Standard and Poor's Claims Last Remaining Smidgen of Integrity, Finally Downgrades the United States Ponzi Scheme
Finally someone has the balls to tell the truth...the Emperor is naked. Our debt has finally been downgraded by a domestic credit rating agency other than China's Dagong. http://www.usatoday.com/money/economy/2011-08-05-s-and-p-downgrades-credit_n.htm I cannot think of a more appropriate metaphor than the original Anderson plot in the "Emperor's New Clothes." A quick refresher:
I think the story of the Emperor's Clothes perfectly illustrates the reluctance that Americans have when asked to accept the obvious. We are a bankrupt, debtor nation. We are a nation in decline. Our leaders simply cannot accept their responsibility in this situation. When that truth is widely accepted rather than denied- then and only then can we start to turn this mess around. We are in so much trouble on so many levels- that quite honestly I am not sure we can recover. I am getting a strong sense that there are many people like myself who are no longer in denial and realize just how desperate the situation is. They are searching for a rallying point. Let's hope one emerges and soon...
An Emperor who cares for nothing but his appearance and attire hires two tailors who promise him the finest suit of clothes from a fabric invisible to anyone who is unfit for his position or "just hopelessly stupid". The Emperor cannot see the cloth himself, but pretends that he can for fear of appearing unfit for his position; his ministers do the same. When the swindlers report that the suit is finished, they mime dressing him and the Emperor then marches in procession before his subjects, who play along with the pretense. Suddenly, a child in the crowd, too young to understand the desirability of keeping up the pretense, blurts out that the Emperor is wearing nothing at all and the cry is taken up by others. The Emperor cringes, suspecting the assertion is true, but holds himself up proudly and continues the procession.
I think the story of the Emperor's Clothes perfectly illustrates the reluctance that Americans have when asked to accept the obvious. We are a bankrupt, debtor nation. We are a nation in decline. Our leaders simply cannot accept their responsibility in this situation. When that truth is widely accepted rather than denied- then and only then can we start to turn this mess around. We are in so much trouble on so many levels- that quite honestly I am not sure we can recover. I am getting a strong sense that there are many people like myself who are no longer in denial and realize just how desperate the situation is. They are searching for a rallying point. Let's hope one emerges and soon...
Comments
Being spent into oblivion on programs no one wants are are unconstitutional to boot...what did anyone expect would happen!?
Today's paper brings the announcement that yesterday Obama proposed tax breaks for employers who hire veterans. Guess he was trying to buy the military vote there...with more tax incentives (loop holes) for favors. With the other hand, he kills employers with Obamacare and more regulations. Isn't this what we are all sick of? Fabian nightmares?
So....it either implodes by it's own combustion, or we grab it and strangle the life out of this monstrous federal government. Who will do it? That is the question...
I think the problem is indecisiveness. I had a Chief I used to work for, a great guy, my all time fav. But his indecisiveness drove me bat shit crazy. Of course it was all fear based. Always worrying about what others thought but he survived politically a lot longer than I did. So indecisveness has merit- when all you are concerned about is your own survival.
There can be no compromise on the debt ceiling. It would be a wonderful time for the government to eliminate that pathetic and monstrous tax code once and for all.But the problem is that the ruling class- like it just the way it is. They know in any re-configuration under present circumstances that they are gonna get hosed.
I have said this often. Slash and burn government now or die a debtors death. There is no compromise. Increasing tax rates over the years has taught us one thing. Government is never satiated and so the only other solution- is to get rid of as much of it as you can. I think a wonderful start would be the Departments of Energy and Education. Poof. Gone. Nobody would even notice.