Submitted by Rob Williams
Jim Hogue is an actor who portrays Ethan Allen. He operates a small farm in Calais, has a weekly radio program on WGDR, and works with Vermonters for Voting Integrity.
Jim Hogue’s recent radio interview with Richard Cook served as a springboard for this feature article.
In my interview with economist, author, and former U.S. government official Richard Cook, he explained that the economic collapse we see before us didn’t happen merely from greed or an over-enthusiastic faith in the American dream, as the pundits report. The collapse is part of the Reagan revolution to shrink social services, quash democracy and nationalism, and bloat the military. The leaders of this revolution (Elliot Abrams, John Negroponte, Henry Kissinger, Dick Cheney, Paul Wolfowitz, Bushes Senior and W, et al) constituted a shadow government under Carter and Clinton, surfacing from time to time in the BCCI fraud, in the Iran Contra affair, and were behind “The October Surprise.” The major players in the Iran Contra affair were protected by Lee Hamilton and John Kerry. They produced a blueprint under Clinton known as The Project for a New American Century, one that the Democrats were only too happy to bring to fruition.
Bubbles: Planning and Bursting Them
The economics of this coup took the form of planned bubbles and bursts on the one hand, and the theft of our common wealth accompanied by vast federal expenditures on the other. (Why anyone falls for that canard about Republicans shrinking government is beyond me.)
As the economy switched from real production to financial maneuverings in the 1970s, investments were made in China and Mexico. Manufacturing was sent abroad and money flowed like water in the purchase of companies in order to take advantage of cheap labor, until interest rates shot up and the bubble collapsed. That bubble was collapsed deliberately under the auspices of Paul Volker in 1979. Those in the know made out like . . . well, like bandits.
The recent housing bubble was created by lowering interest rates and was burst by raising them. Certain not-quite-elite-enough companies such as Lehman Bros and Washington Mutual were caught in the crunch as part of the predatory consolidation process.