Austerity: Showing Up at A War with No Armor

What do you do when you have a war to win and your opponent has enough nuclear hardware to wipe out everyone on this pale blue Earth twenty times over?

You fight with your economy. And China knows this.

While we argue among ourselves about the President’s love of his country – and what country that is – the Great Panda is arming itself to win the next Great War. A war that will be fought with the minds of engineers, the power of a rigged currency, the weight of over a billion citizens longing to be free – free to earn and shop, not free to think, vote and control their personal destiny.

China is now graduating more than 2 times the number of engineers than the U.S. – every year. We had Steve Jobs. China has FoxConn, the manufacturer Apple chose to make Steve Jobs’ visions of the future into physical products.

In the 1950s, we had Dwight Eisenhower, who understood how primitive and backwards the transportation infrastructure of our country was in the mid-West, Great Plains and the Rocky Mountain states. Eisenhower set this country on a path to build the Interstate highway system that is still the backbone for moving people and commerce across the United States.

China is now spending $300 billion to build a 16,000 mile network of high-speed rail by 2020 to interconnect its immense country. In the U.S., the Repugnicans have decided to kill any federal effort to build a high-speed rail network, mainly on the fact that Pres. Obama approves of the effort. 

 While China is investing heavily in rare-earth mining, education, transportation, space exploration, green energy, medicine – and now – raising the quality of life of their citizen subjects, Europe and the U.S. have come up with a different idea: Austerity.

Not the mistakes this video implies..

Austerity. The political/economic suicide pact that states we just don’t have the ability to compete anymore. We must focus, myopically, only on the federal deficit and debt and to contain and control it with only cuts to spending. And only cuts to spending on the working classes – social programs, education, transportation, healthcare. The failed belief that making the government (much) smaller, the private sector (read: their benefactors) will ignite an explosion of employment, innovation and wealth.

After a decade of giving away 99% of our economic opportunities to the 1% that already have all the opportunity they can possibly need and allowing those FatCats and international corporations to flat-line our economy through their greed, avarice and fraud, Austerity is the only answer we’re told. And by Austerity, they mean demanding that those who have less than they had 10 years ago must sacrifice what little they have left, with no sacrifice asked of those that stole the future and shoved the profits of their looting of that future into their already overstuffed pockets.

Austerity is Surrender. Not only will Austerity rob our country of the ability to educate the new warriors of the Economic War (engineers, technicians), Austerity will allow the continued deterioration of our 20th century infrastructure while our competitors invest heavily in a 21th century infrastructure. Austerity demands that we rush backwards on healthcare in this country, moving away from our Right to healthcare and devolving to an even more amoral model of a for-profit system of care that leaves those in need with dwindling options and financial burden. Austerity kills the promise of an education for those that cannot afford its rising costs, while the children of the FatCats continue to receive “legacy” admissions to colleges where the name of the institution carries more weight than the quality of the education or the educated.

 In 2010, a Repugnican front group, Citizens Against Government Waste, dropped a provocative ad that slickly showed a “classroom” in a future Chinese university, a “professor” detailing how all great Empires fail by following the disastrous plans of government intervention into the economy. Forget the fact Rome fell from the weight of their corruption and the centralizing of power and wealth into a the hands of a few (sound familiar?) and that the British Empire collapsed from the yearning of their colonies to be free of the shackles of British domination. What is most intriguing about this video is that it advocates abandoning what will save this country – robust and aggressive investment by the government - 
 from the future it depicts will lead to our defeat.

 Imagine the world if the champions of Austerity won the argument in the 1930s. Then, again – they did. In 1937, the Repugnicans convinced Pres. Roosevelt to focus on the growing deficit and debt of the federal government by cutting taxes and spending drastically. The result? A year-long recession – after a 5% rise the year before, the GNP falls 4.5% and unemployment rises from 14.5% to 19%. Austerity was an iron-weight around the neck of an economy desperately swimming against the tide and it prolonged the Great Depression.

Austerity is a surrender in the Economic War without firing a shot. With the FatCats hoarding the vast majority of this country’s wealth and refusing to lend or spend it for fear of improving the chances of a Black President, only the government is left to spark the pilot-light of our stalled economy and provide us with a fighting chance in the First Economic War of the 21st Century.

 From Why China is winning the economic war

From Stephen Leeb: Red Alert: How China’s Growing Prosperity Threatens the American Way of Life 

The video cannot be shown at the moment. Please try again later.

A better, more progressive “translation”:

The video cannot be shown at the moment. Please try again later.

Stephen Leeb, discussing China on the Dylan Ratigan Show:


Visit for breaking news, world news, and news about the economy

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>