by Charles Coughlin

Thanks to a holiday for an adulterous, closet Marxist, whose true legacy has been decades of Reverse Discrimination against White people based solely on our race, the US stock market was closed Monday as other world markets plunged. One news article reports “Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government’s stimulus plan to prevent a recession. U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week’s market declines there circled through Europe, Asia and the Americas. Britain’s benchmark FTSE-100 slumped 5.5 percent to 5,578.20, France’s CAC-40 Index tumbled 6.8 percent to 4,744.15, and Germany’s blue-chip DAX 30 plunged 7.2 percent to 6,790.19. In Asia, India’s benchmark stock index tumbled 7.4 percent, while Hong Kong’s blue-chip Hang Seng index plummeted 5.5 percent to 23,818.86, its biggest percentage drop since the Sept. 11, 2001, terror attacks. In Canada, the S&P/TSX composite index on the Toronto Stock Exchange fell 4.8 percent. Brazilian stocks plunged 6.6 percent on the main index of Sao Paulo’s Bovespa exchange, and Argentina’s benchmark Merval index fell 6.3 percent to close under 1,900 for the first time since August 2006.”

So foreign markets plunged five to seven percent. A seven percent drop for the Dow would be 840 points. Adding to the world-wide panic is more bad financial news. A Bloomberg article notes “MBIA, the world’s biggest bond insurer, was forced to seek more than $2 billion in capital to keep its credit rating. The company said last week it faces losses and writedowns of more than $4 billion because of a slump in securities backed by mortgages given to borrowers with bad credit. Standard & Poor’s today said it will start a new examination of bond insurers including MBIA, one month after affirming their AAA ratings, because losses stemming from subprime mortgages will be worse than the firm anticipated. Fitch Ratings today affirmed its AAA guaranty ranking for MBIA, saying the company has built up enough capital to meet the ratings firm’s short-term requirements. Elizabeth James, a spokeswoman at MBIA, declined to comment.”

If the United States had a responsible government, we would be as independent of foreign nations as possible to preserve our national sovereignty and to insulate us from any world-wide depression. The United States should be completely energy independent, which could happen if our government seriously developed fusion energy and bio-diesel fuels. We should produce all the products we consume –even the cheap plastic junk which we’ve completely surrendered to China.

Because of a massive invasion of illegal Latino labor, the US has put off developing robots, which should be the next step in our industrial evolution. Private industry has put out small toy-like robots for cutting the grass, vacuuming rugs and mopping floors –jobs that Latinos do today. It’s only a matter of time before all the menial jobs that illegal aliens do will be done by robots. The cost of work for a general-purpose robot (once someone invents one) will almost certainly drop every year –eventually becoming cheaper than the cheapest Latino or Chinese labor.

Using illegal alien labor or moving factories to China has some disastrous side-effects. California spends 10 billion per year on government services for illegal aliens. China has greatly increased its consumption of oil thanks to all the industry and factories there now. Instead of 1.3 billion people riding bicycles, an increasing percentage of people in China are driving cars. The $3 per gallon prices for gas may be permanent (or may climb even higher) thanks to all the outsourcing to China.

In a strange ironic twist, all the irresponsible financial policies in the US look like they will bring down our economy –and the rest of the world with us. We should have been protecting our economy from outside instability. And the rest of the world would have been wise to protect their economies from us.