National Debt & Mutually Assured Destruction

We are all familiar with the "Doomsday Clock" maintained by the Bulletin of the Atomic Scientists, which is currently said to sit at 3 Minutes to Midnight. To determine the time on this clock they take into account Nuclear Threats, such as the number of warheads in existence, nuclear security failures, amount of nuclear material stored, as well as climate change, and biosecurity threats such as pandemics.

However, what is not taken into account is that which will bring about military conflict, that which can quickly escalate to use of nuclear weapons. Economies have ups-n-downs, there is competition for markets, some lost some gained, there are employment downturns and recoveries, all part of the normal operation of any economy. There are however, trends that exist above the normal, trajectories form which there is no natural change that will allow escape from the inevitable.

For me, a much more accurate "Doomsday Clock" can be seen in the comparison of but a few National Debt Clocks, namely the United States, China, and Russia.

United States

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This is quite astonishing when you think about it. The per capita debt in the United States exceeds the median income of Americans ($53,657), and there is now more debt than than the yearly GDP - 7.5% more accumulated debt than the entire Gross Domestic Product.

China

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China's per capita debt is approximately half that of their average wage ( between $6000 USD - $ 20000 USD per year, depending on which city you live in, or if you are part of the public or private sector - Source). Further, the amount of debt compared to GDP approximately half that of the United States.

Conclusion: The United States is in baaaad shape, nearly twice as bad.

Russia

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Very interesting! Russia is in very good shape, in regard to National Debt - perhaps because their economy is actually based in reality, on real things of real worth, with rational trade partnerships that allow them to retain control of their destiny!? Is this why they are being so demonized and encroached upon these days, because they are not participating in this new form of Mutually Assured Destruction that exits between the United States and China?

Debt & Deficits Do Not Matter!?

Remember that famous quote by Dick Cheney, at the time of the USA's illegal-aggression-invasion-colonialstyle-occupation of Iraq? In a nutshell, the economies of China and the United States are so heavily dependent upon one-another, at this time, that there is no reasonable expectation that China will ever move away from the US Dollar (aka try to destroy its value).

The result of this would mean an end of affordable products from China, which would kill the Chinese economy (as it exists today), and simultaneously would end the reign of the US Dollar as the standard by which all other currencies are compared. When faith in the US Dollar goes, internationally, what will follow is a literal economic implosion domestically in the United States - given the already rapidly declining faith in government, and the size of the population, the result would be catastrophic .. one could easily predict a scenario where central / federal government would only be able to maintain control thru use of force, domestically, and internationally.

The current no-holds-barred printing of United States currency, at 0% interest rates, and in some parts of the world sub-zero %, perhaps soon to be seen in the United States as well - is behavior the world sees accurately as pure desperation, and it is becoming increasingly obvious to US citizenry, despite the effort of corporate media to distract from it. Although world trade remains measured in USD, the fact is everyone already knows how worthless the currency is - the faith is already gone. What is left is to find a way to create a new Global Reserve Currency, to change trade relationships so countries that still have some sound fundamentals, are doing business with other countries that are still tethered to the realities of the world, and who are not just seeking to maintain their standard of living by any means necessary, as the United States is.

Ron Paul: A Clear Warning , But Can We Protect Ourselves?

Reduced Stature and Loss of Global Reserve Currency Status

From an article in Forbes magazine, entitled, "Ron Paul On The Public Debt And The Collapse Of The Dollar" by Mike Patton, quote:

Is the U.S. Losing its Stature?

In the post WWII era, the U.S. dollar has been the global reserve currency. Prior to that, the British Pound filled this role. Recently, China has increased its trading with Germany, India, and others, excluding the dollar as the reserve currency. It seems the world is slowly transitioning away from the dollar. If this continues, the U.S. could lose its position as the world’s reserve currency. This would have numerous ramifications. A discussion on that is beyond the scope of this article. Mr. Paul also stated that 10 countries have already signed a document to begin phasing out the dollar as the basis of trade. Even the IMF has proposed a new world reserve currency system. The days of the U.S. dollar as the world’s reserve currency may well be numbered.

Media Manipulation No Longer Effective vs Domestic Population

Thanks to Decentralized Communications and Exchange, and the general increase in awareness, population control via the Manufacturing of Consent, is no longer effective - Domestic non-participation in this system, is also a threat to the current power structure - the result of this will be increased use of control methods and overt force, at home, as well as abroad. The so-called "powers-that-be" have very little loyalty to the "society" from which they came (some do not even believe in the idea - remember Maggie Thatcher famous line).

The Inevitability of War

It is one thing when citizens are suffering as a result of mismanagement by their own governments, but it is quite another when the continued existence of the federal government becomes uncertain. Power structures defend themselves, and aim primarily for perpetuation - defending itself against all enemies, foreign and domestic, it will become very aggressive.

The chilling reason that Dick Cheney said those words, "Deficits Do Not Matter", at a time when the USA was engaged in large-scale military operations abroad, I believe is the simple fact that the most powerful members of American society are resigned to the fact that war is inevitable. In an opinion piece in the Japan Times, by Mark J. Valencia entitled "China, U.S. moving closer to viewing war as inevitable"

As one commentator puts it “The U.S. is deeply in debt; its middle class is crumbling; its industries have been hollowed out; its infrastructure is in disrepair; its education system is badly underfunded; and its social contract is in shambles.” It is also squandering blood and treasure as it tries in vain to sustain its dominance.

China’s leaders believe China represents the future, not just in hard power but also in economy, culture and values. Indeed, China’s leaders believe it is China’s destiny to regain its prominence if not pre-eminence in the region and perhaps eventually the world.

No one should believe that the US would allow this to occur without lashing out, with all that is left of its might. The United States is a purely faith-based enterprise now - it does not make things, it does not improve or increase the wealth of the world, it no longer reaches for the stars - it is fast becoming seen as a colonial relic, with its boot still upon the neck of the world - other countries, primarily China and Russia will no longer accept this. The United States government will use force to retain its position, and keep its population in the darkness required for them to continue to accumulate debt in order to consume, which is the grease that keeps the rusty wheels turning ... trouble is, people are waking up, more and more, and see that they are on a road that leads only to ruin.

Resources:

"The Revolution: A Manifesto"

"The Death of Money: The Coming Collapse of the International Monetary System"

"Manufacturing Consent: The Political Economy of the Mass Media" (1988)
Great Documentary Version - "Manufacturing Consent - Noam Chomsky and the Media" (1999).