Technical Default of the USA Avoided by 72 Hours by Jake Towne, the Champion of the Constitution
(libertarian)
Thursday, January 7, 2010
These drunken sailors are eventually going to completely ruin our country's economy by destroying our currency and the Treasury market which are tied together at the hip in one giant Ponzi scheme operated by the inept central bankers at the Federal Reserve. Congress recently raised the debt ceiling by $290 billion in order to close out 2009 - but it almost wasn't enough. As Zerohedge reports, spending surged by over $200 billion in two days, blasting through the old debt limit just after the bill managed to pass the Senate and hurriedly get rubber-stamped by the President. There is "just" $140 billion left until the debt ceiling must be extended yet again.
I agree with Zerohedge's comment: "if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand."
While a sovereign default in the USA is by no means certain in 2010, one has to wonder just how long these jokers in Congress can tread water before sinking as the debt levels go exponential. But hey! Members of Congress make a $174,000 salary, receive a pension with up to 80% of their salaries for the rest of their lives, and legislate on YOUR health care while kicking back with the elite congressional health care plan. This group of oligarchs constantly intervenes in the economy, commits reckless "stimulus" spending,grants corporate favors to their favorite lobbyists, and has a 93% re-election rate for the past decade. DO YOU THINK THEY REALLY CARE ABOUT YOU?
One trader, Jim Willie, has consistently been correct, although too aggressive at times, with his long-term predictions. Read his December 16 article "Full Circle of Government Debt Default." Time will tell whether his cycle diagram's prediction comes true.
Economist Jim Quinn has been alerting citizens for over a year, check out his latest "The Road to Perdition."
I recently wrote "Guns or Health Care?" to point out just how insane our military spending has become. I care more about my country than my so-called "representatives" - the incumbent Congressman and Senators in my district put together - because I realize that as our society goes, so too does MY family's standard of living, MYfreedoms, and MY happiness.
I am going to ruthlessly fight this Establishment that is ruining our country. I am just an ordinary citizen like everyone else, but I'll do my very best to explain everything that is happening, listen to concerns, and share my solutions with the public all the way until Election Day November 2, 2010. Upcoming events are here.
Along the way I hope to wake the people of the 15th congressional district up. We will find out whether people in my district desire liberty over slavery, peace over war, sound money over endless debt, and prosperity over the poorhouse. I have staked 18 months of my life that they will chose the formers, and I am confident that my decision to return home from China and campaign for a seat in Congress will not have been spent in vain.
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
As always, unlike the NFL, the author grants full permission to allow any accounts of, rebroadcasts, retransmissions, repostings of this article to your blog or anywhere else in order to promote the Restoration of our Republic.
Veritas numquam perit. Veritas odit moras. Veritas vincit. Truth never perishes. Truth hates delay. Truth conquers.
Tu ne cede malis sed contra audentior ito. Do not give in to evil but proceed ever more boldly against it.
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in this article are those of Jake Towne, the Champion of the Constitution only and
do not represent the views of Nolan Chart, LLC or its affiliates.
Jake Towne, the Champion of the Constitution is solely responsible for the contents
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Please don't denegrate drunken sailors that way. Drunken sailors earn and spend their own money, not other people's. Drunken sailors have fewer scandals and indiscretions and generally don't hide them. Drunken sailors don't make policy and law in secret, behind closed doors that effect the lives of everyone else,. And finally drunken sailors sober up in the morning, unlike Congress.
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