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U.S. Depression in Winter
if history did not repeat itself there would have been no
WWII-rc |
It seems as if it was just the other day Washington was fighting over yet another U.S. Debt ceiling increase. Be advised the next one is coming. At some point in time whether the fed likes it or not, U.S. interest rates will increase. Their is no way to stop it short of hyper-inflation which is currently occurring in Iran and now Argentina. Austerity or massive spending, either/or, as demonstrated in Europe and Argentina, civil rights, individual rights, human rights, RIGHTS period, violations are the result. The U.S. government and others are afraid of the consequences of out of control economies because it always leads to increased crime and, massive political shakeups and puts countries at risk of insurrections. Thus the rush to Pass the National Defense Authorization act, the upcoming Enemy Expatriation act and S.O.P.A.
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If you read our post,
Next on the Poverty train part 2 -moores law, ALL OF IT, then you saw our discussion of exponential occurances/effects/consequences. This is the concept behind the shortened time span between technological advances, nuclear meltdowns and out of control economies. They are inevitabilities. Once certain lines are crossed circumstances and events start to cascade. Either blowing out or blowing in.
When this happens. We say when, we mean as it is happening now. You will see the national debt start to rise not by one trillion but by multiples of trillions within a shorter time span as the last. If you watch the news you know it is happening now. It is simple cause and effect. But here is the kicker, republican or democrat you will not escape the depression or hyper inflation that is going to result.
So now the question becomes, will you rob banks like John Dillenger during the depression? Or will you do like millions of Americans did as a result of a kleptocratic banking/government alliance and stand in soup lines?
As a motorcyclists this writer has found on a number of occasions that things that one thought would never occur to them have a scary way of happening when you least expect it.
We leave you with this from From
Zero Hedge:
Not even an hour after we asked the question, The Hill gives us the answer: "The Obama administration will be asking Congress to raise the debt limit in the coming days, White House press secretary Jay Carney said on Tuesday. "I'm confident it will be executed in a matter of days, not weeks," he told reporters. The notification by the administration — which had been scheduled for last month — was delayed because Congress has been holding only pro forma sessions. The White House will be asking Congress to raise the U.S. borrowing limit by $1.2 trillion. The move would mark the third and final increase from the debt-ceiling deal reached last year by Congress." Of course, the optics of yet another debt-ceiling increase, even a preapproved one, are simply horrible during campaign season. But such is life. Here is the kicker though: the US has preapproval for $1.2 trillion in debt issuance, as per the August 2011 agreement. So far so good. The problem is that since then the US has issued $900 billion in debt in five short months! In other words, somehow the remaining buffer of just $300 billion, or a final debt ceiling of $15.5 trillion, is supposed to last the US until after the presidential election, because this topic flaring up just before Obama is due to hit the debate circuit will be reelection suicide. So our question is: how will the US, which has a gross debt issuance rate of over $100 billion per month on average, last for a year with just $300 billion in dry powder? And even if the $1.2 trillion count begins from the new request, it still means the new debt ceiling will be breached some time in August/September, as we expected last year when we did the calculation assuming a $180 billion gross issuance per month ($900 billion in 5 months). We can't wait to hear the OMB's explanation.
Slavery comes in many forms. As Europeans are discovering everything has a price. It starts out slow, the media manipulation is subtle, the fingers are always pointed at some fear generating enemy that the government must protect us from.
We ask, Who will protect us now? Who will protect us from our selves?
