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PERRIN LOVETT

~ Fiction, Freedom, and The West

PERRIN LOVETT

Tag Archives: disaster

B-b-b-b but We Owe It to Ourselves…

27 Wednesday Jun 2018

Posted by perrinlovett in Legal/Political Columns

≈ 1 Comment

Tags

CBO, debt, disaster, economy, fuzzy math, government

The CBO, even with obscured numbers, sounds a warning bell on US debt load: Roll Call Story, here, in its entirety for ease of access:

Debt as a share of the United States economy is on track to blow through the previous World War II-era record within two decades and keep rising from there, the Congressional Budget Office said in its annual long-term budget report.

Generally assuming no change in current laws, growing budget deficits would push debt held by the public from the current level of 78 percent of the economy to almost 100 percent of gross domestic product by 2028, and to 152 percent of GDP by 2048, according to the agency.

“That amount would be the highest in the nation’s history by far,” said the report, which estimates the growth of spending and revenue over the next three decades as a share of the economy. The current record for debt as a share of GDP was set in 1946 when it hit 106 percent. Debt as a share of the economy is projected to exceed that level in fiscal 2034 under the latest projections, one year earlier than in last year’s long-term budget outlook.

CBO highlighted the role that rising interest costs will have, along with the growth of Social Security and Medicare.

In a statement distributed with the report, CBO Director Keith Hall said that by 2048, “as interest rates rise from their currently low levels and as debt accumulates, the federal government’s net interest costs are projected to more than double as a percentage of GDP and to reach record levels.”

Hall said interest costs would equal spending for Social Security, currently the largest federal program, by 2048.

CBO has long warned that rising debt poses a risk to the economy, and Hall made the point again Tuesday.

“The prospect of large and growing debt poses substantial risks for the nation and presents policymakers with significant challenges,” he said in the statement.

Under current law, revenue is projected to be relatively flat over the next few years in relation to GDP, rise slowly and then jump in 2026 after certain tax cuts expire.

“After 2026, revenues are projected to keep rising in relation to the size of economy — though not to keep pace with spending growth — mostly because of increases in individual income tax receipts,” Hall said.

Compared to last year’s report, CBO’s projections of debt growth are higher through 2041 and lower thereafter. The agency projects debt as a share of GDP would be 3 percentage points lower in 2047 than projected last year. The increase in debt through 2041 stems primarily from the tax overhaul, the two-year budget deal and the fiscal 2018 omnibus spending bill, the CBO said.

If Congress extends the individual tax cuts and several other tax provisions that are set to expire at the end of 2025, as many House Republicans want to do, debt would grow even faster, according to the CBO.

Debt held by the public. What, exactly, does that mean? According to the Treasury, it’s: “The Debt Held by the Public is all federal debt held by individuals, corporations, state or local governments, Federal Reserve Banks, foreign governments, and other entities outside the United States Government less Federal Financing Bank securities.”

A refrain from the don’t-worry-about-it nitwits is that… Hold that a second. One notes, for all the dire and calamitous warning, the CBO reports no numerical dollar figures at all. Allow me to post some:

Gross federal government debt: $21.175+ Trillion (as of right now – the thing grows rapidly) (see: US Debt Clock);

Debt Held By the Public: call it $16 Trillion right now (St. Louis Fed.); and

US GDP (2018 est.): $18.5-ish Trillion (World Bank).

Okay, with that out of the way, a variety of idiots usually shrug their shoulders and murmur something like, “But, we owe it to ourselves. So what?” Rose-colored glasses are useless to the blind. Or the stupid.

One, with math skills not acquired in a Detroit public “school,” will notice that the Gross Debt already exceeds the GDP by  14+%. That’s bad. When, soon, and sooner than 2028, the Public Debt exceeds the GDP, things will be worse. We shall ignore TOTAL debt (all sources), unfunded liabilities, and future derivative betting bailouts as such surpasses the ridiculous for the purely hilarious.

Gross US Debt is a combination of Public Debt and Intragovernmental Debt: $21.175 T – $16.5 T = $4.675 T. Who owes what to whom, now? In a way, with the Intra Debt, we do owe it to ourselves. This assumes “we” own and control the government. “We” do not. But, if we did, or if we pretend we do, then there’s a little truth to it. And a little mystery. If we really owe it to ourselves, then why not cancel and dismiss it? We’d be in the same position, right? And, hey!, if we are the public, and the public holds the rest, then why not get rid of that too?

Because we are not the public. Individuals maybe. But notice that there’s also corporations, foreigners, other entities, and the private Federal Reserve. Therein lies the rub. The Fed is the reason all this debt (by any name) floats around. It’s how they make (a very, very, very good) living, by adding zeros in a computer. This simple trick allows political lowlifes easy money to buy votes and, thus, hold power. They, in turn, are happy to allow the banksters to grift away.

You’re not paying this off as that’s not the purpose. It’s not owed to you and, odds are, a few bonds aside, you don’t own any of it. But you will be on the hook. Some more figures:

Total Debt per person within the US:

Forget it. It’s more than you could pay however you slice it. And it’s meaningless. The point isn’t repayment. The point is enslavement. The entire US economy and most of the world is now absorbed into this system of fake, debt-based funny money. None of it is real, literally just being zeros in computers for me to recycle here. The elites make a profit and hold power based on lies and nothingness. The only thing real about it is the real labor stolen from you to make interest payments for the system.

If you’re an average American worker and taxpayer, then you devote a considerable part of your life and time to paying: taxes, a mortgage, and maybe other debts (car, education, cred cards). All of these payments are for alleged cash which never existed and never will. A grand and sick illusion.

Any money you have left over for living is devalued by the constant inflow of new funny money. See: Gresham’s Law. There’s a reason why the cost of everything keeps going up much faster than any raises you might receive. There’s a reason why people need 30-year mortgages. Why they need 7-year car loans. Why they finance increasingly useless degrees. Prices are artificially inflated.

The taxes pay for, in this order: welfare, warfare, interest on the debts, more welfare, some other BS, and, somewhere waaaay down the line, maybe a little needful governance.

This is a giant ripoff. In an economy based on real money, things would cost less, people would keep more money, and banksters and pols would have to seek honest work. As the whole system is bullshit and not intended to ever be paid off, the answer is simple. All the debt – all of it at all levels – should be repudiated. Cancel it. Heck, make it illegal to issue debt.

The “owe it to ourselves” crowd has no response to the common sense solution except a horrified resort to scare tactics. “That would crash the economy!” Maybe. For a short time. Then it would recover and improve – for real people. But, no, they’d prefer the long, slow bleeding we currently suffer. It kind of reminds me of the house slave reminding the field hands to keep singing. Enslavement with a smile.

If we really owe ourselves anything, then it’s honest reflection and, then, maybe a little righteous anger.

Or cat videos. A new tattoo. Some “reality” TeeVee. Whatever makes you sing happily.

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Think this was abolished in 1865? Boondocks/YouTube.

Fire On The Mountain: Gatlinburg Burns

30 Wednesday Nov 2016

Posted by perrinlovett in News and Notes

≈ 1 Comment

Tags

disaster, fire, Gatlinburg

They knew it was bad over the weekend and through most of Monday. Residents of Gatlinburg, Sevier County, and surrounding areas had watched wildfires burn all around them. Across several Southern states fires have burned hundreds of thousands of acres this fall.

Then, around 6 P.M. Monday things went from bad to worse as high winds blew embers into town. They rapidly went from worse to nightmare.

A friend of mine in Gatlinburg was at home Monday night. She had watched and photographed the situation all day. Around 8 P.M. firefighters knocked on her door and told her she had to leave immediately. The fire was all around her. She is currently safe in North Carolina, one of more than 14,000 forced to flee at the last minute.

ap_16334151596141

Weather.com.

I don’t recall a fire hitting a town like this in my lifetime. Links to a couple of news sites with pictures:

Daily Mail

Weather.com

Aerial tour

Hundreds of home are gone. Hotels, resorts, schools, churches, cultural centers, tourist attractions, shops, and more are burned to the foundations. Several people are dead, dozens injured. The scenic landscape is changed for a generation.

Rain is falling now in the valleys and firemen and Guardsmen work to contain what remains of the conflagration. Yet the damage done is horrific.

ap_16334660604323

Weather.com.

If you’re looking for a charity to donate to this Christmas, consider the people of Gatlinburg. They need help right now and will be grateful for it. And pray for more rain in the South.

The Perfect Storm?

03 Thursday Dec 2015

Posted by perrinlovett in Legal/Political Columns, News and Notes

≈ Leave a comment

Tags

America, disaster, economy, false flag, Federal Reserve, government, gun control, terrorism, The People, The West, War

Moving on from Paris we now have San Bernardino. No doubt this was an act of terrorism, even if the terrorists lacked official connections. Farooq Saeed and Tashfeen Malik and company brought jihad to a meeting at a center for the disabled. I have a theory.

Farooq worked for the county as a health inspector or something similar. Malik was a likely girlfriend. The center was run by nonprofits. Catholic Social Services is a nonprofit. CSS works hard to import “refugees” into the U.S. some refugees may need the assistance of centers like this one.

Farooq probably had a grudge against someone at the center based on what he considered ill treatment of a refugee or a similar person. He went to the meeting to pick a fight. They kicked him out. Moments later he and his cell members returned armed to the teeth. Murder, murder, murder.

My theory cannot be far off the mark.

The police responded with extraordinary speed and power. Maybe they were prepared for this type of event. Maybe they were waiting on this specific crime to happen.

The national media was ready too. Their initial coverage almost seemed pre-packaged – militia types with assault rifles. Barry, on cue, immediately blamed ordinary Americans and our guns. He hates both.

We have deadly serious problems in this country. Like the rest of the West we’re being overrun by foreign invaders who want to destroy everything in their path. They’re “fleeing” wars cooked up by the government. The government brings them here. The government is waging an indirect war on us.

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Right you are, Barry. Nothing ordinary here. This is a plot. Twitter.

We still have the means to fight back, being the most heavily armed people on earth. The government knows this and sees it as an obstacle. Thus the gun control angle.

Throughout history states have used false flag events to seize power. Or, they make good use of “natural” tragedy for the same purpose.

Some Americans are awake. Others are hiding in safe rooms, playing Call of Duty, obsessing over filthy celebrity trash, or cheering on the political theater. The gov counts on these weapons of mass distraction.

The wars, invasion, and gun/culture control are like a hurricane bearing down on us. A second storm of equal magnitude is converging.

The government’s wars and social engineering/ destruction programs are expensive. $674 Billion in a day expensive. The necessary funny money and control apparatus is wrecking the economy.

Those in the know, regardless of position, are sounding the alarms. Gerald Celente, Citi Group, and High Priestess Yellen have sounded off just this week. Yellen’s interest rate announcement yesterday was as surprising as she is attractive. The Fed is trapped in its own bubble and out of options. A rate hike would crash (into the bedrock) the economy today, not just next year per schedule.

Like the jihad the financial woes are global. Greeks will soon have to declare valuable assets when preparing tax returns. That’s so their belongings can be stolen to help the Banksters help the government help the robbery victims. It could happen anywhere. It could happen here and probably will – again. We saw it previously in the 1930s.

The storm collision is tracking hard and fast. Best move the Andrea Gail to safe harbor if possible.

Perrin Lovett

perrinlovett@gmail.com

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