Posted on 03/03/2015 11:18:32 AM PST by NRx
In a valedictory speech at the weekend of characteristically Latin American duration – a mind-numbing three hours – the Argentine president, Cristina Fernandez de Kirchner, claimed that her country was the only one in the world to have reduced its national debt over recent years.
I doubt she is right about being alone in this “achievement” – there must surely be others - but even if she is, I’m not sure that reduction in the national debt via the mechanism of default is anything to boast of. Only Kirchner could think this a matter of national pride.
Nonetheless, where Argentina treads, others will surely soon be following. The world is sinking under a sea of debt, private as well as public, and it is increasingly hard to see how this might end, except in some form of mass default.
(Excerpt) Read more at telegraph.co.uk ...
And with mass default comes war.
I absolutely believe this is true. No politician has the courage or political will to do what needs to be done. To the contrary, they are all jockeying to be in place to snatch the last bag of gold off the train as it goes over the cliff. There's a hard rain gonna fall.
What will end the government’s addiction to taxpayer money?
When people vote, legally, for the public till to be theirs, it will never work.
Government is taking from some and giving to others, including themselves.
The correction will cause massive unrest, but as you said, no one will fix the root problem because they would be voted out.
When people vote, legally, for the public till to be theirs, it will never work.
Government is taking from some and giving to others, including themselves.
The correction will cause massive unrest, but as you said, no one will fix the root problem because they would be voted out.
“What will end the government’s addiction to taxpayer money?”
Anarcho-libertarianism. If you have a government, it must be fed. Which is why I am not opposed to taxes per se. Just what we do with them. Because anarchism is just too idiotic to even merit serious discussion.
FWIW I rather disagree with Warner’s apocalyptic view of a coming hard default. Yes, there will be a mass default, but it will be a soft one. The traditional solution to excessive sovereign debt can also be easily applied to private or corporate debt. Flooding the world with newly printed money will have the effect of inflating away a lot of this debt.
What will end the government’s addiction to taxpayer money?
The US Constitution was written for that purpose...
Didn’t work... worked for awhile.. but was soon IGNORED..
The US Constitution has become A CARTOON...
by BOTH parties.. a very few republicans follow it.. BUT alas...
THEY ARE DELUSIONAL.... dreamers... maybe retards..
Only Civil War will reset the United States..
FREEDOM always costs BLOOD.. always, every time.. in every case..
NO BLOOD......... NO FREEDOM...
The liberals will ONLY release power from their cold dead hands..
Rope.
If China is left holding inflating US dollars I expect war. If Africa is left with the hot potato of US dollars then we'll avoid war, but China will become the next global superpower.
Either way, Las Vegas probably needs to brace itself to receive hordes of suddenly-monied Africans in search of hookers and blow.
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