The people responsible for this know what they're doing is not only wrong, they know factually that it cannot work in the intermediate and long run. They don't care. They're only interested in their ability to loot.
In this Russia Today interview Karl Denninger talks about the austerity that is soon to be unleashed on an unsuspecting American public. An austerity that will crush them like Robert De Niro was in the classic Raging Bull...
It’s not just the Bush tax cuts that expire at the end of the year. The maximum lending limits at Fannie Mae, Freddie Mac and FHA were set to expire. The Build America Bond (“BAB”) program is another. They both have been “fixed”. We kicked the can..
Mesopotamian economic thought c. 2000 BC rested on a more realistic mathematical foundation than does today’s orthodoxy. At least the Babylonians appear to have recognized that over time the debt overhead became more and more...
Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion.
"We cannot solve our problems with the same thinking we used when we created them."
House Minority Leader John Boehner (R-Ohio) . . . that the Social Security retirement age should be raised to 70. . .Ensuring there's enough money to pay for the war will require reforming the country's entitlement system, Boehner said