Clubber, I don't know whether to laugh or cry?!?! I think to some degree you are correct! Will it be sooner than 16 months? I think BLSH and you have the right idea - this isn't going to end "pretty!" For those schleps (sic) who follow the MSM (whether it leans "left" or "right") they are sadly mistaken!!! I do know this...this fantasy world WILL END...those unprepared will perish...whether slowly or quickly...I don't know! -gastropod
It is mind boggling that the government is trying to give more power to the FRB. They are the primary source of the boom and bust cycle, and never ending bailouts. We will be looking at a "1984" type society if we keep giving these scumbags more power, all in the name of "protecting the taxpayer". Any more protection, and we will be in the bottom of a slaveship.
BlSh, What do you want inscribed on your tombstone? PS: Just to be clear this is all in good fun. No threat intended.
It's truly okay. I'm not easily offended, despite my penchant for standing firm on my positions, and even engaging in hand to hand combat when challenged inappropriately. On my tombstone....hmmm. "Some labeled him pessimistic, but history deems him forever a realist."
Brilliant Idea. You are making some assumptions though. You think that for a family of 4, $5256 is a small amount each year. Guess again. There are tens of millions of people who just can not pay. So, that $3.6 has to be revised to $5 per person at the very least, so $7300 per year. Now that is what the cost is for sending 2 kids to a nice private school in many nice suburbs. Even after squeezing this money from the people, we will have that $2T, but that is just the deficit from one year, who will pay for the accumulated deficit? Who will pay for the Taxes now for this $2T and for those $12T that is already accumulated. And the money that people will give in Taxes, will squeeze the economy since people will not be spending that 7K per household for 5 long years. meanwhile, there will be even bigger deficit next year...