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US Still Living on Borrowed Time

Pivotfarm's picture




 

Dreams usually come to an end when we get to the good part. The juiciest part of the American dream has ended too; except the country will be waking up in the middle of the cold dark night and see itself breaking out into a cold sweat. Isn’t it amazing how the US federal workers get back to work and the politicians and the mainstream media believe that things are all hunky dory in the good old Land of Dreams? Dream on! The problem has only been temporarily solved and it won’t go away as it has nothing to do with brinkmanship or gamesmanship as it always has done in the past. It’s the whole system that needs an overhaul. The swamp needs dragging so that we can get rid of the swamp flies that have been feeding off the country.

How many times have I heard people (including US citizens and not just the politicians) harping on about how resilient the US economy is, how much the Chinese will never be better than them and how they will always be top of the roost? The US has been waning for decades now on a credit-rich, cash-poor economy where the order of the day is reduced salaries and increased taxation while the unemployment numbers just keep getting cranked up one more notch.

The shutdown ended after 16 days and the people have now forgotten.

Despite the fact that it will rear its ugly head yet again by the time 2014 has rung in the New Year and before the decorations have been taken down. The US is doing what it has always done: it’s living on credit. Even the time that it has voted for the federal workers to get back to work is nothing more than borrowed. It can’t even buy time these days.

There are some that sit back in the US and laugh at the crisis that is going on in the European Union pointing their accusatory fingers at the countries that joined together, doomed to failure in their less-than-humble opinion. But, they are so caught up in finger-wagging ‘I-told-you-so’ declarations that they can’t see the whacking great big log that is in their own eye and that truly needs felling right now.

  • Analysts have suggested that there will be a loss of 4th-quarter revenues and rightly so for US companies.
  • US GDP forecasts were reduced by 0.6% for the 4th quarter 2013.
  • That’s a loss of $24 billion to an already hard-hit economy that is having trouble picking itself up out of the dust.
  • US GDP growth will probably be around the 1.6% mark rather than 2.2% that had been previously suggested.
  • Before the revision to 2.2%, growth in the 4th quarter had been predicted at 3%.
  • Confidence has never been lower in the US and the Bloomberg Consumer Confidence Index dropped to minus 31.
  • That’s the lowest that index has been since the end of 2011.
  • September was already bad enough at minus 9.

US: Obamacare


US: Obamacare

The federal workers may be getting their money back in a deal that was passed to back pay them for salaries that had been lost due to the shutdown. But, what about the contract workers and the companies that were sitting there twiddling their idle thumbs while Congress battled out the Obamacare stakes and everyone stood their ground?

Uncertainty about the future (as the waters have only be calmed for a few months) will mean that the holiday season will see reduced spending and further damage to the economy. The bill is becoming rather heavy to pay because of playing around in Washington.

US Republican Party


US Republican Party

 

The Republicans never lost support despite what some might have said. They will be in a position come January to pursue their political goals and wage their budget warfare once again. 38% of US citizens polled by the Pew Research Center said that they still saw the Republican Party favorably. The slogan of the Republicansright now that is hitting home is that they are the ‘Real Americans’. Sweeping reforms that will push the country into self-government and liberalism along with spending cuts that are reminiscent of the Reagan era might just hit home with today’s economic backdrop against which President Obama is being strongly criticized for spending more than any other president in the history of the US.

President Reagan once said in 1985 “you didn’t send us to Washington to feed the alligators, you sent us to drain the swamp”. He certainly drained the swamp and took away all the water. That’s for sure. But, he should have done away with the alligators as they have certainly been getting their teeth into the rest of the country for the past three decades.The country has been drained dry. The alligators took a sizeable bite worth $24 billion out of the US economy.

America: If you want your dreams to come true, then don’t go to sleep.

January 15th will be your wake-up call, Uncle Sam. 

 

Originally posted: US Still Living on Borrowed Time

 

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Tue, 10/22/2013 - 14:31 | 4080212 Trampy
Trampy's picture

¿Que?  ¿Anyone here in Ablurquerque?!  ¿Que? 

With my estimates indicating that ~99.9% of the Amerikan people are clueless zombies, there are probably fewer than a thousand people in the entire state capable of understanding things often bandied about here like parsing FSA as the sarcastic Free Shit Army ...  much less understand the "4th Reich" of my chawk messages on the college campus.

If I tell people that I can "see things that they can't see," they move away and avoid me like the plague. 

¡ It sure is loney at the top !!  Or bottom ...

Please contact me using the email address embedded in the PGP key under my Bio here.

Tue, 10/22/2013 - 12:08 | 4079701 Surging Chaos
Surging Chaos's picture

Federal spending has increased with every president. That includes Reagan too. He never "drained the swamp".

Tue, 10/22/2013 - 11:58 | 4079634 shovelhead
shovelhead's picture

Making predictions about political parties...

With the average news story lifespan of 5 days and a public attention span of even less and about half the people who vote making up their mind about 3 days before voting, I'd have to say it's a waste of time unless there's a juicy sex angle in the Oct. lead-in.

I see a big TP boost from Repubs bailing from the GOP Neo-con flagship because they have torpedo-ed themselves.

Self preservation is a trend worth following, but the question remains is can the TP dominate the conversation enough to pull the rest of the party with it?

 

 

 

Tue, 10/22/2013 - 11:06 | 4079470 Dealyer Turdin
Dealyer Turdin's picture

Reagan fed one alligator his brain.  Bush. Washington was drained from pissing all over America with no way to stop it.  Nancy Reagan, the War on Drugs, Crack Cocaine Iran Contra I guess if you spent the 80's counting Dollas and not looking up you might have fond memories, I remember a newspaper with 4 jobs in help wanted in a city of 70,000 inhabitants when I graduated, and no way was I gonna spend my days wrecking my eyeballs on some shite computer learning what passed for knowledge at college.  I can mop the deck with most people I grew up with because I didn't feed at the trough, before organic was screamin obvious, the best move was just mostly to starve... The way I look at it, the old herd needs finishing off before the ranchers can afford to raise beef.  This ain't a Buffalo Nation we gots here.

Tue, 10/22/2013 - 10:59 | 4079453 moneybots
moneybots's picture

"The alligators took a sizeable bite worth $24 billion out of the US economy."

 

How many trillions did the Wall Street parasites take out of he economy in 2008?

The government has borrowed 6 trillion to replace Wall Street losses.  That is a huge bite out of the economy.

 

 

Tue, 10/22/2013 - 10:42 | 4079379 moneybots
moneybots's picture

"How many times have I heard people (including US citizens and not just the politicians) harping on about how resilient the US economy is"

 

I remember when Bob Brinker was mocking the "bad news bears" after the 76% Nasdaq crash, as the market was climbing again.  He chortled that the market and the economy were resilient.

In 2009 he was left unable to say that anymore, with the S&P lower than it was in 2002 and the economy in the worst recession since the Great Depression.

Every economy is resilieint in regard to the fact that it does not stay in a recession permanently.  I can say the North Korean economy is resilient, or the Greek economy, as everyone has not starved to death, yet.

The simple fact is, however, that the debt ceiling threat predicted an alleged recession and even meltdown if the borowing was not allowed to continue.  If the threat was real, that exposed the resilient economy for what it really is, a sham.

Tue, 10/22/2013 - 11:09 | 4079482 czardas
czardas's picture

The fact is that while every economy is tentaive ours IS resilient - mainly because we are drawing on the dwindling reserves of our historical economic greatness.  Put it another way, it would have to be resilient to withstand the never-ending onslaught of taxes, regulation, favoritism, debt, inefficiency and mismanagement from DC.  But, like the warnings about our education system when I was younger, actions do have consequences that eventually play out in the market place. 

Tue, 10/22/2013 - 09:36 | 4079170 AGuy
AGuy's picture

"The Republicans never lost support despite what some might have said. They will be in a position come January to pursue their political goals and wage their budget warfare once again. 38% of US citizens polled by the Pew Research Center said that they still saw the Republican Party favorably. "

I disagree on this point. The majority of voters are Boomers and retirees. The Budget battle was fought mostly over major cuts to entitlements which neither retirees or boomers nearing retirement want to hear. The DNC will highlight this and use the media to broadcast that the RNC tried to dismantle entitlements. The RNC is finished and the US will morph into a single party state just like Japan. We are turn Japanese, not only in economics but in Politics as well.

Its very likely that the RNC will split, between the GOP and the Tea Party weakening its chances much like Ross Perot did during the 1992 election. I think the Spilt will happen after the mid term elections as the old GOP try to avoid change and side with the DNC to retain seats and the Tea Party will be disgusted by this move. The RNC is play Checkers in a Chess Game with the DNC.

The only chance in 2016 for the RNC is Obamination Care Act, which is raising premiums and likely to decrease healthcare coverage for most americans. I am not sure how the DNC can deflect this on to the RNC, but so far blaming Bush has worked well for them.

Tue, 10/22/2013 - 11:15 | 4079508 czardas
czardas's picture

We have most likely evolved into a semi-permanent state reflecting the country - wide-spread but shallow GOP support and limited but very deep DEM support.  It explains why the House will remain GOP and the Senate and President will go DEM.  I wrote my (GOP) senator (who I know) after this latest fiasco and explained that his party has not grasped that the majority (non=producers) does not WANT to reduce spending, taxes, limit government, curb social programs or stop the gravy train and that he and his colleagues were preaching to an ever-dwindling number of voters. 

What a conundrum.  The only way in America to win is to promise freebies and we are bankrupt!

Tue, 10/22/2013 - 09:35 | 4079162 shovelhead
shovelhead's picture

...And now for the 'You can't fix stupid' portion of our program...

http://news.investors.com/ibd-editorials/102113-675996-bofa-wells-citi-j...

 

 

Tue, 10/22/2013 - 09:29 | 4079136 ebworthen
ebworthen's picture

"Sweeping reforms."

The only sweeping will be by the janitors in the Capitol; the rest is talk.

Tue, 10/22/2013 - 09:47 | 4079212 covert
covert's picture

tj's warning is still being ignored to the detriment of the future.

 

http://covert.nl.ae/forum/viewtopic.php?f=26&t=12

Tue, 10/22/2013 - 11:11 | 4079487 ebworthen
ebworthen's picture

"404 Not Found" error on the link (?).

Tue, 10/22/2013 - 08:28 | 4078881 BigSimes
BigSimes's picture

You Americans will not wake up from the Big Dream: endless debt for future generations, mighty battle fleets and 'welfare creep'.

The sheeple will continue the sleep walk, until one day the Chinese Waiter at the Chinese Resturaunt becomes your employer and says, "I worked for 2 cents an hour, you can too!"

By that time, the "have's" will have high fences & 24 hour CCTV.

The "have-nots" will be subdued from rioting by beefy local law enforcement.

All this is history, repeating itself. Downfall of Rome? That took a long time.

The Big Dream is very cosy - who would want to wake up from it, except to slit their wrists because it's too late?

 

Tue, 10/22/2013 - 08:51 | 4078988 shovelhead
shovelhead's picture

No problem.

We'll just invade your country and make you work for us.

It will be fun.

Tue, 10/22/2013 - 10:04 | 4079254 williambanzai7
williambanzai7's picture

You are making an assumption that they work in his country.

Tue, 10/22/2013 - 10:58 | 4079451 shovelhead
shovelhead's picture

Touche'

Tue, 10/22/2013 - 07:46 | 4078780 Ar-Pharazôn
Ar-Pharazôn's picture

in january they will kick the can down the road exactly like they just did

Tue, 10/22/2013 - 06:57 | 4078732 Bangin7GramRocks
Bangin7GramRocks's picture

Real Americans huh? Not too divisive now is it. Will they be passing out white sheets and hoods at all rallies? Reagan drained the swamp! He created more welfare queens than all previous presidents combined. The only difference was that Ronnies queens all wear suits and cost considerably more to support. 

Tue, 10/22/2013 - 13:50 | 4080007 aardvarkk
aardvarkk's picture

White sheets and hoods?  Give me a break.  I have no patience for the claimed virtues of either party OR their pretend smears on the other party, but the Dem posing as the "party of inclusion" and smearing team Red as the party of racism is the stupidest, most bald-faced lie in politics.  And that's SAYING something.

Come back and play when you can explain Exalted Cyclops Robert Byrd of the KKK (D-WV), or when you can explain why the Dems were the near-unanimous party of the Confederacy while the Rs freed the slaves, or when you can explain why the Dems fought tooth and nail against the Civil Rights Act while the Rs pulled them over the finish line.

Tue, 10/22/2013 - 12:31 | 4079778 No Euros please...
No Euros please we're British's picture

Real Americans? What you mean like those terrorists who claimed to own N America before it was liberated by the Europeans?

Tue, 10/22/2013 - 08:41 | 4078949 CH1
CH1's picture

Real Americans huh? Not too divisive now is it. Will they be passing out white sheets and hoods at all rallies?

I didn't take it that way at all. I thought the author meant "productive Americans who give a shit." That includes dark guys too.

Tue, 10/22/2013 - 11:32 | 4079577 Debt Slave
Debt Slave's picture

Yeah well ...

Tue, 10/22/2013 - 08:37 | 4078932 shovelhead
shovelhead's picture

Did you mean the House of Representatives, where spending originates, that was 100% controlled by Democrats during the Reagan administration?

A President can't spend a dime. He can only beg or veto.

Tue, 10/22/2013 - 06:53 | 4078728 Cloud9.5
Cloud9.5's picture

When the dreamer awakes, it is the end.

Tue, 10/22/2013 - 06:35 | 4078707 WTFUD
WTFUD's picture

' Fleece the world '
' Let them know it's christmas time '
' Fleece the world '
( courtesy of bob geldoff or sir bob )

Beats me how muppetised the ussa is; don't know shit from shinola.

Tue, 10/22/2013 - 05:28 | 4078658 underman
underman's picture

I'm still rolling on the floor about the 35 floppy disks.

Tue, 10/22/2013 - 04:05 | 4078621 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

The whole system needs an overhaul.

 

Eh. The whole system needs to crash. and reboot. and some heads will have to roll in the process.

 

I WANT HARRY REID, he pisses me off the most. fucking leech.

 

http://www.youtube.com/watch?v=6UEheGtiqcY

Tue, 10/22/2013 - 08:50 | 4078982 drendebe10
drendebe10's picture

Control-alt-delete

Tue, 10/22/2013 - 08:50 | 4078978 drendebe10
drendebe10's picture

Control-alt-delete

Tue, 10/22/2013 - 06:31 | 4078696 Ying-Yang
Ying-Yang's picture

"America: If you want your dreams to come true, then don’t go to sleep."

Really?

Those who are awake will not go to sleep. We are living the American Scream.

FED UP and not taking it anymore.

Tue, 10/22/2013 - 10:54 | 4079436 0b1knob
0b1knob's picture

American dream?   Watchmen comment:

https://www.youtube.com/watch?v=xkCscoOquk8

Tue, 10/22/2013 - 11:45 | 4079627 OutLookingIn
OutLookingIn's picture

George Carlin said it best;

"Nobody seems to notice. Nobody seems to care.

There is a reason why they call it the 'American Dream'

You have to be asleep to believe it."

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