Economic Growth Chosen Over National Autonomy?


A nation borrowing its way toward financial insolvency is not staging an economic recovery even when GDP picks up and the stock market rises. Some people talk about the “recovery of growth” like it is the ultimate goal of American life. What is this recovery that we supposedly need? It is nothing but debt facilitated GDP growth and asset inflation to create a built-in reward for leveraged mega-investors. That’s how Wall Street banks “create” the money to pay big bonuses.

Money manipulated growth widens the gap between the haves and have nots. So, why is an allegedly “populist-to-liberal” administration fighting for it? Is Paul Farrell correct that this administration, like the preceding one, fails to understand the unfolding Shakespearean drama?

A country’s financial autonomy is a big price to pay for the recovery of growth. Since the country must eventually align its spending with its income, why not do it now before international bankers have our backs to the wall? Why let our imbalances come to a sovereignty crisis where the electorate will be left with few cards to play in determining the terms of our survival as an autonomous nation-state?

If elites would put the question in fair terms, the American response would not be ambivalent: ‘Would you rather have economic growth or national financial autonomy?’ Most patriotic Americans will vote to put national liberties ahead of economic growth (i.e., “recovery”). On the other hand, Wall Street capitalists with little affinity for America’s religious and cultural traditions will choose economic growth. Many of them want national partitions to crumble so as to facilitate the dominion of capital everywhere throughout the world. Voters need to understand that elites in both parties are positioning the majority of Americans to lose big.

If a constitutional amendment required American taxpayers to pay quarterly tax bills on all the White House initiatives of the last 20 years, we would sober up fast. As Irwin Keller explains in his “no free lunch” essay, we’ve become deceived into thinking we can spend freely with few consequences. Our behavior is absurd! When the day of reckoning arrives there will be no recourse to palatable solutions. Every solution will feel like the terms of reparation laid upon Germany after WWI. We will rudely discover we’ve lost big in a global financial war.

We’ve been so distracted by the war on Islamic terror that we’ve failed to understand the war of money terrorism. Money repackaged by central banks and elite banking institutions serves as the global equivalent of ICBMs and battlefield nuclear devices. America is being conquered not by tanks, planes and subs but by strategic assault vehicles of financial warfare. Every year as we borrow our way further into so-called “recovery,” we are losing thousands of square miles of American soil to foreign ownership. The real America is shrinking, not recovering. Put that antithesis of “recovery” on a map and Americans would be shocked into action.

We’ve mortgaged this country to the Federal Reserve and foreign lenders. We’re buying this economic recovery with the currency of our national economic independence. If Americans don’t arise to get that message through to the President and U.S. Congress, the American military’s war against terrorism will be in vain. It is not Islamic aggressors who will end up owning us but devious powers that understand how to wage war with greater agility and stealth. Enemies of republican liberties within and without not seen by the television masses are not well fought off. This is the type of vulnerability attractive to those actuated by exploitative goals.