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The U.S. Is Headed for Revolution, as Debt Slaves Whisper Treason

Politics / US Politics Oct 21, 2011 - 04:26 AM GMT

By: Bill_Bonner

Politics

Nothing much from the markets yesterday. The Dow fell 72 points. Gold went down $5.

Meanwhile, the Occupy Wall Street (OWS) movement goes on in America. And 70,000 Greeks “clash with police,” say the news headlines.


People are upset. They know something is wrong. But they don’t know what. The real explanation is too complicated. They won’t sit still for it. So, they look for scapegoats – the rich…the banks…the Chinese.

There’s a joke making its way around the Internet. Goldman Sachs has decided to try to profit from the OWS protests. They’ve set up a “Rage Fund” that will invest in companies that make police batons, pepper spray, bandages, and glass windows.

It’s a joke. But it may turn out to be a good investment strategy.

We’ve made a number of big predictions here in The Daily Reckoning. Some of what we’ve foreseen has actually come to pass – the crash of the tech bubble…the collapse of the housing market…the Great Correction. Some of what we’ve forecast has not yet happened. Some never will.

But here is our most audacious forecast yet: the US is headed for ruin and revolution. The revolution will almost certainly be put down, violently. But the ruin cannot be stopped.

Yes, dear reader, the empire is following its natural course…with the zombies in control and the debt slaves whispering treason. It can’t afford enough bread to keep the popolo minuto (the little people) happy. It will be forced to get tough on them. It is only a matter of time before the secret police round up the ringleaders and disappear them. Heck, the Obama government has already decided that it has the power to kill citizens without any due process of law. What’s to stop it from killing lots of them?

A friend of ours in Argentina explains:

“Everybody is very critical of the generals in Argentina for putting down the radicals in the ’80s. But they had to do it. These guys were kidnapping people. Robbing banks. Murdering people. I was still at school then. I remember that the father of a friend of mine was kidnapped and killed. The police came to school and took the kid away to protect him. They had to do something. The country was sinking into chaos.”

The US will have to do something too. At least, that’s the way most people will see it. It will be “at war” with its malcontents. When you declare a state of war – as demonstrated by the Bush and Obama regimes – you can get away with anything.

The US will continue its program of circuses overseas too. It would make much more sense to bring the troops home and shore up the nation’s finances. But empires don’t back up. And they always manage to find some jackass to lead them where they need to go – to their own destruction. (More below…)

Today, the revolution is a simmering cauldron of greasy misunderstandings and unappetizing conceits. But the fire beneath it is real. It is the heat given off by a system that no longer works.

The New York Times reports that whole cities are now underwater. Millions of Americans are drowning:

The United States has a confidence problem: a nation long defined by irrational exuberance has turned gloomy about tomorrow. Consumers are holding back, businesses are suffering and the economy is barely growing.

Read the rest of the article

Bill Bonner
The Daily Reckoning

Bill Bonner [send him mail] is the author, with Addison Wiggin, of Financial Reckoning Day: Surviving the Soft Depression of The 21st Century and Empire of Debt: The Rise Of An Epic Financial Crisis and the co-author with Lila Rajiva of Mobs, Messiahs and Markets (Wiley, 2007).

http://www.lewrockwell.com

    © 2011 Copyright The Daily Reckoning, Bill Bonner - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Ernie Messerschmidt
21 Oct 11, 10:33
banks not scapegoats

"Today, the revolution is a simmering cauldron . . . the fire beneath it is real. It is the heat given off by a system that no longer works."

You've got that right. But when you say, "they look for scapegoats – the rich…the banks…the Chinese" you've got it wrong. The rich and the banks are problem. Everything is run by and for them, and this doesn't work. Banks need to be run as public utilities for the public interest, as economist Michael Hudson says. They are the parasitic monkey on the system's back that is riding it into the ground.


Paul
21 Oct 11, 18:22
Consumers

Given the rapidly dwindling number of Americans without access to money, then perhaps its time to stop calling them "consumers" and start treating them as "People".


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