Blowin' in the bigger wind

Dylan and Arguelles, a bigger wave just crashed over Wall St. The 7th anniversary of 9/11 was pretty much ignored during the news as Hurricane Ike descended upon the center of the oil industry in Houston. Less than week later an even larger wave crashed on Wall Street– a wave larger than the combined weight of Hurricane Ike, WTC and Enron. Can we call the tragic events over the last week 9/16? There is no easy solution to this problem. We will be selling more debt overseas, and our 9 trillion dollars of current debt will likely close to double, according to my source who is an international banking advisor to the Senate Banking Committee. And while our national debt status according to Moody’s investors service is still Aaa category. The idea of 9 trillion dollars of debt seems so ludicrous, that 16 trillion becomes nothing more than fodder for Scrooge McDuck. There are many unfortunate scenarios, one of them being expressed here, in zFacts, where there is a graph showing how we reduced our inflated debt after WWII. Essentially we reduced our debt through the ERP, the European Recovery Plan, or Marshall Plan in which we sold goods and services to destabilized countries to establish, well, recovery programs. So in nutshell, destabilization and economic recovery plans has been a proven model for fixing our economy. What does that have to do with Statehood and Hawaii? It could mean that military spending and development could grow substantially in Hawaii. What are the options? Well, it really means, and this it is not simple hyperbole in stating the obvious, but in the rebuilding of destabilized economies, the US has done very well, and Hawaii too has done well. Before statehood, our ports were controlled by the ILWU, a member of WFTU— the soviet led World Federation of Trade Unions. During the Korean war, as well as in may of the uprisings for independence that were occuring in asia after WWII, the ILWU often boycotted the maintenance on ships delivering goods (ie weapons) stopping off in Honolulu on their way to Asia. These ships instead docked at Pearl Harbor, the military port next door. It is unlikely that American taxpayers can pay this debt even if we wanted to and the big question that we should really be asking oursleves is what will the US do, to NOT default on its expected 16 trillion dollar loan?]]>

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