North Korea invaded South Korea inJune of 1950. In October the Chinese crossed the Yalu River. I was a senior with a major in economics on track for graduate school in international trade. My year was cut short, I spent the war concerned with downed pilots in Siberia or turned over to the Russians for brainwashing. After the war, I went to medical school on the GI Bill, but macroeconomics and the market remained a fascination, especially trade deficits.
In 1992, Diane and I worked on the Ross Perot campaign. Perot called it a giant sucking sound. Economists call it capital divergence, a phenomenon, which repeated throughout history, associated with depression, war, famine, pestilence and the fall of civilizations.
International trade is good, right? It raises all boats, or does it? Our trade deficit added up to 6.5 trillion since 2001with China alone, and that’s just wholesale. The real loss to the middle class, job loss and the loss of economic velocity rivals our national debt.
Follow the money —- to Silicon Valley, multinationals, international banking, Wall Street, oligarchs and the CCP, 70% of wealth now in the top 10% of our population.
How does that work? A macroeconomic equation shows the trade deficit offset by loss of personal savings, increased investments and increased government deficit. Think trillions.
That was the economics. Darker forces were at play.
1969 Brzezinski wrote,
“The nation state as a fundamental unit of man’s organized life has ceased to be the principle creative force. International banks and multinational corporations are acting and planning in terms that are far in advance of the political concepts of the nation state.”
Therein lies the post-Vietnam rejection of American instructions and ultimately our constitutional republic in favor of a vague international totalitarian government.
1953 Stalin died; Eisenhower negotiated an armistice with N. Korea.
1954 a year later, Dien Bien Phu and Vietnam
1968 Peak antiwar protests
1970 Council on Foreign Relations magazine
1971 Nixon took us off the gold standard.
1972 Kissinger, Nixon to China
1972 Jane Fonda to Hanoi
1973 Carter, Brzezinski & Rockefeller, Trilateral Commission
1977 MiddleEast oil, Japanese and German cars
1996 China temporary MFN
2001 China permanent MFN
2010 Supreme Court, corporate donations, free speech
2011 China claims the 9-line South China Sea
2014 Russia invades Crimea.
2016 Brexit, Theresa May “
2016 Reaction to open borders
2016 Trump, nationalism, populism & X TriComms
20117 25% tariffs
2019 WEF, Davos, Xi, Belt & Road,
2019 Riots, looting, arson.
2019 Schwab World Government,
2019 Covid19
2/23/22 Putin invades Ukraine.
2023 A further international wave of populist nationalism
After 2020 & 2022 elections, the tangled web of Globalization becomes more visible. Multiple threads of greed include international banking & Wall Street, Silicon Valley giants, Unions seeking international expansion, Oligarchs seeking world government for power and profit. Many are willing to burn the Constitution rather than to loose out on globalism. Don’t forget the CCP seeking World conquest, colonial power, and destruction of the US, or Russia’s quest for territory and continued subversion of Western Democracies
Globalization or Democracy, you can't have both, traces these conflicting economic beliefs through western history.
Comments