Friday, 29 January 2016

U.S. Debt $19 Trillion and Counting…

The USA is saddled with a $19 trillion debt and it is counting. Statistics show that all empires over the centuries have suffered this fate and as a result collapsed from economic fatigue.

The United States of America is going over the top and heading to decline largely because of its overstretch of the military industrial complex. The US has well over 1,000 military bases around the world.

In a public lecture in Canada’s capital on January 23rd, titled ‘Does history repeat itself?’ Bulgarian-born political science Professor Ivaylo Grouev of the University of Ottawa addressed an audience of 60.

Monies that are urgently needed for the repair of crumbling infrastructure, health care, affordable housing, education, science and dealing with climate change are just not there because of twisted priorities that are leading the country to the brink of disaster.

Professor Grouev focussed sharply on this one variable because he found it was one of the critical ones for explaining the collapse of empires over the centuries.

The discussion that followed after the lecture and on the internet showed that the one variable theme was indeed dumbfounding and scary. Will the US continue on its doomed hegonomic path or will it reform and change its course from being a super power to that of a regional state? That is the trillion dollar question.

Public reaction varied from outstanding material (‘very important data to have’) to that of denial and excuse of needing ‘a balanced’ debate with other factors. This ‘balanced debate’ appears to be an excuse for being politically correct and being afraid to shake up the status quo. For some, to question US as a world bully is ‘rank heresy’. It is time to speak truth to power.

Image saved from financialsensearchive.com
on Pinterest.com and U.S. color changed to red.

Following feedback and comments, Professor Grouev responded:

'Thank you for your feedback and comments. I agree with you — the lecture was too long and unfortunately at the expense of the Q&A section. I also agree that there are many important questions to be analysed while discussing the rise and fall of empires and hegemonic powers. The list is long, however, just a few elements: decline in morals and values, political corruption, agricultural/economic decline, inflationary spiral, level of unemployment, the role of the colonial elites, military spending/military overstretch.

'My lecture was about the last variable, namely (a) Is the current US military overstretch leading to economic weakness, yes or no, in my mind yes, and (b) In the context of the neo-liberal model, is the tax base in the US eroding as a result of the competition coming from China (etc), yes or no? In my mind yes.

'These two variables can provide a satisfactory answer as to how long the uni-polar moment may last. Based on the data on excessive military spending I may argue — not that long. Of course things may change, US may become again a powerful regional, however not a global power as it used to be in 19th century, after the Monroe doctrine. It is known that all empires have their expansion and contraction phases. In my humble opinion the answer to your 19 trillion question lay with Asia, more specifically with China.

'Hope this may help.'

We now come back to the question, ‘Does history repeat itself?’ What do you think?

George Bernard Shaw once stated: ‘We learn from history that we learn nothing from history.’

Tariq Ali, British, Pakistani historian said: ‘We live, after all, in a world where illusions are sacred and truth is profane.’

This is only a summary of a large, but important topic for our world community. Let's respect the truth as sacred.

More
  1. Andrew Bacevich. ‘The Top Six Global Threats the Presidential Candidates Are Never Asked About.’ Common Dreams, January 26, 2016.
  2. Global Military Spending Facts : A Collection of Sourced & Verifiable Facts on Global Military Spending, The Humanity Campaign.
  3. Peter Koenig. 'The World Economic Forum  Financial Collapse Or Not Collapse  That Is The Question.' Information Clearing House, January 28, 2016.
  4. Koozma J. Tarasoff. 'Do U.S. Bases Threaten World Peace?' Spirit Wrestlers Website, January 20, 2012. 
  5. The Corbett Report. 'How Big Oil Conquered the World.' Sept. 1, 2015. Video on YouTube, 1' 11''.
  6. The Corbett Report. '9/11 Trillions: Follow the Money.' Sept. 11, 2015. Video on YouTube, 1'.
  7. Paul Craig Roberts. 'The West Is Travelling The Road To Economic Ruin.' Information Clearing House, Feb. 1, 2016.
  8. Johan Galtung. The Fall of the US Empire  And Then What? Transcend University Press, 2009.

3 comments:

  1. Lawrence Klippenstein, Winnipeg, Manitoba31 January 2016 at 10:37

    Does that 19 trillion mean that in actual fact the country is bankrupt? And that it is not meant ever to be repaid in full?

    thanks for the info. I am now at the stage of keeping a sharpening eye on my retirement resources – wondering if I am covered there!

    ReplyDelete
    Replies
    1. До тех пор пока кредиторы не требуют вернуть долги, не важно сколько должен 19 или 119 триллионов. Пока верят заемщику и его разговорам о его величии, никто должника не пристрелит и не отравит... Весь смысл дальнейшей жизни должника это ловко и бесконечно доставать из шляпы кроликов и показывать другие фокусы.

      Delete
  2. Veronica Makarova, Saskatoon, Sask.31 January 2016 at 10:42

    Excellent. Let us consider it good news, Koozma! The fall of imperialism and its war machine is coming closer by day.

    ReplyDelete