Monday, February 3, 2014

A President, Completely Detached From Reality, Sells MyRa

This morning I was looking over financial markets to see just how bad things were eroding. As I was doing that, I stumbled onto an article talking about another Obama proposal. I realized I had skipped Obama's State of the Union speech and therefore I must have missed Obama unveiling a new retirement plan for Americans.

The new MyRa plan would allow Americans to buy government debt, bonds, directly from the government to secure some sort of return for "retirement." Buy the debt of a country already 17.5 trillion in the hole with no way of reducing the principal amount. The article I read was actually selling this as a good idea. I am in awe once again.

This government just can't keep it's hands off your money.

I cannot stop thinking about Japan. With a debt to GDP ratio north of 220%- Japanese citizens own most of the country's debt. This is precisely what President Five Iron wants you to do. Start buying American debt because nobody else in the world will. They have run out of customers and you are the customer of last resort.

Anybody, with half a brain, is not going to buy the debt of a country offering no collateral with a currency on the verge of default. But maybe the American sheeple will. 

This is a government that simply refuses to quit spending- ever. 

I fell into the government trap years ago. I started a secondary retirement plan because I could do so "tax free." What a line of shit that was. I was barely able to hang onto it through a divorce and then I caught the great depression. I was forced to cash out that retirement plan. The government took it's 10% penalty, another 20% off the top in taxes, and the state took their 6%.

So not only did I lose nearly half the value of my savings but I also received what remained- in newly minted, inflated QE dollars.

Don't ever, ever, forget what I am about to tell you. Don't ever trust this government. If it is offering you a "retirement plan" what that really means is that the government wants to steal your money, change the rules at will, and the money you save today will be paid back to you at some future date with a completely devalued currency that the government can print at will- backed by nothing. Zimbabwe dollars.That's the real key. The government will simply erode your savings completely away by printing money.

That's their solution. A hyperinflation event is the only means of eliminating the debt they have accumulated and I guarantee you it will happen.

If all of this weren't bad enough- we haven't even seen the effects of Obamacare yet not to mention the 8 new tax hikes going into effect after this year. I think President Five Iron is beginning to realize that Obamacare is DOA.

Compounding this even further, the entire working middle class is broke. They don't have money for retirement. There are 100 million of us out of the labor force. What the following chart doesn't capture is the 5% decline in disposable income from 2009 until now- double what this graph depicts.

To call Obama reckless is too simplistic. This is a guy completely detached from the reality of what is actually occurring in this country. The government is quickly running out of tricks. Don't fall for this one.


Falcon said...

This sounds like the Government employees Thrift Savings Plan I use to belong to. Don't kid your self the assholes borrowed money out of it once before. I pulled it all out with what you said--with the penalty,taxes, and etc. but I least had it out of the governments hands. Fuck them and the ship they ride on.

Jim at Asylum Watch said...

I want to say that no American could be so stupid as to fall in that trap again. The Social Security lock box was broken into years ago and now has only a bunch of useless IOU's in it. Medicare is bankrupt. The country will be $20 trillion in debt by the time Obama is out of office. The Middle Class has been getting hosed since at least 2000 and now they have to contiue stuggling while dragging the ObamaCare anchor along with them. Only fools would trust our government with their money; but it seems there are plenty of fools out there. So very sad, my friend!

Hacksaw said...

Falcon said it best and I'll add my 2 cents with it.............Fuck them and the ship they..(ride)..??.. on.
Fuck'em all and that includes the chief fuckstain... him- narcissistic-self.

Anonymous said...

About your divorce, Brian, just be thankful your ex wasn't awarded "vaginamony". That would have been a major fuckover.

Brian said...

It was worse than that. Along with the house she got my truck. Gawd I miss that truck. It had a 460, chipped.

Anonymous said...

Spot on Brian. My dad since I was 10 told me to never trust the government or depend on it for anything. He was a WW2 vet as was "everyone" back then. I never understood why he felt that way as he was a very successful small business owner. Well once I joined the workforce at 16 I figured it out. Govt always takes and never gives to a working stiff. The QE going on makes me sick as does the ACA and the blatant lying by governemnt officials... ya right they dont keep our phone records. ya right you can keep your health care?

Anonymous said...

Man we are sooo fucked.

Anonymous said...

Amen, Brother!

Anonymous said...

That definitely sucks (at the very least I would have unleashed a huge crate of cockroaches in the house as I was leaving, just so she'd have some company, and don't even mention the truck, that really hurts). Sorry, bro.

Anonymous said...

Back to the Perot speech: ala 1992-data points:


The jackass gov't, has spent $13.5-trillion since 1992.

Where has all the money gone? We can't even afford infrastructure improvements anymore. I live in Pennsylvania, and they just privatized all the collapsing brides. Not close to it, but I'm sure we're in for a hosing. Will we be known as the toll booth state?

Here's where all the money has gone:

Warren Buffett who has been a major Bernanke supporter and benefited directly from the Fed bail out of Goldman Sachs by buying stock in Goldman THE DAY BEFORE THE FED AND THE TREASURY LAUNCHED THEIR BAIL OUT PROGRAMS.

And Martha Stewart goes to jail for insider trading. Put Mr Dilly bar in there instead.

And of course in the banker's and WALL ST's pockets.

We get the crumbs.

Brian said...

Excellent observations. I can't stand Warren Buffett. He is just a fucking robber baron of a different sort.

Falcon said...

I meant sailed on I was furious over when I read that. I also lived in NC and now have paid 11 years @450.00 dollars to my ex -wife until she dies. I now live in Western PA were they are going to privatize maintenance on all the bridges---Can you say corruption???? My God the middle class is getting screwed.