Sunday, July 31, 2011

Review of: "The Day After the Dollar Crashes", by Damon Vickers.

This book is fascinating, not so much for what the title promises (that, it turns out, seems almost incidental), but more for the seeming multiple personality disorder of the author, where a different "personality" seems to be in charge in each chapter.

In Chapter 1 the emphasis is on a "liberation" and 'free trade" world view, mixed with a generous sprinkling of "environmentalist"/Green warnings. All the well known and well worn statistics are rolled out about the huge national debt, the trade imbalance, and environmental ravages brought on by heedless pursuit of growth and consumption, and the dependence on entitlement programs. He states that GDP is not an appropriate measure for the wealth and health of a country and its economy (agreed) but then states that "The only real gauge of our worth is what we export".

Towards the end of this chapter he seems to be vying with Glenn Beck for the honor of "confused crazy", perhaps hoping for a seat at the table of television punditry.

Chapter 2 his Dr. Phil/Suze Orman/Glenn Beck personality mix takes full flight and the book takes a turn to the "How to Heal Thyself" genre, admittedly a good source of income, if you can develop a following - perhaps Oprah will sign him on to OWN. This chapter is full of platitudes and conflicting advice. He goes on an on about how US workers cannot hope to compete internationally, but does not offer any solutions (except perhaps accepting the incomes and lack of social services of third world countries). He ends this chapter out in left field with an admonition to reduce our prison population -- they get a free ride, shelter, food, medical care - still not quite sure how this fits into the New World Order.

In Chapter 3 Mr. Vickers seems to want to go back to the Silver Standard: "According to the 1792 Coinage Act, one single US dollar bill equals 0.77344 ounces of silver. That was sound money". I'm not an economists or finance expert, but that seems to be a dead horse since Nixon repudiated the ability to redeem gold for Dollars in 1971. In this regard Mr. Vickers is again aligning himself with some of the libertarian crazies.

He also states in the same section that "If you look at the period between 1800 and 1941, inflation did not exist while the currency was sound". That seems to be a completely false statement if you look at any of a number of historical inflation data sets. For example:
http://en.wikipedia.org/wiki/File:US_Historical_Inflation.svg shows that inflation in 1920 peaked at over 20%.

Mr. Vickers has an amazing capacity for forceful arguments on both sides of an issue without seeming to realize that he is contradicting himself. He argues that jobs are leaving the US because American workers are too bloated and selfish and will not accept that demanding a living wage, some healthcare and old age pension will cause their jobs to leave forever. He offers the same old tired free-market arguments to demonstrate that this is inevitable and that "government regulations never work".

In the very next section he thunders against the unethical corporations, which act "against the common good in exchange for profits to the shareholders". He gets on his little soapbox and calls for "a social uprising that hits these conglomerates and this club of economic elites in the pocketbook". Then he goes on to "pray that the New world Order…includes powerful and enforceable policies to prevent this kind of financial pressure" which allow the corporate excesses.

So on the one hand he argues that "government regulations never work" but then calls for a "New World Order [which] includes powerful and enforceable policies". Mr Vickers seems to have separate compartments in his brain which don't communicate with each other.

Then Mr. Vickers morphs back into his Buddhist personality (the third personality of his multi-personality disorder?) with statements like "people saw clearly that we are one world, one ocean, one atmosphere… and acted with a new awareness that every living thing on earth was connected". This from the same man who only a few paragraphs earlier has berated the self-indulgent American worker for wanting a living wage and not acknowledging the wonders of free-market capitalism and its self-regulating, resource optimizing truths.

Mr. Vickers seems to keep gyrating back and forth between his libertarian self, where the government is nothing but a money grubbing, inefficient, self-serving, unaccountable menace to We the People, his Green/Buddhist self, where he bemoans the unsustainable, consumer-oriented, environment-destroying economic system of the West, and the corporate and political elite which control it to their own advantage, and the somewhat insane "New World Order" proponent, where, through some miraculous turn of events, all the ills of the current separate governments and corporate entities are morphed into a benevolent and all-knowing global governing entity which brings us into Nirvana.

Sprinkled into this melange are some real zingers - I'll quote just one:

"We Westernized citizens spend 80 percent of our time working for profit, thinking that someday we will evan enough money to allow us time to fish and garden [apparently his idyll]. In comparison, the third world citizen spends 80 percent of his time fishing and gardening [when he is not busy being slave labor for us]".

In Chapter 4, having not yet defined what the New World Order is, except vague references to some form of benevolent world government, which has miraculously managed to solve all the numerous problems he has enumerated, he turns to thermodynamic theory (entropy) to "prove" that a collapse of our current systems is inevitable. And like the tension between the Old and New Testaments, Mr. Vickers goes into "preacher mode" and pats us on the head and tells us not to be afraid of the "new order", for it is inevitable/ordained, and will lead us to Nirvana.

This religious fervor is mixed with some good old fashioned right-wing big-bad-government rhetoric (nationalizing various industries, stealing money through taxes, forcing through wasteful healthcare, etc). And this whole bizarre discussion ends with another zinger:

"We must realize that we infect the atmosphere with our thoughts. We create exactly what we think about. That may sound like some simplistic, new-thought mumbo-jumbo, but your belief is not required for this to be true. It is the law of the universe and no amount of resistance will change it. It is simply the way it is".

Yes, Your Vickers Holiness, we bow to your superior insights!

Chapter 5 is odd, in that it makes a lot of suggestions, again a confused mixture of libertarian, environmentalist, new-age and plain-old revolutionary, which we should follow, whether to avoid the cataclysmic collapse or to prepare for the New World Order afterwards - not clear which.

The Federal Reserve is lambasted, we are exhorted to "vote on character, not by party", we are told to go back to a self-sustaining agricultural society (after having previously been told that only exports count!), and to shift our consciousness to Oneness, and finally, to "take it to the street".

As if the previous chapters were not confusing and weird enough, Chapter 6 goes into a completely different direction. Here Mr. Vickers seems to be "pitching" a disaster movie script to Hollywood by giving a minute by minute account of the cataclysmic events, as only he is privy to, leading to the New World Order. 

Tellingly, at the end of this chapter Mr. Vickers morphs back into his investment advisor personality with this piece of advise (could be right out of his firm's brochure): 

"We embrace bull and bear markets equally, seeking to profit from what the market gives us, just as we did in both the 2000-2003 and the 2007-2008 market collapses".  So people, not to worry, the world as we know it will collapse, governments and institutions will be swept away, but Mr. Vickers' investment advisors will survive and stand ready to help you profit.

So perhaps the movie Mr. Vickers is pitching is a combination of "War of the Worlds" and "Wall Street".

Enough said, this is complete BS.

In the remaining chapters Mr. Vickers brings down the tablets from the mountain and tells us how the "Central Government" of the "New World Order" should/will function. The image that jumps to my mind when reading this, was the scene from the original "The Wizard of Oz" when we finally see "The Wizard" behind the curtain, flashing lights, smoke and pulling levers.

Although these chapters, as indeed the whole book, contain nuggets of interesting, admirable, and worthwhile (but certainly nothing new) ideas, Mr. Vickers' presentation of this wild melange of conflicting, often completely unproven ideas and scenarios is just too schizophrenic to be taken seriously.

If one were serious about investigating the possibility of, and the path to, a New World Order, one could, for example, study the origins and evolution of the European Union and the Euro, from the cataclysm of two World Wars, to the humble beginnings of the "Montanunion" (Coal and Steel free trade), to the Rome Treaty creating the European Union, all the way to the creation of the common currency and the difficulties that has spawned.

The schizophrenic, confused, self-serving and pitifully incoherent book by Mr. Vickers, in my view, does more harm than good in charting a course into the future.

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