Posted on 12/03/2009 11:06:09 AM PST by TruthHound
...To begin with, many governments currently find themselves on the verge of bankruptcy. Having tried to spur economic growth through vast injections of new money, they have contracted immense public debts. “High public debt looks entirely unsustainable in the long run. We have almost reached a point of no return for government debt,” concludes Société Générale in its report.
Leading the way is the United States which posted a deficit of nearly 10 percent GDP during the last fiscal year. The Obama administration projects that America’s national debt will exceed its annual economic output in the 2011 fiscal cycle. It will then continue expanding as far as the eye can see, reaching 107 percent of GDP in 2019. It should be remembered that these are the administration’s own figures, which almost always tend to be too optimistic. The reality is likely to be worse.
The deep indebtedness of western governments raises serious questions about their financial viability. Ambrose Evans-Pritchard, the Telegraph’s International Business Editor, puts it bluntly: “Almost all western governments are insolvent… we are bust.” Evans-Pritchard is correct. The level of indebtedness is unsustainable. Unable to squeeze much more from taxes, sooner or later western governments will have to start defaulting. The default will very likely take the form of high inflation as governments will try to print away their immense debt burden. This will, of course, have dire economic repercussions....
I'd guess about a third of the population will perish.
The idea was brilliant in its simplicity. It was also entirely welcome to a Left no longer willing to back up its revolutionary rhetoric with street protests and Molotov cocktails, because the draft had ended and the Vietnam War had effectively been defunded by Congress. All they had to worry about now was finding an appropriate post-graduate path with which to avoid having to earn a living in the private sector. That path was supplied by graduate-level social science studies, foundation grants, non-profit institutional programs and government bureaucracies.
Thus began the "long march through the institutions" (Mao's phrase) in which the newly-minted academic activists pursued careers in government and public policy, eventually taking control of the academies and bureaucracies while directing their purpose toward promoting a Progressive expansion of state power.
What we are seeing now, under Obama and a Progressive-ruled Congress is the end game, in which demands upon "the system" are being purposefully multiplied in pursuit of the old Marxist dialectic of collapse and rebuilding. And what they plan to rebuild looks nothing like the old America, and much more like the old Soviet Union with its command economy, single party politics and mechanisms of social control under the banner of a beloved (or else) Dear Leader.
You are indeed well aware of what is going on. I have preached the same as you but most to whom we preach haven’t experienced what we have and have also been misinformed by the professors and the MSM.
In my discussions I have traced the movement in the USA as far back as the early 1900s and Woodrow Wilson through FDR, LBJ, Carter, Clinton and now, under a trained Marxist to, as you say, push the ball over the goal line to begin the “rebuilding.”
It is also very irritating that they are able to get the rest of us to pay for our own destruction by their always finding positions that are paid for by the taxpayers or by some long deceased entrepreneur’s foundation.
Your description of how they managed to avoid gainful employment in the real world by creating the graduate positions, government grants, NGOs, etc., is very important. That is why the cost of education is continuing to rise. There is much more to support and for longer than a four year sojourn through the halls of higher learning. It is also why the grads are less useful to employers in the real world than before.
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