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Who Lost America? A Time Like No Other

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By Frosty Wooldridge

A book review: Who Lost America? by Bromwell Ault

Part 5: A time like no other

America faces a financial crisis unsolvable by our current economic model.  With millions out of work, our leaders promise us to create more growth and jobs in the coming years.

Answer:  not!  We face systemic failure on multiple levels.  No way to fix it.  No way to fund it. No way to keep borrowing to support it.

“According to numerous voices from the White House,” said Ault,  “the Congress and our top government agencies and departments, our economic system arrived at a point of near collapse last fall which called for massive injections of new capital that only the federal government could provide.”

Fortuitously and/or unfortunately, from WWII on to this moment, we enjoyed endless expansion. That economic enlargement faces an ultimate cliff, whether this year or ten years from now.

“With regard to our national spending policies, we are in a damned if we do and damned if we don’t situation,” said Ault.  “Our present purpose seems to require us to mortgage our future.”

With our $18 trillion national debt, does anyone think we will ever repay that debt with our current model?  Not one economist states that we can pay it down.  What’s the only other answer: economic collapse.

With that in mind, who lost America?  You may point your finger to the 535 Congressional critters that passed laws to place us into our current predicament.  You may blame the bankers who bribed them.  They changed us from a creditor nation to a debtor nation within 40 years.  They voted our manufacturing jobs out of our country.  They impoverished the Middle Class that elected them.  They continue importing endless millions of immigrants into our system to bring about our demise even faster.

Our second president, John Adams said, “There are two ways to destroy a country: by the sword or by debt.”

Ault said, “The greatest peril from our present crisis that our nation faces is the long term effect of its vast increase of our indebtedness.  Unemployment may decrease and sales may increase, but annual deficits of a trillion dollars have a force all their own and are not manageable.”

At some point soon, the U.S. dollar will no longer be the world currency.   At some point, our international creditors could jump the interest rates on our trillions of dollars in loans.  The oil producers could and will raise the price of a barrel of oil.  That will cause our transportation to come to a screeching slow-down.

Additionally, our Congress continues importing millions of immigrants that take jobs or lower the wages for jobs formerly taken by the Middle Class.  Congress did it to our own citizens and continues to this day.  The latest amnesty bill S744 increases legal immigration from 1.0 million to 2.0 million annually.

How do you explain such lunacy?

“It is an all too common form of public deception to suggest that we gradually work ourselves out of our present mess,” said Ault, “as we are long past that point.  It’s is too big, and getting bigger.”

Ault reminds the reader that the old models do not work and new ones are yet to be tested, or trusted.  We stand at the edge, and the wind accelerates.

Part 6: Can our political culture survive?

Who Lost America? By Bromwell Ault

Publisher: Authorhouse

ISBN # 978-1-4634-7446-1

Price: $22.46, 284 pages softcover, Kindle  $3.99

Copies: www.BarnesandNoble.com

Publisher direct copies: 1 888 280 7715

www.CenterforPublicConscience.org

 

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