Inflation is Coming

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Martin Hash
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Inflation is Coming

Post by Martin Hash » Sun Sep 16, 2012 5:41 am

Alleviating unsustainable debts that trap people for life was so important to the writers of the U.S. Constitution that they included bankruptcy as a basic human right – and not as an Amendment – it was part of the core guarantees. Why? Because people that are forced into debt service are little more than slaves. (It’s ironic that slavery itself was not abolished in the original Constitution!)

Nations that have unsustainable debts turn their taxpayers into slaves. In America’s case, public employee pensions are our ruin - federal debt and retiree commitments currently equal $561,254 per American household! The reason is simple enough – if a private business promised the kind of retirement benefits that public employees receive, it would go broke. And because there is no adversarial relationship between public employees and their employers (they are in collusion with legislators, elected through campaign contributions), there is no counter-acting force against their demands.

America is clinically bankrupt. This fact is only kept secret because government accounting rules differ from the accounting rules that private businesses are held too. The justification for the difference in rules is that governments can print money to pay their debts. In fact, this is the only option left to America. However, printing money causes inflation. Inflation is a nation’s way of declaring bankruptcy. The Founding Fathers were right again.