"Getting To The Bottom Of It All"

Tyler Durden's picture

From Bill Buckler, author of The Privateer

"Getting To The Bottom Of It All"

To put the magnitude of the current global fiscal and financial profligacy in perspective, The Privateer has in the past made use of a simple illustration. As the “fiscal cliff” looms and as the Treasury’s debt “subject to limit” grows to about $US 60 Billion below that “limit”, we make the point again.

How is it possible for a nation of almost 100 million people to survive - and indeed prosper exceedingly - when the government of that nation has a TOTAL debt of about $US 2 Billion? That question is asked in the context of today. Today, that same nation has a population of a bit more than 300 million people and is “run” by a government whose funded debts approach $US 16,400 Billion and whose TOTAL debts (funded and unfunded) are in excess of $US 200,000 Billion? That is the record of the US over the past century. Its population has tripled. Its government debt has grown by a factor of 100,000.

Which - IN REALITY - is the prosperous nation? Is it the US of 1912 or the US of 2012? Which - IN REALITY - is the nation whose citizens can look confidently towards a future in which their progeny will enjoy the fruits of their parents’ labour WITHOUT being indentured to their parents’ profligacy? Which is the nation that has not yet embarked on currency debasement and which is the nation that is nearing the inevitable end of that same road? Everybody knows the answers to these questions too.

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CPL's picture

I'm ready.

 

I've stockpiled friends, family and materials to get me by.  You jackasses included, couldn't imagine sinking on a ship with a better bunch of goons.

Mentaliusanything's picture

I'm confused ???? Billion or Trillion??? bloody decimal points and the inability to grasp the size of the amount is fucking with my mind.

Pool Shark's picture

The author fails to mention that the USA of 1912 became a world power WITHOUT any form of income tax. How was that possible?

 I guess our politicians are slow learners; it took them from 1787 to 1912 to finally figure out that they could vote themselves money...

indygo55's picture

They aren't slow learners. They are in on it.

 "The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

earleflorida's picture

Bon`appetit... fodder

"In the early years of the 19th century, the organized capital markets in the U.S. was largely confined to govt. bonds (then called "stocks") along with canal co.'s and banks themselves. Whatever investment banking existed was concentrated on govt. debt. From the Civil War until the 1890's,  there were virtually no manufacturing corporations;  manufacturing and other business were partnerships and had not reached the size where they needed to adopt the corporate form. The only exceptions was railroads, the biggest industry in the U.S.. The first investment banks, were concentrated in railroads securities and government bonds. The first major investment-banking house in the United States was a creature of govt. privilege.  Jay Cooke!"

Ps. Corporate lawyers as Lincoln was himself, were the progenitors of modern-day lobbyist!

Quote: rothbard 1984 

LawsofPhysics's picture

Hhmmm.  Endless prosperity and infinite growth in a finite planet?  Moreover, a planet that has been taken over by corporate fascists and has not experienced real consequences  for bad behavior at any level of society (fascists get bailouts and peasant get bread and circuses).  Good luck with that.

Spastica Rex's picture

Panem et circenses is soon to be just circenses - the Twinkies people went bankrupt.

otto skorzeny's picture

more good news for the peasants-Feinstein just announced on Meet The MSM that she is going to introduce another assault gun weapons ban on the floor when Congress resumes

suteibu's picture

Ah, yes...America, once the land of the free and the home of the brave.  A whole bunch of well-armed sheep are about to be sheared.

otto skorzeny's picture

the Zionist NWO UN group(Rahm,Bloomberg,Hillary,Feinstein et al) is about to unleash a shitstorm. everything is dovetailing nicely for the takeover.

earleflorida's picture

Hillary's fundraiser and confidant is no other than 'lady lynn forester de`rothschild'... wifey of l.m. rothschild's, evelyn! 

Ps. spent one of their honeymoon nights in the 'wh' lincoln bedroom as guest, while dining with slick willi and lard-ass rodman,... de`hillary

knotjammin2's picture

Only those that roll over.

Oldwood's picture

I'm shocked!

The beauty of investing in lead and brass as at least they can be used in their own defense. I don't want to be cought throwing gold coins at those coming to take them away from me.

otto skorzeny's picture

in a SHTF situation i have always questioned the value of PMs- maybe after the fact-then I would see their value. would a gold coin buy you a loaf of bread, or a chicken?

suteibu's picture

Well, if they take away your guns, you can just steal the chicken and keep your gold.  Just make sure you steal it from a law-abiding citizen.

Towhog's picture

Towed a fatal crash Friday caused by a DUI. Two dead. Will call for ban on automobiles owned by sober drivers.

Pool Shark's picture

 

 

Recently, I heard that on any given Saturday night, after midnight, nearly 1/3 of all fatal collisions are caused by drunk drivers. That means 2/3 of the fatal collisions are being caused by sober drivers.

GET THE SOBER DRIVERS OFF THE ROAD!!!

[won't somebody think of the children...]

Towhog's picture

When did we all forget that we want a country that has unlimited opportunity to leave a country to our children that has even more opportunity for them to realize their dreams?

Spastica Rex's picture

If the hypothetical country has "unlimited opportunity," how could it ever be left in a state of "even more opportunity?"

LawsofPhysics's picture

Yes, many suffer from this cognative dissonance.  We all know the sandbox has real limits.  What I think he meant to say was "unlimited opportunity for me and my children".  Yours are fucked.

Towhog's picture

As an English major you obviously missed the point. But i get your point and it is well taken.

earleflorida's picture

british english or americanized english?

Oldwood's picture

You mean its not all about ME? When birth rates go negative, ME is all that counts. PROGRESS!

Pool Shark's picture

"When did we all forget that we want a country that has unlimited opportunity to leave a country to our children that has even more opportunity for them to realize their dreams?"

As soon as we realized we could vote for politicians who would promise us "something for nothing."

 

Segestan's picture

But now we have peace on earth, war has been abolished poverty ended, justice everywhere for everyone.Oh, and we already know who Jesus really is.... the Bernanke, he saved the world. Thanks Liberals.

Racer's picture

And in real terms how much has inflation accounted for?

After all, that is their goal and that is what they continue to strive for...

so in another 100 years a billion pound note is what you will use to buy one onion

booboo's picture

"The mania for giving the Government power to meddle with the private affairs of cities or citizens is likely to cause endless trouble, through the rivaly of schools and creeds that are anxious to obtain official recognition, and there is great danger that our people will lose our independence of thought and action which is the cause of much of our greatness, and sink into the helplessness of the Frenchman or German who expects his government to feed him when hungry, clothe him when naked, to prescribe when his child may be born and when he may die, and, in fine, to regulate every act of humanity from the cradle to the tomb, including the manner in which he may seek future admission to paradise."

Mark Twain

otto skorzeny's picture

I always thought Twain would have made a great Founding Father- what would guys like him and HL Mencken think of the group running the world today?

zerozulu's picture

That's nice. If a country can run with a population of 100mil and a debt of US$2 billion for 100years, Certainly that country can run another 100 years with a population of a billion people and with a debt of 160 trillions.

Oldwood's picture

The problem with numbers is that they can burst the bubble of delusion. We should have laws that protect delusion and make the careless use of facts and numbers as unacceptable as citizens owning weapons that could be used in acts of violence.

SKY85hawk's picture

You identified the the real problem! 

A few more details, just to push people to ask thier REPRESENTATIVES WTF?

The corporation, UNITED STATES OF AMERICA, has exempted itself from all GAAP rules of fiscal management.  Proper accruals and timely reporting of the true condition of our country's finances would have woken people up many years ago.

America's politicians are just like Europe's

"We all know what to do, we just don't know how to get re-elected after we have done it."
                   -Jean-Claude Junker

 Finally, I wish to remind all readers that Obama signed the 2011 Budget Deal that is the cause of the Financial Cliff.. 

If Barry was true to his campaign promises, he would have vetoed the expiration of Bush tax cuts for the NON-wealthy then!


 

I am Jobe's picture

Folks with kids are royally fucked and families are fucked as well. Enjoy the fucking sheeples. Party has ended

otto skorzeny's picture

T Jefferson and his wife kept having children the whole time that he was Public Enemy No 1 on King George's shit list so is there ever really a "good" time to have children? Or should i just stop having kids because of a fear of the future or use the old "the world is too f'ed up to have kids" excuse?

TPTB_r_TBTF's picture

I would wait til after Friday (21.12.12) at the earliest...

A Lunatic's picture

Nut up, bitchez..............

Monedas's picture

The socialists cashed out our economic miracle faster than we could make it .... bad mouthing Capitalism all the way to the bank !

stant's picture

goodbye america you had a good run there for awhile. now your in debt. soon to be hungry in the dark and defenceless

Monedas's picture

Our national "pay day loan" account is way over due .... and we've just been laid off !

BurningFuld's picture

This is excellent news as Gold is now worth $25 x 100,000.  Sweet!

toady's picture

Deficits don't matter

Monedas's picture

Monedas Doctrine .... Separation of School and State .... if Disneyland had 20 dead kids and 6 dead parents .... they'd be bankrupted .... why do tender death trap socialist schools no gun safe zones get a pass ?  We got it right on Church and State then we turn around and give the monsters our kids ?  State schools .... an important area where we copied the communist ??????? What ever happened to The American Way ???????????? How about small, private schools with armed Minute Men Sentrys at the doors and gates ?  Public schools are big bird shooting galleries .... where is OSHA ???

Pool Shark's picture

 

 

Where are all the "pro-choice" liberals on the subject of education?

I'm pro-choice... on education: give me a voucher...

 

oddjob's picture

The sense of entitlement of government workers is ridiculous. The sponge in my kitchen sink is far more useful and productive.