The US economic meltdown: "Obama, Clinton, and McCain Won't Save the American Economy" - by Shawn Hattingh
The US media and party election machines have once again transformed the run-up to the US elections into a melodrama. Across the country, party candidates have been swaggering across stages, surrounded by stars and stripes and CNN logos, to spew out the latest piece of propaganda that the spin doctors have managed to conjure up.A melodrama would simply not be a melodrama without villains, and the spin doctors and US media have created plenty of these.The prime villains in this particular saga are those countless turban-wearing terrorists from Iraq and Afghanistan and the cunning communist from across the pond in Venezuela. The respective heroes in this tall tale, Hillary Clinton, Barack Obama, and John McCain, have all promised to address these dangers -- by any means possible, ranging from outright force (in the case of McCain) to diplomatic maneuvers (in the case of Obama) -- so that America can once again be safe. Obama and Clinton have even promised to solve America's looming economic crisis -- without even fundamentally questioning its root cause. The reality is that the US is bankrupt. The US Controller General said as much when he reported to Congress that "the federal government did not maintain effective control over financial reporting and compliance with significant laws and regulations as of September 30, 2007. In layman's terms, this means that the US government is unable to pass an audit. No amount of wishful thinking and colorful speeches by Clinton, Obama, and McCain will change this reality.
A full-blown economic meltdown is set to occur in the US. It could happen tomorrow, or over the next few years, but it will happen. When it does, the US will face a major choice -- abandon neo-liberal capitalism and create an economy that truly serves all the people; or face barbarism.
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