The fact is, the monetary madness in the Eccles Building [Federal Reserve] is destroying free market capitalism by systematically and massively falsifying the prices of financial assets, and fueling a relentless, debilitating accumulation of debt throughout the warp and woof of the American economy and the rest of the world; and it’s simultaneously extinguishing political democracy by deeply subsidizing our crushing $19 trillion national debt.The ballooning balance sheet of the Federal Reserve and the inexorable rise in the amount of public debt in America are indicators that the political "management" of the economy is solidly in fantasy territory.The GOP politicians appropriately sputtered last night about the bipartisan beltway scam rammed through the House yesterday by Johnny Lawnchair, but they were given no opportunity by their clueless moderators to explore exactly why this kind of taxpayer betrayal happens over and over.[1]
You may like aircraft carriers, war on Syria, EBT cards for parasites, a war on coal, sex change operations for federal prisoners, abortion counseling for pre-teens, relocating our Muslim enemies to Vail, Martian colonization, and combat gear for the Environmental Protection Agency, but one way or another our debt structure becomes more dangerous. As an out-of-control, idiot, universal-franchise democracy, it's a given that the peculiar and self-interested wishes of various constituencies will trump any considerations of morality (no subsidies for the child bearing of whores) or sensible fiscal policy (live within our means). Those constituencies can "win" year after year but eventually no one wins.
CNBC, with some kind of putative finger on the pulse of the American economy supposedly, did not want the effects of Federal Reserve policy discussed in last night's "debate" and its agents were properly called on the carpet by Cruz and Christie for focusing on trivial matters.
The lies of the lunatics running Western countries are bad enough but the omissions of these treasonous fools are just as treacherous. Merkel can say Germany (and Europe) can "manage" but does anyone think to ask why Germany has to manage in the first place?
And why does the national debt curve keep soaring into the clouds with NO effort to bend it back down in the direction of solid ground? A great question but don't expect it to be part of the political discourse.
Notes
[1] "The Debate: GOP Candidates Elevated, CNBC Eviscerated." By David Stockman, Contra Corner, 10/29/15. Mr. Stockman's article is worth your time.
I think the pols know our days are numbered and try to keep the shitshow going with more and more debt. Why not make it $30 trillion? They're holding this thing together with scotch tape. There's no talk about debt reduction anymore. If you come out against more profligate spending you get "what are an extremist or something?". I'm not sure what will get do us off first war, immigration invasion, or debt collapse. Pick your poison I guess because none of it is good. Things are accelerating. TPTB are waiting for all the pieces to come together on a global scale, then the hammer will fall.
ReplyDeleteI have often thought that some of the more gullible freshmen Congressmen have been taken aside and convinced (with smoke and mirrors, of course) that they must support the continuing increase of an already unsupportable debt because to refuse to do so will mean the immediate collapse of our economy, with massive rioting by inner city welfare drones, blacks in general, and everyone else with their hand in the till. That all of us old folks on Social Security (an oxymoron if I ever saw one) will starve to death, many will die from the loss of Medicare (probably true), that the whole house of cards will come tumbling down.
ReplyDeleteSo men of reasonably good will and intentions (if meager acumen) are misled and seduced into becoming part of the whole socialist parade.
Anonymous, I like to focus on what ISN'T happening and what isn't happening is what you point out. No attempt at limiting spending or even bothering to justify war in Syria. The missing resort to Congress for a declaration of war. Talk of border control? Missing. Talk of "comprehensive immigration reform" or "our broken immigration system"? All day, every day. In Europe it's the same. The only talk is talk about how to "handle" the influx of invaders. You simply will NOT hear European leaders talk about STOPPING the flow. On a good day, if you're really lucky, they MIGHT talk about sending people ineligible for asylum back but it's never a 48-hour process. Ditto "reducing" the flow of immigration to "reasonable" numbers.
ReplyDeleteIt is to barf.
The massive flow of the invaders has called Merkel's hand and the bursting of the debt bubbles will call the hand of the globalists. This time there isn't the slack in the system there was in 2008. As Jim Quinn has observed, "Our leaders have done the exact opposite of what needed to be done after 2008. Everything they have implemented has failed. The average American is worse off than they were in 2009 at the depths of the recession." The recovery and the unemployment stats are woven out of thin air. I think the globalists and the bankers have no more tricks. Try though they might,. reality is going to come camp on their doorsteps. In a gated community, of course.
Mr. T, you highlight the essential problem -- the impossibility of taking hard decisions in a democratic republic with a universal franchise.
ReplyDeleteBrutal force to put down rioting, stern demands that welfare parasites work, removal of voting rights for people on welfare or non-state income tax payers, saying no to special interest groups, limiting media concentration, removing illegal immigrants, and repatriating all Muslims, for example, are, literally, an impossibility in this country. New politicians will get that talk you describe, but that failure to grasp the nettle is what underlies that talk and every other government action you can think of. Trump, West, and Arpaio, and Tancredo stand out for their willingness to resist the current even a bit.
Change will be jammed down our throats; it will never be chosen by the Treason Class. Too bad "change" will be what "change" decides. More than likely, we're not going to like change much, but then who likes the present that necessarily involves the destruction of the founding, white European people who built this country.