Friday, April 29, 2011

PRINTOCCHIO « The Burning Platform

April 15 was tax day. It's going to take approximately two months for the feds to burn through the receipts, then the deficit takes off like a rocket. No one is going to buy US Debt, except the Fed. So the earliest the wheels come off is the middle of June, unless some other black swan event happens. it's possible extend and pretend can extend a little longer. The Ben may have put off a depression by guaranteeing the collapse of western civilization. It's a good thing we spend more money on defense than all other nations in the world combined, because that's how this plays out. Ben's plan works if every other nation in the world capitulates to the dollar. But even all of these are a smoke screen.

The real cause of the US economic problems are simple. First is the amount of GDP flowing to the top 1% of households, and the second is the level of taxes corporations pay compared to individuals. These two issues are readily fixed if the US Congress would do their jobs. Without fixing these, there's no recovery.

PRINTOCCHIO « The Burning Platform

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