Thursday, September 25, 2008
PAUL CRAIG ROBERTS EXPLAINS IT VERY CLEARLY ONCE AGAIN
Has Deregulation Sired Fascism? By Paul Craig Roberts 24/09/08 "ICH" http://www.informationclearinghouse.info/article20854.htm EXCERPT: "The US Treasury does not have $700 billion on hand with which to buy the troubled assets from the troubled institutions. The Treasury will have to borrow the $700 billion from abroad. The dependency of Treasury Secretary Paulson’s bailout scheme on foreign willingness to absorb more Treasury paper in order that the Treasury has the money to bail out the troubled institutions is heavy proof that the US is in a financially dependent position that is inconsistent with that of America’s “superpower” status. The US is not a superpower. The US is a financially dependent country that foreign lenders can close down at will."