“Eventually the American taxpayer will get so fed up with these bunch of morons in Washington — Republican and Democrat — they are going to demand we take real action with real numbers; cut thru the crap and start dealing with this debt and we can do it,” Davidowitz says. “Why did we say in U.S. ‘the bondholders can’t be hurt?’ What the hell was that about? It was all mad.”
Like most observers, Davidowitz expects Congress will come up with a short-term deal to at least temporarily raise the debt ceiling and allow the madness to continue.
“I think we’ll get something for six months, a deal these morons can get their arms around…and keep screwing around, kicking the can down the road and do nothing,” he says.
Disrupting the Borg is expensive and time consuming!
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The problems may not have a solution, because there is too much pressure from all the special interest groups. Everyone loves their benefits but no one wants to pay for them.
The only solution may be a total collapse, a real revolution and starting over from scratch.
It’s the same everywhere, Andy. Governments simply have too much power to spend virtually whatever they want, including on their own salaries.
I read yesterday that the governor of the tiny Italian state of Bolzano earns more than Obama. Citizens just have no say in these matters – you can vote for another party, but end up getting the same policies with a different face on them.
Meantime politicians build up special interest groups (using taxpayers’ money of course) so that they can have their own client state who will carry on voting for them.
We seem to be moving back to the old days before democracy when governments could do what they wanted.
They need to do the badly needed spending cuts.