SEE HERE Who guards the guardians? The people who are supposed to keep the government on an economic even keel are about to capitulate, or so at least it appears. The result is predictable and bad because were are on the fast track to economic collapse. It's hard to see how this kind of thing can keep going on very much longer before the inflation kicks up the interest rate on the debt and makes it impossible to service the debt. Then the United States, the largest economy goes into default while the rest of the world is also in financial trouble. Economic and possibly political and social chaos may well follow. We have to get a handle on this stuff before it happens, not let it continue to fester until the result is explosive decompression.
I was at a meeting with Congressman Bob Goodlatte yesterday which showed the magnitude of the problem and the fact that the government doesn't seem willing to deal with it effectively. Now the senate is ready to simply let it go forward and do nothing effective. Will the last one abandoning their financial responsibilities please turn out the lights on their way out?
Tuesday, July 12, 2011
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