In response to:

Bang the Socialism Drum Loudly

Boopboopadoo Wrote: May 05, 2012 11:29 PM
Charles, thanks for the great column! I wrote a little dialogue today to have with the president's fictional "Julia," trying to get Julia to think a little about where her future and my future is heading: Well, Julia, Hope you enjoyed Head Start, and all the rest, because payback time is coming. According to a US TREASURY website page, "HISTORY OF THE PUBLIC DEBT", the public debt is $15,692,368,000, and your share and mine runs to $50,000 and change, and is growing by $5,000 a year. See: http://www.treasurydirect.gov/govt/reports/pd/pd_debtposactrpt_0412.pdf Did you learn Algebra, Julia? No? Well I'll run a regression curve for you on the growth of debt since 2006.. The debt-growth curve is looking perpendicular, uh oh!
Boopboopadoo Wrote: May 05, 2012 11:29 PM
Things are really out of control and it is all Bush's fault! But wait, until 2006, when the Dems won both houses, public debt was $8 trillion. It is now $15 trillion. Good work, Dems!

Julia, the money the president spent on you was borrowed from China, Japan and Saudi Arabia. Right now we are able to pay them the interest, and they kindly roll over the principal.

However, things don't look so good for 10 or 20 years out, when the Chinese and Japanese and Saudis may object to us stiffing them on interest or even principal. Who will be America's best negotiators? Let's send the crack Obama team that pummelled GM's feckless secured creditors down to 10 cents on the dollar.

Boopboopadoo Wrote: May 05, 2012 11:30 PM
Let's assume our negotiators fail. Our creditors want 100 cents on the dollar. What if our creditors force us into austerity? Think Greece and the EU troika. Could be unpleasant. Google: "Retired Greek pharmacist commits suicide". for over a million hits. Mr. Dimitris Christoulas' suicide note said he refused to root in a garbage dump for food.

Julia, since we elect grown-ups, we should give them a chance to prevent this mess from happening, But, just in case we run short on money to pay China, Japan, and Saudi Arabia, what might they settle for instead of the cash? Property: We have Hawaii and Alaska, plus the military bases across the Pacific!
Boopboopadoo Wrote: May 05, 2012 11:30 PM
! Minerals? Wahoo - We could offer up our coal and oil rights in lieu of cash! Not enough? Well, we have brainy people. They want workers, serfs? Well, OK, what ages and how many?

This is the way the world ends
Not with a bang but with a whimper
-T.S. Eliot, 1925

I'm not sure how the world will end, but more and more, it looks like the America I was born in could indeed end in a self-induced whimper. The last breath of greatness was forced out of our lifeless body after heading down a path that was always ridiculous but for some reason gathered the adulation of people too young to know better and too old to care anymore.

Of course I'm looking ahead to a possible end of the road that would begin with...

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