[rabscuttle385]

*Ping!*

[dennisw]

good one.....
The true sign the gubbermint bubble has burst is when you see pension contracts (unfunded liabilities) opened up and renegotiated. It might take bankruptcy to do it. Yes your county or state might have to declare bankruptcy.

With the Imperial Federal government it will take something more powerful

[jiggyboy]

Like any bull market, government is experiencing a blow-off top. The curve has bent straight up ... With almost uncontested faith in government, its role has expanded so far beyond what it is actually able to deliver that soon we will see a fall that will make the real estate meltdown look like a mild pullback.

Ah but what is "soon"? Look at a graph of NASDAQ from let's say early 1994 to mid-1998 -- it nearly tripled in that period, exponentially, showing every feature of a bubble that absolutely couldn't last one day longer. But from there it more than doubled again in half the time.

I fear it's way too early for us to start thinking that government overreach is peaking. I do believe that we are at a tipping point, but it's a tipping point of whether we believe government is working for us or working against us, and whether exercising our free-speech and voting rights is the best way to deal with the crooks in DC and state governments, or if people are going to start exercising other Constitutional rights instead.

[AZLiberty]

The government bubble burst in Eastern Europe in 1989. What’s the American equivalent of the Berlin Wall falling?

[MrEdd]

This article is gibberish.

It fails to notice that scalebacks in scope of government - no matter how desired - usually require force of arms on one scale or another.

[FromLori]

Check out the breaking news on banana ben!

http://www.zerohedge.com/article/game-over-ben-game-over

[Noumenon]

There's going to be a 'correction' alright - it'll be in the form of a bloody and brutal civil war. The author of this article assumes that, "...outside of a tiny constituency of libertarians, paleo-conservatives, and anarchists, there are absolutely no non-believers in government left." . Bad assumption. A judgement made by someone living in a bubble disconnected from what many ordianry Americans are thinking today.

I, for one, can and will resist the sort of takeover of my life that the author presumes is inevitable. By force of arms if necessary. I'm not alone.

III

[April Lexington]

A sobering thought... many, many common folk are holding their “cash” in government bond dominated money market funds for “safety.” If the government debt bubble bursts, these funds are in deep doo doo because the value of the bonds will plummet. The probability of “breaking the buck” is a real scary thought. Many, many people are going to take a hit as funds can’t sell their bonds without taking HUGE and SERIES losses! I can see funds unable to redeem shares and investors not being able to get to the cash. As most brokerage accounts and 401k type plans hold liquidity in money funds and as most money funds hold, at least, some assets in gov debt, the manure has a good chance of hitting the ventilator in a big and impressive way... just sayin’