Weekly News Wrap-Up 7/15/11

By Greg Hunter’s USAWatchdog.com

There are two big debt crises going on now in the world.  First, in Washington D.C., the debt ceiling talks have gotten ugly and have hit an impasse.  I don’t know if Democrats and Republicans will get a deal done in time before the default deadline of August 2nd.  I do know if a deal is not done, Fed Chief Bernanke predicts “calamity” and “chaos” if the U.S. defaults on its debt.  Meanwhile, Europe continues to struggle with its sovereign debt problems with several countries.  The latest bomb to explode is Italy, and this is the biggest of all the so-called PIIGS (Portugal, Ireland Italy, Greece,Spain).  This is unprecedented in human history, and there is reason to worry.  Gold is hitting all-time highs in most currencies around the globe.  This is no mystery given all the money printing going on to fix the crises on both sides of the pond.  All this and a lot more on this week’s Weekly News Wrap-Up.  Enjoy the newscast:

Comments
  1. Ron

    I appreciate your commentary but how about providing a transcript of this weekly wrap up? I go through too much information to watch a video when the words can be read in 10% or less of the time required to watch.

    • Greg

      So sorry Ron there is no script. I ad-lib the segment with just some bullet points.
      Greg

  2. Davis

    Damned If You Do, Damned If You Don’t; The Debt Ceiling Question Answered, And You Won’t Like It.

    I’m glad I have a pretty good sense of humor; otherwise all the pontification and debate about raising or not raising the debt ceiling might bring me to either to tears or a state psychosis. The truth being that all the rhetoric and finger pointing is nothing more than a grand illusion, a distraction to provide a naïve public with the boogey man of their particular partisan choice. In the end, the result of either raising or not raising the debt ceiling will be one and the same; the bankers will get the gold and the taxpayers will get the shaft.

    If the present state of political deadlock stays in place and there is no “grand agreement,” the value of US debt paper would fall precipitously and the interest rates due will rise inversely. The holders of all this paper (with the exception of the FED of course) would then be between the proverbial rock and a hard place. Should they start to unload their holdings and get whatever cash out of it they can, or hold on and hope that US will somehow figure out a way to make the higher interest payments?

    Any decision to sell would require they be both being willing to take and absorb a substantial loss of principle and finding a buyer willing to except the counter party risk in exchange for the potential higher interest draw. Holding on encounters the risks of both potential non-payment of interest, having their asset values fall and their own credit ratings placed in jeopardy.

    So just who would be these buyers of last resort, and whom will they end up sticking with the bill in the end? Well that’s not exactly hard to figure out. Our dear friends, the Primary Dealers of the Federal Reserve System are presently sitting on massive “excess reserves” parked in their accounts at the FED. They will use these reserves as collateral to borrow even more created from thin air “magic money” at ¼% from the FED that they will then use to buy these foreign, mutual fund and hedge fund held Treasury bonds at discount prices. They will then turn around and sell these bonds back to the FED for 3% to 4% more than they paid for them. They can then “pay back” the “magic money” loans and deposit these newly created “profits” back into their FED “excess reserve” accounts. They then payout those fat bonuses they have all come to expect and actually think they’ve earned and then shuffle off their pocket change into campaign funds of their favorite corrupt politicians.

    If you had doubts about what all the talk of “possible” further quantitative easing (QE3) was about, well there’s your answer. In the end the US taxpayer will get stuck with the bill for the higher interest payments and the bankers’ particular tax bill of choice: Inflation.

    Added into this monumental and ongoing pillaging by Wall Street we will get the political chaos of the President then being responsible for deciding what gets cut and how much, to account for the Congress no longer being able to borrow the 40 cents on the dollar that they are now spending. If you think Congress is a bunch bickering, dysfunctional children now, just wait until that mess gets into the appropriation process.

    So what then if there is some kind of “agreement” and the debt ceiling gets increased, coupled with spending cuts and/or increased taxes? Well Congress now has an additional $2.6 Trillion to spend on whatever new or old useless programs they can dream up. Whatever cuts in spending do go into place will result in layoffs of government employees and those of various federal contractors as well as their vendors. The politicians will call it “shared sacrifice,” I’d call it trickle down tyranny. Unemployment goes up and federal and state unemployment insurance payments go up. Home foreclosures go up and the housing markets sags even deeper. Welfare and assistance rolls then grow and in the end this little austerity play becomes a zero sum game in terms of Government expenditures.

    This $2.6 Trillion that will now be available for spending will have to come from somewhere. Once again our old friend QE3 will rear its ugly head. New verse, same as the last verse. The Treasury Department puts more bonds up for auction; the Primary Dealers once again borrow from the FED at next to nothing and buy the bonds. As is standard procedure under the POMO process they even receive a fee from the Treasury Department for making the purchase. They then turn around and sell these Treasuries back to the FED at a premium over their purchase price. The “magic money” loans get repaid and more “excess reserves” get parked back in their FED accounts. The obscene bonuses get paid out and the politicians get their bribes. Only difference is this time there are fewer indirect bidders, as foreign nations, mutual funds and hedge funds will be much less inclined to bid at the auction. So then the prices will be lower and the interest rates will be higher. The direct bidders, the Primary Dealers, will then take on an even larger percentage of the auction offer and will subsequently make even more money under QE3 than they did under QE2.

    Those Primary Dealers that are US branches of European banks will then transfer these newly created profit to their domestic accounts and use them to finance the ongoing bailout of the Euro PIIGS. Once again the US taxpayer will be stuck with the bill for rescuing Europe’s socialist nightmare, the burgeoning interest payments on another $2.6 Trillion in debt and the bankers’ favorite tax; Inflation.

    Unless and until people wake up to this tyrannical fraud and realize that there is nothing in our Constitution or any statute of law that says our currency must be a debt instrument issued by a private bank, this game will go on and on until the whole world collapses into a hyper-inflation that will make Weimar Germany look like a tea party. At which point the powers that be will cook up a war that will spin out of control faster than Courtney Love on a crack binge.

    • Greg

      Davis,
      Thank you for the content! Good stuff man.
      greg

  3. Jeff S

    Greg, Another excellent — and frightening — video. Gerald Celente has his three “G” recommendation for the looming economic disaster: Gold, Guns and a Getaway plan. I’ll add a fourth G: Greg Hunter’s USAWatchdog.com. Thanks so much for watching our backs!!

    Jeff

    • Greg

      Thank you Jeff for your kind words and for supporting this site!!
      Greg

    • reader

      How about G as in “Get together” because we will either hang alone or hang together. 😉

  4. Sam

    Dear Greg,

    I think Bernake said what he said is, not because he’s a fool, but because he doesn’t want the MAJORITY of Americans to PANIC. The last thing he really doesn’t want to see is dollar dumping in favor of buying precious metals (but, it’s perfectly okay for foreigners to dump theirs). That, and making precious metals as unattractive as possible by keeping them as low as possible (re: supply and demand). (I cut my investing teeth on Harry Browne’s “How You Can Profit from the Coming Monetary Crisis,” and was not sorry to have received Browne’s education BEFORE I started college). Those of us who’ve read the Bible know that gold is wealth storage, silver is for trade.

    All I can say about the coming hyperinflation is: how much in the way of groceries can I purchase with ONE pre-1965 silver dime?

    • Greg

      Sam,
      I agree. I don’t think he is a fool, but his predictions have been a little lacking. For the home gamer out there a pre-1965 dime is on fifteenth of an ounce of silver. Silver is just shy of $39.00 a troy ounce and that means that 90% silver dime is worth a little more than $2.50. The Fed has done a great job fighting inflation hasn’t it? Thank you for your comment today.
      Greg

      • TED

        A rule of thumb that I heard from a C2C guest is that $1.00 worth of silver coins in any combination (pre 1965) is roughly 1 ounce of silver. TED

        • Greg

          Ted,
          The correct way to convert face value of 1964 and earlier junk silver (dimes, quarters and half dollars) is to use $1.50 in face value. 15 dimes equal a troy ounce of silver, as does 6 quarters and 3 half dollars. I hope this clarification helps everyone. Thank you for supporting the site.
          Greg

  5. Raymond

    Re-telling us what we already know doesn’t mean a thing. What I want to know is your opinion. Are you in favor of raising the debt ceiling and continue deficit spending? Are you willing to raise taxes and not cut spending? Will there be sometime in the future when this should stop and by that time comes will the consequence result be better, no riots, no hyperinflation, life goes on as normal as if nothing happened? Or in your opinion borrowing should go on forever without consequence?

    • Greg

      Raymond,
      You cannot get out of debt by taking on more debt. We need drastic cuts in spending. I mean drastic. Get out of Korea, Europe and most of the ME. Cut all subsidies in big oil and agriculture. Dismantle Obama Care because we cannot afford it. Mans test SS and Medicare and dramatically cut them. We need to also cut the banker bailouts and make them buy back all the sour debt shoved into Fannie and Freddie. We need to take all the big banks into receivership and make them comply with the same accounting the IRS does. That means valuing assets on the books at what they will get today and not in the year 2035. This is what needs to be done for starters. I am also totally against going into Libya and we need to finish the wars we already are involved in around the globe. Taxes are confiscation and not “revenue.” We should have gotten our spending under control a long time ago and I feel we are past the point of no return. I am giving context to what is going on and possible outcomes to the actions happening around the globe. Most people do not even understand that things can turn very bad in a short amount of time. The debt crisis in Europe is going on simultaneously with the debt crisis in the U.S. This is unprecedented in human history and very dangerous. I would like to think I am doing more than simply “Re-telling us what we already know.” Of course borrowing can not continue forever and either can printing money out of thin air. We are seeing the consequences in inflation that will only get worse. There is a very good chance it turns into hyperinflation in the next few years. anf that will completely destroy the buying power of the U.S. dollar. Thank you for your comment.
      Greg,

      • g.johnson

        awwww greg,

        i am appalled. drastically cut ss and medicare? ss has nothing to do with the problem. it is a closed system bought and paid for by it’s recipients. yes, the government has illegally stolen large chunks of it in the past to spend on warring and should be made to pay it back, not punish the victims.

        you other solutions also miss the mark by a country mile. you need to properly define the enemy before charging into battle.
        the enemy is the bank of england. the crown, the city. red shield (rothschild). bank of england is the head of the octopus of institutions owned by the rothschild, schiff, warburg, (and others) consortium of inbred sociopathic families with no emotional connection to their own species. these are “people” with a deep seated need to control everything around them because they sorely lack the ability to control themselves.

        the american people have been at war with these self proclaimed “intellectual elite” since colonial times. the people of europe for much longer.

        we live in a feudal society in which we need to continually pay tolls and homages to these “elite” just to be allowed to get through a normal day. if you think you own you home, then stop paying property tax. if you think you own your car, don’t renew the tabs. see what happens.

        the only solution to the very much contrived and manipulated fiscal dilemma that holds us all in thrall to these banskter filth is cheap money (yes, fiat currency) produced and controlled by a government that is regulated and controlled by it’s people. money spent into the ecomomy, not borrowed into the economy. yeah i know, if you had told me that fiat currency was the answer a month ago, i would have called you crazy too.

        watch the film. you will not be disappointed.

        http://www.youtube.com/watch?v=7qIhDdST27g

        put on your silver slippers, follow the yellow brick road….and start paying very close attention to that man behind the curtain.

        • Greg

          G. Johnson,
          All will eventually be but either by the budgetary knife of by inflation. That is a sad fact. I hope the continuing banker bailouts and phony accounting are the first to go. Thank you for your comment and link

          • g.johnson

            sorry, not interested in buying into that one any more. the two headed snake of budgetary cuts and/or inflation is a product of fractional, debt based currency.

            the third (and sanest) choice is to stop paying homage to our feudal lords. if you are going to crow about a government of the people by the people and for the people, then you damn well better have an economy that reflects that same ideal.

  6. Mitch Bupp

    Spot on Greg, politicians in Washington are out of touch with reality. The debt ceiling negotiations are a joke. This is more about political posturing than the debt. This debt ceiling circus has been going on for years and neither party would stop raising the limit … I am just a poor small business person trying to make a living. I don’t have investments like bonds or stocks because I am living on the margin like most Americans. I only have silver…..

    Since I work on foreclosures I know what has happened to the number of foreclosures and what you said is true. However, foreclosures are down 85% since September! The fact is that there are so many foreclosures the banks and court system can not process all of them. For example New York it will take almost 1000 days before they can get into court and get the home. And in April the banks were given 60 days to correct the deficiencies regarding robo-signers and other legal processes that need to be corrected. Then after the 60 days the banks were given another month to correct their legal documentary process to ensure that all of the documents and paperwork was valid. I have attached a link to an article from CNBC about the issue.

    http://www.cnbc.com/id/43455507

    • Greg

      Thank you Mitch and Johan for the comments and links!
      Greg

  7. Johan

    Here’s a rating agency s l i g h t l y more independent than the rest…

    http://www.cnbc.com/id/42871647/?US_Debt_Rating_Should_Be_C_Independent_Agency

    Great work Greg

  8. Mike Saylor

    I don’t think you just re-tell what is going on. And by reading your articles I think I allready know your opinion on whats happening in this country and our world. I appreciate the way you connect the dots for people like me, my friends and family. And when I say “like me” I mean the lower middle class who have allready lost just about everything. I have my kids watch the local and the world news with me most every night and they look forward to the “Weekly News Wrap-Up” at the end of the week because you don’t just shout out doom and gloom but explain things the main stream media is ignoring and make it really easy to understand what is more than likely going to happen. And lets face, if a couple of teenagers and there friends look forward to watching the real news at the end of the week, I say mission accomplished.

    • Greg

      Mike,
      That is very good to know. My dad was a machinist. I remember when I told him I was going into TV, he asked, “Is there any money in fixing those things?” My dad was a smart guy but the TV world was totally foreign to him. I am happy he supported me. Thank you for doing the same.
      Greg

  9. Sophia

    Thanks Greg. Spot on as usual! I will be posting your weekly rap up on my Facebook page every week to keep the masses informed.

    • Greg

      Sophia,
      Thank you for your comment and for promoting the site to your friends and family.
      Greg

  10. MasterLuke

    This is Chaos.

    • MasterLuke

      Also,

      I’m refering to the events that are going on around the world. It makes you wonder why countries don’t just forgive the debt of the bankrupt countries like years before? It really makes me wonder if there are very evil forces at play.

    • Greg

      Mater Luke,
      You ain’t seen nothing yet my young friend! Thank you for your support and comments.
      Greg

  11. M SMITH

    Greg, your right, those corporate billionaires will have protected themselves & will not suffer like the billions of people world wide. The politicians don’t know what to do & some just don’t care as along as they keep power. And yes your right; the ones that do know what it would take to bring this nation back to sanity with the use of common sense constitution laws will be kept from taking over power by attack adds the progressives will use through the MSM & social media. They have already scared the herd & a stampede out of the dollar is possible if the U.S. defaults on its debt. My old Navy mates said this week the amount of people that are coming to their senses in the States of MN,OH,TX,TN,NC in the areas they live have plenty of time to follow the politics because they all have been laid off or do part time work have been meeting to view the videos I had sent them for the last five years & now see just how bad it has got! MN is a mixed bag of voting blocks as all the others & they are dropping party lines after they viewed these two videos made not long ago; http://www.goldmoney.com/video/vieira-interview.html; http://farmersandfreeholders.org/2011/06/27/restoring-freedom-in-tennessee/. I posted them here & on FB a few weeks ago, since that time the groups are growing in size but you still have those that have been brain washed so bad they will vote for Obama no mater what. The only way their mind set will change is when the ‘free hand outs are stopped’ because the progressives will send us over the top where socialism dies & fascism takes over. The police state will move in to stop the mass that will fill the streets in anger, but it will be to late, the King now rules! I must add Armstrong last writings answer 3 questions vital to each persons own personal well being & that of Nations. http://www.armstrongeconomics.com/martin_armstrong_writings/. All 3 are dated, July,12,13,14,2011 & easy to understand with open minds.

    Armstrong wrote about this & why it would happen long ago, in latest 3 writings he writes about our ‘Court System, Gold & Money, Spending V Systemic Reform’, people should read these right now, stop what you are doing, clear your brain of all past thinking & really take in how money can be found in many forms as he explains with historic data expressed throughout the ages. Last, he exposes why the two parties chosen paths dooms us because they don’t see ‘That They Are The Problem’! Once you free your mind of all the clutter of years of political games, them against us, you will see what is important, it will be a personal choice.

    How long will it take for the world to wake up & realize the “advice offered up by the Investment Bankers is BIASED’, lethal to long term survival of society, and at the end of the day, will destroy everything in its path as it HAS ALWAYS DONE BEFORE THROUGHOUT TIME.

    Greg, I have not really looked at Gold like this before, it makes a lot of sense when you think like the bankers & politicians do, they always act to protect themselves over looking what pain inflected upon the common people from the regulations by bankers/politicians. As the cry to return to a Gold Standard grows loader, first we must look at why the bankers would LOVE IT. We know investment & central banks with the help of all Governments have Manipulated Gold & all commodities for years & still do so. Right now we have to have a choice to pay our bills to the banks in devalued paper & gold protects you as fiat goes down gold rises. The half way Free Markets allows Gold to rise against all Fiat currencies. Under a Gold Standard no government would NEVER Confiscate Gold, you be forced to pay the Investment Bankers In Gold so “I” would end up in Poverty and the Banksters/Politicians would Hold All of MY/The Gold! Your decision to trust government or not remains a personal choice.

    Now we have elections coming & Obama has a huge money lead on the whole field. That means the MSM will spout off tons of crap to the sheep scaring them into the same mind set they have been stuck in for generations. Kicking the can down the road will make the depression more painful & much longer. I afraid that even if Dr. Paul or another person lays out a step by step plan & explains the failures of the past and presents a plan where those who rely on Social Security will not be dumped, their medical needs would be met, small businesses would be cut from the weight Red Tape of Regulations that Legislation like NAFTA, Cap & Trade that gutted our Republic’s ability to compete in a world economy and how to get us back in the worlds ball game explained in ways that no amount of made up lies from the OLD GUARD would distract the common folks from the truth. Who ever it may be, they must take the JEFFERSON STANCE because to Replant the Seed Of Freedoms, Economic, Monetary, Food, the bad Roots from the SEED PLANTED LONG AGO has grown into a Kudzu VINE that covers all the good underneath massive green leaves only separated by a break of a river, then continues on the other side. The Kudzu does not bear any fruit, it Kills GRAPES and all Other Living Necessities that sustains HUMANITY. All wealth comes from the Earth, 80% Percent Agriculture and 20% Mining, this has to be Front & Center where all know they have been ‘HAD’ by slick talking people who have took those welfare monies from the productive neighbors down the street and now they are jobless and broke, so they no longer send you free money & both of you are broke but able to be productive but here comes the gov, well the gov is broke, no body will provide the gov money because you Can’t/Won’t Pay Your bills. Freedom is not Free & once you feel it, you will never forget it nor will you be scammed into a deal with the Devils of Bankers & Corporate Politicians to be bought off ever again!

    • Greg

      Thank you M Smith for the comment and content!
      Greg

  12. Robert

    Greg,
    A couple of years back I started checking out websites like yours in an attempt to better know what was really going on in the world of politics and economics. Wow! The light came on and things started making much more sense as opposed to the news I was being fed by the MSM.
    I have been working hard to be better prepared (becoming debt free, storing emergency supplies, buying some precious metals, etc.). Maybe it will help, maybe not. But I get peace of mind knowing I’m doing what I can. For that I thank you Greg.
    I became the “crazy” guy at work always talking about the shape of the economy and how things could spiral out of control rather quickly if the country stayed on the same course. This week, with the debt ceiling talks and Bernanke throwing aroung the “C” words (chaos and calamity), I had two co-workers ask my advise on some financial matters. These were two who had ridiculed me just a couple of months back. I was tempted to say some mean things for my own vindication but I held my tongue. I responded with humility and gave the best advice I could.
    I think more and more people will begin to see the severity of our financial situation as time progresses. I hope there is enough time left for others to prepare before things unwind.
    Thank you for being a great source of information for those of us out here looking to be informed.
    Best regards.

    • Greg

      Robert,
      You are not the crazy one but the SANE person in the room! This debt ceiling impasse could send the economy over the edge in a hurry. I hope not, but the situation is ugly! You are doing the right thing in all categories and you will be better off for it. Thank you for the kind words and comment.
      Greg

  13. Tbird

    Greg-
    Appreciate your commentary as usual. You do an excelllent job sifting through the news and giving it to us straight!
    Where have all the sane politicians gone? Our current government reminds me of a ship of fools! No public servants just fools…

    • Greg

      T Bird,
      If there was ever a time to make sure you and your family is protected, this is it. We have this crazy game of “chicken” going on here in the U.S. but you cannot underestimate the European sovereign debt crisis that is just as explosive. Thank you for the comment.
      Greg

  14. Jan

    The political grandstanding is just that. They do not give a damn about the effects of their brinkmanship has on the country. The politicians are puppets in suits doing the bidding of the Central Banks and the corporate special interest.

    I have the feeling we the people will pay dearly for their ineptitude.

    • Greg

      Jan,
      I have the feeling you are right!
      Greg

  15. slingshot

    Funny thing about all this Doom and Gloom, is that it can really take hold of you and depending on how you interpet the information, directly impacts your way of life. Others around you too. It has been said that doing same thing over and over again and expecting different results is crazy. Well, I must be crazy or my same warnings have surely fell on deaf ears. I truly admire those that go through life without a care in the world. While those of us, repeat ourselves in so many editorials and comment sections, to the point it becomes exhaustive. The question is for us that read and write here, should we continue to torture ourselves? If the results we wish to achieve is so insurmountable, why do we not give up? My answer is that there must be something worth saving. If not for myself, then for my children and their children. Maybe for the things we have accomplished as a nation, long before the adoration of material objects. When all is said and done it is possible that the transfer of wealth was not the
    objective of world powers, but the ownership of our body and soul.

    They are working on it and seems to me they are doing a good job.

    • Greg

      Thank you Sling. Yes man there is something here worth saving.
      Greg

  16. Francisco Almeida

    .
    Hi, Greg !

    Noticed your comments are of a gentleman. Therefore you deserve my respect and admiration.

    I thought you’d like to take a look at this studies here, these guys are heavy-duty heavy-weight PROS in strategic international studies of geo-political economics, and I think my subscription is worthy every cent of it:

    http://www.leap2020.eu/GEAB-N-56-Special-Summer-2011-is-available-Global-systemic-crisis-Last-warning-before-the-Autumn-2011-shock-when-15_a6679.html

    Good luck, folks !!!

    Note: I am Brazilian, and I live in Brazil. We’ve gone through the same debt deleveraging process in 1986-94 period, and we had a hyperinflation of 1,000% a year !!!

    Then government said they had no choice other than “have to” sell most public-owned companies in order to pay debt, and next term the debt was even larger then !!!

    Their End game is: control the political class under both bribe and threat, then enslave a country under unpayable debt, and finally bloodsuck it forever, until they become some hopeless than they can social-engineer the entire society under they will, and we will be turned into a feudal-alike system.

    • Greg

      Thank you Francisco for all the comments and links.
      Greg

  17. Francisco Almeida

    .
    Guys, listen to this former CIA top-notch agent:

    http://www.youtube.com/watch?v=ttDF9ATr57E

    Besides staggering revelations, he sets a PATH of peaceful political reaction for us to walk on !!!

  18. Nathen Knowles

    I firmly believe that this WHOLE “debt ceiling debate/crisis/disagreement” is nothing more than a bad bad soap opera rejected by a half rate soap network. A bad political show with “B actors” on both sides of the imaginary isle. Both sides being imaginary too! Call it blind cynacism or just experience of being an American citizen but I really don’t feel that either party in the so called “negotiations” have any regard for the American people, the American economy,the world status of our currency, medicare/medicaide cuts, social security cuts, tax hikes, tax cuts etc. etc etc. I get this overwhelming sense that a deal was worked out long long ago, not by the poli”Tick”cians but by ther string pullers in the international banking houses, insurance companies, big Pharma/Agra/ MilIndustCom et al. If there is indeed any negotiating taking place I believe that they are negotiations to determine which party (complete with party clowns) will SEEMINGLY publically take the bigger bite from the poopoo sandwich and which will get to stand up and say “See?!? We’re the bigger kids here. We “compromised” and solved all of our debt/deficit woes”….. What they don’t seem to realize is that the stinch of their bad acting and false concern for you and me is permiating the walls of those who still have homes throughout the country. The stink of there putred filth spewing forth day in and day out has turned the stomachs of Americans poor and rich, black and white, employed unemployed underemployed and illegally employed. Are they THAT mentally deficient that they cannot sense this. Cannot sense the pure and utter disdain held for them by the American people….well most of the American people anyway. At least the ones who aren’t so deeply invested in the political doodoo that there eyes and ears aren’t clogged with it. We all (most of us who are “awake) know this whole thing is nothing more than a dog and three legge donkey show! Heck! They know it, they just don’t care. Debt ceiling raised or not, economy recovery or collapse, me thinks it matters not to the leeches in Washedupingtown (D)isgraced (C)esspit, no matter what the outcome be assured that NONE (save two or three) will suffer financialdiscomfort, muchless ruin. I’ll wager most come out better off if the shabang crumbles into a post apocalyptic wasteland envisioned in such films as “The Road” or “Mad Max”. One suggestion (and it ain’t a plug) read “Patriots: Surviving the Coming Collapse” by James Wesley-Rawles. Pretty eerie how the book written some years ago is matching up pretty well with current events. I say…. Lets start boilin’ tha tar and pluckin thea chickens!!

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