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The End Game For Government Intervention Is Here
If you believe that our leaders have even the slightest clue of how to solve the economy’s problems, Obama’s jobs proposal should rid you of your delusion.
This is not a matter of political affiliation nor is it an attack of Obama as a person. It’s a simple matter of basic math.
Obama wants to spend roughly $500 billion to create two million jobs (that’s the claim at least). Put another way, Obama would spend roughly $250,000 to create a single job. That’s a heck of a lot of money in an economy in which the average income is $50K or so.
That’s just the basic math. I’m not even bothering to assess the fact that the Government is already spending over $1 TRILLION per year and hasn’t created a sustainable job recovery.
So how exactly will another $500 billion change things?
Also, where is the Government going to come up with this money exactly? Didn’t we just say we needed to hike the debt ceiling by another $500 billion? Aren’t we already running Debt to GDP and Deficit numbers that are on par with Greece: a country that is guaranteed to default in the near future?
Folks, this is the hard truth: the US is broke and our leaders have no clue how to solve any of the structural issues our economy and markets are facing. They’ve spent TRILLIONS propping up the stock market but haven’t created new jobs nor have they improved Americans’ quality of life in the last two years.
In other words, we’re at the End Game for Government Intervention in the economy and marketplace. Greece has already shown us what’s coming: default and debt restructuring.
After all, there are only two ways to deal with a debt problem:
1) Pay it off
2) Default
The US has no chance at all of ever paying off its debts, which means some form of default and restructuring is coming our way in the future. And when this hits, it will make 2008 look like a picnic.
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Good Investing!
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I agree... I am tired of his writing... very panicky... not that this situation does not call for panic.
The USA... if it goes... will not go quietly... more like in a fire and blood soaked war extravaganza!
This guy does not realize that if the end game trully is here then he should be hiding in a fall out shelter. The USA will not go quietly... it will take the rest of the world with it in a fire and blood soaked rampage... nothing new... just part of history...
If you believe that our leaders have even the slightest clue of how to solve the economy’s problems then you are on the wrong tack.....If you believe that our leaders goal is Ordo ab Chaos then you are on the right track.
After all, there are only three ways to deal with a debt problem:
1) Pay it off
2) Default
3) Kill a hell of a lot of the population to rebalance the ponzi structure and make it more manageable.
"So how exactly will another $500 billion change things?"
It will help re-elect Obama.
He is doing the right thing! -- America's role in global trade is to be good consumer and this will enable us to perform our designated role. The dollar shower will percolate thru our economy and ignite economic activity here and abroad for a short while. After that we baffle with bullshit about a little austerity, debt reduction, etc. and buy some time. Then it is time for another spending program... Simple!
End Game for Government
FTFY
I'm so tired of politically correct lies. The predators-that-be and predator-bankster-class have known exactly what they're doing for at least 100 years, and especially so for the past 2 or 3 decades.
Furthermore they know perfectly well how to fix the economy - have themselves arrested, tried and hung for treason and crimes against humanity, adopt honesty, liberty and productivity as the "way of life", adopt a pure, honest gold standard, and terminate the federal reserve and federal government of the USSA.
The predators-that-be and predator-bankster-class suffer ZERO confusion about what they're doing and the obvious consequences. They know perfectly well ALL modern economic problems are a direct consequence of their practices, and their purposeful destruction of the world economy as they direct all power and riches to themselves.
Quit lying. Quit pretending. Get real.
You see the problem well, honestann. The answer, IMO, is to separate from TPTB and all that they control - to build our own lives and systems separately.
winning!
I'm surprised you don''t see the meat in the stew that is theBamster's 'solution'?
So each job costs $250,000. And the worker gets $50,000 of that. Throw in another 30%, say, $15,000, for incidentals and that leaves......carry the one, deduct the two....and ViolA!
That leaves $185,000 as the remainded. Now where do you think that goes?
I'll tell you. Into the executives and managers who run the companies that will benefit from the contracts. In other words, it's not about creating 2 mm jobs it's about shifting more taxapayers money into the bank accounts of those who don't do shit for a living but bribe politicians to give them money. Lots of money, using the supposedly humane tactic of 'creating jobs' for the desititute.
I think the extra is supposed to go into fixing all that decrepit infrastructure we rely on like bridges and roads, etc. - some of which might actually be worth it (ie railroads) if any of the money actually got there.
Judging from the return on investment we got from Haliburton in Iraq, it's about the same as just giving it to the top 0.01% anyway.
Spamming jackass.
""""After all, there are only two ways to deal with a debt problem:"""""
1) Pay it off
2) Default
It will be paid once they bring out the New USD's @ $100 New to $1 Current.
This "handles" Foreign Debt at 1% (1/00) of current valuation, although it will Officially be USD
This also is the remedy to the mortgage fiasco, and the only way for everyone, icluding all those who ds not in risk of foreclosure. Mortgage Debt will be kept Fixed in Current Numerical Dollars, yet payable with the New USD. And also removes the potential for Legal problems for all the Banks,since they will get to issue a New, Clean Mortgage, all references to the original mortgage, who has the Note, Title, etc., all this will be erased, shredded. Likely Student Loans also will be line-itemed as Fixed to Current, Payable with New. Most everyone will be a "Millioaire", just like in Japan, India, and being a Billionaire will replace the same meaning, here in the US, as what being a Millionaire means today. Need a Bank Holiday, about a week or so, and the turning in of All Current Fiat,
Let me add one more thing, though this is virtually nesr impossible to accomplish, this is the one risk-free investment I know of. Get all the two dollar rolls of Nickels you can get, Cost is two dollars, $2.00 for two dollars worth of nickels. The worst you can do is a Push.
1. Under your scenario, what happens to gold and silver?
2. Why rolls of nickels?
Nickels are already about 20% over par value in terms of content, they won't lose their face value in anything short of teotwawki, and they're a b**ch to steal in quantity (28 pounds per $100 IIRC).
total rubbish
You probably shouldn't throw this article in the garbage, why waste good compost?
"After all, there are only two ways to deal with a debt problem:
1) Pay it off
2) Default"
Corrected:
"After all, there are only three ways to deal with a debt problem:
1) Pay it off
2) Default
3) Inflate away"
3) is only possible if the potential buyers are somehow willing to accept yields lower than inflation + US runs a budget deficit that is smaller than GDP growth.
lol
Sigh......
The US has no chance at all of ever paying off its debts
BULLSHIT
US is one of the most productive countries in the world (compare this to France where people work 32 hours a year, retire at 62 and have 2 months holiday per year), has enormous wealth (its only extremely skewed distributed), the only thing lacking is political will to do something right...
Sooner or later markets will force the treasury yields upwards and then a famous saying "US always does the right thing, after they've tried everything else", will be proven right
but, but, the french don't eat pop corn and sweet toothy googummy that makes the average joe doe fatter than slewie the pirate. I'm quoting him riding into the sunset.
Some work 35 hours, others work more.
And still... they have a better productivity and Europe is the biggest economic zone of the world
Like what ? 1000 trillions of debt, no industry and no gold ?
I hope your comment was ironic.
Its not ironic, US can easily pay off its debt, if they want to... The problem is not in the numbers, the problem is in the mentality. "Obama can not raise taxes, else he will loose the election" ==>> The US people deserve a president who wastes money at the fastest speed ever because they are totally unwilling to accept any setback whatsoever in their (borrowed) high-class life styles.
And about France, the pension funds AND social security funds are completely underfunded. The workforce is lazy, inefficient and bureaucratic. S&P/Moodys/Fitch know this, but have got a EU-gun put to their heads to keep the AAA-rating in place. After Italy, France will be next under attack in the bond market, we'll then see how "great" France is...
France is not under attack...french banks are...but they are now totally american by culture...eating googummy sweet-toothy yucky mushy...I'm digressing, sorry. I'll stick to olive oil and Popeye.
LOL!
They have no intention of ever paying a penny of the debt
Ever!
kind of makes you wonder how the french debt to gdp is lower than americas when they are so bone idle doesn't it?
France people pay more tax (like all EU) and people don't "need" their 3rd SUV or 500k+ 2nd home (on credit)
the only thing lacking is political will to do something right...
Like get out of the @#$%^ way
I'll file this under garbage.
Clicked on this just to see if all or just 99% can't stand this garbage.
This guy needs to be off ZH forever.