RANT: “Default”? No way, not needed

Tuesday, July 12, 2011

As a political junkie, I’m enraged when some bozo (i.e., politician and /or bureaucrat) is allowed by some talking head to say “default” without opposition.

IMHO any reasonable person would pay the interest on the debt first, then the social security and other mandatory welfare payments, and come up with a “total must pay”. Subtract that total from the budget to come up with “what’s left to pay”. Subtract “total must pay” from current receipts for “what’s left”.

Divide “what’s left” by “what’s left to pay” and that’s the haircut that the budget must be slashed by.

No one is going to be happy, but no default. It’ll set off a lot of wailing and gnashing but that’s what fiscal discipline is all about.

That’s why I say don’t raise the debt ceiling. And, don’t let politicians and bureaucrats scare old people by saying no soc sec or the markets by saying default.

# # # # #

POLITICAL: Too big to fail?

Tuesday, July 12, 2011


Banks Should Die for Their Countries, Not Countries for Their Banks
by Eric Margolis

*** begin quote ***

Greece is using the same scare-tactics that the supposedly too-big-to-fail insolvent US banks employed in 2008: “if I go down, I’ll take everyone with me.”

In this case, it’s Europe’s big banks. Three big French banks, BNP, Crédit Agricole, Société Général, hold large chunks of Greece’s debt. If Greece defaults, goes the hue and cry, French, German, Swiss, and Belgian banks may crash.

Here we go again. Politicians have allowed the banking industry not only to grow larger than manufacturing, notably in the United States where the top five banks control 40% of all deposits, but to become so powerful, over-extended, and risky they are a danger to itself and the public.

Bankers who invested in Greek debt or US subprime mortgages were greedy fools and should be fired, not rescued.

*** end quote ***

Seems logical to me “2big2fail” is “2big2be”.

Only politicians and bureaucrats don’t seem to see the concept.

Nature only allows an efficient size.

“We, The Sheeple” need to update our paradigms and memes.

# – # – # – # – # 2011-Jul-12 @ 07:54

INTERESTING: Poverty; the meme

Tuesday, July 12, 2011


Mom’s apple pie fuels cyclists on last leg of Cycling for Change
By Kevin Kelly

*** begin quote ***

“Poverty hasn’t gotten any better,” he said. “It will take a cooperative effort of government, church and business. If we all work together, we can solve this problem. But if we keep fighting, it will continue.”

*** end quote ***

Didn’t the New Testament say that the poor we will always have with us?

And, “poverty” by what measure?

Argh! Seems like we have a fundamental failure of paradigms and memes.

Paradigm in what we see as poverty. If I have food to eat and a roof over my head, am I poor? If I have “stuff”, am I poor? If I have “habits”, am I poor? I refer back to that fellow in Africa waiting on line to get into the USA, who when asked why, answered “You have poor people who are fat”.

Meme failure is that “poverty” is something that can be “cured”. And certainly, anything that depends upon Gooferment is not going to work.

It would seem that people are poor based on the choices that they make. We need to figure out how to help them learn to make better choices. What we have is a system that enslaves them in poverty. We have multigenerational families who are farming the welfare system. And the politicians and bureaucrats like that just fine. Instant voting block.

Some times the way out is tough love?

End the phony fiat money and the inflation that accompanies it. Privatize Social Security so that the poor can pass on their hard work. End the dole. End the minimum wage. End Gooferment Skrules. End the drug war. End all the wars not specifically declared by Congress and accompanied with a surtax to pay for it.

Then maybe you can redefine poverty.

# # # # #

%d bloggers like this: