The Man With No Plan: The Fuse on America's Debt Bomb Just Keeps Getting Shorter

With the health of the fragile economy hanging in the balance and financial markets watching closely, the leaders said they would present the compromise to their caucuses on Monday in hopes of enacting it before a Tuesday deadline to avert default. ... The tentative agreement calls for at least $2.4 trillion in spending cuts over 10 years, a new Congressional committee to recommend a deficit-reduction proposal by Thanksgiving, and a two-step increase in the debt ceiling. ... They said the debt limit would be increased by $900 billion in the first installment, subject to a Congressional vote of disapproval that Mr. Obama would be able to veto. To prevent a default, $400 billion would be added immediately. – NY Times

Dominant Social Theme: Everything will be OK. Nothing to see here folks ... the storm has passed and your wise leaders have saved the day.

Free-Market Analysis: All along we have been saying that the semantics and hype surrounding the debt ceiling debate would be for not and that "business as usual" would prevail. This celebratory piece, published by the NY Times on Sunday (excerpted above), is just the kind of propaganda that confuses the public into actually believing that something meaningful has been accomplished and that the US economy will now improve and their living standards along with it.

Mainstream media have long been aiding and abetting Money Power and their deceitful game of monetary manipulation – one that has been hollowing out the American economy and blowing cannon-size holes through the US Constitution. So it comes as now surprise, that here on the virtual eve of the debt ceiling vote in the House of Representatives, that the NY Times brings the "people" a message of false hope.

Well, sorry to burst the party balloons, but we just don't see this as anything other than a continuation of the same. There is no "cure" here. The "plan" is not going to solve anything because it DOESN'T ADDRESS THE REAL PROBLEM.
The real problem has to do with a faulty currency that is unrestrained because it is inflatable at the will of politicians and central bankers. And people have been conditioned to believe they there are others out there who can do a better job of looking out for their needs than themselves.

So it is that people continue to sacrifice more and more of their freedoms to the dream peddlers. They grant them free license to inflate an unrestrained fiat currency that has been hijacked over time. And mainstream media publications, like the NY Times, are ever ready to do their part to make sure a glossy coat of wordsmithing provides cover to the process.

The "wise leaders" would like everyone to believe that money is evil and that in order to protect society against the ravages of the free-market, a central bank must oversee the process of money creation and monetary policy, albeit with government supervision. And it is the belief by many in this misguided premise that has enabled the greatest heist the world has ever seen to be carried out, courtesy of the "wise leaders" and their structural edifices.

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