Monday, June 07, 2010

We Asked For It

CHARTZ
“ President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output - more
 ”

So much for the Keynesian economic solution the Obamacy brought back.  Thanks, shitheads.  This much out of control debt will never, ever be repaid.  Solution?  A world war.  Hug your kids and grandkids; build good memories.  Here's the real Laffer.

6/07/2010 09:17:00 AM 4 Comments

"If the number of Islamic terror attacks continues at the current rate, candlelight vigils will soon be the number-one cause of global warming. "
Argus Hamilton


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4 comments:

Anonymous said...

Well, the money has to be available before you can borrow it. My thinking is that it's not really there, and the willingness to lend is not there, either.

I'm thinking a substantial amount of congress critters are wondering if their next trip home will be best not made. I can only hope.

6/7/10, 9:24 AM
tom said...

Wow, Hoffer sure described Chucky to a "T". Arrogant, boorish, displaying the DoYouKnowWhoIAm attitude. I don't know how he gets re-elected, ever.
Oh, by the way, if he believes 1/10th of what he says, he is dumber than a small bag of Bull Manure.
tomw

6/7/10, 10:28 AM
Hell_Is_Like_Newark said...

I see two possible outcomes that will be played out in my lifetime:

#1 We go the way of 5th Century Rome. Power devolves into warring strongholds. The West descends into anarchy not seen since the 500 year period after the fall of the Western Roman Empire.

#2 The end of the social welfare state. Its death throws causing wrenching economic pain. However, strong leadership presses the proverbial economic 'reset' switch. Public pension plans are largely defaulted on, govt. is cut back to levels not seen since the 19th century, and we see the end of fiat currencies (gold and silver become legal tender again).

6/7/10, 10:28 AM
DougM said...

One of the main problems with government debt is that borrowing takes money out of the available-for-investment pool and flushes it down the toilet on unproductive waste and graft, rather than enabling economically viable investments.
Government enterprises are never intended to be economically productive, and they usually go to propping up economic failures. Digging holes, then filling them in provides jobs, alright; but that does not create wealth. The government does not generate wealth, it fritters wealth away.
(What? Well, okay, by "fritters away" I mean "destroys, wholesale.")

6/7/10, 12:22 PM

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