China owns 24% of America's liabilities.
China has a billion more people than America.
Do the math, it ain't pretty.
Just finished an article in TIME. And while the writer characterizes FDR with astounding applause, he fails to mention the horrific acceptance of the deficit, which yes dates back to 1700, but grew significantly with the inception of " The New Deal."
Pondering the deficit, while from a financial standpoint (and those who know how to balance a checkbook, or god forbid understand a balance sheet), its implications are frightening, yet even to us aren’t close to debilitating… as far as “Joe” knows the government is visibly handing out “invisible” money, and who cares where it’s coming from? Or did Obama lose all sense of “where”… just because paper comes from trees, doesn’t mean the trees will back our spending. I think Obama is trying to make "inflation" popular... inflation, a cousin to the word "infection"....
In a society where “citizens” cannot take responsibility for their own actions, spending dollars they don’t have (and aren’t projected to make), on credit they cannot fairly be accounted for? Our only options are threatening to post a link to bank statements on people’s facebook profiles? Along with “photos, hobbies, quotes are also a lovely links to credit scores." And if that somehow goes against our “private rights”, then we might be abandoned with our favorite/most-disturbing theorist... (see below). And, while the “war of terror” didn’t frighten the most retarded of liberal pundits, I hate to say it, but a war against our kids and their piggybanks should scare the hell out of all of us...
*** The personal “Auna” solution would be highlight the “fun” in investments… this is where my great belief that while mutual funds are titillating (kidding)... Seriously, our banks should have VC booths set up ... Some of our money could be allocated to investing in other people? Sort of like Wall Street minus SEC on a smaller scale?
Why does that sound familiar? I’m thinking Sweden?
An excerpt taken from the FDR TIMES article (our of context it might not make sense), but Obama needs to answer how we’ll stimulate the economy while being the consumer-hungry economy we are…
“Next came tax. Instead of reversing Hoover’s tax-hike error, Roosevelt compounded it by raising taxes again and again. His treasury also cobbled together new businesses taxes. The same caution that had led banks to accumulate reserves during the worst of the downturn had moved corporations to put aside extra cash instead of using it to expand. Roosevelt, angered that firms were not spending to stimulate the economy, retaliated with an undistributed-profits tax on top of ordinary corporate taxes. Taken aback, observers accused him of ‘breaking the nest egg’.”
Revisiting our dear friend (and foe) ethos, I’m curious how to sculpt an argument, which will address not only what the deficit will do to our children, but somehow quantify through tangible scenarios. Is that even possible? Not what the deficit going to do to our kids, or grandchildren… and not from their checkbooks, or student loans, but how exactly that affects us through examples that can be easily understood, not by numbers, but the honest repercussions of losing our country to ourselves.
Here is how I envision a metaphor… A tennis match. We’re at the US Open and we’re the predicted champions, year after year we take home the gold. But instead of practicing our serve, it is far more exhilarating to find practice partners (Mexico/Canada). Killing opponents with our overheads, backhands, and volleys, (Iraq), but through whatever means we can justify (tanks, bombs, first-aid to Africa), we refuse to practice our serve (self-awareness/responsibility). And at the end, we lose the match.
Too many defaults later- we’ve run out of second chances, and we’ve run out of ways to win.
While we aren’t afraid to dip into international political, ideological, and ethical stratosphere, we’ll let them (China) eventually own our debt? Until our country files a Chapter 11. The country needs to go on a freaking diet. Rid of our adipose tissue, addiction to trash television (hell, let’s forgo porn), and habitual trips to the shopping mall.
A scenario even the shrewdest of journalists are too afraid to take seriously.
So little me is thinking… a campaign argued through numbers would be so difficult to capture attention (yes, even in Vegas (where my friend is running for Congress)), and so maybe a way to get people to pay attention to date, is illustrate the unfathomable scenarios, which leads me back to Machiavelli and the Prince. Is fear more powerful? Obama is frustrating, while inspiration is beautiful and tastes yummy, and offers the laziest of Americans warm and fuzzy feelings, pushing aside duty and responsibility, for the future to do lists… Let’s face it – and I can vouch as business development – it is wayyyy more fun to start stuff, than clean up messes.
So all this BS leads us to believe in a greater tomorrow, but sure isn’t helping us achieve that “great tomorrow,” today. Besides isn’t that Oprah’s job? Entertainers and priests, etc. Sure let’s do a check-up every once in awhile on our president, but it isn’t policy-makers beaming smiles that are going to reinvigorate the work ethic of the American spiraling into debt and despair via videogames and McDonalds.
Nope, monopoly money won’t be a national currency this time.
So there you go: Paint a pretty (sad/scary) picture of a future full of debt – and this time there isn’t an American government to bail anyone out. Sure, Japan can bail us out, or hell let’s give India a shot (they've been picking up the phone long enough), but at the end of the day would we rather save a little more, spend a little less or turn to the rest of the world for help, when for so many years we've boasted our capitalistic economy?” It isn’t so black and white. But everything eventually is black and white – when you’ve hit rock bottom. There is only one option. Seeking help, and unless the rock we’ve landed on is solid diamond, we’re screwed.
Obama isn't A Bad Guy:
Enough of my Obama bashing, I do have some respect for the guy- it appears that he has a healthy marriage. What is it with charismatic democrats (or politicians in general) cheating on their wives? Lately the media has uncovered affair after affair, governor after senator caught red-handed, in some intern/secretary/aid’s panties. Seriously, half of why I’d vote Romney is his odds cheating are nearly zip. FDR lost my respect purely for his outlandish affairs.
The only way to come out on top - isn't to cheat the system...
