By now we are aware of the "Military-Industrial" complex that has dominated US domestic and foreign policy for the last 50 years. President Eisenhower warned against its rise in his farewell speech.
But there is a parallel force that's come to dominate our domestic and foreign policies and even more, affect our everyday lives. What does America make now? What do we really produce, the answer is not much. Why?
The Debt-Industrial Complex.
This excerpt is from "American Theocray" the excellent new book by Kevin Philips, one of the chief architects of the conservative rise to power over he last 40 years.
He coined the term "Sun Belt" and helped inspire and build the conservative movement, which he has seen morph into the extremist NEO-CONSERVATIVE movement.
His book examines how three major factors: OIL, DEBT and RELIGIOUS EXTREMISM are leading to a possibly fast and painful end of the American superpower.
He has renounced modern faux conservative neoconservatism and the Bush cabal.
Its interesting to note than Francis Fukiyama, the Neocon cheerleader whose "The end of History" became a neocon religious text has written a new book as well. In it he renounces the neocon movement, the War in Iraq and religious fundamentalism.
FROM THE BOOK
Mortgages, credit cards, auto loans, corporate debt, federal borrowing, consumer debt.
The rapid ballooning of government, corporate, financial and personal debt over the last 40 years goes a long way to explain why the finance sector, debt's toll collector, has swollen to outweigh the manufacture of real goods.
We are in the middle of one of America's most perverse transoformations.
GWB has promoted these alignments, interest groups, and their underpinning values. His family, over multiple generations, has been tied to a politics that conjoined finance, national security and oil.
In recent decades, operating from the federal executive branch, the Bushes have added close ties to evangelical and fundamentalist power brokers of many persuasions.
The resulting end times cult has no place for fiscal or environmental responsibility.