“Ladies and gentlemen, please stay tuned for act two of KICK THE CAN DOWN THE ROAD after the holidays.”
Unfortunately, the Republicans did not gain ONE SINGLE, SOLITARY point during that 16-day debacle. It was totally worthless.
They didn’t stop Obamacare. They didn’t modify Obamacare one single sentence worth.
(Hopefully, Obamacare will implode under its own weight. When more people see how high their rates are going up, and how many of their choices have been axed, the majority will come to their senses.)
The debt ceiling was not raised. Thank the gods for that! Folks, if a family lived on credit card debt and they kept adding more and more credit cards, the creditors would finally pull the rug out from under them. They would go bankrupt. “Debt” means “I.O.U.” Sooner or later, debtors are going to demand the US pay its debts in full, and WHAM, our economy is going to take a very hard hit. We do not WANT to increase that debt limit! The government can get by just fine with the taxes already being collected.
We are not going to fall off a fiscal cliff – The government can get by just fine with the taxes already being collected.
“Please folks, do NOT look behind the curtain! You do NOT want to see what the real drama is! Oh, no, you will throw water on my REAL wickedness and the country will melt!”
That whole 16 day farce was quite a diversion for what is REALLY going to pull us down in to depression – quantitative easing.
Quantitive easing is a horrible, phoney-baloney program of pumping 85 millions of IMAGINARY dollars EVERY MONTH into the banks and Wall Street. The Federal Reserve Chairperson types that amount into a computer, then pushes “send.”
No real money is exchanged. I call it “Air cash,” as in “Air guitar.” It isn’t really there.
UNTIL the time comes to pay it back – then it becomes real – it becomes another DEBT. A HUGE debt. $85,000,000 per month times 12 months equals – more than I can count! It started out at “only” 30 million per month back in 2010, but even at that rate, it will take our great-grandchildren all their lives to pay it back.
Specifically, in 2010 the Fed bought $30 billion in Treasury notes every month. In September 2012 the Federal Reserve decided to launch a new $40 billion per month program. In December, it bumped the amount up to $85 billion per month.
When the Fed even SUGGESTED it would trickle down that amount, Wall Street went into a tailspin. To protect the economy, the next day the Fed said, “Aw, just kidding!” But eventually, that DEBT will need to be paid back!
Well, folks, there you have it. I’ve given you an unannounced spoiler alert to the end of the US economy as we know it.
Are you prepared?