In the Surreal States of America, where most the people believe wealth and prosperity are created out of thin air, why doesn’t the Treasury simply issue a Trillion Dollar bond that the Fed can buy with its infinite amount of digital money? One ObamaBond could be issued each year to pay for one year of Obamacare. As the interest comes due, the Treasury can simply pay it with ObamaInterest. Fortunately, there is very little.
My intent is not to mock or trash the USA. We simply must identify and acknowledge we have a problem before we can fix it. The problem is with the people in govt, and not the people that pay their salaries (assuming it’s a complacency issue). The first problem to recognize is that since 2000 we have been seriously headed in the wrong direction. The spending, debt, corruption, and abuse of power problems have been building for decades. However, when these problems produced the first real test after the dot.com bust, we failed miserably. The govt interventions since 2001 to mask the problems have only compounded them.
For example, since 2000, incomes are down 6-9%, and if you include the rise in sales and property taxes, the average American has been losing ground even faster. According to a Canadian public policy think-tank, the US has dropped 13 spots since 1995, to #17 in their “Economic Freedom of the World” report. The report blames the slippage on “overspending, weakening rule of law, and regulatory overkill on the part of the US government.”
If we don’t change course fast, the reasons above are why capital will flee and our rights will continue to be trashed. On the current course, our ranking will drop further as govt ramps up its money confiscation tactics to feed the beast.
Below is the Top 20 “economically free” countries.
The western countries that rank ahead of us, for example Australia, UK, and Canada are also moving in the wrong direction for similar reasons, as highlighted by this Australian Senator. It is the self-serving political class, with access to what they think is unlimited debt from the Fed/Treasury, that is destroying this country. All the establishment MUST go in 2014 to avert total chaos.
(Since Mexico is #94, tied with Thailand, there will always be some people who believe the US is the best path to prosperity).
|Hong Kong 1|
|New Zealand 3|
|United Arab Emirates 5|
|United Kingdom 12|
|United States 17|