SHOULD THE U.S. GO BANKRUPT? YES, OF COURSE!
The Republicans and the Democrats are struggling to find a way to pay off Fifteen Trillion dollars in public debt. They don’t want to raise taxes and they don’t want to cut the layers of pork that they give to all their rich and fat donors.
Somehow, they want to convince the American public that pain must be endured by the general public for at least a half century, in order to allow the banks of the world to soak up principle and interest for all the loans made to the American government to buy military equipment, fight wars and give benefits to every political friend in the world.
The knowledge of this incredible robbery is gradually permeating into the sluggish minds of American voters.
“What the hell?†the people are saying. “Why give it back? We were the ones that never got anything in the first place! Let the Fat Cats pay! They got the benefits. They should pay the price.â€
This type of logical thinking was never anticipated by the politicians of America.
“They should be loyal to the laws—not break them. They should be cringing and crying and begging us to not make the burden too heavy. How can Americans think that they can just go bankrupt and not pay their bills?â€
But, the American public is beginning to believe that they should not pay these fraudulent debts. A debt is a debt if the benefits accrue to the borrower. But, if the benefits accrue to other parties, then there is no debt.
Like Greece and the other southern countries of Europe, voters are beginning to re-think bankruptcy as a solution to their un-payable debts.
Many Americans who borrowed excessively when using their credit cards are drawing the same conclusion. Debts that are too large to pay are eradicated with bankruptcy.
WHAT IS THE DRAWBACK TO BANKRUPTCY?
There is no drawback to bankruptcy! “You will not be able to borrow again,†is the major threat given to debtors who plan bankruptcy. That is not a “drawback.†That is a blessing.
Not borrowing is the best thing that can happen to an individual, a business or a government. The act of entering a contract wherein one party borrows money and the other party receives not only the money lent but also interest is immoral and harmful to the borrower.
No major religion permits this, and all analysis by the best thinkers throughout history warn that only harm to both parties will result.
At one time lenders could imprison borrowers if the loan was not repaid with accrued interest. This type of punishment was so harmful to society that it was outlawed two centuries ago. Today no can be imprisoned nor physically harmed if they do not repay borrowed money.
Lenders have no other recourse except to stop lending. If governments or individuals stop borrowing they are suddenly thrown into the best economic situation: a balanced budget! What they earn is what they spend. No more. There then can never be more debt.
More importantly, the government cannot rob its citizens of more than they pay in taxes. This will make parasitic governments unhappy, but it will make the workers and taxpayers very happy.
THE FUTURE FOR THE U.S.
Like all the countries throughout history which were faced with debts that could not be paid, the U.S. will go bankrupt. The form of bankruptcy will be the same form that was taken by Germany in 1923—inflate the money supply. Pay all debts with worthless paper.
When this happens the American economy can then recover from the abyss that it is in right now. The American public will be happy and a brave new era will begin.
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