Why Alstry's Solution Is Perfect...
Right now America is insolvent. So are its banks. The FDIC is broke, the FHA is broke, and so is our Pension Guaranty. Not only that, Social Security is now cash flow negative and the condition is only going to get worse as millions get fired or suffer massive wage cuts against an aging population.
If America is broke, we are all broke since citizens are always held responsible for the debts of its nation.
Right now, we giving BILLIONS of dollars of bonuses to insolvent bankers.......bankers responsible for infecting our economy with a debt load that is mathematically impossible to pay back and debts which the bankers profitted by betting we would default. The joke is that the money we owe the bankers was created with money the bankers NEVER had in the first place.
One could make the legal argument that many of the loans the bankers extended were made with illusory consideration and not enforcable due to impossibility of performance. Actually, Alstry maybe working on such a lawsuit presently.
The problem is that it is impossible for our schools, hospitals, police departments and fire departments to pay back loans against evaporating revenues arising from Benny B's and his banker buddies Zombulation policies.
You simply can't cut off credit to a credit based domestic consumer economy and not expect MASSIVE economic collapse to result...
Right now over 2 million Americans are losing their jobs every month and few are getting hired....hospitals, clinics, and government have just started to fire workers so the pace of layoffs is likely going to increase. Unless we restructure debt, and the manner can be debated, it is mathematically certain that over 80% of America will shut down or forced into insolvency.
America is not structured to be a nation where only a few have money....we have 24 square feet of retail space for every citizen versus Sweden's three or Australia's six. Further, our social security system and medicaid system requires massive numbers of workers paying taxes so it can be funded.
Cleary we are headed for a train wreck and there is not much we can do to stop it...but unless we restructure soon, government will forced to tax every citizen 100% of their income and assets simply to maintain America's soverignty.....you think I am kidding....just watch how government starts to take away your liberties as the bankers rake in billions while much of the nation starves.
At this point, I don't need to warn you anymore...9.09 is here......and the shutdowns are just getting started with Saturn tonight and maybe CIT tomorrow....the largest bankruptcy in American history that is now bleeding $1 Billion dollars per month.....the joke is if a bank bails it out, it will be an insolvent bank bailing out an insolvent finance company.....
Welcome to America 9.09....where insolvent bankers are the only ones bailed out.....just wait until the Michael Moore movie comes out this weekend.....it will be a shocker for many of you.