We are lending money that we don’t have to kids that will never be able to pay it back, to educate them for jobs that no longer exist. —
Mike Rowe on Real Time with Bill Mahr
The actions in Cyprus might very will dictate how America goes about paying off our National and State/Local debt. Scary stuff.
Who actually gives a shit about the National Debt?
Why, especially, do any libertarians care?
I say, lower all taxes to zero, and raise the debt limit to infinity. Let the US government borrow as much as it is able, as long as it is able, to fund its craziness.
That’s pretty much what it does already. Who gives a shit about a “balanced congressional budget”, tho? I say, spend spend spend spend. If The country goes broke, good. If the country manages to stay afloat on nothing but borrowing, well then we all get free shit so that’s good too.
Since money doesn’t exist and it’s just value-through-perception, this is somewhat possible as long as all the countries of the world are willing to keep up the illusion.
Then again, what happens when all that money floods through the system and inflation kicks in, worldwide?
37 Facts about the economy under our current government
1. One recent survey discovered that 40 percent of all Americans have $500 or less in savings.
2. A different recent survey found that 28 percent of all Americans do not have a single penny saved for emergencies.
3. In the United States today, there are close to 10 million households that do not have a single bank account. That number has increased by about a million since 2009.
4. Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.
5. The number of Americans living in poverty has increased by about 6 million over the past four years.
6. Median household income has fallen for four years in a row. Overall, it has declined by more than $4000 over the past four years.
7. 62 percent of middle class Americans say that they have had to reduce household spending over the past year.
8. According to a survey conducted by the Pew Research Center, 85 percent of middle class Americans say that it is more difficult to maintain a middle class standard of living today than it was 10 years ago.
9. In the United States today, 77 percent of all Americans are living to paycheck to paycheck at least some of the time.
10. In the United States today, more than 41 percent of all working age Americans are not working.
11. Since January 2009, the “labor force” in the United States has increased by 827,000, but “those not in the labor force” has increased by 8,208,000. This is how they have gotten the unemployment numbers to “come down”.
13. Today, about one out of every four workers in the United States brings home wages that are at or below the federal poverty level.
14. Right now, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
15. At this point, less than 25 percent of all jobs in the United States are “good jobs”, and that number continues to shrink.
16. There are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
17. According to USA Today, many Americans have actually seen their water bills triple over the past 12 years.
18. Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.
21. According to one recent survey, approximately 10 percent of all employers in the United States plan to drop health coverage when key provisions of the new health care law kick in less than two years from now.
22. Back in 1983, the bottom 95 percent of all income earners had 62 cents of debt for every dollar that they earned. By 2007, that figure had soared to $1.48.
23. Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.
24. Total consumer debt in the United States has risen by 1700 percent since 1971.
25. Recently it was announced that total student loan debt in the United States has passed the one trillion dollar mark.
26. According to one recent survey, approximately one-third of all Americans are not paying their bills on time at this point.
27. Right now, approximately 25 million American adults are living at home with their parents.
28. The percentage of Americans that find that they are able to retire when they reach retirement age continues to decline. According to one new survey, 70 percent of middle class Americans plan to work during retirement and 30 percent plan to work until they are at least 80 years old.
29. The U.S. economy lost more than 220,000 small businesses during the recent recession.
30. In 2010, the number of jobs created at new businesses in the United States was less than half of what it was back in the year 2000.
32. Approximately 57 percent of all children in the United States are living in homes that are either considered to be either “low income” or impoverished.
33. In the United States today, somewhere around 100 million Americans are considered to be either “poor” or “near poor”.
34. In October 2008, 30.8 million Americans were on food stamps. Today, 46.7 millionAmericans are on food stamps.
35. Approximately one-fourth of all children in the United States are enrolled in the food stamp program.
36. Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government. And that does not even count Social Security or Medicare.
37. According to the U.S. Census Bureau, an all-time record 49 percent of all Americans live in a home where at least one person receives financial assistance from the federal government. Back in 1983, that number was less than 30 percent.
But no, really, it’s okay; vote for Bush/Obama/Romney. Maybe this time it will work out for you.
Right, this is why the Keynesian theory promotes insurmountable debt and endless borrowing from the central banks.
The Circus of Fiat Currency
In America, money grows on trees.
It also grows in ink wells and on printing presses. Magicians at the Federal Reserve make it appear out of thin air as they are showered with applause from ticket holders in Congress. “Do it again! Do it again!” as the Fed throws money at the audience. The magic money funds every ridiculous and asinine endeavor of everyone in government and their corporate guests.
The only people who don’t benefit from this perpetual wealth-from-nothing system are the majority of citizens that actually end up footing the bill in the end. They actually see their wealth disappear into that very air that these money magicians once pulled it from. It’s taken in the form of taxes to pay off debt and interest and it literally disappears in the form of inflation and devaluation.
The clowns in congress have endless entertainment, thinking that money will continually flow like it’s coming out of the trunk of a clown car. The ringleaders at the bank have complete control of the animals they’ve been taming for nearly 100 years. The corporations don’t mind as long as they get to build bigger tents with higher tightropes and larger and cushier safety nets. And the ticket holders, that us, the American people, we all bought tickets to a show that we didn’t get to see and on the way out we had to clean up the elephant manure ourselves.
This is the Circus of Fiat Currency and we all enslaved in it.