Financial Terrorism

In this week's NOW with Bill Moyers, Kevin Phillips talks about his worry that foreign investors are owning more and more of the U.S. debt. This is a bigger national security threat than anything else since it could collapse the U.S. economy! This gives non-American's leverage over the U.S. standard of living. Imagine if a (non-violent) terrorist group bought as much of the U.S. debt as possible. Then in a few years, after significant investment, started pulling out money. The value of the U.S. dollar would have to fall and others will start to pull out. This would be catastrophic (now you know why Saudi Arabia isn't afraid of the U.S.).

So what does Bush do, well to quote MOYERS: A hundred and thirty-seven billion dollars in tax cuts this week from Congress to the largest corporations in the country. He could have given $500 to every American (children too)! Who do you think the government works for?