Tuesday, August 02, 2011
Debt deal set to pass but what were the costs?
The long, tortured debate exposed toxic partisanship and legislative dysfunction in Washington just when judicious efforts at reform were most needed, shaking the faith of international investors and ordinary Americans alike.
In the short-term, the United States' and the dollar's world standing is safe, because no other country is able or willing to take its place. Europe's own deep crisis with indebted nations such as Greece, Ireland and Portugal
Beijing's latest five-year economic plan focuses on building up domestic consumption, and China could even post a current account deficit by 2015, Roach said - meaning it would no longer need to buy as much debt. "They are moving away from the dollar whether we like it or not," he said.
Left unreformed, these three programs - the federal pension system and the programs that support health care for the poor and the elderly - would devour every cent of America's tax revenues by 2047, according to the non-partisan Government Accountability Office.
With more government stimulus "off the table," the slow-growing economy cannot generate enough jobs to pull down the unemployment rate. That in turn means Washington has to spend even more than expected on unemployment benefits, food stamps, Medicaid and other programs. Cuts in those programs would then become even more painful.
the debt-ceiling compromise to do "very little, if at all" to fix America's underlying fiscal crisis.
"It deals with the immediate issue of the debt ceiling but doesn't face up to our long-term deficit problem."
Talk about kicking the can down the road - this is probably the biggest can that's ever been kicked."
there are only so many economies to suck into the usury fraud
and there is no remedy to "the bottom of the barrel"
medicaid costs can be cut in half with one payee system
without touching the benefits
if they can do it in Germany, it "could" be done here too
just as social security could be improved with "voluntary" retirement age at 70
but what it looks more probable are the politicians in the pockets of wall street
more interested in producing higher revenues and usury "interest" for their puppet masters
sucking the blood of the little people till the last drop
anyhow the "reality" is that those are just band aids
after they are done with social security, they will want
the pyramids of gold teeth and shoes, this cast has lost any decency
there is no real fix to a "cast of parasites" in a nation
that receives trillions in rescues
collects trillions in "illegal" currency signorage
and does not pay anything in taxes
there is no real fix to incompetence
the failed "stupid" concept of "suburbia" has generated
"the largest misappropriation of resources in the history of humanity"
with the failed myth of personal commuting 50 or 100 miles away
to forage the oil lobby and their holy racket accomplices
there is no real fix to the monetary signorage skim as well
any "fractional" skim is going to create a ponzi castle of cards
"unless" EROEI is "perpetually" increasing, which does not seem to be the case any longer
"unless" the cost of energy is zero in the first place
"and" the curve of cost of obtaining and distributing energy trends to "zero"
at some point the overhaul of the US financial system will be inevitable
and the option will be nationalize banks or default
"you can't squeeze blood out of stones"
and if the interests of the "nazi bankers" are "not negotiable"
start selling dollars now
because the skim will have to stop somewhere
and the end-time looks everyday more closer
to the reasons that caused the "first" american civil war
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