Anthony Martin
Conservative Examiner
8/3/2011
In a stunning epiphany that caught even his staunchest supporters by surprise, radio talk show host Rush Limbaugh stated yesterday that “everything we’ve had for the last 20 years is fake.”
Rush proceeded to describe his own journey of denial concerning the debt and said that the recent national debate over raising the debt ceiling has caused him to realize the cold, hard facts–America, the government, business, and citizens, ALL of us–have been living on borrowed money for the past 20 years.
And it is only getting worse…
Here are Rush’s words from the transcripts of show:
Most people have debt they can’t afford. Our government certainly is in debt that it can’t afford. So really all this is fake. So much of this is phony. I mean, in material terms it’s real, it’s there, you go out and touch it. All those television sets that people have are real, and all those cars they own are real and gasoline in them, and they drive them.
They’re real, but the money that bought those cars is not real. It’s a very, to me, scary situation — and now we’re just piling more fakery on top of more fakery, with Obama targeting the only place left in this country where the people who have money actually have it. That’s his euphemism, his corporate jet owners, whatever else. But when you realize that it’s not real — and, in an unusual twist here, I’m not explaining this as well as I should be or could, ’cause I see Snerdley in there frowning. Normally when I’m making perfect sense, Snerdley is nodding and smiling, but he’s in there frowning; can’t figure out what I’m trying to say. Look at all of the pensions, all of the health care. We don’t have the money to pay any of that.
There’s a lot that isn’t real. People think that they have a pension that pays them X for the rest of their lives. We’re living in a Ponzi scheme. How real is a Ponzi scheme? At some point the reality of the Ponzi scheme hits, and Bernie Madoff says, “Guess what? I no longer can continue to pay people what they want.” We’re living in a Ponzi scheme. We’re living in several Ponzi schemes. BREAK TRANSCRIPT
RUSH: I really wish that I had a better way of explaining what I mean when I say that none of this is real, that our standard of living isn’t real, that the prosperity in the country isn’t real. Oh, yeah, people have those cars and people have the houses, and they have their possessions, they have the outward trappings. But nobody, very few people actually have the money those things cost. Very few. Our government certainly can’t afford anything it’s doing. We do not have the money…
…Karl Denninger, economic and market analyst who is the guru behind ‘The Market Ticker,’ was quick to assert that Rush finally gets it. The things that the U.S. government has been doing ever since Bill Clinton took office in 1992 will not work and cannot work.
The so-called ‘Clinton boom’ years during the 1990s was fake. Much of it was driven by the government pressuring mortgage lenders to allow anyone to buy a home whether they could afford it or not. And the markets were propped up by the false notion that new Internet businesses were the wave of the future, only to find that with the new millennium most of them crashed. These were also the years of Enron, HealthSouth, and a host of other large corporations that were caught cooking the books, making it appear as it their stocks were worth much more than they actually were, which of course, sent the markets skyrocketing.
But it was all fake…
Please read the complete article at the Conservative Examiner.
Related: A chart you must, MUST see, WARNING: Do not show this chart to a liberal (unless wearing headgear to protect you from a cranium exploding into high-velocity brain-shrapnel)
H/T Fausta Wertz on Facebook
Update: A video at Verum Serum, Boston University Econ Professor Says Debt Deal Doesn’t Touch the Real Problem. “A pretty good interview with BU economics professor Laurence Kotlikoff. I’ve honestly never heard of him before but, based on this interview, Joe Biden may want to put him on a watch list of some kind. The clip is about 13 minutes in all, but I’m jumping ahead to the last 4 minutes which is pretty sobering…”
Update 2: The Secret of Socialism:
…What is socialism, whether Bolshevik, Menshevik, national, Maoist, social democrat, liberal, or whatever flavor you can name? A set of economic principles? Political values? An attitude? Don’t head off to a dictionary or Google-land for this.
I commend to you Solzhenitsyn’s “Lenin In Zurich“, a book I read years ago. It is fiction, yet invaluable to the understanding of the last century, and the next. I am about to share with you a secret known to few: Lenin, Stalin, Hitler, Mussolini, Mao, Deng, Pol Pot, Castro, and Solzhenitsyn himself. And me. And now you.
Socialism does not exist except in the imagination of the true believer and the useful idiot. None of the names I listed believed there was such a thing as socialism. They knew it for what it was: a means of fooling mass numbers of people into following them, and thus achieving power. Political power. Military power. Economic power. Absolute power…
