Thursday, August 8, 2013
As I go into the third day of reviewing the problems of US debt as presented by the book "Bankruptcy 1995" I have only a few loose ideas as to why things did not get as bad as the authors claimed it would. So far I have identified a few variables that they could not foresee that happened and an interesting discovery dealing with Government debt interest rates that fail to make sense. I am sure there will be a few more revelations before I am finished.
But more on that in the next day or two.
I have made another little discovery that I thought I would share today.
For almost 30 years or more the values that the "Golfer in Chief" proclaimed were cherished by the "Bitter Clingers" have been under constant attack and in some cases eroded away to nothing. Conservatives and Flyover country Whites have been ridiculed and besides being called "Bitter Clingers" are labeled just old White guys, outdated, etc.
You get the idea.
However when I really look at the numbers laid out for us as early as 1992 (when the book was written) I notice another trend. Our expenditures for social engineering and entitlement spending were just as bad back then only the credit was easier to get. What we have today is a changing environment and a reduction in the availability of cheap energy and yet the Liberal/Feminist are still clinging to unlimited growth, social spending and outrageous pensions.
So really who are the real "Bitter Clingers" these days?
Detroit loses well over half it's population in a few decades (Notice that would be the early 90's hmmmm) and yet they still cling to cushy pensions and an over sized city employee ratio.
Times have changed my friends. When reading this 20 year old book forewarning us of doom that many might say never happened it is right there in black and white that perhaps it did indeed happen. The effects have just been spread out to others while the one's who benefited kept on going.
Now the end is near I think. Yet instead of adapting many refuse to and scream for more.
Bitter Clingers indeed.
Keep Prepping Everyone!!!