Some people theorize that the terrorist acts of September 11, 2001 were part of a long-term plan to strike at the heart of the United States through financial instability. The Bush administration had no long-term growth plan, and in fact had very few plans at all. After September 11 the Bush administration spent trillions of dollars. A growth plan had to be invented. Low interest rates and home refinancing was the best way to put money into the economy. It was a failed experiment. How are Islamic banks doing now? Quite well, as you can see:
Islamic banks reported healthy gains in earnings ranging from 53 per cent second quarter gain by Abu Dhabi Islamic Bank to Dh276 million to a more than three-fold increase in first half earnings reported by Emirates Islamic Bank to Dh320 million. ADCB and a handful of Saudi conventional banks also reported advances in half year earnings when compared to last year.
Islamic banks are unhurt by the United States financial mess. Over the last 68 years every major US experiment has failed in the first phase of experimentation. Why would an experiment under the Bush administration be any different? There is no way to regard the financial mess, high gas and oil prices, bailouts of Fannie Mae and Freddie Mac, etc., etc., as anything but an uncontrolled failure. Islam knew Bush was simple and predictable. In 2001 I told my wife, as we watched the aftermath of 911 and the buildup of war against Iraq, that Islam had a long term plan. We see it today.
I was born in Saudi Arabia, although a naturalized American. My father worked for Arabian American Oil ARAMCO. One must understand the Arab mindset, and the fact that time has no real meaning. All in good time, God willing. Bush needed to do something immediately. The Arabs did nothing but set a plan in motion. Nancy Pelosi said Bush has been a total failure in every aspect. “God bless him, bless his heart, president of the United States — a total failure, losing all credibility with the American people on the economy, on the war, on energy, you name the subject,” Pelosi told CNN’s Wolf Blitzer in an exclusive interview.
I agree with Pelosi. And I firmly believe, knowing the Arabs as I do, that the scheme of events set in motion in 2001 are having the desired outcome today. Yes, the United States will survive. Our banks, however, turned to foreign capital to stay alive. Part of America was sold. Another part was hurt badly. Are comments by Pelosi playing into the hands of Islam, or simply telling the truth? That is a good point for debate. But any plan set in motion in 2001 that causes pain, foreclosures, unemployment, strained budgets and bankruptcies in 2008 — and beyond — bears considerable watching.