Comments: The Brain Of The U.S. Overclass Works Sloooooooooooowwwwwwwwwwly

Great, great post.

Though the fourth paragraph should begin "Now, a mere six years later...", yes?

Posted by Nell at October 19, 2008 05:15 PM

Our decline probably started around the time of Tonkin Gulf, even if it wasn't immediately apparent. The overclass couldn't care less about the US as long as they have their fancy houses and Bentleys and security systems. Remember how eagerly Kent Brockman welcome the "new insect overlords", and pointed out how as a "trusted TV personality" he could help round up others?

I know Henry "the Chinese connection" Kissinger is a bit less fictitious, but it's reasonable to assume his psychology works the same way, along with the rest of the CFR crowd...

Posted by Jonathan Versen at October 19, 2008 05:47 PM

The fact that Kissinger is out on the streets and not in prison shows that no one has learned OUR needed hard lessons. Don't worry though, WE WILL.

Posted by Mike Meyer at October 19, 2008 06:00 PM

Greider and Soros, but Chalmers Johnson and Bill Lind among others as well. LIke the crash itself, with Roubini, Taleb, Engdahl etc first among lots of equals, or Iraqi WMD with Scott Ritter and Michael Scheuer and many more plainly stating what a crock it was well in advance - the info was there, qualified people drew the correct conclusions and went public with them. And were ignored.

Those Americans never miss an opportunity to miss an opportunity.

'Our decline probably started around the time of Tonkin Gulf,'

Ann Berg at Antiwar the other day traces the money problem back to Vietnam: 'the one that gave us the fiat monetary system: the war in Vietnam. Prior to that calamity the world operated under the Bretton Woods monetary system, a post-World War II arrangement that pegged all currencies to the dollar and made only the dollar convertible to gold, thereby ensuring the dollar's reserve currency status. During the 1950s, the system seemed invulnerable as U.S. gold reserves exceeded foreign liabilities by threefold. By 1970, however, as the U.S. inflated its money supply to fund the Southeast Asian conflict, the monetary position of the U.S. reversed, with foreign liabilities exceeding gold reserves fivefold. When France demanded gold for dollars at the statutory rate of $35/oz., President Nixon shut the gold window for good. As a result, currencies went from a fixed to a floating (and pegged) rate system in 1973. It has vexed economists ever since.'

Posted by Glenn Condell at October 19, 2008 06:29 PM

Capital knows no allegiance. If the US provides its military power to protect and exploit parts of the world to the benefit of this or that corporation, what matter if it eventually bankrupts the US, as long as another source of military power becomes available.

Posted by Bob In Pacifica at October 19, 2008 11:00 PM

Bob in Pacifica: EXACTLY, corporations of the 2big2fail type will ALWAYS desire and need large armies to project their agenda and reap their handsome profits. Its just they don't want to PAY for said armies. They leave THAT to the suckers=U&I.

Posted by Mike Meyer at October 19, 2008 11:56 PM

Sweet.

Posted by Monkay at October 20, 2008 12:04 PM