Sovereign bankruptcy reason for war

Up till today, my posts were generally titled “Curtailing public spending as precursor to war”.

Today, we can graduate to “Sovereign bankruptcy reason for war”.

Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states. Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance.”

Prepare to be dazzled by a new impetus in aggressive political posturing overseas and be prepared for tragic events to unfold in coming weeks that will make you believe that evil foreign forces are threatening our way of life. When the inevitable game of sovereign scape goating begins, keep in mind there is nothing left to threaten in our way of life; it’s all been threatened and devastated by our own leaders already.

Think about that when you turn in at night.


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One Response to “Sovereign bankruptcy reason for war”

  1. David W. Lincoln Says:

    One thing I don’t get, Guido. What is wrong with those countries which frankly have the most on the ball having a jointly run currency board?

    As you know, I do not trust central banks any further than I can throw them.

    Plus, as long as they are independant of government interference, they will not be means of manipulation belonging to government.

    Lastly, those banks and holders of dodgy bonds, they should not expect
    to be rescued by the Chinese or Arabs. You have written about Arabs throwing money to be competition to India in the field of IT. It hasn’t worked, and it won’t work.

    Thanks for letting me get this off my chest.

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