Skip to comments.Realizing the Full Implications of the Forthcoming Catastrophe
Posted on 07/27/2019 11:20:53 AM PDT by amorphous
Roman poet Virgil penned these words in his epic, The Aeneid, roughly a generation before the birth of Jesus of Nazareth. They can be loosely translated to, the descent to hell is easy. Those whove traversed this passage can attest to the veracity of this axiom.
Though not apparent in the milieu of Virgils poem, for our purposes today, well extend its application to the insidious progression of currency debasement. What short utterance more aptly characterizes the steady degradation, as currently practiced by todays church of state?
Yesterday [Thursday], for example, the House acted with untroubled ease to further Americas descent to hell. With little resistance, federal spending was increased and the debt ceiling was suspended for two years. Having delivered tomorrows curses, the nations Representatives can skip town without missing a moment of summer recess.
As you can see, the allure of getting something for nothing is far too enticing for even the most honest politician to pass up. And with an endless supply of fake money behind you, why stick your neck out and get clobbered? The public debt encumbered is already well beyond honest repayment. But thats a problem for tomorrow; not today.
Representative government in America, circa now, has nothing to do with upholding individual freedoms and liberties. Nor is it about making tough decisions in the interest of the long-term health of the nation. Its about doing the expedient and suspending the debt ceiling so the descent to hell can be made as comfortable as possible. Wreckage from the Past
Rarely are people capable of understanding the full implications of a forthcoming catastrophe of their making. Perhaps, its not because theyre truly incapable of it. More likely, its because theyd rather ignore it.
Facing up to the facts of an unpleasant reality can be painful. It also implies a recognition that what one has been doing isnt working. And that the arduous task of righting ones wrongs must be initiated forthright.
Pursuing delusion, of course, is abundantly easier for a time. However, as the wreckage piles up from the past to the present, the day of reckoning becomes much more ominous. There really is no escaping it.
Certainly, Congress is far from this recognition. Otherwise, theyd get serious about the nations fiscal doom, tighten their belts, reverse course, and suffer the immediate consequences. But thats not whats happening at all.
Instead, Congress is doubling down on their wreckage from the past. Theyre blowing the debt out like theres no tomorrow. The insanity of it, even for a casual observer, is near impossible to ignore.
For example, at the turn of the new millennium, the national debt was $5.7 trillion. By 2010 it had more than doubled to $13.5 trillion. By 2020, itll be over $24 trillion.
Hence, over the last 20 years the national debt has increased 320 percent. But over this same period, nominal gross domestic product (GDP) has only increased 100 percent. Whats more, this divergence stands to get much more extreme
Realizing the Full Implications of the Forthcoming Catastrophe
When the next recession arrives, and Washington pulls out all the stops to counteract it with massive new applications of debt based stimulus, the debt will go vertical while GDP flat lines or contracts. These different trajectories will be reconciled by default or price inflation. Washington, no doubt, prefers price inflation.
The popular delusion of the 21st century is to assume the highest virtues of democracy. This faulty assumption propagates a dangerous archetype: the tyranny of the masses and its twin consequences, deficits and inflation.
Voters want a free lunch. They want their neighbors to pay for it. They elect stooges to office who promise massive social welfare, public works, and defense spending programs. Then, the hack economists advance an absurd theory like Modern Monetary Theory to deliver something for nothing.
The deficits mount up year after year, the currencys debased year after year, until something gives. In short order, confidence evaporates and price inflation explodes. The country succumbs to political, economic, and cultural destruction.
Indeed, the descent to hell is easy. But Virgil also adds a lesser known corollary, Sed revocare gradum, superasque evadere ad auras, Hoc opus, hic labor est, which can generally mean, But to retrace the way and return to the upper airs; this is the task, and where the mighty labor lies.
Congress may still ignore it. The Treasury Secretary may still ignore it. The President too. But for more and more Americans the full implications of the forthcoming catastrophe are becoming painfully clear. That is, the realization that we are absolutely and utterly screwed.
MN Gordon for Economic Prism
Lots of people are going to notice a $25 trillion meltdown, which will happen after the Democrats take total control, which I believe can not be prevented.
The banks can pay low interest rates and I can continue withdrawing money out.
I four years my bank money will mainly be spent and I will wait as long as possible to take Social Security.
So easily one slithers down to Hell.
By night or day, no matter. One gets in.
But grappling one's way up again to light,
that is the task, the toil.
A few succeed, by Jove's grace,
or a hero's soaring will.
Economic determinism is Marxist.
In 1945 all the Reichsmarks on Earth were toilet paper. In 1955, Germany was thriving. There are many, many other examples.
If ten-year old trannies are celebrated for dancing in gay strip clubs, does it really matter what happens to the money?
Pursuing delusion, of course, is abundantly easier for a time.
One can deny reality but there is no denying the results
of denying reality...as the demorats are finding out.
Oh, and I should have added: Anyone who was consumed with saving and investing while his country was turned into a perverted shithole and was overrun with wave after wave of shithole dwellers deserves whatever he gets.
Anything imported will be terribly expensive.
Trips overseas will be too expensive for most Americans.
Many Mexicans will say adios, cerdos.
Social Security payments will decline about 20% in real value on domestic items.
Federal taxes will go up by about 2/5ths.
There’s nothing I can do about perversion or Central American invasion.
There was nothing my ancestors could have done about American chattel slavery.
“If voting mattered, it would be illegal.”
“In 1955, Germany was thriving.”
By 1945, most German cities were mainly rubble.
There was lots of rebuilding work to be done, financed by an expensive tax on the surviving buildings.
“does it really matter what happens to the money?”
My county insists on collecting property tax.
Government makes sure lots of things matter to me.
American life will resemble that of 1970’s Britain, but without coal miner strikes.
The nearest comparison is probably Venezuela, unless our enemies take advantage of our future weaken state, we being the most powerful nation, and as usually happens in such circumstances - using history as our guide.
Technology and those best able to take advantage of it will be a critical factor. All in all, the entire globe will feel the effects of a declining economy in the US of A, IMO.
Bad times demand more spending.
Good times are an opportunity to spend more.
Lather, rinse, repeat.
These days they aren’t priming the pump, they’re engaging in economic masturbation to such an extent that that one character from Dr.Sax would be embarrassed.
Agree, but that's never going to happen. Barring some unforeseen technological - or spiritual - savior, we're off the cliff and headed for a very hard landing.
To me more trying to talk things down by predicting something they intend to make money on
Sounds like Democrats wrote this
Oh gee. The debt !
Pay off all debt and make sure you have everything you need.
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