Monty Pelerin shared some comments and a video which explains why the United States government is going to collapse economically. This is why the new Obama ad, in which President Obama says that he will tax the wealthy to “pay down our debt”, is utter mendacity. This video shows that the United States Federal budget cannot be balanced. It is mathematically not possible without some maturity. Going after US expats around the world will not solve the problem. But we can be sure that as long as the USA cannot get its fiscal house in order, the federal government will continue to demagogue against expats.
It’s the numbers, stupid, by Monty Pelerin
Most people have no idea of the unsustainability of government spending. The path which the government blindly follows ensures a complete and total collapse of the US. What has happened in Greece (and things will get much worse there) is exactly what will occur in the US. A complete and total economic collapse is inevitable.
The reasons for this ending and its inevitability are explained in this short (5 minute) presentation by Hal Mason in an email that has been circulating. The simplicity of his presentation allows understanding for even the economically illiterate. Simple arithmetic is sufficient to understand the impossibility of our current path and our inevitable ending.
This short video should be watched by everyone, including those not yet old enough to vote. It should be shown in every high school and college classroom. Anyone that cannot understand this presentation should not be allowed out without a guardian.
It’s the numbers, Stupid and the people who elect the corrupt, self-serving politicians in Washington who continue down this road to destruction.
@bubblebustin, There is a lot there to be anxious about but I think Zakaria is right and the era of US hegemony is fading fast. Nothing lasts forever – not nations that’s for sure. I don’t find that scary – just the normal course of things. And what seems so important today is very likely to be a footnote in a history book a hundred years from now. Whatever the future holds for us, I honestly think it will be a huge surprise and not at all what we imagined. Never kick yourself for you “should have done.” Today’s present was yesterday’s future and no way you or anyone else here would have predicted how it is shaking out. All I’m reasonably certain of right here, right now is that the world will, for the moment, continue to turn.
@victoria, it’s all the kicking and screaming the fair haired child will do on the way to the corner that I’m concerned about.
@bb, victoria, Indeed, Saruman was very dangerous even after Gandalf broke his staff.
@bubblebustin and petros, Oh yes indeedee I do see what you mean. They still have enough on the credit card to do some real damage before they call it quits. 🙂
Just in case you aren’t depressed enough, this from none other than Chris Hedges, the man who helped save us from the NDAA:
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“More fiscal cliff, please”