A society that has completely lost control.

Analyst and financial writer John Rubino:

The debt goes up, the interest on the debt goes up and that raises the debt even further, and you just spiral out of control.

We are there right now.  The official U.S. debt is $33.5 trillion.  It’s growing by $1.7 trillion a year, and $1 trillion of that is interest costs.

Interest costs are rising as the overall debt goes up.  Then throw in this incredibly reckless military spending in the guise of foreign aid, and you get a society that has completely lost control.

That’s where we are now.

We are in the blowoff stage of a 70-year credit super-cycle.

Those things do not end with a whimper, and they certainly do not end with a soft landing.  They end with a bang, and the bang is going to be centered on the currency.

People are going to look at this and say, ‘Do I really want to hold the currency or bonds of a country that is destroying its finances at this trajectory and this scale?’  The answer will be ‘No.’

At that point, it is game over for a deeply indebted economy.  We are headed that way fast, and these wars are taking us that way even faster.^<1>

Take that in then contemplate this gem of a headline:

Democrats reject 1 percent cut in spending.

It seems, of late, that we have Paul Reveres riding through our neighborhoods like shoplifters pouring out of a downtown San Francisco iPhone store but their warnings just don’t seem to register with anyone, least of all politicians, bankers, our ginormous corporate monopolies, the War Department, the Enemy of the State Department, the Federal Reserve, the lying, scumbag press, the feeble Supreme Court, the worthless legal establishment who’ve never heard of the Tenth Amendment, or the bought and paid-for professoriate (at least the part of it that isn’t wearing a nose ring and a clown wig).

People are running up their credit card balances and dipping into their 401Ks to try to hang on.  With the tax penalties for early withdrawals from 401Ks and average credit card interest rates now at 24.56% I don’t have to tell you that that is evidence of some serious desperation in the land.  

But tra la la, campers.  We gots to stop those Russians and their plans for world domination.  

And as for doing something wildly imaginative like the Chinese Belt Road Initiative, well, you can just forget about that, now can’t you.  Give us our senile, corrupt, hair-sniffing chief executive, our tired ass billionaire-controlled elections, our pathetic entertainment industry, our lying press, our tyrannical DOJ, our thug-loving local prosecutors, our lunatic wars on hydrocarbons, “climate change,” and the COVID-19 menace (with a survival rate north of 99%), wildly unconstitutional censorship of free speech, and millions and millions and millions of those self-inviting, entitled, third-world asylum seekers any day. 

That’s how you run a country.

Notes.
^<1> Quoted in ‘This Will Not End With A Soft-Landing Whimper’ – Rubino Warns “Only A Matter Of Time Before Everyone Realizes There’s No Fix”.  By Tyler Durden, 11/20/23.