The news media in this country are in a stupor. Either out of ignorance, or complete leftist bias to protect their socialist hero President Barack Obama, they have turned a blind eye toward the enormous disaster facing our economy.
The greatest Ponzi scheme in world history is coming to an end, leaving America on the precipice of economic Armageddon.
Legendary Wall Street investor Stanley Druckenmiller is calling the Fed’s bond purchases a fraud and a Ponzi scheme. Druckenmiller says, “There is a phony buyer of $19 billion per week of Treasury Bonds.” The phony buyer he refers to is the U.S. government. Druckenmiller knows that when a country resorts to buying its own debt, we are seeing the last days of the Roman Empire.
On the federal level, the trustees of both Social Security and Medicare admitted just this past week that their massive Ponzi schemes are running on empty. Both funds are running out of money far sooner than projected. Social Security will now run a permanent deficit. It is also important to remember there is no money in the “lock box.”
All that is in the lock box is worthless paper IOUs. It has all been spent.
Based on pre-1990 calculations, today’s CPI inflation is now over 10 percent and unemployment is 15 percent. This 25 percent misery index is, by far, the highest in modern history.
Even more foreboding, 10 percent inflation is a leading indicator of hyperinflation on the way. Any rise in inflation would force dramatic raises in interest rates, which would eat up the entire budget. Game over for America.
History always repeats. This vicious cycle of misery will force massive layoffs of government employees, and massive cuts in entitlements and social services. This will result in Greece-like levels of protests, government employee union strikes, unrest, and riots.
The ancient Chinese proverb says, “May you live in interesting times.” We are all watching history.
What is required in Congress is nerves of steel and common sense. What we have in Congress is useless, but dangerous, human debris. Our country needs a “do over”, plain and simple. We need a citizen Congress, and we need to rid ourselves of these professional career politicians. We need to classify the words “politician” and “politics” as obscene.
If there is anyone out there who is willing to defend “big government”, and all that it entails, I’m inviting him to do so on this thread. In my view “big government” cannot be logically defended.
What we are witnessing today should be adequate proof of the fallacy of stealing from workers to give to non-workers, of stealing from American workers that enables foreign recipients to rent $3000.00/night motel rooms, of waging PR wars against those who provide jobs, services, and goods, of accepting government backed unions who wind up making financial decisions within businesses while having no business acumen whatsoever, of allowing professional politicians make our decisions for us in matters of food,medicine, medical professionals, the auto industry, the farming community, hospitals, nursing homes ………….. name a facet of life, ANY facet, and you will find Big Brother hiding in the dark corner. What are we thinking?? Or ARE we thinking?
Every one of us taxpayers is seen by professional politicians as the enemy whose only value is the money they can extract from us for their own little sordid projects and social engineering.
Could we get a movement started, the mission being to have a special election in which we can vote out, simultaneously, every elected official who holds federal office? If we can’t convince this bunch of losers in DC to take the necessary steps to correct their wrong moves, and if they cannot be shamed into doing the right things instead of the expedient things, then let’s have one big special election called ASAP.