U.S. Taxpayers: The Few. The Proud. The Unprofitable.
by The Mogambo Guru
I keep looking
at the $1.5 trillion increase in the national debt in the last 12
months, due to the Congress deficit-spending and the Federal Reserve
creating the monstrous amounts of money and credit so that somebody
could end up buying all that Treasury debt, and then I keep looking
at the measly 100 million private-sector jobs that can show a profit
by their labors, and thus the only ones who can pay taxes out of
profits, instead of being government jobs or taxpayers-paid jobs
that cant and dont.
So I keep punching
those numbers into my calculator and I must keep screwing it all
up because it comes out to the government spending $15,000 for everybody
that has a profit-making job! And this was all before the economic
stimulus package passed by Congress! Yikes!
At least when
I am drunk, I can understand why I dont understand how this
could work out, but I am stone-cold sober right now and I STILL
dont understand how in the hell all of those people can each
possibly MAKE another $15,000 in profit for themselves and their
employers! This is insane! This is beyond insane!
At this point,
I am raving and hysterical, and although I am screaming at the top
of my lungs in outrage, I am actually saying, And it goes
up to $50,000 each in the next year! Were soooOOooo freaking
reminds me of that time when I was desperately experimenting with
my medications and various intoxicants in varying commingled amounts
to try and stop being in Mogambo Panic Mode (MPM) about what the
Federal Reserve and the Congress are doing to us, and then maybe
I could get some sleep, blissful, peaceful sleep, or at least stop
my trigger finger from shaking so damned much.
all of the permutations of dosage eventually had the same two results;
for one, I get weirder and weirder, and for two, I am still outraged
at the stupidity and despicability of the Federal Reserve in creating
so much money and credit so that the traitorous, corrupt Congress
could spend so much money to change the economy into a bloated,
misshapen, cancerous, government-centric piece of corrupt socialist
trash, bit by bit, year after year, and now (in case you are new
around here and havent heard me bellowing that were
freaking doomed), the federal government is going to deficit-spend
upwards of $2 trillion next year! On top of the $3 trillion it is
already budgeted to spend!
I shout, You should be buying gold, silver and oil with both
of your greedy, grasping hands because we are in case you
aint heard freaking doomed! just to bring everybody
up to speed.
is impressed with my rude outburst, and TheBurningPlatform.com says,
some perspective is in order. If we use $2.5 trillion as the
estimated deficit that means were adding $6.85 billion per
day to the National Debt which, when I divide by the 100 million
private-sector workers in the country, comes to each one of them
carrying another $65.86 a day in debt! Unbelievable!
this sets me off again, but before I can work myself into a Real
Screaming Frenzy (RSF), they note that things have been worse, as,
Government debt as a percentage of GDP was 122% during World
War II, versus only 78% today which kind of calmed me down
since we obviously survived that ordeal.
So I was just
about to use that happy factoid as a handy excuse to celebrate by
ducking out early and maybe grabbing a burger and brew, when they
ominously go on When government debt reaches 110% of GDP next
year, will we be in better or worse position as a nation than we
were in 1945 as the only remaining power in the world?
are many things that scare me in this world, but none is more horrendous
than the short extrapolation that came out a few years after government
debt went from 78% of GDP in one year to 100% the next.
nothing is more soothing than the security of gold, time-tested
for over 4,000 years and going strong!
investing stuff is easy!
Richard Daughty (Mogambo
Guru) is general partner and COO for Smith Consultant Group, serving
the financial and medical communities, and the writer/publisher
of the Mogambo Guru economic newsletter, an avocational exercise
to better heap disrespect on those who desperately deserve it. The
Mogambo Guru is quoted frequently in Barrons, The
Daily Reckoning, and other fine publications.
© 2009 Daily