It's all done but the crying

Up is down and down is up. At least that’s the way I’ve been watching things happen lately. I look at the clusterfuck that Europe has become, and have to look inward, toward my own country, because I see that we’re headed down the same road; debt serfdom. The European leaders have decided after much deliberation and wringing of hands, that creating imaginary money [leverage] and giving it to deeply indebted nations is the solution for all that ails them. They have also unilaterally declared that all those who hold Greek sovereign debt have “volunteered” to take a 50% ass beating in order to “participate” in the Greek rescue. Sound like bullshit to you? I thought so.




So now, every single entity that bought these supposedly “safe” investments, will instantaneously be 50% poorer as a result of these actions. There is to be no debt for equity, no extension of payback period. Just a straight up ass beating. Let’s think about this for a minute, because Greece is only the tip of a mighty iceberg, and the ramifications of this going feral in the EU periphery are tremendous and frightening. Greek banks, already fundamentally insolvent, hold a great deal of this debt. This means they must raise an equivalent sum in new capital to replace the lost cash. From what I can gather, Greek banks alone hold over 73 billion dollars of this toxic waste. There are some estimates that go much higher than that, but I used the mid-line number I found on The Economist. The Greek public sector pension fund holds another 25 billion dollars worth, meaning the taxpayers will be on the hook for promised pension payments coming from this [now 12.5 bbn] fund. All in all, it is a very grim picture.



All of the ugliness we’re witnessing over the Greek situation is about to be repeated in Spain, Italy, Portugal and Ireland. When those folks see Greece walk away from their obligations with few repercussions, expect everyone else to demand the same treatment under threat of default and Eurozone exit. In other words, we are about to see the disintegration of the European Union.



Now, look at our own country, the massive debts we have amassed, and tell me how exactly we’re going to pay off 16 trillion in acknowledged debt with so few workers actually paying in to the tax revenue stream. Answer: we won’t. Just like Greece, we’re going to default on this mountain of debt because no elected official has the balls to make the hard choices. The Brotherhood of Darkness is working overtime to suck whatever remains of the wealth held by American Citizens out and in to their own pockets, and so far, it’s working out pretty well for them.



I look at the cost of maintaining our empire and cringe at the thoughts popping up in my head. I look at the behemoth that is DHS and wonder just how in the hell we permitted them to morph in to the single most invasive, constitution ignoring organization in the nation. I look at the subsidized housing giants [black holes would likely be a better description] and wonder how we allowed these behemoths to be subsumed within the sprawling government complex with their debts now guaranteed by the full faith and credit of the taxpaying public.



All of this shit costs money. War costs money. “Security” costs money……even if we never asked for it. When I read about the cuts being debated by the unconstitutional Super Committee, I only see cuts to Medicare, cuts to education, cuts to food stamps and other safety net items. Where are the cuts to the military industrial complex? Where are the withdraw timetables for the two unconstitutional wars, two undeclared wars and one “kinetic military action”?? The military and DHS suck up an incredible amount of total tax receipts yet provide zero tangible benefits. I am not saying we do not need an army, and I am not saying we do not need to do some due diligence at our airports and seaports. What I am saying is that our time as the sole superpower is at an end, and if we do not withdraw from the 750 or so foreign bases we currently support and remove ourselves from the MINA, there is absolutely no hope we can survive as a nation, let alone a superpower.



Those who think change will be achieved peacefully are disillusioned. Our police state will align itself with the government and put down any movement with force. Our police have become a tactically trained and equipped army within the State and will do as they are told.



I believe it will take the complete economic collapse of the United States to effect any real change. I further believe that until it becomes impossible to concentrate incredible wealth among just a few people, we will never have justice, because it currently only goes to the highest bidder with the deepest pockets. Just ask any of the millions of folks languishing in prison because they were found with a lid of pot and a couple of Quaaludes.



I am sad today. I thought Europe was smart enough to kick Greece to the curb and let her default. It is not to be. I am sad because the once mighty U.S.A. is going down the same road, led to her demise by the same Keynseian fucktards as Europe.



I weep for my daughter and the dystopian future I fear she has in store for her.