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"If Something Rattles This Ponzi Scheme, Life In America Will Change Overnight"
Submitted by Michael Snyder of The Economic Collapse blog,
I know that headline sounds completely outrageous. But it is actually true. The U.S. government is borrowing about 8 trillion dollars a year, and you are about to see the hard numbers that prove this. When discussing the national debt, most people tend to only focus on the amount that it increases each 12 months. And as I wrote about recently, the U.S. national debt has increased by more than a trillion dollars in fiscal year 2014. But that does not count the huge amounts of U.S. Treasury securities that the federal government must redeem each year. When these debt instruments hit their maturity date, the U.S. government must pay them off. This is done by borrowing more money to pay off the previous debts. In fiscal year 2013, redemptions of U.S. Treasury securities totaled $7,546,726,000,000 and new debt totaling $8,323,949,000,000 was issued. The final numbers for fiscal year 2014 are likely to be significantly higher than that.
So why does so much government debt come due each year?
Well, in recent years government officials figured out that they could save a lot of money on interest payments by borrowing over shorter time frames. For example, it costs the government far more to borrow money for 10 years than it does for 1 year. So a strategy was hatched to borrow money for very short periods of time and to keep "rolling it over" again and again and again.
This strategy has indeed saved the federal government hundreds of billions of dollars in interest payments, but it has also created a situation where the federal government must borrow about 8 trillion dollars a year just to keep up with the game.
So what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?
Well, the game will be over and we will be in a massive amount of trouble.
I am about to share with you some numbers that were originally reported by CNS News. As you can see, far more debt is being redeemed and issued today than back during the middle part of the last decade...
2013
Redeemed: $7,546,726,000,000
Issued: $8,323,949,000,000
Increase: $777,223,000,000
2012
Redeemed: $6,804,956,000,000
Issued: $7,924,651,000,000
Increase: $1,119,695,000,000
2011
Redeemed: $7,026,617,000,000
Issued: $8,078,266,000,000
Increase: $1,051,649,000,000
2010
Redeemed: $7,206,965,000,000
Issued: $8,649,171,000,000
Increase: $1,442,206,000,000
2009
Redeemed: $7,306,512,000,000
Issued: $9,027,399,000,000
Increase: $1,720,887,000,000
2008
Redeemed: $4,898,607,000,000
Issued: $5,580,644,000,000
Increase: $682,037,000,000
2007
Redeemed: $4,402,395,000,000
Issued: $4,532,698,000,000
Increase: $130,303,000,000
2006
Redeemed: $4,297,869,000,000
Issued: $4,459,341,000,000
Increase: $161,472,000,000
The only way that this game can continue is if the U.S. government can continue to borrow gigantic piles of money at ridiculously low interest rates.
And our current standard of living greatly depends on the continuation of this game.
If something comes along and rattles this Ponzi scheme, life in America could change radically almost overnight.
In the United States today, we have a heavily socialized system that hands out checks to nearly half the population. In fact, 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government each month according to the U.S. Census Bureau. And it is hard to believe, but Americans received more than 2 trillion dollars in benefits from the federal government last year alone. At this point, the primary function of the federal government is taking money from some people and giving it to others. In fact, more than 70 percent of all federal spending goes to "dependence-creating programs", and the government runs approximately 80 different "means-tested welfare programs" right now. But the big problem is that the government is giving out far more money than it is taking in, so it has to borrow the difference. As long as we can continue to borrow at super low interest rates, the status quo can continue.
But a Ponzi scheme like this can only last for so long.
It has been said that when the checks stop coming in, chaos will begin in the streets of America.
The looting that took place when a technical glitch caused the EBT system to go down for a short time in some areas last year and the rioting in the streets of Ferguson, Missouri this year were both small previews of what we will see in the future.
And there is no way that we will be able to "grow" our way out of this problem.
As the Baby Boomers continue to retire, the amount of money that the federal government is handing out each year is projected to absolutely skyrocket. Just consider the following numbers...
-Back in 1965, only one out of every 50 Americans was on Medicaid. Today, more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
-When Medicare was first established, we were told that it would cost about $12 billion a year by the time 1990 rolled around. Instead, the federal government ended up spending $110 billion on the program in 1990, and the federal government spent approximately $600 billion on the program in 2013.
-It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.
-At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for every single household in the United States.
-In 1945, there were 42 workers for every retiree receiving Social Security benefits. Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.
-Right now, there are approximately 63 million Americans collecting Social Security benefits. By 2035, that number is projected to soar to an astounding 91 million.
-Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
-The U.S. government is facing a total of 222 trillion dollars in unfunded liabilities during the years ahead. Social Security and Medicare make up the bulk of that.
Yes, things seem somewhat stable for the moment in America today.
But the same thing could have been said about 2007. The stock market was soaring, the economy seemed like it was rolling right along and people were generally optimistic about the future.
Then the financial crisis of 2008 erupted and it seemed like the world was going to end.
Well, the truth is that another great crisis is rapidly approaching, and we are in far worse shape financially than we were back in 2008.
Don't get blindsided by what is ahead. Evidence of the coming catastrophe is all around you.
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I don't know why everyone has to keep talking about 2008.
Without EBT, and a plethora of other thieving handouts, on the street conditions would be worse than the Great Depression.
And, what we are facing when the music stops, is exponentially worse.
No need, Ebola will do.
Again, this site is so bugging that it is not enjoyable anymore
First I stoped using on my pc, then stopped on my phone, now it's my iPad...
Somebody needs to fix this....
Note from Zhers: we're ready and waiting.
In Soviet Union is old joke-Five words which could cause the collapse of Russia: "They've run out of vodka."
In Soviet America is old joke-Five words which could cause the collapse of Ponzi: "They've run out of INK."
Listen Ob1knob.
It's simple. America is a fucking illusion. The prosperity is indeed part of that but the Americans are so stupid that they believe it's all legitimate.
They'll need more than vodka to help them.
Well, in recent years government officials figured out that they could save a lot of money on interest payments by borrowing over shorter time frames.
They could save even more money by ending the Fed and the TBTF banks that own it and print their own currency electronically or otherwise at zero cost and get us off this debt-based rent seeking Ponzi madness... but that would probably be cheating or inflationary or anti-semitic or something...
Or worse..."inconsistent."
You know how the Government folks love their projections. Right up their with Wall Street and "New Normal."
"You see...first you have to ask ' what is normal?' And then...
Look up "greenbacker" to see why this idea isn't any better.
You forgot raycisst.
The Tylers have left the building. The robots are in charge now.
National security asset these days
Where's Marla? Been years!
After the dns hijack episode ... never heard from again.
She left when Tyler sold out. It's been all downhill since then.
Any system which is built upon interest being attached to your medium of exchange has a limited shelf, normally 60-80 years or a generation. The writer of the article confused, the world is in trouble, not just the U.S. The system will expand until max. potential then collapse, then liquidation of the walking unfunded liabilities.
"So what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?"
More like, what happens to the rest of the world when the U.S. credit/debt system can't expand at the rate needed to sustain itself? Liquidation of the global walking unfunded liabilities... my bet is on Asia to be liquidated the most... a good portion of those 4 billion are going to have to go.
"Well, the truth is that another great crisis is rapidly approaching, and we are in far worse shape financially than we were back in 2008."
Actually, the amount of power to stay the collapse increases exponentially, which is why attaching interest to your medium of exchange has as limited life span. Crying about that isn't going to help, sorry.
You guys are making it sound way more complicated than it really is. Every empire in history has demanded tribute from vassal states and weaker nations. This is the American version. Every empire crumbles, because (and again, don't overthink it) there are 2 limits on what you can take. 1 - what can be taken without force. (You reached that limit a while back.) and 2. What can be taken with force. When you reach that limit, it's over. Romans. Huns. Ottoman. Alexander. Britain. On and on. Tributes are demanded. Then enforced. Then unenforceable = death of empire.
So instead of creating vassals over here we should be creating vassals over there.
Got it!
Yup, Laws of Nature and Human Nature at work.
You see the same principles in even simple(er) life forms. E.g., when yeast or bacteria in a Petrie dish run out of nutrients, it's game over.
Indeed...
"Nutrients" beings Wages.......
America's imperialism had its Rev.1.0 in the 1800s, when it known as Manifest Destiny.
Thanks to Globalist Banksters and the GRC status of its fiat currency, it has become Manifest Destiny 2.0 (aka NWO), because... their covetousness and the currency's DNA demand it.
I agreed with your simple summary, CapnJackDaniel, EXCEPT there was never anything in previous human history to compare to globalized electronic frauds, backed up by the threat of weapons of mass destruction.
The "death of empire" in which the lies are electronic, and the violence to back those up is atomic powered, has nothing to be compared to in previous human history! While I think that you correctly summarized the basic mechanisms of enforced frauds, which have inherent limits to being able to do that, however, after those enforced frauds become atomic bombs backing up electronic "money" made out of nothing as debts, WE ARE TALKING ABOUT ACTUALLY POSSIBLE EVENTS WHICH CAN BE AMPLIFIED TO SUCH ASTRONOMICAL SIZES AS TO BEYOND HUMAN COMPREHENSION!
"..The World is in trouble, not just the U.S......
"More like, what happens to the rest of the world when the U.S. credit/debt system can't expand at the rate needed to sustain itself? Liquidation of the global walking unfunded liabilities"........
".....my bet is on Asia to be liquidated the most...
Exactly.....
Excellent Post...
The author is a pretty smart guy, but to ask the ridiculous question of who will lend us money at these low rates ?
No one has to lend us shit, we have the criminals at the Federal Reserve in the waiting to print up as much green toilet paper as Uncle Sam needs.
As usual... "debt" is the key word. Were it not for our debt-based money system, none of this would be happening (nor possible). Just remember THAT when the same cretans start proposing a "new" system.
Revolution... revolution.
-1 for calling Michael Snyder smart.
+1 for saying what I was thinking.
Exactly.
The game will be over only when the masses realize how many green toilet paper IOUs the Federal Reserve has put into circulation, i.e. when the currency's purchasing power collapses.
Bypassing the UsD in global trade is the precursor. It's happening now all over the world. Politicians and CBs all over the world know the US is a failed state on life support. The current strength in the USD is a red herring. Buy all the damn gold you can before you can't. That day is coming.
The masses will never have such a realization only confusion and hunger pains. I am afraid we will see most folks appearing bewildered and angry but not understanding why.
Amen.
People here seem to think there will be an awakening. .or revolution when this thing crashes.
Im pretty sure this thing crashing will only bring MORE control to the hands of government. People will need food. People are (relatively) dumb. People WANT to be controlled.
Watch and see.
vmromk No one has to lend us shit, we have the criminals at the Federal Reserve in the waiting to print up as much green toilet paper as Uncle Sam needs.
----
It becomes about trade, a currency war that is going on now. It doesn't matter who owns the debt. It matters what currency trade and debts are settled in. That is why we see these bold moves by Russia and China.
The day the music dies is not going to be a day I am looking forward to...
Shoot, I am. You have any idea how many phone calls I am making, rubbing it in for people in their own stupidity -- after I warned them and they chose not to listen? lol please.
I am hedging myself appropriately, I have a ton of student loan debt which will get forgiven in the next bust, and am really excited about super-inflated AG and AU prices with depressed real estate prices.
Telling a realtor you will pay in gold in the middle of a liquidity bind is awesome. Telling a bank that owns post-repoed property this is even better.
Sure when the music stops We will have to rethink priorities. The logical response will be to nationalize medicine, eliminate medical insurance and reduce military spending by 50%. Lower taxes by 25% and nationalize public school educationand eliminate the teachers union and pension liabilities.
If it doesn't make someone with access to power richer it simply won't happen.
The system is both corrupt and stupid. Unfortunately you can't fix either problem...
Very funny but not likely
Welfare is also known as riot insurance.
The US is now paying just about half of its people to make sure they don't.
fTTc,
if welfare is riot insurance, underwriting banks is deemed what?? simply asking?
+42 for "Welfare is now Riot Insurance".
These illegal immigrants sure will be given quite a surprise in a few years when this shit all starts to boil. They thought all would be well in AmErIcA... well, think again Pancho... better no forget your Spanish... you're gonna hate this place.
Lots of legal immigrants and H1Bs may change their mind.
Agreed! Additionally, I'm sure many will now feel the sting in California as they start water restrictions which will leave them no green lawns to mow. : (
I know, we are spared the visual. This whole mess is being covered up so thoroughly that when the shit hits the fan many people will die of shock.
EBT and other "thieving handouts" amount to nothing compared to the what was stolen by banks with government complicity. Pacifying the populace made the banks' theft easier and if the banks had been denied their coup in the first place, there would not have been such a need for financial support to people.
A return to sanity is not the end of the World.
It's the end of SOME peoples' worlds.
Happy, happy birthday baby.
It would be the end of the insane world we've made.
Oh, for a moment there I was worried.
Offically rattled..
EBOLA, BITCHEZ!
let me be the first to blame the joos
And?
Whoa. You're the one who started the whole hate jooos thingy?
That makes you a very old guy. Like 30 centuries or more.
Ahhhh... Dear Leader Obama's dream society. Everyone but the political class are dependant on the political class. Vote "correctly" and you'll get your "free" stuff...
It's not the Jews, it's the Zionists:
https://www.youtube.com/watch?v=KXB0KyiPntc
Maybe it's the chick in the ZH Ad with the big titties.
Adblock plus is depriving me of some of the pleasures of the flesh, eh?
Oh well, I'm a better man for it...
DaddyO
The problem in that most jews support the Zionists because they benefit from Zionist Rule -now there are many prominent Jews who I deeply respect -they say things that goyim cannot get away eith -brave courageeous men like Norman Finkelstein.
That SavyD sums up the situation pretty well.
Will the inevitable Zino-down-voters explain their objections beyond the obvious self-interest??
You got me, cause only a Jew wouldn't throw a Jew down the well. Fckyou low caste, no class offspring of a diseased sow. :)
You smell like death flacidflight.
isn't living a lie painful - really? let the ponzi scheme end. let the chips...
most take the blue pill....
It truly is painful, look at how low we've fallen. We live in a make-believe World of false paradigms created by the globalists. This applies to the entire Western culture and anyone under it's influence.
Harbanger ... you mean this is not real?
Hooray for Hollywood
Fascist central planning will take care of everything: you'll be told when and where to work and for how much . And your boss will get rich.
Not to worry.
A PONZI SCHEME THIS ENOROMUNGUS IS NOT EASILY RATTLED
“ ... what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?”
“ ...taking money from some people and giving it to others.”
“ ... And there is no way that we will be able to "grow" our way out of this problem.”
I say bullshit. You have not identified the real problems.
The money is coming from the printing press and will continue to come from the printing press.
The average guy in the street couldn't care less about this Keynesian Rothschild alchemy that has enslaved him. He just wants it to all continue. HOWEVER the guy who has trillions or 'millennial wealth' in natural resources to sell like China and Russia now THEY have a big F'ing problem with worthless slave paper currency units printed ad infinitum. It will be these folks who stop this ponzi not the 300 million US slave morons
+1 F0ster
That figure of $8T is more the sum of all incomes in the US. Why don't they just apportion that money to the wage earners and we can all quit working?
Not another gloom and doom article. How many ways can you tell us how fucked we are? On this site alone I must have read a 1000 or so already. I know it and am crying uncle as loudly as I can.
Don't a click on a Snyder post then ;)
just want to make sure you don't regress to sniveling
They're not "borrowing" anything, the co-conspirators are just printing/counterfeiting under the color & rubric of law and normalcy. The Fed doesn't have eight trillion to lend in unencumbered assets. Unencumbered assets is my definition of excess liquidity to lend.
Faith & credit are to assets as hope & change are to prosperity.
Emotion driven bullshit grounded in dependency.
Japan has shown us that .gov can keep this up much longer than people can imagine. We have the Japanese carry trade which creates demand for U.S debt and now the dollar is strengthening and the German ten year is yielding sub 1% creating conditions for a Euro/USD carry trade. Unless some major event disrupts the "markets" this can and will go on for a long time.
Don't leave out TPTB psychopaths will happily crash the Yen or Euro, to save the US Dollar one last time with a run into treasuries.
They're inflating their money which means your "substitution effect" is out of debt and into dollars.
That's a lot of debt about to be redeemed folks.
Dollar has been collapsing since 1913. It will implode as soon as we run out of zeros.
2 Solutions:
Single payer health care
Guaranteed annual income
2 simple programs that eliminate a ton of waste (no more Medicaid/Medicare, no more welfare, no more food stamps) and save a fortune quite quickly
lets replace one bad idea with two, derp.
Government to guarantee both or all?
What could possibly go wrong...lol.
In about half an hour I'm going out with a lady friend I met a few days ago. Can I get one of 'em guarantees?
guarantee? No, just print.
There's a ditch with your name on it.
His whole economic collapse hypothesis fails if old people simply keep working instead of retiring, and the stats show this is exactly what's happening.
Uh what - because then they don't draw SS payments??
Unretiring Wallmart greeters will save the US of A ponzi.
No one is asking where the money they lend America is made.
Its key to why they give it to us.
You will never understand anything without knowing this.
MS,
To awaken people to reality, get these charts in their faces, ONGOINGLY, I say!
http://patrick.net/forum/?p=1223928
Cable TV is a human right. Comcast / TWC merger is good for competition. The people need to hear a single voice.
TWC=the water company? u must be from detroit
yes. The voice of Big Brother...competition is newspeak for "WE DONT WANT ANY!"
" what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?”
The Federal Reserve will just back-door buy the debt from an overseas account.
The fed is the emergency buyer with unlimited printed dollars.
The problem comes when nobody wants to take your US dollar anymore. What happens when you need to do a foreign currency transaction and you need to convert the US dollar to some other denomination because they don't accept dollars anymore?
Printing is not the problem, the problem is when everyone figures out that all you are doing is printing.
The rollover of the debt plus any additional interest could go on to eternity
"As long as you think the painting on the wall is 'art', it will be 'art'"
We still get over 17% of our high grade crude oil from the Middle East. It is actually used in processing heavier grade crude. Another OIL EMBARGO and this whole crap pile will simply dissolve virtually overnight once Saudi Arabia and cohorts have used the US military to do their dirty work. They will be as sick of our printing as any entity.
By Golly, I never thought of that before.
It might soon become apparent the economic efficiency of credit is beginning to collapse and the additional money poured into the system coupled with lower rates can no longer drive the economy forward. When this happens we are at the end game.
At some point the return on loaning money is simply not worth the risk! Why do you want to loan money if most likely you will never be repaid or repaid with something that is totally worthless? When this happens the only safe place to store wealth will be in "tangible assets" and the only lenders will be those who print the money that nobody wants.
The collapse of credit can pose major problems such as what we saw when many sellers were forced to demand payment up front before shipping goods in 2008. More on this subject below.
http://brucewilds.blogspot.com/2014/06/the-economic-efficiency-of-credit...
If I deposit one trillion in cash in your bank...I am the bank now.
Body Disposal Technician.
The new job for the dark, declining future of the Once Great America, as the FSA riots and runs rampant and 2 billion HP ammo is used.
USA! USA! USA
BDT? Like Mr. Wolf?
Sort of, but with less glamor and smaller pay.
Me: Uhh sir I'd like to take out a loan.
Banker: ok. How much do you need and what would the loan be used for?
Me: Well I need 8 trillion USD and I want to use it to pay my friends and buy some weapons and such. Ya know I just need it.
Banker: Do you have any collateral?
Me: Well you will have to take my word for it. You know. Full faith and credit. I'm good for it. Trust me.
Banker: Sorry sir I need more than your' word.
Me: Look man, just hit a few more buttons on that money printing computer over there and loan me the cash, you dig. Otherwise, I'll send the delta boys to pay you a visit, or maybe ill mint a few trillion dollar coins or something.
Banker: No worries bro. Here's a check. Just keep those interest checks coming and we are all good.
"The taxpayer is the collateral."
Banker: "are you sure ten trillion is sufficient?"
Okay, so today I'm doomed, or should I wait for Friday to worry?
By Fryday you'll be dying from Ebola that you caught from a terrorist hiding out in your bathroom waiting for the right time to jump out and git you. Be afraid,..... Very afraid.
I was wondering what that smell was. Lol, Ebola stories have switched from panic calmly to freak out now. It's almost funny in a Jason Vorhees sort of way.
-Back in 1965, only one out of every 50 Americans was on Medicaid. Today, more than 70 million Americans are on Medicaid
Bizare statement - why not quote the total number in 1965. So in 1965 it was 2% - but how many million.
Or today it is 70 million - but what percentage?
70 MILLION / 321 MILLION = 21.8% OR ROUGHLY 1 IN 5.
You can't do simple math?
very telling how this "article" NEVER mentions the trillions of dollars USA has spent already on the fake "wars on terror". USA has already spent 1 billion on strikes against ISiS.
These days, $1 Billion is just a ponzi rounding error.
How many schools would that rounding error pay for?
Zero. You cant use an elementary school to blow up another elementary school, in an oil rich nation.
It doesnt matter if the students don't learn anything but political correctness when they are there.
MS is very careful about who he critices. Check it out. He even scratches his head as to why Detroit, Camden and all the other 'vibrant' cities are crcling the drain.
As a nation-state that no longer follows Constitutional law we are not obligated to the banksters for anything. Let the FEDs problems be theirs and let those problems go with them when they are exiled.
There are assets that can be sold...sorry to say.
Interstate highway, national parks, subways, hospitals, the entire state of West Virginia.
The banker "my bid is one dollar."
Government: "sold! For an extra troll of twenty dollars!"
But by 2040 most of the obnoxious Boomers will be thankfully int he dust bin of existence and no longer drawing SS.
Nobody will be drawing Social Security by that time. It's nearly insolvent now.
And BTW, have you had some bad boomer blind dates or something? I mean WTF? I paddle board in the bay with some older cats that are really cool. Maybe I just repel the obnoxious ones...?
Mostly good article except for:
" the game will be over and we will be in a massive amount of trouble."
and
"our current standard of living greatly depends on the continuation of this game."
also, referring to FedGov as "we". I am not a part of this monster, and I hope Mr. Snyder is not either.
When the game is over, and I agree it will be over sooner rather than later, the productive class will be much better off. There may be some temporary disruptions of everyday life, but thinking people should be prepared for such events by now, and the implosion of the Fed's ponzi scheme will expose the criminality of the system to anyone with even the smallest intellect who is not ideologically attached to the current regime. The only individuals whose standard of living will decline overall are the parasites in government. Even the "poor" who are receiving welfare will be better off after a few months once they realize that they will have to work in order to eat and that they are now free to work without the intrusions of the current system. Once the bureaucrats are no longer getting paid to interfere with business, and the Feds are no longer funding local goon squads to drive up costs in both the white and black markets, people will be able to create value for themselves or at the very least find a job that pays a wage equal to their productivity and that allows them to learn the job skills they need to move up.
This is mostly a good response except you make the assumption that our current political class and central bankers are just going to slide to the side and admit that they blew the greatest system of governance in the history of mankind? No chance. They will create false flags, paint anybody opposing bigger government as the enemy and deflect all blame. You forgot to mention the bloody conflicts to come and the impending civil war as the fight for the CONSTITUTION goes to the mat.
I like your plan better though.
Absolutlely true. No WAY that those in power simply roll over. Everyone who even breathes of revolution will disappear in the middle of the night.
Depends on how bad things get. Remember the mantra worse is better. And this need only last for a year or two.
There may be some temporary disruptions of everyday life, but thinking people should be prepared for such events by now, and the implosion of the Fed's ponzi scheme will expose the criminality of the system to anyone with even the smallest intellect who is not ideologically attached to the current regime.
This is the nub of the issue. There will indeed be a period of disruption where everyone suffers but this will be followed by a clean-out and punishment of the guilty ones.
I expect that everything will be Ok according to Darwin's law.
Beautiful and slim American girls will be able to marry rich foreigners. The ugly and obese will die.
Hard-working men will work for soup and bread. The lazy will die.
Grandparents who have cherished kids and grandkids will be cared of. The sick will die.
Beautiful in its raw stark bottom line. Reversion to the historical norm.
You are describing Feudalism 2.0
The reversion to the historical norm.
Print moar and buy it back. Then we'll only owe it to ourselves
s/
yes, too much welfare handed out, corporate and otherwise.
When all else fails, they'll pay half of the poor people to kill the other half.
What happens when we're unable to pay off our debts?
The bankers will send us off to war to get ground up into dust. That's what always happens.
We're Americans! Thats the way we roll...
As a rule of thumb people will believe anything provided they are comfortable. Freedom is instinctively traded for comfort but the comfort must be real. Change that dynamic and watch out.
Common Sense Economics
http://quillian.net/blog/
Have no fear...the IMF is waiting in the wings with the next phase of the global ponzi scheme.
SDR! Bitchez.
The stall is the best thing that could happen.
No wonder the CBs and the FED have huge swap agreements and credit facilities at basically ZIR for the TBTFs. But all that can't save the global economy from it's death throes. As the real economy collpses, so does the debt ponzi in it's current form, and a new monetary system will be needed. Rough sea straight ahead. I'm towed with yellow and shiney anchors to wether the coming storm.
Tel Aviv finished you off, dear WASPS.
"Paper money eventually returns to its intrinsic value - zero" (Voltaire)
The average lifespan of a fiat currency is around 27 years - the Dollar is long overdue. Fun times ahead.
1.6 workers per social security recipient looks proper for the pittance that SS pays out. Do the math. Then stop the harangue.
"So what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?"
Wait a minute... Who are those that are flush with cash [money, money, money!] and willingly buy pieces of paper paying minimal interest that PROMISES repayment [not money, not money, not money!]?
Why are they NOT buying gold or silver?
Why are they NOT investing that money in ways to improve the quality of life for the citizens of their country? Decent healthcare, improved infrastructure, affordable education, job creation, etc....
What am I NOT understanding about this? Something stinks about all this...
Welcome to the land of the confused. The only explanation I can come up with it is that the Fed and that mysterious buyer in "Brussels" are buying all the Notes. In other words pure printing. Whatever the explanation this is going to end badly.
Far as I can see they are buying gold, silver, farm land, mines, oil, gas, etc.
why cant we just opt out of Medicare and SS going forward? Pay me the PV of m contributions and ill invest it. I will not be able to rely on these payments going forward. This is is pure capitalism. Let me go....GIVE ME MY FREEDOM.!!!
The whole house of cards would collapse if workers stop paying into the government ponzi schemes.
The PV of your contributions is -384,000. Pay up.