Relax, Why We Are All Broke II
August 08, 2009
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In my prior blog, I explained the concept of joint and several liability and how as citizens of the United States we are liable for the debts and actions of our government.
Now I am going to explain why, under current Zombulation policies, it will be impossible to escape from being Zombulated.
You simply can't escape....no matter how hard you try. Over the past 10 years, a HUGE percentage of taxes paid were simply generated from borrowing money and spending, buying and selling property at higher and higher prices, increased property taxes, and accumulating massive debt.
After infecting the economy with trillions in debt at teaser rates, then raising interest rates 17 times, tightening credit standards, and toughening bankruptcy laws..... few qualify to borrow anymore as the the banks have substantially cut off our nation from credit. Revenues and profits are evaporating as debt defaults and so are tax receipts to government.
In addition, government expenses are increasing as employees are being fired by the thousands. Compounding the problem is defaulting debt destroying profits to our financial system and values in our pension funds and retirement accounts.
When we fire employees or cut wages, we lose tax receipts and they likely default on debt. With less receipts and higher expenses, government is forced to find replacement revenues either through MORE borrowing or increased taxes to its citizens.
If our nation goes to war, the Zombulator will take your children. If our nation increases the military footing, it will need your children to support that larger infastructure....whether you agree with it or not. The same is true if government needs money to support our nation.
With a massive debt load suffocating revenues out of the economy, BOTH privately and publicly, and few qualifiying for credit, every month more businesses are shutting down, more people lose their jobs, more suffer wage cuts, bankruptcies are skyrocketing and more default on mortgages....each time this happens less and less is paid in taxes.
As more and more Americans are Zombulated, there will be fewer and fewer left to feed the Zombulator. As the Zombulator's expenses go up, it will be forced to borrow more and more......until no one will be willing to lend the Zombulator anything because most of its borrowing will be to simply pay interest as interest rates will inevitably rise.
Once the Zombulator can't borrow any more...it only has one place left to get funds.......guess where? Based largely on declining revenues, the Zombulator has had to borrow more and more recently...we have gone from borrowing a few hundred billion per year, to $500 billion per year, to $1 Trillion per year, to OVER $2 Trillion per year, to what will likey be OVER $4 Trillion next year(China's entire GDP).
As more and more Americans go broke, there will be fewer and fewer left for the Zombulator to take from.....AND THE ZOMBULATOR NOW NEEDS A LOT.....once the Zombulator has taken all to keep itself alive, there will be nothing left to take from anyone.
It is just a matter of time....you will know by 9.09....relax.
Zombulation occurs when you run out of savings and access to credit, or government taxes 100% of your income and assets, you have been Zombulated......in either case, you are broke.
And the BIGGEST joke of all is we are giving bankers billions in taxpayer funded bonuses for Zombulating our nation. Are we paying bankers to Zombulate us?
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