HILLARY: DECEIT, DEBT, DELUSIONS (PART TWO)
from The Burning Platform:
In Part One of this article I addressed the deceit of Hillary Clinton and politicians of all stripes as they promise goodies they can never pay for, in order to buy votes and expand their power and control over our lives.
I created the chart below for an article I wrote in 2011 when the national debt stood at $14.8 trillion, with my projection of its growth over the next eight years. I predicted the national debt would reach $20 trillion in 2016 and was ridiculed by arrogant Keynesians who guaranteed their “stimulus” (aka pork) would supercharge the economy and result in huge tax inflows and drastically reduced deficits. As of today, the national debt stands at $19.7 trillion and is poised to reach $20 trillion by the time “The Hope & Change Savior” leaves office on January 20, 2017. I guess I wasn’t really a crazed pessimist after all. I guarantee the debt will reach $25 trillion by the end of the next presidential term, unless the Ponzi scheme collapses into financial depression and World War 3 (a strong probability).
The total disregard for the most perilous issue confronting the nation by politicians of all stripes is a national disgrace, proving beyond a doubt the elite ruling class has no conscience, no sense of morality, and no loyalty to the common people or future generations. The sociopaths who act as if they are in control addressed the 2008 global debt meltdown by adding tens of trillions in new debt to an already unsustainable system, setting the world on a course towards total financial collapse and world war.
There is no denying Wall Street, through the greatest control fraud in history, purposely generated trillions in bad mortgage products, bundled them in packages of indecipherable derivatives, bribed and threatened the rating agencies for fake AAA ratings, sold them to unsuspecting clients, while simultaneously shorting them, and proceeded to destroy the global financial system in the process.
The national debt at the outset of this crisis was $10 trillion, with total US credit market debt of $54.5 trillion. The debt was too damned high. A massive deleveraging needed to take place, wiping out the bad debt and those banks who gambled and lost. But, those who would have lost were establishment Wall Street bankers, billionaires and politically connected players. The establishment circled the wagons, instructed their puppets at the Federal Reserve to do whatever necessary to save Wall Street, rolled out trillions of Keynesian claptrap spending schemes, and threw Main Street and specifically senior citizens under the bus.
Eight years later the national debt stands at $19.7 trillion and total credit market debt has leaped to over $64 trillion. The Fed has conspired with other central banks around the world (specifically the ECB and JCB) to follow suite, driving global debt to an all-time high of $152 trillion – 225% of a rapidly slowing world GDP. And this doesn’t include the trillions of bad debt within the financial sector, as insolvent banks like Deutsche Bank, all Greek, Italian and Spanish banks, and Citigroup teeter on the edge. Rogoff and Reinhart proved when the debt to GDP ratio in countries exceeds 90%, financial catastrophe isn’t far behind. What does that say about our global economy?
We have the greatest debt bubble in world history and neither presidential candidate thinks it worthy of 30 seconds during two 90 minute debates. Instead they focus on the important stuff like pussy, bimbo eruptions, emails, and mean talk. The proposals of both candidates would turbocharge already skyrocketing deficits. The people of this country should be scared shitless about the debt. But instead they are focused like a laser beam on Kim Kardashian’s latest escapade, twitter wars, facebook pictures of a distant cousin’s toe fungus, and the latest adventures of the Housewives of NY, NJ, OC, or Atlanta.
All honest borrowers know debt must be repaid. The U.S. government is not an honest borrower. With the national debt rising by $2.8 billion per day, one needs to question whether the U.S. government is an honest borrower. With annual deficits guaranteed to exceed $1 trillion per year for as far as the eye can see, how will the debt ever be repaid?
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The article, "HILLARY: DECEIT, DEBT, DELUSIONS (PART TWO)", was syndicated from and first appeared at: http://sgtreport.com/2016/10/hillary-deceit-debt-delusions-part-two/.
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