The current recession is nothing compared to the one preordained by our continued debt-funded budgets.
Think about it. What’s the primary cause of our continued Carteresque malaise? Consumer and business deleveraging, resulting from the bursting of an economic bubble. That is, excess funds generated by consumers and businesses are being plowed into paying down debt run up during the frothy good times. In reality, we are seeing the natural consequences of realizing your dream life was just that, a dream.
If this is what it looks like when consumers and businesses have to deal with the consequences of pretending there are no consequences, how is it going to look when governments have to do the same? Decade upon decade of pretending Social Security and Medicare are not Ponzi schemes are going to come to an ugly end, with a likely donnybrook for the ages between the makers and the takers. There will simply be no money left to go around, and no one left who can/will lend us any. We’re going to have to use most or all of our revenues simply to pay back creditors. Or defualt. There’s not going to be anything left for anyone else. It’s going to make our current troubles look like the Postwar Boom.
‘Puter’s yokel-like God-fearing and gun-clinging have prepared, him for the inevitable, though. Aong with his army of Helly Kitty drones. Are you ready?
But that’s not the horrifying thought for the day. Picture Rhea Perlman and Danny DeVito getting busy. You’re welcome.