Saturday, November 20, 2010

In The Year 2010: Unsustainable National Debt Skyrockets

Starting this year, the national debt, fueled by entitlements such as Medicare, Medicaid, Social Security and the like, has started its inexorable climb to unsustainable levels.

Like a credit card debt that grows out of sight, leaving the obligated consumer in the dust, unable to pay even the minimum payments, this conundrum is here - now - in your face.

There is no bankruptcy court, no discharge of unsecured debt available, and certainly no protection from creditors through the intervention of a bankruptcy trustee. This is hardball, major league jazz, the kind that leads to war, famine and aggression.

Your nation owes its economic soul to some people who live in very rough neighborhoods and they are not noted for their enlightened attitudes or kind and gentle ways when it comes to profligate American big spenders.

Economists predict that by the year 2030, the debt will be a little more than 180% of the Gross Domestic Product and fully unsustainable, meaning the economy will not be able to outpace even the debt service, or interest carry, on what the Treasury owes its creditors.

This is no joke; the time is now; either U.S. Citizens revolt against the bondage of unsustainable debt, or they will succumb to the certain slavery that is bound to follow.

Who benefits?

The bond departments of certain huge Wall Street law firms, international bankers and bond traders in markets throughout the world's financial capitals where anyone has the cash to buy into the pot and take their chances.

We are definitely expecting rain; we just don't know who's going to get wet - at least not yet.

This was the year of decision, a knife fight between alley cats and you know who won.

Dig the blood-stained sidewalks, the stink coming out of the alleys.

Next stop, the full-dress bayonet charge that will surely follow in 2012.

No comments:

Post a Comment