We noticed. California is bankrupt and is near collapse. But that doesn’t stop the liberal idiots in charge from continuing their idiotic big spending ways. Doesn’t even slow them down. The inevitable collapse is going to be a big surprise to them. And to their legions of highly paid government union worker goons (useful idiots) who are going to see their plush pension funds go *poof*.
And the USA is not far behind.
When it goes poof!
They will be angry and feel entitled to your 'stuff'...they'll come looking for you too.
Prepare now!
No one in their right mind would ever purchase a government Bond again and the present owners of municipality and city Bonds (which is close to US $1.8 trillion and then you have another US $1.2 trillion on the state level), will start dumping Bonds, to recover whatever they can get.
We noticed. California is bankrupt and is near collapse. But that doesn’t stop the liberal idiots in charge from continuing their idiotic big spending ways.
I think that those politicians in a position to actually make decisions on this stuff are like a pilot of an airplane flying over rugged mountains and the “fuel low” light is about done flashing and we’re running on fumes. The pilot can either lawn dart into the mountains and just end it or he can do all he can to keep the plane on a glide path while he searches in vain, looking for a magic landing strip in the middle of the mountains, all the while telling the passengers everything’s fine. If he told them what is really happening, panic may cause the crash to come sooner and he wants to “kick the can” as long as possible - just in case that landing strip does show up.
But more and more of us notice that the rocky peaks are getting closer and closer. Eventually it will come to its climax.
Government spending is a good example. It is so huge that it is now a major part of the economy. If the government stops spending to the point that it actually makes a dent in the deficit, it will cripple the economy and put it in a deflationary death spiral. It’s the “lawn darting” I mentioned earlier. Imagine the jobs that would vanish in government and private sector government contract suppliers. And then the support industries - cars, real estate, food, motorcycles, computers.
There is no way to slowly deflate this balloon. It would require certain industries to become sacrificial lambs. Nobody is going to do that voluntarily. The “solution” will not be voluntary any more than the final contact the above airplane makes with the earh will be voluntary. And when it does make final contact it will be very ugly indeed.