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Monday, December 31, 2012

A Canadian Summarizes America's Collapse: "Everyone Takes, Nobody Makes, Money Is Free, And Money Is Worthless"

On this lackluster Boxing Day dominated by illiquid moves in every asset class, we thought a few succinct minutes spent comprehending the US and European government policies of social welfare and their outcomes was time well spent. Canadian MP Pierre Poilievre delivers a rather epic speech destroying the myths of US and European 'wealth' noting that "Once the US citizen is in debt, the US government encourages them to stay in debt," noting that "the US government encouraged millions of Americans to spend money they did not have on homes they could not afford using loans they could never repay and then gave them a tax incentive never to repay it." His message, delivered seamlessly, notes the inordinate rise in the cost of all this borrowing, adding that "through debt interest alone, soon the US taxpayer will be funding 100% of the Chinese Military complex." From Dependence to Debt to the Welfare State and back to Dependence, this presentation puts incredible context on the false hope so many believe in the US and Europe. Must watch.

"By 2020, the US Government will be spending more annually on debt interest than the total combined military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel."

"Through government spending the indulgence of one is the burden of another; through government borrowing, the excess of one generation becomes the yoke of the next; through international bailouts, one nation's extravagance becomes another nation's debt"

"Everyone takes, nobody makes, work doesn't pay, indulgence doesn't cost, money is free, and money is worthless."


lmclain said...

Everyone (with even half a brain) in every country on Earth KNOWS what he is saying is EXACTLY true. EXCEPT for the 51% of idiot Americans who continue to think that obama policies of taking all that he can from people who EARN it and giving it to those who NEVER have earned anything, and printing $45 BILLION DOLLARS A MONTH (!!) of essentially worthless money (the world knows THAT, too) will somehow, magically turn out well. The entire industrialized world is laughing at us and, at the same time, also freaking out. They KNOW what Americans and our "leaders" refuse to acknowledge -- we will financially collapse. Can't be stopped. And when WE collapse, every other country will fall like dominoes. Instead of being a beacon of freedom, opportunity, and courage, we are now considered to be the fattest, laziest, corrupt, stupid, most self-indulgent and delusional people on the planet. And 51% of our citizens want MORE and MORE every day. Without shame. Without any consideration about where what THEY are given comes from....keep buying guns. You're gonna need 'em. And keep

Anonymous said...

Every year we are encouraged to spend and spend on retail items during the holidays.