Something cheerful, via ZeroHedge:
Mounting debt generates its own limit: insolvency. Demographics shaped by the transfer state compound the problem. Stealing the fruits of labor penalizes honest productivity and constricts opportunity. Faced with bleak prospects, many of the young opt out of the financial obligations of starting families, rearing children, or even supporting themselves. Birthrates have dropped far below replacement in most developed countries: fewer people to fund taxes and debt just as the number of putative beneficiaries skyrocket. Pension shortfalls around the world are the canary in this coal mine. The mathematics are inescapable. Present arrangements are unsustainable, but will continue until debt markets and taxpayers rebel.
They will face a counter-rebellion by dependency-warped recipients deprived of that which was never really theirs. Those who can but don’t honestly produce are both dishonest and unproductive. Faced with a cut-off, expect chaos and violence.
You have been warned.
LSP
12 comments:
It's barely even mathematics.
Simple arithmetic shows these Ponzi schemes are unsustainable....
Barack borrowed $11 + trillion.
Paying it back will take considerable effort.
Hillary will borrow another $11 + trillion if elected.
And will cackle while spending it.
Since all this money doesn't really exist, what's to stop them form having a global financial crisis and then just calling off the debt?
I'd agree, drjim. As someone once said, "The problem with debt is that someone, sometime, wants to get paid."
Nothing quite like spending other people's money, LL.
Adrienne, I'd be surprised if the crisis didn't come sooner than later.
Guys, wake up to reality. Something like 75% of the last 46 Nobel laureates in Economics were associated with the United States.
It stands to reason that what we need to do is follow their advice. All could be well if only our politicians would utilize this resource.
I believe the "crisis" is planned to explode as soon as Trump is elected. The thing the elitists don't get is that Trump will be able to handle it.
I read "Patriots" by John Wesley Rawls years ago, about the financial collapse of the country. It was eye-opening, and not far from the current mess, as I recall.
Breadandbullets
Are you sure we should trust the experts, Anonymous?
I predict a reset at some point, Adrienne, but I'm no expert...
I haven't read that, Anonymous, but I've been meaning to.
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