to fund the World Bank, lend this money to corrupt Third World dictators who abscond with the funds, and then demand repayment which is extracted through taxation from poor Third World citizens, rather than from the government officials responsible for the embezzlement. It is in essence a global transfer of wealth from the poor to the rich. Taxpayers around the world are forced to subsidize the lavish lifestyles of Third World dictators and highly-paid World Bank bureaucrats who don't even pay income tax.
Ron Paul
The colonization of the Southern economy by capitalists from the North gave lynching its most vigorous impulse. If Black people, by means of terror and violence, could remain the most brutally exploited group within the swelling ranks of the working class, the capitalists could enjoy a double advantage. Extra profits would result from the superexploitation of Black labor, and white workers' hostilities toward their employers would be defused. White workers who assented to lynching necessarily assumed a posture of racial solidarity with the white men who were really their oppressors. This was a critical moment in the popularization of racist ideology.
Angela Davis
Well, Al Gore invented the Internet and he won a Nobel Peace Prize. He didn't have any help with his science, right? In other words, he had two other scientists with him. He took the Nobel Peace Prize. He didn't share it with the guys who probably were the brains. He's a big fat elitist pig. He's a limousine liberal. In fact, An Inconvenient Truth is garbage. It's bullsh*t. No kid, nobody who's going to change the world is going to look at that thing, yet he got a Nobel Peace Prize because he's on the inside. He's part of the elite. He's part of the conspiracy of the corporate, the bureaucratic and the labor elite. And look at him. He looks like a big puffed out piece of pompous shit.
Lloyd Kaufman
You can't have a government like this without an income tax, but we don't want a government like this. This is not the type of government that was designed by the founders of the country. This is not what was written in the Constitution. We've only had an income tax since 1913. But if you want a welfare state, and if you want to police the world and pay for the defense of Japan and Germany, give foreign aid to the Soviet Union. You not only need the income tax you need the Federal Reserve to print up the money when the deficit is accumulated. So we think that government should be smaller. If government is small, then you don't need the income tax.
Ron Paul
