Western Collapse                 

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05/11/09  The coming depression.  Setting aside all the politics about “how it is all George W. Bush’s fault”, the serious among us must get to understand the history of decades worth of unfolding error.  Truly free markets have been missing.  Many analysts tend to think in terms of narrow specialty, failing to understand the necessity of a comprehensive study of fundamental underlying social and cultural movements through time. This cannot be done on a bumper sticker. 
 

Recognizing this, it is within the scope of this website, and perhaps by additional means, to engage in such analysis, and the Mountain Observer intends to do so.  Already, throughout the archives of this website over time, there are to be found efforts in this direction.  The seemingly current mindset of the American people, even those who care to vote, suggests difficulty beyond that which even I had imagined to be true. 
 

Lurking in the background is a far more fundamental problem.  I quote Whittaker Chambers, an inside expert, one might say, on the difficulties with Statism:  "--the crisis of the Western world exists to the degree in which it is indifferent to God".  I will not further belabor the point here, except to alert the reader to the fact that the existence of this condition is an underlying premise of all that I have ever said on this website, and that I will say in the future.  Without recognizing this flawed cultural condition of denial of the Judeo-Christian Creator to which Chambers was referring, any understanding of the world as we know it is not possible, and those so disposed are part of the problem.

Here, today, it is not my purpose to embrace an analysis of the whole issue of Western disintegration. That will eventually require a huge comprehensive effort.  The limited scope of the following observations are but points of reference to be further pursued regarding the immediate and pending economic collapse.

1). Examine, in depth, the history of complicity of private wealth with public political lawmaking in the development of regulatory and legal domestic economic protectionism. This requires an understanding back into the nineteenth century.  This also requires an examination of the actual political orientation of Wall Street and its financial managers especially since 1960.  Follow the money.

2). Examine, in depth, the history of the formation of the Federal Reserve and the income tax, including the subsequent evolutions of both.

3). Reflections on John Maynard Keynes, the Reichsbank, Hjalmar Horace Greeley Schacht, and the Weimar Republic.

4). Examine, in depth, the history of the 1929 Wall Street collapse, the subsequent consequences, and the formation of the “new Deal”.

5). Examine, in depth, the history of the economic and social policy initiatives of all national Administrations from 1928 forward.

6). Examine, in depth, the history of the Community Reinvestment Act as originated in the 1970’s, and enhanced in the 1990’s.

        Ref: http://www.ffiec.gov/CRA/, as a place to start.

7). Examine, in depth, the history of corporate bailouts by Congress, including Chrysler in 1979.

8). Public policies since 1960 such as what policies have been influenced by political correctness derived from of social deconstructionist philosophy.

9). March 2008. What exactly happened regarding the bailout of BearStearns, and why?  J.P. Morgan and the waltz of the broken fence posts, aka creative regulation.   Understand Section 13(3) of the Federal Reserve Act, and the implications for the future.

10). Then we come to the matter of AIG.  How and why did a certain plug get pulled in October of 2008?  Coincidental?, or someone’s political agenda running in the background? 

10a).  A correction.  I believe I am erroneous on item 10).  The incident referred to involved Lehman Bros., not AIG.

11). Mark to Market.

12). Where, over the years, did all the gold go?

13). Obama rides into town announcing his intention to fix all of this. What has followed, under the direction of the original government purps, are policies of continued government spending, regulation and control now on steroids.  Re-stated, these newest spending, tax, regulatory and political efforts are inconsistent with complaints about George W. Bush, and, in fact, are an endorsement of Bush’s misguided economic policies.  Many times more of the same. Trillions of dollars of federal government liabilities, exclusive of proposed health care proposals and carbon tax burden can only result in disaster.  So much for compassionate conservatism; welcome leftist National Socialism.  The Mountain Observer has complained about creeping economic fascism for years.

14). To be continued.