“Through their own words, sang Sinead O’Connor in The Emperor’s new clothes, “they shall be exposed.” 1
It’s sadly the case that the overwhelming majority of Westerners still have not caught on to the truth – once seen, never unseen – that we are ruled by criminals who wage wars for profit; wars they dress up as motivated by high ideals. As with Jimmy Savile, the evidence is hiding in plain sight but, as with the emperor’s clothes, the naked truth is obscured by a narrative – its depth, breadth and sophistication without precedent – that the West in general, and USA in particular, work for the good of humankind.
The crimes of the USA have been systematic, constant, vicious, remorseless, but very few have talked about them. You have to hand it to America. It has exercised a quite clinical manipulation of power worldwide while masquerading as a force for universal good. It’s a brilliant, even witty, highly successful act of hypnosis.
On April 9 a Republican senator gave an interview with MSNBC’s Chuck Todd. Michael McCaul, a virulent China hawk whose net worth was placed in 2011 at just shy of $300 million and will surely have increased since then – after all, even without Obama’s bail-outs for the super-rich, 2 wealth has always excelled at that – represents
huge corporate interests the State of Texas and chairs the House Committee on Foreign Affairs.
Here’s an extract:
CHUCK TODD: Make the basic case for why Americans not only should care about what happens in Taiwan but should be willing to spill American blood and treasure to defend Taiwan.
REP. MICHAEL MCCAUL: No one wants that. I think the deterrence is key here. We traveled to Japan, South Korea, we were in Guam, we were meeting with our allies, our partners here, if you will. They don’t have a NATO in the Pacific, but they do have partners. We want to make sure they’re ready and supportive of the United States in Taiwan.
The case for Taiwan, that’s a very good question, about 50% of international trade goes through the international straits, but I think more important is that TSMC [Taiwan Semiconductor Manufacturing Company] manufactures 90% of the global supply of advanced semiconductor chips.
If China invades and either owns or breaks up, we’re in a world of hurt globally.
CHUCK TODD: Congressman, that almost sounds like the case that would be made in the 60s, 70s, and 80s, [and 90s, 00s, and 10s] for why America was spending so much money and military resources in the middle east. Oil was so important for the economy. Is this sort of the 21st century version of that?
REP. MICHAEL MCCAUL: You know, I personally think it is about democracy and freedom. And we need to stand up for that, like we’re doing in Ukraine …
Some at least of the commentariat below the line weren’t having it. For the full range, see the exchanges below the YouTube video. Here’s a sample.
As noted in the passage transcribed above, TSMC = Taiwan Semiconductor Manufacturing Company Limited. It’s the world’s largest high end chip producer.
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- The Emperor’s new clothes also houses this line: “they laugh cause they’ know they’re untouchable, not because what I said was wrong …”
- For more on the Obama response in the wake of the 2008 crash, see Michael Hudson’s observations as featured in Debt forgiveness: a lesson in our time.
And talking about real estate markets, there’s been a huge 20% increase in the cost of housing in the United States. Again, that’s because of the policies that were put in place by President Obama. His staff — Obama and Treasury Secretary Geithner — really forced the economy into an avoidable depression by bailing out the banks instead of writing down the junk mortgages in 2009 and 2010. Instead of writing down the mortgages to the realistic market value, Obama evicted eight or nine million American families, primarily Black and Hispanic families or low income families. They had to sell their houses.
Meanwhile the Federal Reserve was lowering interest rates, enabling private capital firms like Blackstone to come in and begin buying up all these properties. Along with other capital firms, they became absentee landlords. So the result is that since 2008 home ownership rates have fallen in the United States from 58% or 59% in 2009 to where they are now, which is below 50%.
Less than half of Americans own their own homes, as a result of monopolists buying tens of thousands — millions — of homes as investment. So the American economy is shifting, from a middle class economy, where people own their own homes, to an absentee-owned landlord-run economy, run by the landlords essentially borrowing from the banks in a kind of symbiotic relationship. Economists call this the FIRE sector: Finance, Insurance, and Real Estate.