US Debt: $15.2 Trillion
Unfunded liabilities: $117 Trillion
Liability per taxpayer: $1,038,835
Bankruptcy: Not if, but when.
Source: U.S. Debt Clock
James Simpson
Gulag Bound
1/24/2012
Generally speaking, George Soros cannot be trusted with anything he says. He is a calculating liar, and not nearly as smart as people credit him.
However, in the following case I agree with him. But this is not because he is making one of his bogus predictions. I believe him because he is instead saying what he expects to happen due to the destruction he, Obama and the others are willfully wreaking in this country…
…From pages two and three of the Daily Beast article, Soros would appear to show the sociopathic, coldly calculating specifics about the chaos he is fomenting, in part through foundations Tides and Ruckus, emphasis ours.
While Soros, whose new book, Financial Turmoil in Europe and the United States, will be published in early February, is currently focused on Europe, he’s quick to claim that economic and social divisions in the U.S. will deepen, too. He sympathizes with the Occupy movement, which articulates a widespread disillusionment with capitalism that he shares. People “have reason to be frustrated and angry” at the cost of rescuing the banking system, a cost largely borne by taxpayers rather than shareholders or bondholders.
Occupy Wall Street “is an inchoate, leaderless manifestation of protest,” but it will grow. It has “put on the agenda issues that the institutional left has failed to put on the agenda for a quarter of a century.” He reaches for analysis, produced by the political blog ThinkProgress.org, that shows how the Occupy movement has pushed issues of unemployment up the agenda of major news organizations, including MSNBC, CNN, and Fox News. It reveals that in one week in July of last year the word “debt” was mentioned more than 7,000 times on major U.S. TV news networks. By October, mentions of the word “debt” had dropped to 398 over the course of a week, while “occupy” was mentioned 1,278 times, “Wall Street” 2,378 times, and “jobs” 2,738 times. You can’t keep a financier away from his metrics.
As anger rises, riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.”…
Read the entire article at Gulag Bound.
