We have repeatedly warned that the Anglo-Dutch Liberal empire is using the death of the global financial system to eliminate the nation-state system and impose a global, fascist, corporatist dictatorship upon the world. One does not need inside information to see this; one merely need examine the policies being pushed by the international banking crowd and take them to their natural conclusion. The push for fascism is, to use H.G. Wells' term, an "open conspiracy."
It should be obvious to all thinking persons by now, that we cannot solve a debt crisis by taking on even more debt. All the bailout really does is transfer losses from the books of the banks to the books of the government—and thus to the taxpayer—without doing anything to increase our economy's ability to pay that debt. It does, in fact, do just the opposite, as the physical economy is further cannibalized by the demands of the bailout. We incurred this debt as a result of the decision to deindustrialize the U.S. economy, and switch to a service/finance economy; with every passing year we produce less while we spend more, making up the difference by borrowing from the rest of the world.
Wall Street financed this expansion of debt by creating an ever-wilder series of financial instruments. This process, in which debt was treated as an asset, and then that asset used as the basis to create even more assets, ad absurdum, resulting in a mountain of highly over-leveraged securities and derivatives bets which far exceeds the debt-carrying capacity of the economy. The same is true, to varying degrees, in most other countries of the world.
We are, to put it simply, flat broke, with no prospect of recovering unless we break with the failed Anglo-Dutch Liberal system and return to the time-tested policies of the American System.