Money Matters and American Security
I have been writing for weeks that I think the greatest threat to American security is economic in nature. The mismanagement of our economy by President Bush is unparalleled in recent history. We have a dollar that is sinking faster than our legitimacy in the world. We have an economy that is even more divisive than our politics, with inequality at the highest rates since the 1920s. America is now more unequal and indebted than any moment in my lifetime. And we have a lack of regulation that is turning our current economic troubles into a long-term disaster, as our financial assets are bought up by foreign governments that could very well have motives other than profit in years to come.
Amidst all this, the administration position appears to be to beg and hope. Last week was the begging. The President went to Saudi Arabia to plead with the government there to lower their oil prices. And this week comes the hope. The Federal Reserve this morning cut interest rates by 75 basis points in the apparent hope that traders will forget the record writedowns by Wall Street and short earnings statements. But just like the economic stimulus plan, it is likely to be too little, too late.
One might ask why this is all so detrimental to our security. I think the best illustration is last week’s trip by President Bush to Saudi Arabia. He literally spent his time there begging for a cut in prices on oil and doing a sword dance with Saudi leaders. An onlooker would hardly know from Bush’s antics that this is the non-democratic country where 15 of the 19 terrorists of September 11 are from. The leaders there are despised even by many moderates in the Muslim world. And Bush is dancing with them, sword in hand. For Bush to try to promote democracy in the region while dancing around with a large sword next to his non-democratic friends from Saudi Arabia sends precisely the opposite signal we are trying to give to the region. It says we are willing to do anything, even compromise our democratic principles, for oil because our current economy is in such turmoil. And, indeed, as David Isenberg points out below, we’re even willing to sell large quantities of arms to the Saudis.
So, here’s where our increasingly unregulated and unequal economy has brought us: we’re selling non-democratic governments in the Middle East arms, while they’re buying up our banks. I’m the first to acknowledge that this is not just about economics, but we can’t begin to think clearly in our foreign policy until we get our economic house in order.
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A Letter of Introduction from T. Herman Zweibel
By T. Herman Zweibel
Publisher Emeritus (photo circa 1911)
The Onion
January 21, 2008 | Issue 44•03
The school-educated busy-bodies who manage my media properties inform me that it is almost time to appoint a new President. I almost cannot believe it is time for the suet-brained populace of this flagging Republic to be once again herded into the voting-booths to allegedly choose precisely which bloody-handed butcher will crack their bones and suck the marrow over the next few years. Futility, I say, rank and base futility! Does the grist choose the mill, the rabbit the hawk, the innocent 12-year-old Atlantic City orphan girl the lusty mob of beefy, drunk, vacationing coal-oil sales-men? They do not, and neither do the Citizens choose their Leaders. However, if The Onion news-paper can further the illusion that an individual vote has more potential to change the world than a lamb’s last bubbling bleat in a crowded slaughter-house—and furthermore, if we may turn a hand-some profit by doing so—than let The Onion be the Judas goat to the milling herd of democratic cattle!
I am told that our new War of the White House section will contain the vetted and censored life stories of each candidate; white-washed and simplified versions of their heinous plans to drain the life and wealth of each and every tax-payer; a schedule denoting the appearances of every aspirant, so that one may go and be covered in unspeakable fulminating lies in person instead of hearing them over the crystal-set. I should God damned well hope that there will also be prettily-colored pictures, or else the average American citizen will not be able to keep his eye on it for more than a few heart-beats, and it would be better yet if there were accompanying photos of ample heaving bosoms. Sadly, the man in the street becomes affronted whenever he feels his supposed dignity is being besmirched. Why is this? The man in the street is, for all his puffery, standing there in the God damned street!
In any case, there will also be a section on how our Democracy works, despite even the simplest boor suspecting in his secret heart of hearts that it is a sham. Which it is. I have not voted since becoming a wealthy industrialist, having figured out some time ago that it is much wiser to employ the organ grinder than vote for the monkey. Still, I hope this special section is of some amusement to all. I understand that one of the candidates is campaigning in a dress this year, and yet another in a minstrel’s blackface, which I must say was unexpected; but as long as there are no Catholics on the ballot, I see no reason to summon the marksmen.
Now get back to work!
Comment on January 23, 2008 @ 10:50 pm
[...] We’re now 9 months into the Obama administration and, on a number of fronts, I think our country is more secure. Most of all, Obama has set a new tone in our relations with the world. But I continue to see our greatest source of our insecurity — our economy — as suffering from a failure of governmental leadership. [...]
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