“I pledge allegiance to the flag of the United States Corporation …”
What? Yes, I understand that it’s supposed to read “America” but, in light of Congress’ approval of the Wall Street Bail-Out Plan (known officially as the Emergency Economic Stabilization Act), I think this new wording is more appropriate.
I have warned over and over of the consequences of selling off the assets of America to finance the trade deficit. With ownership comes control. Now we see, too late, what that really means. For many years, as budget deficits and the national debt mounted, we complained that we needed to elect national leaders with business experience, so that our country would be run more like a business, thinking that meant that it would be run with some semblance of fiscal responsibility.
So, if we didn’t have business leaders to choose from, we elected their proxies – politicians who espoused the “ideals” of big business, free markets and capitalism. The end result has been that our nation is now run exactly like a corporation – one that responds to the will of its shareholders. Fiscal responsiblity? Hah! Our nation is now managed exactly like an investment banking corporation – like Lehman Brothers or Merrill Lynch – where the cost of reckless mismanagement is simply funded by selling more shares to foreign investors.
The United States Corporation was once an employee-owned company, when U.S. treasuries were sold primarily to U.S. citizens. But all that changed with the signing of GATT (the Global Agreement on Tariffs and Trade) in 1947, ushering in the age of “free” trade. The only way to finance the resulting trade deficit was to sell “stock” (government bonds and corporate stocks and bonds) to “outsiders” – foreign investors. Now those foreign investors have a majority stake. What this means is that despite overwhelming opposition by Americans, our elected officials do the bidding of our foreign owners and prop up the value of their shares with American taxpayer money, like a corporation cutting salaries to enhance profits. Sure it angers the employees, but who cares? What can they do about it? Nothing.
You may think that, with the power of the ballot box, we can vote these traitors out of office. It won’t make a bit of difference. It’s like voting for new directors of a corporation. They will still do the bidding of the shareholders. So, pony up taxpayers. The shareholders want more of your money. Don’t like it? Go find someplace else to work.