We are bankrupt and insolvent. Figures cannot lie, liars figure. As many of you will note- I had this back and forth with some idiot on Huffington Post a week ago who maintains that we are not bankrupt- kind of like that idiot Krugman.
Where do we get these people?
This is the new normal. These morons think that math is some hideous Republican invention- like pro life and God. They think....and get this....that math is an opinion.
What happened in 2008 was unprecedented. Never in the annals of this country or our history had we
turned over the public coffers to bankers. Trillions of dollars.
It was the greatest theft ever conceived and when I tell you Bush and Obama deserve a prison cell- I am dead serious.
What did you think would happen? Did you think we were going to pay this back? That we were going to have this miraculous job growth even though we had lost 50 million jobs over the past 15 years?
We were structurally incapable of a recovery. We had lost every decent manufacturing job that we had. We had also allowed an illegal labor force to come over the border and steal as many jobs as they could. Not just in low paying crop picking occupations- illegal aliens were driving trucks, framing houses, starting businesses.
In 2008, we lost our Republic. It is not coming back. We shall have mob rule democracy until we finally have the economic implosion we all so richly deserve. This is what happens when an apathetic public plays chicken shit with the greatest Republic ever.
We lost it. Just like Ben Franklin said might happen.
From here on out...it is QE to eternity and government lies...about employment, about GDP, and debt ceilings. They are going to steal every tax dollar they can get away with. All of this ridiculous talk about the fiscal cliff? That ship sailed back in 2008.
Here's Art Cashin talking some crazy, Frankenstein Government, kind of talk.
Submitted by Tyler Durden on 12/11/2012 - 09:36Art Cashin Bill Gross Demographics Italy Medicare Tim Geithner Wall Street Journal
Yesterday's trading was a balance between Italy fears and fiscal cliff hopes-fears-and-hopes-again. While UBS' Art Cashin notes that on the bright side, this will all be over on December 21st when the Mayans predicted the end of the world, he also details what is perhaps even more fearsome - not-the-end-of-the-world as, in his words, demographics, destiny, and the fiscal cliff loom very large not just for the next few weeks but heading out over the next decade as baby boomers retire. As Cashin so wisely points out: "Somewhat lost in the posturing is the fact that the Fiscal Cliff was put in place to force Washington to address the exploding government debt problem. That problem is greatly exacerbated by the rapidly changing demographics in this country. If you fast forward 20 years until all the boomers are retired government debt (taking into account unfunded liabilities) soars to $202 trillion. Perhaps worth remembering that "The real problem is that regardless of the resolution it will not solve anything. We have passed the point of no return. We cannot mathematically solve this debt problem. We can only slow its progression."