Friday, July 10, 2009

U.S. financial woes solved-read on!

As the country steams along toward financial destruction,I think I really do see a green shoot.No,for real.We are already bankrupt,of course,because we owe more than we're worth.Deficits and spending are unprecedented,unemployment is up,credit remains tight,equity is dropping across the board,investors have lost trillions.All bad news to be sure.Seems to be only a matter of time before China pulls the plug on us and our entire financial sector collapses.

This is where the green shoot becomes evident.Once we default and the dollar becomes worthless,this is where the Obama bankruptcy team that just arranged the auto bankruptcies steps in.Remember,even though it's illegal,the Obama team decided not to pay off the bondholders and instead reward the UAW/CAW for their campaign support.All the plaintiffs with various litigation against the automakers-sorry,you got left out as well.The dealers who were successful and making money-sorry,you're out too.

Why not just let this team handle the bankruptcy proceedings and we can simply pay China,Japan and the other major debt holders to take 10 cents on the dollar?We can create a good U.S. and a bad U.S. just like GM.The good U.S. will be free of all debt and all future unfunded entitlement programs like S.S. and Medicare and health care reform and the carbon tax.We'll put all that in the bad U.S. side.In fact,since the Democrats own everything right now,why not let them pass everything they have ever wanted right before we file so all those obligations can go to the bad U.S..This will of course crush the economies around the globe and we can be the big dog on the porch again.So easy.More to come...

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