U.S. politicians can literally say anything they want these days:
Working middle class families live within their means, and they should expect nothing less from their government.
— Eric Cantor (@GOPLeader) April 1, 2014
I quickly Googled a few things in order to get some ballpark numbers. Here are a few back-of-the-napkin figures for you:
American Credit Card Debt: $700,000,000,000
Total Household Debt: $11,000,000,000,000
Student Loan Debt: $1,000,000,000,000
That's living within your means?
It's a total disaster, and proof that the money-changers who created this fantasy world will never stop until financial catastrophe forces it.
Take a look at the government's debt. Does it matter which party is in control?
Shouldn't Cantor delete that tweet out of embarrassment? Nah! He's merely shooting par for the course. Everything that comes out of Washington is a lie.
The Soviets and Pravda were pikers.
Chris Rossini is on Twitter
flattery works better if your trying to get your hand up somebody's skirt
ReplyDeleteHave the Mega Banks Put the U.S. on Course for Another Crash?
ReplyDeletePrins comments that at times in the Nation’s history, bankers have demonstrated some social responsibility. “Today, no such attitude prevails,” says Prins. “Never before have the government and the Federal Reserve collaborated so extensively by propping up the banking system to the detriment of the population. Never has the world been so quick to push austerity on countries whose only crime was standing in the way of banker speculation. Never have bankers thought this was copacetic. Never have their political alliances been so widespread yet so impersonal. Never have their rewards been so high.”
That brought to mind the reality of just how far our Congress has sunk from the inquisitive minds of the 1930s.
The U.S. Senate of that era spent years investigating all aspects of the corrupting influences of the Wall Street banks, including stock exchange practices, and the Senate’s findings made front page headlines for years. Five years after the greatest Wall Street crash since 1929 to 1932, stock exchange practices as well as any ongoing, coordinated Congressional investigation of the big picture, has yet to happen. And, each day we learn of new collusion – from rigging of the interest rate benchmark, Libor; to foreign exchange rigging; to rigging of commodities markets, to gaming stock exchange trading.
Where will it all end? Let history be your guide.
http://wallstreetonparade.com/2014/03/have-the-mega-banks-put-the-u-s-on-course-for-another-crash-the-answer-may-reside-in-nomi-prins%E2%80%99-new-book/
Cantor sucks. He talks a good game but his actions don't back it up.
ReplyDeleteIs it prudent to doubt everything that comes out of the DC? Its politicians and bureaucrats have been making credible threats of assault, battery, arrest, etc. against even their own subjects.
ReplyDeleteI know something about the DC area and immense changes over time. The region is in what I would call a 'Gilded Age' period, and the chart provided points out why. In particular, post 2001 there was a gigantic ramp up in spending on homeland security-defense that spawned a giant contracting boom. The bailouts in 2008 were another watershed. In the DC region they now bulldoze older shopping areas, older apartments-condos, older homes, putting in place expensive condos-apts.-town homes, with pricey food stores, retail, bar-restaurants. It is a totally transformed region from even 20 years ago.
ReplyDeletePeople do not need to live within their means. This is more Bible based horse shit. Referring to "money changers" is a give away. All that debt is another person's asset. Why can't people have the freedom to lend and borrow money? Because the Bible says it is bad to borrow? Nonsense.
ReplyDeleteHonest Money: The Biblical Blueprint for Money and Banking
http://www.garynorth.com/public/512.cfm
Of course they don't need to live with in their means and at the same time they should be allowed to suffer the full consequences as a result. Totally agree with you. Its a matter of personal choice and so long as the government is not bailing them out with taxpayer money or creating laws that change their original contracts, they should be allowed to sink themselves in as much debt as they can acquire and like wise be 100% responsible for getting themselves out of debt, be it repayment, bankruptcy or debt restructuring. This goes for college students as well. Its rare I agree with you Jerry, but you're right on, on this one.
DeleteThe Soviets at least staged show trials and held sham parliaments to put a veneer on their lies.
ReplyDeleteOur politicians just make up stuff that never happened, fully aware that the mainstream media will never call them on it. Most recent example: Obama insisting that Washington's little Kosovo adventure included referendum that never happened.