Friday, November 14, 2008

THE DEBT WISH

To save the world from what ails it, it seems
Americans must first save themselves from themselves
it's a nation that buys everything and anything at a manic pace
while producing Himalayas of debt
apparently it's a crazy place to instill thrift in the young
that they can have what they can afford
for no one around them can afford anything they have

high school students drive new BMWs to school
purchased on credit so they don't have to arrive in a used car
parental priorities go up in smoke or noses on dope
or a new set of breasts, not for feeding but for showing-off
cosmetic surgeons have finance companies of call
for uplifting those downcast or flagging or envious
offering low introductory interest rates ... buy now, pay later

in the 50th anniversary of the American Express card
financial institutions obsessively corral new business
'growing the bottom line' and filling executive pockets
today everybody wins while future generations lose
this house of cards has tumbled for the irresponsible and envious bought houses
they couldn't afford from banks who knew they couldn't afford 'em
but who lent them the money anyway
the US government operates much the same way
their blue-print is to manufacture more greenbacks on presses
thanks to Tricky Dicky who moved 'em off the gold standard in '71

how is the US any different from Zimbabwe or Argentina
or the British Empire that died the day the US threatened to sell off
its vast holdings of British pounds unless they gave the Suez 
back to the Egyptians in '56
what if Britain, Japan, Saudi Arabia, China, India decided to sell off 
the trillions they hold in US currency and treasury notes ... Goodbye, US Empire

Rome fell because of declining morality and political incivility
an over-confident and over-extended military in foreign lands
fiscal irresponsibility and inability to control its borders
familiar isn't it?

since the American legacy really started in the '80s when they became debt addicts
and consumerism went up and savings went down
before that Americans took on debt in times of war or national disaster
but on Wall St, Pennsylvania Avenue and the Mid-West Mall
spending is out of control

right now what are they leaving their children and their children's children
is about half a million dollars each... debt that is
if Americans want to save their Empire they could start by
cutting up those credit cards
and if your breasts aren't big enough, try a padded bra

2 comments:

BoguszBlog said...

Bravo Bernie

Points well made. Learnt some stuff along the way. Trust you know what you know (ha ha).

There was a recent radio national advertising promotion for a program discussion on "How would the world look if America lost it's dominance" or words to that effect... Unfortunately I missed it. But do you have any views on that as a topic to explore.

Keep up the good fight.

bernie said...

Yeah. I do seem to know too much extraneous stuff. Not that it bothers me. I'm curious and inquisitive or just plain nosy about anything and everything and I'm opinionated and vehement and ....

Know what I reckon? The US is losing its dominance and not just because an Iraqi bloke threw his florsheims at the 'most powerful man (sic) in the world'. Currencies play a big part in how the banker-wankers manipulate the world. I reckon the rise and rise of the Euro will incrementally spur a decline in the US dollar over the next 30 years. The Euro is most solid because it has a powerhouse nation Germany, and France to a lesser extent, underwriting its strength. If the Europeans can resist the hubris of becoming the United States of Europe, they will call the shots in collaboration with the BRIC nations that are a tier below them in technological innovation and and research brilliance. We may yet live to see a structural change of a magnitude you and I thought impossible with the probability of the baton being passed to the Europeans. They did dominate half the globe with their technology and tenacity from the 16th century to the 19th century. You only need to listen to Randy Newman's epic song about "The great nations of Europe in the 16th Century". Enough.