The US Is Smoking Crack
2011 Financial Meltdown Fast Approaching
"Despite the best efforts by the American mainstream financial media, the eager PR division of the United States Dollar Ponzi Scheme, to paint the rosiest of rosy pictures for blindly optimistic readers, the stubborn image of a debt-swollen jobless behemoth economy slowly toppling persists. No matter how much U.S. departmental data is primped, polished, and primed, no amount of lipstick is going to transform this fat pig into a princess.
This week’s top harbinger headline points to the fact that the United States is once again bumping its fat head on the ceiling of its spectacularly stratospheric debt ceiling of $14.3 TRILLION dollars. That means an act of congress is once again necessary to lift that limit. The alternative is either a) a revaluation of the U.S. Dollar to reflect the depreciation inherent in Quantitative Sleazing as part of a debt restructuring, or b) default.
Default? Could it be?
Never, according to bright-eyed Harvard educated economists and Forexperts.
“The likelihood of a restructuring of US sovereign debt is zero,” says MF global currency and fixed income analyst Jessica Hoversen. “As for a downgrade, while it’s theoretically possible, it is still extraordinarily unlikely.”
Well that’s one opinion.
The rate at which U.S. debt is growing is well beyond what it could repay, even if the economy were to start growing at 10% per year. That’s because the rate of U.S. debt growth in the last 3 years is well over that figure, and since 2002, the debt has more than doubled.
This is the mathematical certainty that is assiduously kept out the press by accommodating editorial boards."
"Bottom line: The Fed, who capitalizes the treasury by buying treasury bills, now needs to be ‘recapitalized’ by the treasury, who will now write cheques to the Fed, so it can continue to write cheques to the Treasury.
This is no oversimplification – this is reality."
Total insanity.
More insanity.
The More Americans That Go On Food Stamps The More Money JP Morgan Makes
"JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money."
"It turns out that JP Morgan also provides child support debit cards in 15 U.S. states and they also provide unemployment insurance benefit debit cards in seven states.
Apparently states have found that they can save millions of dollars by "outsourcing" the provision of these benefits to big financial firms like JP Morgan.
So what happens if you have a problem with your food stamp debit card?
Well, you call up a JP Morgan service center. When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.
That's right - it turns out that JP Morgan is saving money by "outsourcing" food stamp customer service calls to India."
"Despite the best efforts by the American mainstream financial media, the eager PR division of the United States Dollar Ponzi Scheme, to paint the rosiest of rosy pictures for blindly optimistic readers, the stubborn image of a debt-swollen jobless behemoth economy slowly toppling persists. No matter how much U.S. departmental data is primped, polished, and primed, no amount of lipstick is going to transform this fat pig into a princess.
This week’s top harbinger headline points to the fact that the United States is once again bumping its fat head on the ceiling of its spectacularly stratospheric debt ceiling of $14.3 TRILLION dollars. That means an act of congress is once again necessary to lift that limit. The alternative is either a) a revaluation of the U.S. Dollar to reflect the depreciation inherent in Quantitative Sleazing as part of a debt restructuring, or b) default.
Default? Could it be?
Never, according to bright-eyed Harvard educated economists and Forexperts.
“The likelihood of a restructuring of US sovereign debt is zero,” says MF global currency and fixed income analyst Jessica Hoversen. “As for a downgrade, while it’s theoretically possible, it is still extraordinarily unlikely.”
Well that’s one opinion.
The rate at which U.S. debt is growing is well beyond what it could repay, even if the economy were to start growing at 10% per year. That’s because the rate of U.S. debt growth in the last 3 years is well over that figure, and since 2002, the debt has more than doubled.
This is the mathematical certainty that is assiduously kept out the press by accommodating editorial boards."
"Bottom line: The Fed, who capitalizes the treasury by buying treasury bills, now needs to be ‘recapitalized’ by the treasury, who will now write cheques to the Fed, so it can continue to write cheques to the Treasury.
This is no oversimplification – this is reality."
Total insanity.
More insanity.
The More Americans That Go On Food Stamps The More Money JP Morgan Makes
"JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money."
"It turns out that JP Morgan also provides child support debit cards in 15 U.S. states and they also provide unemployment insurance benefit debit cards in seven states.
Apparently states have found that they can save millions of dollars by "outsourcing" the provision of these benefits to big financial firms like JP Morgan.
So what happens if you have a problem with your food stamp debit card?
Well, you call up a JP Morgan service center. When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.
That's right - it turns out that JP Morgan is saving money by "outsourcing" food stamp customer service calls to India."
posted by nolocontendere at 4:34 AM
2 Comments:
Ha! Pig lipstick reference......extra points!
Always an apt metaphor!
Post a Comment
<< Home