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June 1st, 2017 | #1 |
News Bot
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Debt Bomb Continues Its Inexorable Creep Over The Horizon
As liberal democracy fades in the West, it is perhaps the oldest of troubles — money — which will put it in the grave. This will most likely happen just as all of its other ill-considered policies come crashing down upon it, including environmental crises, warfare, diversity race wars, terrorism, infrastructure collapse and a paucity of competence.
We can see this beginning in the tragicomedy of the Chicago pension meltdown: “We are probably approaching that point of impaired ability to function at basic level,” said John Humphrey, the Chicago-based head of credit research for Gurtin Municipal Bond Management, which oversees about $10.1 billion of state and local debt and has steered clear of Illinois. “We’ve already probably passed that point. We haven’t seen this in a modern state before.”As if designed as an exercise for a textbook labeled Why Democracy Sucks, this scenario is comically simple at its core but buried under layers of complex law, politics and economics. (Emphasis on “We haven’t seen this in a modern state before” is mine). Starting with Chicago, famous for its institutionalized corruption, Illinois has been spending itself into a void by promising more in social services than it could reasonably pay for. Its politicians, naturally selected by voters who elect anyone who promises the right benefits, decided this could be handled through a complex series of funds and loans. Illinois is not alone. All across the West governments have chosen to enact expensive social services based on the promise of future revenue. As populations have decreased, it has become clear that these debts can never be paid, and now the bloated voters and canny politicians are importing vast numbers of third world people to make up a larger tax base. However, as Chicago shows us, this has not worked. Let us inspect the ethnic data fo ----- snip ----- read full article at source: http://www.amerika.org/politics/debt...r-the-horizon/ |
June 3rd, 2017 | #2 |
Senior Member
Join Date: Nov 2012
Posts: 3,358
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That shows you how inept these people are. Importing low wage turd-worlders ADDS to the debt..........and the crime rate.
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