SPONTANEOUS COMBUSTION MORE LIKELY THAN USA PAYING OFF DEBTS

According to this article submitted by Simon Black to ‘Zero Hedge’, “Paying Down The Debt Is Now Almost Mathematically Impossible” Based on his analysis he has concluded that,”Default has become the only option”.

The purpose of his study was to try and determine if it could be remotely possible for the USA to “grow” its way out of the stellar debt level the politicians have obligated the nation’s tax payers with. The conclusion of the study according to Simon Black; “SPONTANEOUS COMBUSTION IS MORE LIKELY THAN THE UNITED STATES PAYING OFF ITS DEBTS”

FLAMING DOLLAR BILLS Even if by some “magic” there is NO New Debt added to the existing US Treasury’s balance sheet in the future (ha), the deficit trend still expands into higher and larger debt/deficits, due to what is already on the books, due to all the “mandatory spending and debt service spending” embedded in the books.

The study shows that the only way the TREND of larger and larger deficits can be ‘reversed’ is for the US economy to reach and maintain a 6%+ GDP growth rate as far as the eye can see. Once again “Spontaneous Combustion” is more likely than this possibility”

The Govt’ will want to “inflate away the debt”, they only focus on the price of the ‘widget/unit’, not the volume increase of ‘widget/unit’ production. All of the publicly available numbers point to the same thing, ‘inevitable default’.

For those middle class families that have managed to responsibly ‘save’ money over the years, the stealth “Ghost Tax” known as inflation is a killer to your wealth. Inflation erodes quality of life, and of all the methods that will be used to ‘deal’ with the nation’s fiscal nightmares, unleashing Inflation is probably the “El-ites” most preferred outcome.

According to Mr. Black, “This is not about fear, or about panic, it’s about truth, facts, and the numbers”.

ANDREW JACKSON Mr. Black starts his study; “Exactly 199 years ago, in 1815, a “temporary” committee was established in the US Senate called the Committee on Finance and Uniform National Currency”.

And, as if Mr. Black’s study and conclusions regarding the national debt and future entitlements were not sobering enough, they don’t even include the most recent “budget” deal (so disappointing, in so many ways). To us one of the most dramatic things in the budget was the revelation that congress will now commit the US Treasury (tax payers) to backstop the banks and financial institutions in their “derivative debt holdings”. Estimated to be more than 304 TRILLION Dollars (more than 20 times the entire GDP of every country on earth combined OMG!).

We encourage you to take the time to read Mr. Black’s study and watch the video that goes with it to get the full understanding of the what and how he put his study together.  Time to serious contemplate what all of this is going to mean to each and everyone of us. “This is not a drill”.

(CLICK HERE) to read the entire source article.

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