America Goes Full Imbecile

Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum,

Credit has a wicked way...

...of magnifying a person’s defects.  Even the most cautious man, with unlimited credit, can make mistakes that in retrospect seem absurd.  But an average man, with unlimited credit, is preeminently disposed to going full imbecile.

Let us not forget about this important skill…  [PT]

Several weeks ago we came across a woeful tale of Mike Meru.  Somehow, this special fellow, while of apparent sound mine and worthy intent, racked up over $1 million dollars in student loan debt – all to become an orthodontist.

Surely, with several good text books, and a disciplined self-study program, Meru could have learned everything there was to possibly know about adjusting malpositioned teeth for roughly $200 bucks.  Instead, with the full backing of Uncle Sam’s loan program, he went full imbecile.

Yet Meru isn’t alone.  According to the Department of Education, there are 101 people in the U.S. who are a million dollars or more in federal student loan debt.  What’s more, there are 2.5 million people who owe at least $100,000.  What could they have possibly learned that could be so doggone valuable?

Did they discover how to turn nickels into dimes?  Did they solve the geometry of a four-sided triangle?  Did they learn the secrets of the universe?  Did they get an insider’s peek at something more than what happens under the sun?

Delusions of Grandeur

Only at rare moments are people capable of understanding the full implications of the catastrophes of their making.  These rare moments, often just before dawn, are the precise instants when they gain full clarity to the hopeless fact that they have gone full imbecile.  That every decision they have ever made has led them to this exact place – where they find themselves to be completely and utterly screwed.

Nations, like the people who compose them, have also demonstrated that they are unqualified to responsibly function in a world of unlimited credit. Here in The United States of Debt, federal debt has exceeded $21 trillion, corporate debt has topped $6 trillion [ed note: this is only the amount of non-financial corporate debt issued  in the form of bonds – the actual total is around $20 trillion (PT)], and total household debt has reached a record high of over $13 trillion. In other words, the country, as a whole, has gone full imbecile.

Behold the world’s greatest Ponzi scheme in all its splendor – US federal, corporate and household debt (see also our editor note above regarding the size of outstanding corporate debt). [PT]

These debt figures represent the early lightning of the oncoming storm.  These same debt figures are currently ignored by practically everyone.  The nation’s leaders, in particular, are ignoring them. After an 80 year run of near uninterrupted prosperity, who wants to think the unthinkable?

People would rather be flattered with delusions of grandeur than have cold buckets of ice watery truth dumped on their head.  They want to believe that they are exceptional and that everyone – especially them – can live at the expense of their neighbors. They want to believe they can get more out of their retirement than they put in.

People hold onto the myth that America is a free market economy.  Yet, somehow, they miss the contradiction inherent in the mammoth bureaucracy that has been erected to oversee it.  Free trade is fine in theory, they rationalize.  But, in practice, protectionist measures are required to make trade fair.  And on and on the delusions go…

America Goes Full Imbecile

At the same time, large segments of the American populace – many involuntarily – have been reduced to abject debt servitude.  On the flip-side, the entire structure of Social Security and Medicare entitlement programs is on the brink of collapse.  These signature social achievements of FDR and LBJ, and the tens of millions of dependents that have put their faith and trust in them, stand to be wiped out faster than you can say lickety-split.

This week the Social Security and Medicare Boards of Trustees released their 2018 Annual Report.  Inside they revealed that the Medicare trust fund will be depleted in 2026 and the Social Security trust funds – both for old-age benefits and disability insurance – are likely to be depleted in 2034.

So what happens when these milestones are reached?  Will entitlement dependents find themselves up the creek without a paddle? Not exactly. Most likely, the Treasury, in concert with the Federal Reserve, will indeed go full imbecile. They will create money from nothing to make good on their obligations. But in the process, they will end up destroying the currency.

Massive amounts of debt, made possible through a debt based fake money system, have brought today’s many unique possibilities for destruction into existence much sooner than would have been possible otherwise.  What’s more, the government’s solution, which requires destroying the dollar, is as sensible as cutting off one’s head to cure a headache.

You could have taken an aspirin… or you could have chosen the more permanent solution – adios migraine, forever! [PT]

Of course, faith in the government’s ability to cure all of society’s ailments is what got us into this mess in the first place. The many unfortunate souls set to experience the insidious injustice of having their life savings vaporized through state sponsored currency debasement, will come to deeply regret this misplaced faith in government. It will never return.

For the sake of completeness we would like to point out to readers that cutting off heads is also subject to as of yet unresolved gender equality problems. The head-chopping glass ceiling has yet to be shattered, so to speak. [PT]

Comments

ravolla Sat, 06/09/2018 - 13:01 Permalink

HEY Spam-Lovers!  It's time for the Biblicism Thread-Jack!!!  SINCE I AM FIRST THIS IS MY THREAD!!!  

Let's see, where do I start?  Oh yea, now I remember!!!

It's the Jooz!  The Jooz and IsraHELL made us do it!  It's the JOOOZ!!!!

Now, ALL of you need to click on the "hidden link" just below.  It will take you to my Trojan- and Virus-laden WHACK JOB of a website where you can INFECT YOUR DEVIL COMPUTER with a Decent White Christian VIRUS and several Decent White Crusader Trojans!!!

Here's my "super hidden / top-secret" LINK ::

Warning:  GRAPHIC STUPIDITY

!

ravolla gmrpeabody Sat, 06/09/2018 - 13:10 Permalink

You know SPAMMERS never die on ZH -- here's just a sampling of the banned log-on's ("The Fallen Spammers") ---

 beepbop, pier, lloll, loebster, ergatz, armada, Mtnrunnr, Anonymous, luky luke, Cjgipper, winged, moimeme, macki mack, tchubby, sincerely_yours, HillaryOdor, winged, lexxus, kavlar, lhomme, letsit, tazs, techies-r-us, stizazz, lock-stock, beauticelli, Mano-A-Mano, mofio, santafe, Aristotle of Greece, Gargoyle, bleu, oops, lance-a-lot, Loftie, toro, Yippee Kiyay, lonnng, Nekoti, SumTing Wong, King Tut, Adullam, evoila, rp2016, alt right dude, altright-girl, alt-right girl, Blufin, Schlomo Scheklestein, BraveForce

In reply to by gmrpeabody

I Am Jack's Ma… ravolla Sat, 06/09/2018 - 13:15 Permalink

I guess they bothered you because they posted stuff about Israel that wasn't fawning devotion.  And you are now spamming about spam accounts

Does that mean people should post stuff about Israel that isn't fawning devotion when you spam?

Israel deploys three proven tactics to blunt U.S. backlash over spying
Money, rushed state visits and accusations of anti-Semitism may not be enough to save proposed visa waivers

In reply to by ravolla

beemasters 847328_3527 Sat, 06/09/2018 - 13:24 Permalink

"They will create money from nothing to make good on their obligations. But in the process, they will end up destroying the currency."

The US$ is akin to a well-oiled spinning wheel. It will take a very long time to slow down or stop. It could also be considered a successful brand of currency. ZH has been predicting the destruction for almost a decade now and while there are signs of its future collapse, we're still nowhere near; many (ignorant) nations and their people still consider the Dollar as king. [False] faith is keeping it alive. It's just a matter of how long that faith can be kept alive.

In reply to by 847328_3527

bonin006 directaction Sat, 06/09/2018 - 16:02 Permalink

They changed the tests from looking at things that probably have some relevance to real world problems, to a bunch of fucked up geometric puzzles, the answer to many being pulled out of the ass of the person than made up the test.

I (at 61 years old) just did the 13 x 17 (=221) in my head, but I suppose my positronic brain gives me an advantage in that area over you biological entities.

 

“Anyone who cannot cope with mathematics is not fully human. At best, he is a tolerable subhuman who has learned to wear his shoes, bathe, and not make messes in the house.”  

 - Robert A. Heinlein

In reply to by directaction

el buitre house biscuit Sat, 06/09/2018 - 19:29 Permalink

Surely, with several good text books, and a disciplined self-study program, Meru could have learned everything there was to possibly know about adjusting malpositioned teeth for roughly $200 bucks. 

$200 for the knowledge to adjust malpositioned teeth.  $999,600 payoff to the goobermint and affiliated mob members to be given permission to adjust malpositioned teeth without getting buttfucked in the slammer.  $200 to buy lots of white smocks to give brain dead clients the illusion that you know what you are doing.

In reply to by house biscuit

NidStyles CarthaginemDel… Sat, 06/09/2018 - 18:28 Permalink

Incorrect, feel free to prove me wrong. Do so with math, so I can slap you around some.

 

Leverage is created when others commit crimes against you. Power comes from leverage and power is all that matters these days.

 

A woman that demands a man’s head removed is not necessarily a bitch. If she is abusing here position out of spite, then yes she is. If she is doing so out of wrongful acts, then no. If she is doing so because she got involved with something she shouldn’t have gotten involved in, then yes she’s a bitch. She can sue me. Good luck cupcake. You got involved with something larger than you and your influence. 

In reply to by CarthaginemDel…

ElTerco directaction Sat, 06/09/2018 - 16:52 Permalink

"A smart kid in one of my advanced science classes could not calculate in her head how far a car will travel in one hour at 60 mph."

If you can't calculate it in your head, you can't calculate it at all, because the answer is embedded in the question. If your student was as smart as you say, then she was on serious drugs at the time.

In reply to by directaction

any_mouse directaction Sat, 06/09/2018 - 20:43 Permalink

Probably did not know what "mph" meant. And probably has a driver's license.

That's one of your brightest students?

I find that rating and the IQ # hard to believe, unless the average has become way stupider than 50-60 years ago.

Was she born in a metric nation?

It was your exceptional American privilege that held her back. The terms kph, mps, etc. are the only terms allowed.

In reply to by directaction

newworldorder beemasters Sat, 06/09/2018 - 16:37 Permalink

You are correct. The new formula is not even a formula. 1. Spending through unlimited credit and 2. Spending through population growth.

GDP is created by those that consume by spending as much as possible, may work but have the ability to borrow based on 'fake' borrowing limits.

The more consumers the better, - hence the rush to bring into the US/EU as many illegals as possible and give them a minimum income. This also applies to the importation of Islamic peoples into Europe. A mouth to feed is a GDP enhancer. Digital credit (money,) hastens its adoption.

This also ensures the continued election of Politicians who will perpetuate both illegal migration and consumer spending.

The governing elite all seem anxious to get the show on the road. Nationalism in some countries, US exceptionalism and Islam all stand in their way.

 

In reply to by beemasters

any_mouse newworldorder Sat, 06/09/2018 - 20:56 Permalink

They no longer need producers, they just need consumers.

Why else would EU allow non-producers to enter their nations and consume services? And the leaders claim that they are doing it for the future of the EU.

Somebody is making private real wealth from the debt. That someone determines who is allowed to run against whom.

End the FED. An executive order referencing the relevant sections of The Constitution could do it. SCOTUS could do it, but someone would have to get all the way through the system to the Supremes, first. Alive and not in an institution.

That would require honest people, uncorrupted by the system, to make their way into those branches of the very same system.

In reply to by newworldorder