The Sequester: Budget Crisis or Manufactured Crisis?

Debt held by the Public? Total Public Debt Outstanding? Sounds like we owe it to ourselves. They should call the first one 'Debt owed to the Haves', and the second one "Total collective debt of the Have-Nots'. This is a massive redistribution of wealth right under our noses.

Kinda reminds me of the communist slogan--"From each according to their abilities, to each according to their needs." In Soviet Russia, people maximized their benefits and minimized their contribution. They competed with each other to screw the system the most. This is the way they minimized theft by the system. It resulted in people having to wait in long lines because people didn't produce as much as they demanded, so stuff had to be rationed out.

In soviet America, we redistribute the wealth with taxes and interest on loans, but we need social insurance against unhappy slaves who can't get enough redistributed funds to live, and would be inclined to tip over the whole system. The haves get the benefit of this insurance, while the have nots get to pay for it. And everything else.

Reminds me of the joke about how in capitalism, man exploits man, while in communism it's the exact opposite.


Hatha

Email tells feds to make sequester as painful as promised



In the internal email, Animal and Plant Health Inspection Service official Charles Brown said he asked if he could try to spread out the sequester cuts in his region to minimize the impact, and he said he was told not to do anything that would lessen the dire impacts Congress had been warned of.

“We have gone on record with a notification to Congress and whoever else that ‘APHIS would eliminate assistance to producers in 24 states in managing wildlife damage to the aquaculture industry, unless they provide funding to cover the costs.’ So it is our opinion that however you manage that reduction, you need to make sure you are not contradicting what we said the impact would be,” Mr. Brown, in the internal email, said his superiors told him.

Do you want to REALLY know why this whole 'sequester' thing doesnt matter in the slightest?

https://www.youtube.com/watch?v=-_N0Cwg5iN4

Greenspan is at least consistent. Many years ago he said the United States can meet all it's obligations, however the Fed could not guarantee purchasing power.

He didn't say anything about not being able to guarantee purchasing power here. Inflating the currency has the exact same effect as default, only instead of having worthless bonds, you have worthless currency. So, go out and buy all the bonds you want, and when they mature, cash them in for worthless money.

And thank Alan Greenspan for your great fortune.


Hatha

So many dick stabs so little time.