David Hamilton alerted me to this article, which weighs in at a succinct yet powerful 969 words.
There is no lack of precedent for what Tim Haydon is predicting. At the local level, New York City went through just such a financial failure during the mid-1970s. WASP golden boy Mayor John Lindsay was elected in 1965, in a city that had virtual full employment and an economy that was going great guns. He then gutted the economy, and politically destroyed the city, as well. Despite the political genius of Rudy Giuliani, the city has never recovered.
Lindsay deliberately, radically reduced the proportion of New Yorkers who worked for a living, while jacking up taxes, and massively increasing spending.
Liberal Republican WASP Gov. Nelson Rockefeller had presided over a huge increase in welfare payments. Lindsay, in turn, led a welfare revolution. Through his Jewish communist welfare commissioner, Mitchell “Come and Get It” Ginsberg, Lindsay got unwed black mothers to quit their jobs, and go on welfare. Thus did the rolls increase from 565,000 to 1,165,000 (see the writings of Jewish neo-con historian Fred Siegel, especially The Future Already Happened Here; Siegel has also posted a great many of his brilliant articles and lectures online). The unwed black mothers, in turn, deliberately had a baby boom, at white taxpayers’ expense, in order to stick it to whitey, and raised their children to be violent racists.
(New York blacks had already begun waging a race war on whites, at least two years prior to Lindsay’s election.)
Lindsay spent so much, so fast, while gutting the tax base, that he was forced to take on long-term debt. When he was eventually unable to make payments even on the interest, he took on wildly expensive, short-term debt. Not long after he left office, the city defaulted on its short-term debt payments.
However, that was a city within a state within a nation. The State of New York took over the city’s finances through “MAC,” the Municipal Assistance Control Board, which was run by the brilliant, tightfisted, liberal Jewish banker Felix Rohatyn. Rohatyn saved New York City’s fisc.
For better or worse, there is no person or institution that can bail out the federal government.
As sober as Tim Haydon’s article is, The British Resistance is not a sober blog. It is a “14 words” site. At the top, one reads, “We must secure the existence of our people and a future for white children.”
Taken at face value, there is nothing objectionable about those words. After all, every race has a right to exist, and at present, an extremely powerful, worldwide movement seeks to annihilate the white race.
Unfortunately, the 14 words were formulated by neo-Nazi/white supremacist/whatever terrorist David Lane (1938-2007), of The Order, who was the getaway driver on the June 18, 1984 murder of liberal Jewish talk radio host, Alan Berg (1934-1984).
Lane and his supporters have always supported finishing the job that Hitler started.
Lane died of an epileptic seizure in federal prison on May 28, 2007.
Accordingly, the commenters at The British Resistance uniformly blame Jews for everything that is wrong with the world, and think The Eternal Jew is hiding under their beds. (That is why I emphasized above that Lindsay and Rockefeller were WASPs, and Rohatyn and Siegel were Jews.) I read them the Riot Act, for what it’s worth, and the editors were gracious enough to post my comment.
With that said, there is no delusional, genocidal anti-Semitism to be found in Haydon’s article, and to my knowledge, its economics are dead-on.
The Fiscal Cliff and the End of the USA
By Tim Haydon
September 15, 2012
The British Resistance
The Fiscal Cliff
The fiscal cliff is the unfortunate conjunction of several measures on a single date: New Year’s Day 2013. These measures involve the greatest increase in US taxes in history on the one hand and the greatest a reduction in history in Federal spending on the other.
Taken together they will suck enormous amounts of money out of the US economy ($1.6 trillions by some estimates) in an effort to bring down the annual budget Deficit. This has been clocking up the National Debt at a staggering rate of up to $1.5-1.65 trillions annually from $1 trillion only a couple of decades ago to over $16 trillions today. This compares to a total annual tax take of around $2 trillions.
An incredible near 40% of everything the US government spends is borrowed money….
Read the whole thing.
Anyone that has ever had a credit card knows that living off of your credit cared is not sustainable. Sure, you can request a higher credit limit, and you can get away with making minimum payments for a time, but eventually, you have to pay off the entire thing.
ReplyDeleteWhat happens if you don't? Well, your credit rating goes down, your interest rate goes up and ultimately, you have to make severe cuts to your spending or you will be forced to declare bankruptcy. It's that simple.
This is where the USA is heading. $16,000,000,000,000 is not a small amount of debt. There is no possible way the US will ever pay it off. I don't even think it's possible to stabilize this debt at this point.
America is essentially at the mercy of it's creditors and one day, those debts are going to be collected.
There are only 2 results that are likely in this scenario. First, America will be sold off piece by piece to foreigners (which is already happening to some degree),or the American dollar will have to be devalued so far that we will be lucky if it will be worth one cent on the dollar.
Neither option is desirable, but the choice between the two is inevitable. Another four years of Obama will just compound the problem with more debt. Romney may be more desirable, but sadly there is really very little he could do to stop it-but at least he would likely spend less and help the general economy more than Obama.
Unfortunately, the world runs on debt. I haven't done the research, but I get the feeling that if you add up all the debt the world has (countries and individual debt from people), that it would actually add up to more than all the assets of the world.
Several economies have failed in Europe already, and have been bailed out. This is just a band-aid solution as we all know. It is a sign that the US economy is not immune to collapse. Who will bail America out? Who will bail the world out when the entire world economy collapses?
Everything in the universe strives for balance. When people live well beyond their means, and countries spend massive sums on luxuries and entitlements that it can't afford, it will balance itself out. The economy will collapse, and people will no longer have luxuries and will have to live a more basic, sustainable lifestyle.