August 31, 2009 - David Westerfield

In all reality, we’re already there to some degree. The infrastructure has been put in place for the past 50-60 years. It’s getting switched on now. When a global governing body, in this case the WTO, begins dictating to nation-states when they can and can’t fine other countries, whether one country owes another or not for perceived violations of international law, you no longer have a handle on your own nations’ sovereignty. Found this very interesting. From WSJ.com: WTO Allows Brazil to Fine U.S. (Archive)

American goods will face around $295 million in annual sanctions as a result of the United States’ failure to eliminate illegal subsidies to U.S. cotton growers, the World Trade Organization ruled Monday.

The question though for all of us is, how much further will it go? And how willing is our own government willing to give over even more sovereignty to these global governing bodies? And how does our Constitution play into this?

This really makes you wonder who is really running the engine of this nation now: from politics to corporations to the media, it really seems to be the moneychangers now, the banks and major investment firms. And instead of the Fed addressing the “too big to fail” issue, the bailed out banks are even bigger than before after all of these tax-payer funded bailouts.

Don’t believe everything you read in the headlines out there about the state of things in the economy, or in this case the bailouts. It is not rosy nor can we determine the state of the economy based solely upon what the stock market is doing, as some seem bent on doing.

It seems alternative media are more faithful these days to doing actual economic and financial journalism than many of the big hitters, including blogs like Naked Capitalism, Mish’s Global Economic Trend Analysis and Calculated Risk. In addition, though Alex Jones may be the leader of conspiratorial hype movement in the alternative media world, where everyone and their dog is an agent of the Fed and the global elitist interests that are coming to enslave us, he at least has one thing completely right that I agree on: we are in an information war of vast proportions against some wealthy stake holders in this country now.

Take for example this from Naked Capitalism: More Bogus Bailout Reporting: “As Big Banks Repay Bailout Money, U.S. Sees a Profit” (Archive)

“Clearly, the spin is in. As a post earlier today discusses, the Financial Times is running a story that claims that the Fed made money on its rescue programs, then slips in all the tidbits in the body of the article to let discerning readers know that the reporter understands that the analysis is utter rubbish while looking like it is not crossing the Fed.

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Day: August 31, 2009

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