One Economic Crisis or Two?

US Policy, Zionist Manipulation, Economics

by Joachim Martillo

 

Too much economic analysis avoids discussion of the fundamental connection of the subprime mortgage crisis with the rise in the cost of commodities like oil. One NPR analyst even tried to claim that mortgage problems resulted from an economic cool-down in the housing sector while oil price rises resulted from an independent "heating up" of the economy. Nothing could be farther from the truth. The mortgage meltdown and $4-$5 per gallon oil are two sides of the same economic miscalculation.

 

Below is a passage from The Israel Lobby and American Society. I added the red underlined phrase to clarify the nature of the inflation that had not yet evinced itself in the oil industry when I wrote my analysis.

 

The subprime mortgage concept has a model in the theft of Palestinian property in the Palestinian occupied territories with resale to unqualified Jewish mortgage borrowers. See Scamming Americans Robbing Palestinians. The Israeli system worked 

• because the US funded Israeli economic growth especially in the hi-tech sector during the 1980 by means of unaccounted cash aid to the Israeli government under the Camp David Accords and
• because the US funded an expansion in the number of Zionist housing seekers by assisting the resettlement of Soviet and formerly Soviet Jews in Israel (really Stolen and Occupied Palestine).

When the Internet boom took off in the US, the US and Israeli government funded Israeli hi-tech sector was poised to take advantage and worked hard to turn the Internet boom into an Internet bubble through manipulation of unofficial Jewish business-social networks,

• which have long existed in the US finance industry and 
• which American Zionists and the Israeli government have worked to transform since the 1970s (through organizations like Aish haTorah) into an unofficial but effective transnational Zionist Israeli US Jewish cohesive social web characterized by a Zionist epistemic culture.

Once the Internet Bubble was established, moving Israeli mortgage techniques from the Occupied Territories to the USA was the next step and laid the groundwork for the subprime mortgage disaster.

Israel Lobby and American Society:
The Failure of Friedmanism and Bernanke's Panic

In the course of the Neoconservative remaking of American society, the USA has begun to look like Islamophobia central with the legal attack on Islamic charities, Arab investments, persecution of Palestinian activists, efforts to expel Islamic scholars, the political campaign to demonize Barak Obama as a Muslim, (Obama versus the Israel Lobby[460] and Followup: Obama vs. Israel Lobby[461]),  and the attempt of Jewish leaders to impose a test of loyalty to Israel before American Muslims can fully participate in American politics. 

Because of Judonian and Israeli government manipulation of the US economy, this Islamophobia has now become a threat to all Americans.

Lowering taxes and printing money to wage the "War on Terror" created economic conditions that threatened rampant inflation by depreciating the currency with concomitant rise in price of imported commodities. Greenspan and Bernanke responded by gradually raising interest rates. 

If the Neocon Friedmanite plan of privatizing the Iraqi economy and then the Lebanese, the Sudanese, and Iranian economies after a sequence of wars, interventions and regime changes had succeeded, the new neocolonial revenue streams could have generated real growth that would have raised housing values.  Instead the program went awry in each country, and Bernanke raised the prime while housing values stagnated. As a result Bernanke triggered the collapse of the subprime market and has plunged the USA into recession or possibly even into depression at the same time the dollar's value has steadily eroded.

To save the economy the USA needs genuine growth, which is practically impossible to achieve as long as the USA is burning money in the Iraq occupation. Bailouts of Wall Street Banks like Bear Stearns help three nondisjoint groups consisting of

• some members of Judonia,
• the more power participants in the ethnic Jewish networks in the finance industry and
• friends of the President.

Not only do such monetary giveaways to the rich and powerful provide no benefit for the vast majority of Americans, but they also represent a reprise of the aforementioned financial rescues of members of the German aristocracy during the Long Depression that started in 1873.

At this point, Gulf Arabs and the Chinese government have as much interest in saving the US economy as ordinary Americans because the Arabs are dollar rich while the Chinese hold a tremendous amount of US debt. Yet because of  

• the attempts of Summers and friends to keep Jews dominant on Wall Street (Zionist Control: Sovereign Wealth Funds?[462]),
• Muslim-baiting by organizations like the David Project,
• the security-obsessed xenophobia that scorched the Unocal acquisition by Cnooc (Chinese Drop Bid To Buy U.S. Oil Firm,[463]) and
• the effort of the organized Jewish community to distract attention from Israeli and Neocon crimes in Palestine, Iraq, and Lebanon by defaming the Sudan and China,

Arab investors and the Chinese government are reluctant to put up the necessary money and make the needed efforts to save the US economy even though they would almost certainly come out ahead and protect the value of their current holdings.

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