The Warning Bell Tolls On the USS Debt Titanic
I can hear that bell a ringin'. How long will it be until the USS Debt Titanic slips below the waves?
By my 'ciphering, we are past the mathematical zenith of our national debt trajectory. The question of collapse is no longer "if" in my mind, it is simply a matter of when. You do not have to be a mathematical genius to see this. We simply do not have the capacity to dig ourselves out of this mess like we have in the past. The difference this time is that we have lost as many as 30 million taxpaying jobs in the past 10-15 years. Remaining jobs are paying squat. Inflation is kicking all of our collective asses irrespective of those fraudulent numbers our government puts out. Those numbers exclude food and energy, they exclude rising taxes, they exclude rising rents and insurance, and they exclude dwindling salaries or excess capital which people are now using to pay for their own health care needs (which are also rising) in between bankruptcies.
This facade of an economy cannot forever stand against the building pressure of debt, lies, and manipulation.
They can't skew every number- there is one number that never lies. U.S. tax receipts. They are down 9 billion year over year through February. So while your government and head cheerleader (and media) talk big recovery- the facts do not reflect that.The stock market is a paper tiger propped up with counterfeited FED generated federal reserve notes and laundered through primary dealers.
Can you envision the miracle that makes this mess go away? I can't.
That miracle would require tremendous sacrifice on the parts of both houses in Congress and the Presidency. It would also require the will and sacrifice of the American people who are currently mired in tar pits of apathy while searching for pictures of Lady Gaga on their I-phones. So if you are pinning your hopes on our intellectually retarded population and the courage of our politicians- you are entitled and will receive...my personally handcrafted Frankenstein Government Eternal Optimist Award. This year I have polished, painted, and clear coated some authentic Black Labrador shit which I will ship to you first class with my very own personal award letter.
If however, you are somewhat mathematically inclined or predisposed to hearing the truth, maybe this guy can get it done for you. His credentials, while amounting to vast overkill, should satisfy most. He is author and M.I.T. whiz kid, Daren Acemoglu. His recent book, "Why Nations Fail" is gaining support although I am confident that our unconscious and mildly retarded, "goo goo for Gaga American majority" will not be reading it anytime soon. Here's a snip I stole from the comments on ZeroHedge regarding Acemoglu:
The new book that's surging is Why Nations Fail;
--co-written by --
Daron Acemoglu, a fairly credible M.I.T. economics professor, who is essentially stating outright that the U.S. Economy is severely bad, getting worse, and headed straight towards collapse. It would appear that he is insinuating that Deep Capture's opening of a fatal wound in the fundamental economic structure of the U.S. is prompting the Federal Reserve to accelerate its central mission of transferring the remaining value of the holdings of the 99.9x% to the 0.01% on an expedited basis.
It would appear that he has no desire to be part of the Confidence Fairy club.
It’s the Economy: Why Some Countries Go Bust
TPTB= The Powers That Be.
The wealth effect and transfer occurs when counterfeited money is given to the first recipient. The first recipient spends it (obtaining full current value, primary dealers, bankers, and members of the FED) and then it enters the economy where the newly minted money dilutes the existing money supply. The more our money supply is diluted with excess money, the more worthless the existing supply becomes.
It is the QUANTITY of un-backed money printing that causes runaway inflation like the inflation we are feeling now. They are even using excess money printing to short precious metals while central banks are grabbing all of the physical gold that they can.
The only thing that amounts to an opinion in this piece is whether or not, mathematically, we can un-bury ourselves with the MIA income of 30 million jobs and subsequent to that failure- when does the economic collapse occur? Where is the capacity to pay the principal on 16 trillion with another 100 trillion coming due and payable in the next twenty years? That does not count the liabilities of Fannie, Freddie, Obamacare, or interest rate hikes. So if you know the answer, do tell. I'm all ears. That's either the bell on the USS Debt Titanic or I have Tinnitus.
http://www.econtalk.org/archives/2012/03/acemoglu_on_why.html
By my 'ciphering, we are past the mathematical zenith of our national debt trajectory. The question of collapse is no longer "if" in my mind, it is simply a matter of when. You do not have to be a mathematical genius to see this. We simply do not have the capacity to dig ourselves out of this mess like we have in the past. The difference this time is that we have lost as many as 30 million taxpaying jobs in the past 10-15 years. Remaining jobs are paying squat. Inflation is kicking all of our collective asses irrespective of those fraudulent numbers our government puts out. Those numbers exclude food and energy, they exclude rising taxes, they exclude rising rents and insurance, and they exclude dwindling salaries or excess capital which people are now using to pay for their own health care needs (which are also rising) in between bankruptcies.
This facade of an economy cannot forever stand against the building pressure of debt, lies, and manipulation.
They can't skew every number- there is one number that never lies. U.S. tax receipts. They are down 9 billion year over year through February. So while your government and head cheerleader (and media) talk big recovery- the facts do not reflect that.The stock market is a paper tiger propped up with counterfeited FED generated federal reserve notes and laundered through primary dealers.
Can you envision the miracle that makes this mess go away? I can't.
That miracle would require tremendous sacrifice on the parts of both houses in Congress and the Presidency. It would also require the will and sacrifice of the American people who are currently mired in tar pits of apathy while searching for pictures of Lady Gaga on their I-phones. So if you are pinning your hopes on our intellectually retarded population and the courage of our politicians- you are entitled and will receive...my personally handcrafted Frankenstein Government Eternal Optimist Award. This year I have polished, painted, and clear coated some authentic Black Labrador shit which I will ship to you first class with my very own personal award letter.
If however, you are somewhat mathematically inclined or predisposed to hearing the truth, maybe this guy can get it done for you. His credentials, while amounting to vast overkill, should satisfy most. He is author and M.I.T. whiz kid, Daren Acemoglu. His recent book, "Why Nations Fail" is gaining support although I am confident that our unconscious and mildly retarded, "goo goo for Gaga American majority" will not be reading it anytime soon. Here's a snip I stole from the comments on ZeroHedge regarding Acemoglu:
The new book that's surging is Why Nations Fail;
--co-written by --
Daron Acemoglu, a fairly credible M.I.T. economics professor, who is essentially stating outright that the U.S. Economy is severely bad, getting worse, and headed straight towards collapse. It would appear that he is insinuating that Deep Capture's opening of a fatal wound in the fundamental economic structure of the U.S. is prompting the Federal Reserve to accelerate its central mission of transferring the remaining value of the holdings of the 99.9x% to the 0.01% on an expedited basis.
It would appear that he has no desire to be part of the Confidence Fairy club.
It’s the Economy: Why Some Countries Go Bust
"By his own admission, Daron Acemoglu is a slightly pudgy and fairly nerdy guy with an unpronounceable last name. But when I mentioned that I was interviewing him to two econ buffs, they each gasped and said, “I love Daron Acemoglu,” as if I were talking about Keith Richards. The Turkish M.I.T. professor — who, right now, is about as hot as economists get — acquired his renown for serious advances in answering the single most important question in his profession, the same one that compelled Adam Smith to write “The Wealth of Nations”: why are some countries rich while others are poor?
Acemoglu, told me that financial firms have so thoroughly co-opted the political process that the American economy has become fundamentally unsound. “It’s bad and getting worse,” he told me. Barring some major shift in our political system, he suggested, the United States could be on its way to serious economic failure.Or, stated alternatively, it would appear that he, like a select few others, believes that TPTB have lost control of the propaganda war, as the masses realize a large gap between what they're being told by the media and government officials, lose confidence in the very structure and foundation of the system, and that given this awakening taking place, TPTB that rely on the Fed Reserve as their wealth transfer mechanism can no longer afford to try to slowly simmer the frogs, and a quick boil it will have to be (in order to plunder while the plundering is good).
TPTB= The Powers That Be.
The wealth effect and transfer occurs when counterfeited money is given to the first recipient. The first recipient spends it (obtaining full current value, primary dealers, bankers, and members of the FED) and then it enters the economy where the newly minted money dilutes the existing money supply. The more our money supply is diluted with excess money, the more worthless the existing supply becomes.
It is the QUANTITY of un-backed money printing that causes runaway inflation like the inflation we are feeling now. They are even using excess money printing to short precious metals while central banks are grabbing all of the physical gold that they can.
The only thing that amounts to an opinion in this piece is whether or not, mathematically, we can un-bury ourselves with the MIA income of 30 million jobs and subsequent to that failure- when does the economic collapse occur? Where is the capacity to pay the principal on 16 trillion with another 100 trillion coming due and payable in the next twenty years? That does not count the liabilities of Fannie, Freddie, Obamacare, or interest rate hikes. So if you know the answer, do tell. I'm all ears. That's either the bell on the USS Debt Titanic or I have Tinnitus.
http://www.econtalk.org/archives/2012/03/acemoglu_on_why.html
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