Austerity will kick U.S. out of comfort zone

A default on the U.S. debt is a fallacy. Government is taking in plenty of tax money to cover the carrying costs of our debt. However, there will be significant austerity that will hit the American people if politicians do not raise the debt limit. Just like all other nations who have lived beyond their means, cuts will be implemented. Is there an alternative?

On Sunday (Oct. 13). Yahoo news published an article concerning Jamie Dimon of JP Morgan bank. The article did not talk about JP Morgan’s last quarter loss of $380 million. Nine billion in legal expenses fighting government corruption charges was the cause for their monetary loss.

Dimon did state how disastrous a U.S. default would be to the world’s economy. Really. Perhaps his fear is the repercussion of the austerity coming to the USA. He sees what has happened in other nations when people lose their benefits/handouts from government. Rebellion. What we see around the world is a failed economic system developed 100 years ago in the USA and spread around the world like a cancer.

See Also

JP Morgan and other banks “too big to fail/jail” fear the awakening of the sleeping giant in America, the people. When we feel the pain of austerity and realize both major political parties are under the demands of the banks we will look for honest answers to the tough questions. We continue to sleep because we are comfortable. Austerity is about to kick us out of our comfort zone.

The alternative answers are there but first we will feel the sting of our failed monetary and fiscal policies. Then we will start asking the tough questions and look for honest answers. When we are ready to unite as a people great things can be accomplished.


Thanks to track meet participants, volunteers

North Peninsula Recreation Service Area would like to thank all of the participants and volunteers involved in our annual Nikiski Youth... Read more

Why the pushback over net pens?

The recent article on Cook Inlet Aquaculture Association net pens was very informative. The use of the net pens is temporary, used to imprint fish.... Read more

Bigger issues in Kenai

Regarding the May 18 article “Council mulls Lawton Acres”:

All this hoopla over a contaminated piece of property. So much angst over a strip of... Read more

In my opinion …

Our government, which I believe to be the best in the world, is struggling. Personally, I would not want the President’s... Read more

Around the Web