That’s correct, the US now has more debt than is legally permitted. We’d crossed the “more debt than is healthy” as well as the “more debt than is sane” levels long ago. However, it wasn’t until the last few weeks that we cleared the legal debt limit.
You’d think that the world’s largest economy (and home of the world’s reserve currency) exceeding its debt limits would be big time news. But we’ve yet to hear a peep about it from the mainstream financial media.
It’s even stranger that we haven’t heard mention of the fact that the US is in fact RAIDING pension funds to continue to fund its debt.
That’s correct, Tim Geithner, who aside from being a tax dodger has managed to make US Treasuries (formerly the ONLY risk-free investment in the world) so unattractive to foreign investors that he is now using money that was promised to retirees to fund his debt orgy.
Let’s think about this for a moment… US Treasuries are so unattractive that investors no longer want to buy them… so we’re using money promised to those who worked… to buy them.
Simply staggering.
hey now...the mighty rome had it's circuses..with bread too! :)) I imagine the people never imagined their once mighty and great empire had turned and now become an illusion..just give-em bread with their circus show. popcorn and chariot..er..nascar races makes a good diversion huh lol
ReplyDeleteForget the mighty Rome. Belarus devalued its currency by about 40 percent overnight and now experiencing hyperinflation and high unemployment. We will see this all over the world since almost all governments are devaluing their currencies to have export advantage. You can read about the article on Zerohedge.com and Maxkeiser.com
ReplyDeleteGrettings neibourhood psychpaths.
ReplyDeleteThe analogy to Rome is fine and good, however when you give credit to any civilizations that have ever existed you totally miss the point.
Nothing awesome ever happened due to true non psycopathness of the masses. Any progress was strictly due to a handful of master/sages penetrating deeper into understanding combined with our Creators hillarious universe construct, making the psychopath mass of humanity (99.9999%+) keep each other mutually at bay via inverse genitals
PS. Rectal residiue.
12:54
ReplyDelete.338 Winchesr Magnum
225 grain spitzer boattail at 2,955m fps
One thousand seven hundred foot pounds of
kinetic energy.
For every action there is an equal and opposite reaction