What Happens When Debt Never Gets Paid Off – 04.13.15

The system doesn’t really ”function”. It just refuses to die. QE is a program only ever used as evidence of government insolvency. We have simply been marking time for fifteen years and, crucially for the last six. We are in the place of a stage 4 cancer victim who is holding out on life support systems. Yes, it really is as serious as that. China’s monetary ascendance is in full swing. The consequences of America’s ongoing refusal to deal with its debt situation. The fiscal debt gap was $60 trillion in 2003, a horror story in its own right. Today that figure stands at $210 trillion. The country is headed into a fiscal black hole. The surreal aspect of institutionalized failure inherent in all America’s war efforts. We examine why this is. Bernanke’s new blog cherry picks the ‘comments’ and ‘questions’ which are allowed. Others are just deleted! The drought in California. A British couple wins £1 million – twice, beating odds of 283 billion-to-one. I wonder how that stacks up with Warren Buffett’s success rate.