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Presenting America's New Debt Ceiling: $19,600,000,000,000
Even as the bond market has been rather concerned about another possible debt ceiling showdown as we showed before, and which earlier today prompted the Treasury to announce the purposefully dramatic step of postponing the auction of 2 Year Notes next week, the reality is that one way or another, with an equity-driven wake up call for the GOP or without, the debt ceiling will be raised.
The only question is how much.
As a reminder, the reason why the total US debt held by the public hasn't budged from $18.1 trillion since March 16, 2015 is because that is when the last debt ceiling limit was hit. In the seven month since, the US Treasury has been cruising along on emergency cash measures, even as the total debt - if only for reporting purposes - has not budged (in reality it has grown by about half a trillion).
It will budge very soon, because no matter what the outcome of the upcoming week of debt ceiling negotiations, one thing is certain: the US has to be able to borrow more in order to survive.
And as The Hill reported, when one gets beyond the traditional posturing, the outcome will be the following:
The House is expected as early as Friday to vote on a conservative debt-limit proposal even though chances are slim that the plan can pass the Senate.
Speaker John Boehner (R-Ohio) told the GOP conference on Wednesday that he is expecting a vote on the Republican Study Committee (RSC) plan that would raise the debt limit to $19.6 trillion from $18.1 trillion and would run through March 2017.
Who will be the Republican to submit the unpopular measure? Most likely the outgoing speaker John Boehner, who will seal his tenure with this final act: "With only two weeks to go, the pressure is on the House to pass a measure that raises the nation’s $18 trillion debt ceiling amid a search for the next Speaker."
Yes, the republicans will pretend to demand concessions, such as a balanced budet and other "sound money" conditions...
The proposal would require a House vote on a balanced-budget amendment by Dec. 31, would implement a short-term freeze on federal regulations through July 1, 2017, and would compel the House to remain in session without a break if spending bills aren't done by Sept. 1.
... but they won't get them because the corporations pulling the strings of every D.C. politicians are the biggest beneficiaries from US debt-funded largesse, especially if one throws in the occasional contained or not so contained war.
This means another victory for the Demorats who have required a "clean" debt raise. This is precisely what they will get, and why it will have to take place under John Boehner as Paul Ryan would surely tarnish his reputation with the Freedom Caucus if his first act is one seen as submission to the left.
Which means that the only certain outcome from the melodramatic debt ceiling fight over the next several days, is the following: the US is about to have a brand spanking new debt ceiling, one that should last it until March of 2017: $19,600,000,000,000.
If the chart below looks increasingly exponential, that is not a coincidence.
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Just get rid of the debt ceiling farce and let the market decide. I can dream can't I ?
It no longer matters what the score is but how much time is left on the clock.
They'll just try to print clocks then.
Thank god. I was getting worried for a minute. Glad to hear everything is fixed. Now we can get on with the recovery...
Just get rid of the fucking debt ceiling already FFS. It's all a sham anyway and I grow tired of the Kabuki theater.
It was a close race and personally I was torn on how to vote on this.
RIPS
Please, what is problem!? Just is make $20T. What is $400B between friend!?
US Population 318 million
Debt 19 trillion
Debt per person 60K
Taxes collected each year per person 9K
We've spent the next 6.6 years of taxes.
Only congress could build a ceiling that looks like that.
That looks like a hockey stick i only like hockey sticks when Mario Lemieux Ryan Getzlaf or Eric Lindros is holding one...........
Well, at least it’s not over $20 Trillion..
That would be scary.
The only advice I ever got from my father was, If you owe someone $1000 you have a problem. If you owe someone 20 Trillion dollars they have a problem.
That's totally worthless. Not everybody pays taxes. $19trillion isn't the total .gov debt. Obamacare is going to blow the reported $19T out of the water. Just wait until "FREE" college gets added to the bill.
If you ever want to calculate accurately the true inflation rate well here you have it as a catch all.
8.287%
That looks like 'Liftoff' to me!
Exponential function, bitchez!
Here's a fun game for you to play:
Calculate:
How much of the 19.6 trillion have you received vs. how much of it is YOUR personal liability?
Enjoy!
[remember debt slave, NO division by Zero!]
Heck, you can't even count government employees (largest employer) in this equation either. Sure, they pay taxes (some of them at least), but every single penny they earn is from tax money.
I always have said, it doesn't count. Just giving back some of the vig.
And then, the Gold Plated Pensions are icing on the cake.
If the "FREE" college is as *AFFORDABLE* as Obamacare, the debt load incurred from attending college is going to be parabolic from what it is now.
That's why millions of illegals, aliens and refugees want to come here ... it's all FREE!
Or they could just raise taxes to $60K per year and put us all in debtors prison work camps when we can't pay. We could make iphones to sell to the Chinese.
Put it on my tab.
@GernB: "Debt per person 60K"
"per person". That's a good one. As if every 'person' will actually participate in servicing this odious Debt (which the masses have not approved actively, but do approve of with their apathy).
Recognize that about half the population will not participate:
- Those who can't (too poor, too old, out of workforce, on Gov payroll)
- Those who won't (individual and organized criminals, and many corporations)
That leaves the other half: the working stiffs, and small and mid-size entrepreneurs, who will cling on to the American Dream, until they can't. It's human nature.
But, don't worry, Muppet-in-Chief Barry will pivot and help offload this Debt problem to all those schmucks, who will sign the TPP and TPIP agreements. It is not the CNY but the USD that will be used for these for trade under these Agreements. Petro-Dollar --> DOD-dollar.
You may now return to the more dramatic events/sideshows in the ME, to distract you from the real action: preserving the USD hegemony, even if it means letting the Russian take out your stinking, toxic Trash for you.
Uhura! Wan't some popcorn?
We may be forced to sign TPP but some people are already working on how it can be nixed afterwards.
Where have I heard that strategy before?
(Audience quiet!)
Thank you, I was waiting for figures.
I'd like to make your day: 318 million inhabitants, 45 million bottom layer on food stamps = 273 million. Deduct children who do not pay tax (10 %?) = 245 million to carry that debt torch. My calculator doesn't do trillions, so you work it out yourselves.
What distraction can we construct now, Russia, Iraq, Syria, China, Brazil, Japan - more ideas?
Looking at the info on US demographics its 19.8% of the population who are aged 14 and under, with another 7.1% between 15 and 19.
So assuming food stamps means > age 14, that leaves 219 million, so a tad worse, 13.1% are also over the age of 65 but some of them will be enjoying food stamps, so the figures are worse, I'd guess at under 200 million eligible under perfect conditions to repay that debt.
But I have to just echo what a commenter said above, thank goodness it wasn't 20 trillion, that would have been scary :D
Boris. Where have you are beink ?
Natasha and Squirrel have missed your Krap.
My heart is warm like currency bonfire for seeing you.
Boris back from Ukraine peace mission
if they make the ceiling infinite, then they probably can't 'sell' 't-bills'. if they keep saying, 'we're serious this time', apparently it soothes the 'markets' so they can keep 'selling' 't-bills'. ymmv.
All about maintaining confidence.
Perpetual war, perpetual waste, perpetual multi-billionaires, perpetual debt.
What a fucking joke a national budget is. What a fucking joke.
America: here's one for you
https://www.youtube.com/watch?v=svVaEWQaoSo
Cardboard box economy gone utterly, utterly insane
A zero here and a zero there to the left of the decimal and pretty soon y'all gotchur ass some real fuckin' money, boys!
Let's all hear it for Paul Ryan, your next Speaker of the House, who has voted for every last single Big Fuckin' Democratic Program Under the Sun.
He is Nancy Pelosi and Barack Obama's favorite!
The GOP has sold out America right down the pike with the DNC.
(And if y'all think it don't make a difference, then you should be happy with the last 6 1/2 years. Or maybe 12, or maybe 24, or maybe ....)
On January 20, 2009, the day Mr. Obama took office, the debt stood at $10.626 trillion.
"We cornholed some folks".
Go ask most citizens and they will tell you Obama has reduced the deficit. You just cant fix stupid
Nope. You can't.
"All we have left is Ponzi & PsyOp."
-Miggy
HAwk, you're absolutely right and after all hasn't the glorious NYT reported the deficit is down to like 400 B a year? And the debt keeps climbing by a trillion a year
after they rais it, watch the national debt shoot up higher in the next few days by hundreds of billions
So we know the debt in 2009, we know the debt in 2017, and we know it matches an exponential function and has done so ever since the sudden change the graph shows in 1974, a strange coincidence, I think not.
Knowing that it doubled in 8 years I still have trouble getting my head around the idea that it will double again in 8 more years, even though it has roughly done that for the past 40 years, it really is sobering.
Obama, and Bush before him, and Clinton before him... are all figureheads. If you think Obama is the root of the problem, you don't understand the problem. Figure out who really runs the Federal Reserve and you'll get someplace.
"A zero here and a zero there to the left of the decimal and pretty soon y'all gotchur ass some real fuckin' money, boys!"
Thank god we have a zero for president. Imagine what the debt would be if we have a Hitler, demanding "Nein! Nein! Nein!"*
* Reference to the movie Downfall http://www.imdb.com/title/tt0363163/
Instead of sending fictious armies to defend germany, the US sends out ficticious currency to prop up the economy.
heard a fighter was it a raptor
They should float the debt ceiling so it is always a long way up from the sheeple.
That way, no one panics until it all comes crashing down to the refrain of that good old standby song we all know and love - " Who knew ? "
Who cares ?
Don't unfuned liabilities take it up to $100T or was that $ 200 T ?
Aren't all the depositors/taxpayers on the hook for derivatives losses ?
Its all fake 'debt' made up outta thin air, anyway.
A Big Fat Scam -- that people think is real.
Definitely negative for gold and silver - bullish for the dollar and stocks
Actually I think it's bullish for both at this point. We're in the Twilight Zone man...
Looks like Al gores hockey stick.
"keep your stick on the Ice" --Former Fed reserve member"
This country borrows $1 million per minute. It's fucking over
when I wonder will we just go to the soul standard, currency backed by souls.
I think we are very close.
Ive been buying souls of CL, Im making a new market for the basis of the new global currency.
get in on the ground floor.
Party on!
Made good with Your Maker.
https://www.youtube.com/watch?v=BD2kWCfTcaU
Any problem can be solved with freshly printed money
Sell The Rally....
"What difference does it make at this point"
Kankles
Shouldn't there be another zero added to the number to account for all the un-funded liabilities? Not an accountant, but don't corporations have to do that, or face criminal charges? What's good for the goose....
yes, but even without the unfundeds, this figure is well north of $20T
remember, its been unreported/frozen at $18T for about 18 months now, so just kicking of the series again they must have already spent the entirety under this new ceiling
So if a baby is born in the US this week, he/she already owes $60,000 because his/her parents allowed the government to borrow in the name of the baby and blow the funds on war. Way to fucking go people.
Why would Trudeau and Canada be worried about US Babies?
Sorry I don't understand the question. It has nothing to do with my comment so I'm not sure what you're asking.
You are Canadian.
It is only a ceiling in the broadest sense of the word.
Ten years from now, when we are quabbling over raising it to $50 trillion, they will still call it a ceiling.
My question is, if this indeed is a ceiling, how fucking big is the house?
pods
I always like the analogy of picturing your house full of sewage. It is slowly but steadily filling up with sewage, and the sewage is approaching the top floor, which is the only place you can stand without being in sewage. What's the smart play, keep raising the floor over and over again until you can't anymore, or stop the sewage from filling up your house?
invest in scuba gear.
"Hell is where everyone is standing up to their bottom lip in a lake of liquid shit and the devil comes by water skiing"
If broken windows are good, floor raising has to be incredible.
Ceiling is whatever it takes to win WW3. This entire shitshow parade is meaningless and every insider knows it. The whole point is the maneuvering and strategic planning surrounding the last final confrontation. We abandoned the gold standard to outspend and bankrupt the Soviets, we knew that ultimately a conflict was inevitable and to win we needed the best technology, weaponry, and propaganda available. We used the middle east as a means to secure resources and keep our troops combat ready. As the fiat game is almost finished, it means the time is here. The show is about to begin.
Victor will decide how the next several centuries play out...
"...we knew that ultimately a conflict was inevitable and to win we needed the best technology, weaponry, and propaganda available. We used the middle east as a means to secure resources and keep our troops combat ready."
And then Russia launched 26 cruise missiles that America had no idea they had, with capabilities that render all of Americas "technology" worthless, simultaneously destroying Americas meticulously crafted propaganda narative, and America promptly ran away and is now throwing tantrums like a little child.
It doubles, on average, every 8 years and will continue to do so until people lose faith in the USD.
So that's like what yesterday then?
This shitstorms over, I give it a week or two max since netenyahu, saud, turky and now the 6 people in qatar are on the run and loosing ground fast.
You'll know it when it happens.
It depends upon your location.
If you are at Ground Zero...
Using Rule 72 that gives you about 8% inflation from 2009 to current. Maths is a bitch that must be obeyed
It can only go up. Any trying to get it under control, or not letting it rip, will result in complete collapse. No ifs, ands or buts about it. It will go until it doesn't anymore. Just rest assured all same clowns will be in charge the entire way up it's all about them.
Which means that the concept of a debt ceiling is nothing more than a show. Congress critters get to argue and "make a stand" on the debt issue when MOAR debt is intrinsic given our monetary system. You hear that congress? Quit trying to distract us with this shit.
exponential bitchez!
Yeah,
And the last raise was supposed to last until March 2016...and didn't make it to within a year of that date.
How do you think QE works?
Seriously?
To print money they must raise the debt limit.
Period.
Failure to borrow and print more will result in the default of US debt, and the evoporation of the currency it backs.
Period.
How much the government wants to spend has nothing to do with anything. And each round of monetization they run requires steep increases in the amount.
So, a $19.6 Trillion debt limit is going to be hit (in reality) within days of being authorized, because the 'emergency measures' don't fix anything, but are just gimmicks that have to be undone before they fall apart... So, the $19.6 Trillion will be hit as soon as they undo the 'emergency measures'....and then Lew will be back to 'emergency measures' until the next 'debt limit debate'. If they set it at $21 Trillion that *MIGHT* make it to 2017...maybe.
Honestly, the debt limit is the stupidest political point in the world...because they already authorised it when they authorised the Fed. The only thing left to do is decide who gets the cash.
gc
not exactly...the Fed can buy assets (always 'troubled' assets) and inject good cash into the system without the government. The problem is that the government can't spend that money untill they steal (tax) it. In this case the government needs the money for operating expenses so having the Fed buy MBS won't work. Most QE was either the Fed buying MBS or buying Treasuries. The former provides liquidity to the markets, the later allows the government to borrow and ignore voters, allies and any other peons who don't access to free money....
They also authorized the debt when they approved the budget and the deficits within it. The whole debt ceiling "debate" is simply a charade. It allows the Republicans to prance around talking about how fiscally prudent they are (before voting another trillion or so for war). And it allows the Democrats to prance around talking about how mean and cruel the Republicans are for wanting to put Granny out on the street (before telling their cronies at SSA that there's really no inflation, so there should be no increase in Social Security payments, thereby requiring Granny to downgrade from Iams to Alpo dog food).
Neither party is fiscally prudent in the least. Neither party gives a rat's ass about the constituents that elected them. And neither party is going to change one fucking bit.
Only 1.5 trillion more? For a year and a half?
Where's the rest of it coming from?
uh, Mary pull out our 401k information will you?
bunch of drama queens
Sky would be a better term than ceiling...
The central planning conceit is based upon bankster illusions. The cartel can manipulate markets day-to-day but over the long term markets are going to go wherever they're going to go, with or without the central banks. Gold bugs screamed at the banks for rigging the gold market, slamming it every time it moved up over $300, etc. Yet, today, gold is trading at $1160. Similarly, stocks, bonds and currencies have been rigged right along, yet all have also crashed on multiple occasions and they will do so again in the fullness of time. Take it to the bank...
Reject their frame. Call it the debt super-deep-bore-hole.
"They delved too greedily and too deep..." Gandalf
Laffs on us !.... it's been a debt ' false ceiling ' since 1941 ..... raised 80 times !
Those were just inflation adjustments.
Chinese and Russians are not buying, who will?
QE.. QE..QE! Or Dollar Freeze as bomd buying will cause USD shortage.
"Chinese and Russians are not buying, who will?"
DA Federal Reserve!
Who do you think has been buying the treasuries China has been dumping?
Of course through their member banks.
It will get there very quickly!
No worry it will never be paid.
Its going to self-destruct before the need to pay ever happens.
The circle jerk is approaching the proverbial climax.
Exponential Growth is a bitch.
http://cdn.sett.com/images/user/20130409/exponential97047cd8950dfea9d75f...
When you hit "singularity" bad things happen, talking weimar republic or ZIM Dollars.
She sure takes her time to get going, but boy once she takes off it's one hell of ride. Until it's over.
Moooon Riverrrrrrrr. You using the whole fist Doc?
If they want to make a SERIOUS point about the Debt situation, Congress should announce that they will be valuing Treasury Gold, currently marked at $42/oz, at a market rate.
That will kick the bankers in the ass for what they've done with the US debt.
And they will set a timetable for it to be returned to Treasury custody from the Fed...CALL IN THE LEASES!!!!
That will kick the bankers in the ass.
It will also save the Reserve currency for a short while, because the Dollar would go from <1% backed to single-digit percentage backed in a very short period. That will buy time for leases to expire, or bankers to be cruscified.
The banksters make congress wealthy, so no ass kicking is going to happen that way. You'd get further hanging the bankers from their ankles and telling the kids "Pinata time!"
Sure,
But someone has to point out what they SHOULD be doing.
Its fun and all to declare that the Titanic is taking on water, and that the 1st Class passengers are such assholes to be getting in the lifeboats while they tell us everything is rosy.
But it does nothing to prevent us from going into the cold, cold water.
Treasury Gold is the only set of lifeboats.
Congress can diddle themselves all they like.
Someone needs to be planning how to make room for as many as possible on those lifeboats.
The whole thing is a complete farce and makes me want to do the rainbow yawn . . . .
They should have made it $38 trillion. Print-a-thon baby!
A Keynesian orgy!
Screw it, let's just call it an even $1 quadrillion.
The purchasing power between 20 Trillion and 50 Trillion will only diverge maybe 3% when its all said and done.
Which means when you hit 20 Trillion, the next year you will probably need to hit 24 Trillion and the year after that you will need 28
Eventually you will need 100 Trillion Dollars borrowed in a year to sustain the debt payments.... bread will cost 1000's of dollars.
We are like a few years away from the death point where everything goes to shit.
Zimbabwe baby!!!!
You Federal Reserve PhD morons are able to understand the mathematics?
Eventually the sheeple will figure it out!.
what comes after trillion?
Scientific notation.
Should have come by now !!!
War
Quadrillion.
But I think we should all study what comes after quadrillion because we might just see it before long at this rate:
https://en.wikipedia.org/wiki/Names_of_large_numbers
so then this means new emergency measures go into effect in summer 2016, correct?
This is going to be a ball buster for Hillary's Treasury Secretary, but then again, "what difference does it make"?
Has that saying been trademarked?
Calm down you Nazi sickos. President Obama has got this under control and Hillary is going to be the next president so there's no need to get crazy and go shoot up a school with your sickening assault weapons that Hillary is going to confiscate when she becomes president.
Thanks for shutting us down.
Lol the master craftsmanship is too brilliant.
Republican Slogan: The other fiscally irrresponsible party.
That will not be enough to make it to 2017.
I know the plan is to get past the election and after that the Cackling Cunt can seriously get to spending.
The Obozo hasn't fucked things up enough...Yet!
Why have a ceiling at all if its always going to be raised? The world seems content in continually buying the toilet paper coming from the Fed no matter how reckless the spending by .gov
Seriously.
Don't dick with the Debt Limit which is a necessity of the debt-based currency regime the Congress signed up to in 1913.
Set the stage to fix it.
FIRST, set a timeline for return of the Treasury Gold over a long enough timeline that leases can expire. Do it quietly.
SECOND, Let the valuation of the Booked Treasury Gold float.
At today's price that would kick the value of Gold from $11 Billion to $301 Billion in an instant. That would make the dollar gold-backed at something like a 1% ratio.
And of course, the gold price would actually skyrocket, raising the ratio.
And that would make the Dollar appear (appear because we don't know if the gold is there) much more backed.
If the Gold doesn't appear on schedule, or the Federal Reserve Banks bankrupt before delivering it, seize their assets worldwide, and convict their US officers of Treason...and bring back public execution for this very special occasion.
Then you can transistion the Gold from backing the FRN to the Treasury Note... and set the stage for devaluation and retirement of the FRN through devaluation of the debts backing it.
But you MUST START by AT LEAST NOMINALLY returning the gold to the Treasury. What good is it doing the Fed or FRN? It is less than 1% of the FRN's backing!!!!!!! Why shouldn't it back a limited-issue treasury note instead?
Gold at $18K/oz could back 40% of the currently booked base currency...meaning you could simply retire the debts.
Look at that Keynesian stairway to heaven! Fireworks on top.
Satan will be there waiting at the top with a deep shaft to hell.
Hooray! Speaker John Boehner came through and saved the nation. Now, his band of Merry Congresspeeps can write more debt in our names.
Up Up and Away - The Fifth Dimension https://www.youtube.com/watch?v=5akEgsZSfhgHomer that pig shit silo is leaking. Its not leaking its overflowing.
Congratulations America!
You just bought yourself a "WWIII"!!!
The USA profited from WWI and WWII by delaying entry, lending and collecting debt and not having the war on their territory (nothing destroyed), then rebuilding and selling products to those decimated.
It won't be the same scenario for WWIII, the USA could find itself on the wrong end of decimation and debt.
War as a solution is a sociopath's reasoning.
Politicians are sociopaths? Well more accurately I think they're actually psychopaths.
https://thinkpatriot.wordpress.com/2015/10/22/pan-galactic-buggery-game/
This outlines the essence of the game, I believe.
Rules and players, NWO as a working kleptocracy. Reading Snowden correctly : How could he have walked away from so much wealth?
https://thinkpatriot.wordpress.com/operation-soft-samson/
Obummer can't make it to an even 20 trillion what a drag. We should just let him do it what is an extra trillion among friends.
Fuck that bullshit. I signed no contract. Ain't my fucking debt. i didn't vote for it.
Ha.
If Treasury Gold isn't backing the FRN, there's no reason for the Fed to have custody of it.
If they want to make a special US Gov coin and declare it to be worth $17 Trillion, then it needs to be about 5 feet tall, and 30 feet in diameter, and made of solid Gold.
That's a $17Trillion coin people can believe in.
And watch!
The price of Gold will rise to match it...and we'll all have a way out of this mess.
$18.1 is not the "debt held by the public". That's $13.152 trillion.
You stay classy, zerohedge.
I suppose that matters when SSTF goes cash flow positive again.
This
Amazon. $144bn in market cap increase in less than 11 months. Worth more than GE.
Wow
How many running quarters of profits are they on now?
a trillion here, a trillion there. pretty soon you're talking about real money.
Oh my god oh my god oh my god oh my god oh my god....so what? Raise it to 50,000,000,000,000! Drinks are on me!
That is exactly the seintiment of allmost all current citizens, as well as all the illegals who keep crossing the border on a weekly basis. Many have come to believe that the laws of economics do not apply to the US and its FED.
On Jan. 20, 2009, the date of Obama's inauguration, the debt held by the public -- as accrued by Obama’s predecessors (ALL PREVIOUS PRESIDENTS COMBINED) -- stood at roughly $6.307 trillion -- So, when it hits the new limit of 19.6 Trillion before he leaves office very likely, he is responsible for TRIPLING our debt !! What a legacy
Got no HOPE---Only got CHANGE
How long before that tripling takes place annually? Monthly?
Depends on the exponent?
To run a balanced budget and pay down the debt is impossible, there's no dialing this back to 0.
Might as well keep printing and borrowing from the fools who will never get repaid in full.
This Ponzi is going to explode sooner or later, but not never.
One morning when people wake up everyone will be impacted..
Nothing in nature can survive going exponential, neither will USA's debt survive. And that is a mathematical certainty.
Yep. And, what's coming down the road, is very, very ugly, and there's no way around it.
I can't understand foreign countrys Who sell any products to the Usa in exchange for Fiat money.
Both sides are all part of the same big game. Its the main mechanism of wealth transfer. Its designed that way.
The “Everyone Gets A Trophy Generation” receives all kinds of undeserved prizes and awards so this will make up for it. Payback is a Bitch kids!!!
Don't worry.
THe TEA PARTY is busy slashing spending, defunding the wars, and tightening the purse strings.
They are totally outflanked by the "establishment" both parties, the "system" and all those that want to control YOU! They know better.
That's only 20 Trillion dollar coins......with change left over. This stuff gets easier and easier each decade.
Odius debt carries no obligation for me to pay.
That includes everything incurred under Obama because he is not a legitamate president. Bush wasn't elected to his first term and the election was rigged for his second term so you add the debt from that 8 years as well. It's almost getting manageable!
And a bad law is not a law at all. OK, let's go hide our gold now...
Most readers of this board know that all this matters. The US Public, regardless of political, racial, ethnic, financial beliefs and attitudes really don't give a damn. Most if not 75+%, have no clue as to what impact this has on their daily lives.
On this basis alone, does what the rest of us think, - really matters?
Yes it does. I think you're 100% right but fortunately because you are aware of this your behaviour will change things. The people don't need to be awake. They're never actually awake. Yet things happen all the time.
It doesn't take as many people as you think to change the world. There isn't a vote. It just... happens. People can delay and disrupt the free market, but you can't beat it in the long run. It will win. This is because it is organic, ingenious and without having being designed.
The freemarket is a fucking trippy cool thing man.
A market can only be free when it's medium of exchange only exists for the duration of that transaction.
It is impossible to have a free market when price is measured with units that are a store of time.