Tuesday, February 22, 2011

Debtors' Prison

Well, I have to admit it – the “tea partiers” in Congress seem to be holding their own. They have not yet accepted the sick, twisted marriage proposal from the mainstream Republicans... and they're being stubborn about things like the deficit and useless government programs. Of course, they are still a very small minority, and you can count on the mainstream Republicans (not to mention the Democrats!) to try and marginalize them as soon as possible. But in the meantime, they're “walking proud and talking loud”, and defying the principle of “business as usual”... and it's a fine thing to see.

And then we have the economy, which – for those who are employed – seems to have lost some of its toxicity... except, of course, for deficit spending, the national debt, “untouchable” entitlements, and the cost of waging perpetual war. But what are those trivial matters compared to the surprisingly robust recent performance of the stock market? After all... well, come to think of it, the stock market is owned and operated by the financial and power elite, so you would expect it to be doing well. And all of the economic discontents are “owned” by the taxpayers... i.e., they're the ones who are going to be stuck with the bill for all of the inevitable failures. Not unlike what happened to the financial sector, for that matter – the taxpayers paid for the bailouts and the economic stimulus plan, and the elite collected the benefits. Yes, it's good to be king...

And now we have the prospect of a “government shutdown” -- which, it seems to me, would be a good thing, but few in Congress seem to agree. It's all about a “showdown” on budgetary matters, just as it was back in the Clinton days... and, as usual, the budget-cutters will be the first to blink, since they know that the media are on the side of tax and spend... and as the media so, so go their constituents. Sad, but true. But, in fact, it may actually be too late to do anything about deficit spending, or the national debt, in a controlled, prioritized fashion. In other words, there may, at this point, be no other choice than to face up to eventual, and inevitable, economic collapse... except, as I always point out, for the Regime. If they had wanted the American economy to collapse, they would have allowed it to already – I mean, what was standing in the way? But instead, they've kept it on life support for reasons that are not readily discernible... and they might just keep it on life support for years to come, even in the face of an impossible, fantastic level of debt. I mean, if we can owe ourselves (and other governments and international financial entities) $14 trillion, why not $28 trillion? Why not $100 trillion? Why not $1 quadrillion? There seems to be no limit... and that's the point, I guess. The national debt is already way past the “ever repayable” point, so it's never going to be repaid; it's as simple as that. (Well, I guess it could be if we instituted intentional hyperinflation, and repaid it with “Zimbabwe bucks” -- but that's not really repayment. Not in principle, at least.) So if it's never going to be repaid, then why worry about putting limits on it? The only reason for setting (and repeatedly raising) arbitrary limits is to try and lay claim to some level of fiscal responsibility... but it's too late for that as well.

Of course, there are other limiting factors. You can't raise the national debt without raising the number of people, or entities, who are willing to loan money to the government... or without raising the aggregate amount they are willing to loan. China, for instance, which has been more than willing to loan us money over the years, is starting to get cold feet. Average Americans have less money every day to loan to _anybody_, including the government. And so that leaves... who, or what? I would say, basically, it leaves the global financial cartel, AKA The Regime, which is, IMO, based in Europe. They have as close to infinite resources as any entity on earth... and I guess they could keep “investing” in the American economy indefinitely – with the agenda of enslaving us, of course. You see, right now the “national debt” is what the “nation” owes everybody else. But what is to prevent someone, at some point, from liquidating the national debt by distributing it among the citizenry? In other words, if each person's share at present is a bit over $45,000, why can't the government simply tell all of its creditors, “We're making a minor accounting adjustment and shifting the so-called 'national debt' onto the people who really owe you this money – namely the American citizens. They each owe you $45,000, and you're welcome to collect it in any way you see fit... and you have our full support in this matter.”

Madness, you say? Well... no more mad than the process that has already gotten us to this point. I mean, FDR confiscated everyone's gold; that was a form of madness (or tyranny)... Nixon got us off the silver standard... and the national debt, which was supposed to be a short-term mechanism for funding in times of extreme national crisis, has become a chronic, and fatal, disease. No, the madness has already happened... the impossible has come true... and it only remains for someone to take a poke at this house of cards. But again, the people in a position to do this have chosen not to do it... yet.

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