Nagas (Reptilians) vie with Asuras (Titans) for financial dominance (Image: Asian bill)
Stock Market down 777 points
WQ editorial
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It seems foreign leaders were right that Financial Armageddon is upon the U.S. economy. Congress has rejected an across the board bailout, and Wall Street suffered its biggest setback to date. The Mortgage Crisis is touching everyone that to the extreme greed (lobha) of a few and the general greed of the many. President Bush inherited a budget surplus and not only squandered it, using war and civil rights abuses as his banner, he ran up the nation's debt to its highest point ever. Now trillions of dollars in debt (money which needs to be serviced, i.e., interest paid on it to billionaires and foreign nations and transnational banking concerns).
Washington Mutual has gone in the wake of Fannie Mae and Freddie Mac (preceded by IndyMac) -- for a total of 11 major institutions failing. And today along with the DOW, which lost a record 777 points, Wachovia Bank has also failed. Subprime loan defaults are not at the root of all problems. Greed is. But the entire financial system, and perhaps the corporate capitalist mentality behind it (although it's verbotten to say so), is ultimately at fault.
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The nations of the world look on, seeing their own stock exchanges plunge. And at least one, Iran, has spoken truth to power. Because we as a nation hate Iran (and the Middle East in general), Americans have dismissed the warnings. But the American public is speaking up to representatives NOT to approve any kind of socialist-bailout. If we're capitalists, then the market must save itself through market principles or be allowed to fail.
Meanwhile, the nation remains in the morass of illegal wars (under the Bush Doctrine of preemptive attacks on non-aggressors artfully using revenge for 9/11 and Weapons of Mass Destruction as the pretext). And on the home front, civil rights and personal liberties are flying out of the window in the name of "homeland security."
Whether a new Depression is upon the nation or if "1984" is being ushered in under the guise of financial collapse and endless war, the Zeitgeist is worrisome and in need of a deep explanation. Watch Zeitgeist the Movie (http://www.zeitgeistmovie.com/), which explains high finance and religious complicity (including popular Buddhism used by nation states to promote very non-Buddhist ideas) in the impending problem.
- Cheerful daily 20 min. roundup of financial news: Marketplace (American Public Radio)
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