Saturday, November 17, 2012

Apocalypse One of These Days



Stirring conclusion also to Steyn:


  1. Not only will taxing another $50 billion be like pissing on Kilauea, it will make the problem worse by removing money that could have (slightly, at least) improved the economy, created some real (non-government) jobs.

    Instead, it will damage more of the "rich" folks - you know, the "over $250,000 income" folks, who actually end up with less after taxes than the folks who don't even _file_ for taxes but get the "earned income credit" (an oxymoron if I ever heard one).

  2. SG,I'm betting we don't have a year. In fact I don't think we have 60 days. One "black swan" event and its all over. The Former USA is dead as Rome or the old USSR. The feds can't get it together to run a rescue for a cat.1 hurricane. The Money is gone, The men who could do something are all corupted. No SG the land that you remember is long gone. We are now in the USSA, and unless Mooch starts craping solid gold, Obamas "new order" won't last long.

    1. Anon - I'm with you. I think it starts before February.


      Somehow, I like the mental image of Mooch sitting on stack of hay laying gold eggs, though...

  3. I've even heard talk that O is considering simply negating our foreign debt. Something like what Argentina did. Of course that will ensure we become Argentina but that may be the plan.

    We're as ready as we can be and stocking more as we can but for the first time in my adult life I am mortally afraid.

    1. There's some sort of international movement going on this. Some leftist published a paper saying that countries should just declare they're not paying debts and reset the world. It gets Greece out of collapse, gets the EU off the ledge, and so on. In their funny little world, where there is no such thing as actual costs to do things and make things, and if they declare countries can't go broke, they can't.

      Yeah, I'm pretty scared, too.

  4. I certainly believe there are plenty of good reasons to be scared, but as SG has written, there is also a chance that those who control the debt will manipulate things sufficiently to keep the can spinning down the road for a while longer.

    If the governments involved (G8 or ?) decide to pretend everything is hunkey-dorey, it will slide by for a while longer. In my totally "economically ill-informed guess", what I think will trigger it is when the first major country decides to pull what wealth it can out of the system, and the rest respond to that - like a run on a bank.