BMEWS
 
Sarah Palin is the reason compasses point North.

calendar   Thursday - August 04, 2011

All Your Stupid Is Belong To Us

Stuck on stupid: if you earn $100 a week but spend $200 a week, and borrow $100 each week at 3%, how long will it take to pay off those loans? Answer: Never ever ever. Duh. Yet this latest “Debt Ceiling” confrontation in DC is being hailed as a great victory. For whom, is what I’m asking?



US Annual Debt Is Now 100% of Gross Domestic Product



The U.S. debt reached 100 percent of gross domestic product after the government’s debt ceiling was lifted, Treasury figures showed Wednesday, according to AFP.

Debt shot up $238 billion immediately after President Obama signed the deficit-reduction bill into law Tuesday to avoid the country’s first-ever default.

The U.S. has been put in the league with highly indebted countries like Italy and Belgium after the new borrowing took public debt to $14.58 trillion from $14.53 trillion.

The last time the debt topped the size of its annual economy was in 1947 during World War II, according to AFP.

Raising the debt ceiling came hours before Treasury would have to default on the country’s loans after the Senate approved the measure. President Obama then signed it into law.

The contentious debate on Capitol Hill rattled Wall Street for more than a week, as the Dow slid for eight straight days before finishing up 29 points Wednesday.

[ huh. I guess AFP is just as stupid as Yahoo News. In their world, WWII was still going on in 1947. For everyone else, it ended in 1945 ]

Whatever. Whoever. I don’t give a damn anymore. We have made the blind leap off of the cliff, and there is no going back. The USA will become a debtor’s nation, a turd world shit hole. Inescapable. There is no going back. We can no longer even begin to pay back any of the principal on the amount we owe. Period.

Live it up now folks. Go buy a fancy car and a high end home entertainment center. Go get a big fat mortgage on a giant house. Don’t worry, the banks will strike a tax deal with the government so you don’t have to pay the money back. But if I were you I’d be filling the trunk of that fancy BMW and all the closets in that house with durable food. The wheat and corn harvests are going to come in poor this year, and that will turn the already snowballing price of food into an avalanche. At the same time your currency becomes worth less and less. All of which will cause the economy to shrink. And don’t worry, there is no way in hell Obamacare will be repealed or even unfunded now.

Robert Mugabe, you ain’t seen nothing yet.

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Posted by Drew458   United States  on 08/04/2011 at 09:33 AM   
Filed Under: • Economics •  
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Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.
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