By Old Muck About (in a fit of temper!)
note: all emphasis made by the author..
Yesterday, I got a “free” copy of Bloomberg’s Business Week magazine.. Of course, it also included a come-on to subscribe, which, after thinking about it 10 milliseconds, I tossed in the trash.
Then I sat down to look it over. It curdled my guts with the initial column titled “Opening Remarks”. You can’t get much closer to the front of a magazine than that.
In this totally asinine jumble of words, Mario Draghi, the Central Banker for the ECB was praised for saving the Euro by promising to buy unlimited sovereign debt from any and all bankrupt, deadbeat European countries.
The piece went on to say that the jawboning was perfectly timed so that the “markets” (and I am no longer sure who or what makes up the “markets” anymore) were so impressed by this wonderful, economically sound commitment that they rallied (as they have in our own poor benighted U.S.A.) and, to date, no bankrupt country debt has had to be purchased – yet.
Key word, “yet”.
So, short one sentence that says, “Europe isn’t out of the woods by any means.”, Bloomberg has decided that Draghi and the ECB are just the ticket to eternal solvency by purchasing bankrupt countries debt.
Ring a bell? Kinda like the Fed is doing as I type – buying $85 BILLION dollars of U.S. Treasury debt and various “market based” instruments such as mortgage backed securities, credit default swaps, stocks and who the Hell knows what EACH AND EVERY WEEK 4-EVA……
I’ll give you a hint.. 4-EVA will not last nearly as long as our Fed (and their shills) seems to think it will.
The entire world — including normally sane Switzerland — has initiated a global race to the bottom in the useless and destructive attempt to go deeper in debt and devalue their currency to “grow their economy out of debt” and devalue that currency just a little faster than their trading partners so they can keep some productive capacity going and beggar their neighbor with a little trade.
It’s totally insane and will end very badly. This is not my opinion, by the way, it is mathmatics.
So I threw up all over the first column, tore it out and threw it away, then gingerly turned the page and there lay yet another blurb titled, “How to Resolve the Debt-Ceiling Crises”.
I will spare you the agony of a thorough review and just hit one or two of the low spots contained therein.
First, Bloomberg acknowledges (Ha!) that it is up to Congress to raise the debt ceiling so this country will not default on the $16.4 trillion National Debt. No mention is made of the $200 plus trillion of unfunded debt laying around out there with no way to pay it back except —– the way Bloomberg wants to do it!
Bloomberg next suggests that to eliminate all these pesky problems of “paying” off the deficits and “paying” for ongoing and new spending proposal is as follows:
“Congress should give the White House (i.e. Da Emperor) power over the debt ceiling so the U.S. can avoid a sideshow that threatens the ‘full faith and credit’ pledge made to those who buy U.S. debt”. (Which happens to be mostly the Federal Reserve).
They go on to say:
“So here’s another way to end the fight: tie spending decisions to automatic increases in the debt limit. When Congress passes a budget resolution or spending bill, it should also authorize a concurrent increase in the statutory debt limit to pay for what it’s authorizing.”
“This would have the added benefit of fostering fiscal restraint by linking spending decisions to the Congress that authorizes the money.”
Now please read the above two paragraphs again – only this time, read very slowly for comprehension and keep reading them until you understand that which is being put forth as a “serious” suggestion by a leading establishment magazine on how to solve our debt problems.
These people are
fucking idiots less than well informed who, I’m deathly afraid, actually believe what they are proposing is a worthwhile thing to do! Could it be possible that TPTB (and Bloomberger is certainly one of those) is planting this crap in their tame and completely controlled MSM widely published papers and magazines? Who is their audience? Herds of sheeple so brainless they cannot understand even the simplest economic facts? Surely no one in the financial industry at any level above trashcan emptier would give this garbage any credence. Would they? Are they trying to convince each other with this bullshit?
Perhaps the target audience are politicians and other government drones who truly don’t have a clue of anything economic and must, therefore rely on the likes of this junk magazine and its’ farcical articles to justify their destructive actions.
I’ve only managed to read the first two articles in this piece of shit Bloomberg Business Week and I’m almost afraid to turn to the next page to see what absurdity is regurgitated next.
So I will stop here, allow you to recover from your dose of shock and awe and I will dig further the
garbage magazine after lunch and three or four beers and maybe a nap. Perhaps I can get my mind to cooperate and stop running around in circles screaming, “Idiots, dumbasses, puppets, dog turds!” and other complementary thoughts on the quality of Bloombusted publication and those who actually subscribe to it and believe what’s in it.
Note: The above article was composed by Muck About and The Burning Platform assumes no responsibility for the comments made therein nor the conclusions drawn. Read at your own risk!