The Iranian EMP Threat – Redux

Once again, as elements in our nation lobby for war, a story from NewsMax discusses the intelligence that suggests Iran is preparing an EMP attack on the U.S. Is this a credible threat?

Possibly.

More likely though, is that this story helps beat the war drum to hit Iran with this same type of attack. Much like an enormous amount of intelligence surfaced immediately after 9/11 about who attacked us and why, if there were a semi-successful attack on territory and resources not closely tied to the survival of the United States, I have a feeling we’d be served up hard evidence that Iran was behind it, and that they are, in fact, ahead of where we thought they were in their quest for nuclear weapons. That would justify the end of Iran’s participation in the 21st century (and 20th century as well). I don’t believe we would “turn their major cities to glass” as many call for, I just think we would detonate 4 or 5 EMP weapons ourselves, turning a very modern nation with a very backward religious-based authoritarian government into a 19th century society.

If that happens, there will be those in the government who will actually suggest we did them a favor by ending their conflict between the old world and the new. There will be those who say “be careful what you wish for.” Want the kind of male-dominated medieval society the Shiites seem to advocate? Here you go.

Personally, I don’t believe that Iran could pull this off. I think their President likes to talk a big game, but I don’t think the country collectively has the desire to end the modern era. But what’s most important, is what the people who run the United States believe and want, and what the Iranian government gives our leaders the excuse to do.

Monday Morning Briefing

Welcome to a brand spankin’ new week!

Money on our minds this Monday, as the White House predicts a $490 Billion budget deficit next year. Given our government’s fondness for spin and general economic incompetence, I’d say the truth is probably somewhere north of that figure, between $490 and $1 Trillion. Add in bank and FDIC bailouts that will be necessary in the next 18 months, and the larger of those two numbers is probably a lowball.

Too many people today read that news, shrug and say “Well, that’s the government. They can handle it.” What will be an even bigger story in ’09 however, is starting to sneak up on us and seep into the mainstream media. Listen to this segment of the Diane Rehm show (launches a Windows Media file) and you’ll see that dozens of states are under water budget-wise for 2009. This will mean problems with education, health care, police/fire protection, highway and infrastructure maintenance and much more. The resources we need on a daily basis will be strained.

As I write this, the DOW has tumbled already, and even Reuters is reporting that the Gold Futures market suggests that the metal will trade at $1,200/ounce by the end of the year. So, it’s no longer just Jim Sinclair making this claim!

Meanwhile, Jim Kunstler has a terrifically dark piece about a drive through New York State (where he lives), with some pointed, vivid and very compelling observations about the state of our society:

Hopelessness infects this landscape like a miasma. Whatever young adults remain in these places are not thinking about a plausible future, only looking to complete their full array of tattoos and lose themselves in raptures of sex, methedrine, and video aggression.

And that’s the lighter bit Seriously though. Kunstler’s views ring so true, even though regularly reading him, you start to get the idea he really, really dislikes tattoos. I believe though, that Jim will one day be seen as one of many visionaries whose dark futures often hit closer to the eventual truth than most. God help us.

Finally, in the “can’t wait for the future” hit parade, George Ure at UrbanSurvival.com unhappily predicts an “October Surprise” that involves a hidden hand, false flag and an attempt to disguise (if not avoid) the Greater Depression bearing down on us right now. I remember similar predictions (not from George) about the last of the Clinton days, where an event causes the White House to declare Martial Law and cancel the elections. Looking at history though, I have to admit it would be more in character for this administration than the last to attempt something like this.

Time will tell. Have a great week. Be watchful.

The Government We Deserve

I’ve made it no secret that WhatComesNext.net supports Ron Paul for President. Note that I still say “supports,” because even though Dr. Paul has left the race, I will still write in his name as my choice for the office. I believe that he is/was the only candidate who has even the simplest grasp on our economic problems and how to address. Notice I didn’t say “fix” them – that’s impossible at this point. We need a government that has the ability to successfully lead us through the next several years without allowing the nation to succumb to our economic “illness.”

But the two political parties that divide us, do so because we and our money are spoils to be divided. The organizations called the Republican Party and the Democratic Party, are, in reality, one party with two faces that both look upon what we have as something to control, confiscate, and steal. For the good of our nation, they need to slink off to oblivion in shame and humiliation.

There’s a saying: “A people gets the kind of government it deserves,” and that’s true. We have allowed these two parties to flourish and marginalize all others, so we deserve them. We have allowed an elitist political class to develop, rewarding the ability to get elected above any talent for governance. We have stood by and in most cases, participated in the construction of a system where C-student charlatans walk the halls of power in every branch of our government, enjoy enormous political and personal successes while brilliant and plain-spoken men and women like Ron Paul are treated like “whack-jobs,” not even worthy of consideration in the process.

The good people of Texas’ 14th district know something most of the rest of us are apparently unaware of, that Ron Paul has answers. As an economist, I know that he has MANY good answers. Sadly, the two major party candidates vying for the White House are empty suits, bereft of even the barest minimum of ability to address our problems. The news of the past week clearly shows this. McCain spent part of it talking to the Dalai Lama. WHAT? I have nothing respect for the Dalai Lama, but what in the world was McCain thinking?

Even worse, Obama spent the week doing a “victory lap” in Europe, gathering adulation from Europeans. If he wanted to speak to non-Americans, he could have done that easily enough. Just go to Los Angeles, New York or one of a hundred other American cities, where immigration control has failed miserably. But, he decided to go to Europe, to wink at these people across the Atlantic, distancing himself from us “ugly Americans,” and in effect, saying “when I’m elected, I’ll shape these barbarians into polite savages you won’t mind having visit you.” The best thing Obama could do for “his” country, is more of this kind of thing. Keep showing poor judgement like that, and even the most dense Americans will realize he’s not in the race for them and will dump him from not only his White House bid, but also from his Senate seat when the time comes. Anyone who votes for Obama this fall will get precisely the government they deserve.

But sadly, we’ll be right there with them.

The “Last Plane” Account

Just a quick post about an excellent article on DollarCollapse.com, entitled The Last Plane Account, which references the excellent work of Barton Biggs.

Last Plane Accounts are essential if you plan on hanging on to whatever wealth you have when things turn ugly. Biggs’ essential farm or ranch stocked to feed your family isn’t nearly as “wacko survivalist” as it once may have been. Very important.

The Huge Threat to the US Economy

Jim Jubak says that we’re in a great deal of danger, that the US economy is in a precarious position because of the $5 Trillion Fannie Mae/Freddie Mac debacle.

That he’s right isn’t the point of my mentioning it, that it’s Jim Jubak saying things like this is:

With $5 trillion in financial paper in the markets tied to these two companies, a failure at one or the other would panic the U.S. and every other financial market in the world.

We wouldn’t have to wonder about whether the U.S. economy would slip into a recession because we’d be in one — and looking a depression straight in the eye.

Jubak is extremely smart, experienced and mainstream. He’s not a doom and gloomer, and often debunks these kinds of ideas. Read his article Financial Doom and other Fairy Tales and you’ll see he’s no Chicken Little.

But, in the Fannie/Freddie situation, he’s looking up and seeing something that might fall.