I keep hearing politicians, the media and pretty much everyone except the unions and government employees, telling me that America is going over the edge of the cliff and we are on the verge of passing the point of no return. What was basically a fiscal problem, will unfortunately transform itself into a social problem and become all too real for almost all Americans. The problem here is, in my opinion, it's too late to fix anything other than put a band-aid on a gunshot wound.
Do the math. Even if we shut down the entire government today, each and every man, woman and child in America currently owes China, Japan the Middle East, Europe and even little old ladies, $200,000. If you don't include state/local debt or the next ten years worth of already-borrowed money, it's probably half that. Without cherry-picking though, that means for myself and my two children, I currently owe $600,000 and I don't even have a job anymore, ha ha ha. Sorry for laughing, it's just easier than crying. My point is, we can all argue all we want. It just may be too late, as they recently found out in Greece the other day. The wonderful experiment called the United States of America is in jeopardy of being over, at least it will be as soon as China calls in their loans or stops buying our debt. And if you delve past the media's soundbites, you'll see that it could happen any day now.
Does anyone know what happens when China and everyone else calls in their loans? Yep, complete shutdown - no fuel, no food, no water, no police. But what happens then? My colorful imagination points me in two possible directions. Either we take our own advice and the advice many are giving Greece today and lop off a couple parts of the country and have a fire sale to pay off our debts. Or even worse, our never-greedy or power-hungry 'representatives' could negotiate some long-term financial arrangement, similar to the way Mayor Daley here in Chicago has sold off half our city to foreign interests, and in exchange for a handsome negotiating fee, the big banksters could arrange so that we could take the next 500 years to pay off our debt. But in return, China would want.... Fill in your own nightmare.
All we can do in the meantime is hope that China keeps loaning us billions after billions, week after week. Because if not, everything shuts down, and it shuts down within hours, not weeks or months. In closing, I go back to my original question, Is the experiment called America over? If not, someone point out whose giving me the $600,000 to pay my family's part of the debt. Something tells me I'm not going to believe it until I see the cold hard cash in my cold dead hand. Sorry, that's my other hand. I'm waiting for the Supreme Court to rule on the 2nd Amendment next.
Joe Sixpack and the Sixpack Posse