The Insanity Of Reality
January 12, 2010
– Comments (8)
We have a government "of the people" needing to borrow money......lots of money. And since no nation has the requisite money to loan our government, we had to turn to our banks.
However, our banks were insolvent, so our government gave the banks trillions of free money so banks could lend it back to the government at much higher rates.
Why would our government give the banks free taxpayer money simply so the banks could lend it back to the government at a much higher rate??????
And to add insult to injury, the bankers give themselves massive bonuses and foreclosed on private borrowers who were in the identical position they were in...except didn't have access to any money???????
The joke is that the American economy has become functionally dependent on private sector borrowing in order to maintain spending.....no private sector lending very little private sector spending....and now are tax receipts are evaporating.
THE GOVERNMENT CRISIS.....WE ARE AT THE POINT WHERE THE CITIZENS SIMPLY DON'T HAVE THE INCOME TO SUPPORT GOVERNMENT AS WE KNOW IT.......AND GOVERNMENT SPENDING IS THE SINGLE BIGGEST COMPONENT OF GDP.
Arizona, New York, California, Illinois, Hawaii.........all running out of money and facing historic cash flow crisis due to declining tax receipts.
Going forward, just last year we had tens of millions of Americans lose their jobs and/or suffer massive wage/income cuts who are not going to pay taxes this year deepening the cash flow crisis.
Our governments simply don't have the revenues to meet its expenses including salaries, pension obligations, and commitments....yet so little is discussed about the problem in the open.
Now you have to ask yourself.....what demands will be made on the people when the people don't have the money to support their government???
Crazy times....when the insanity of reality eclipses the tabloids.
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