A blind parrot can see that you need to collect taxes in order to pay for government spending. The best the US supercommittee can do is to continue to provide services that it cannot pay for by issuing government debt whilst at the same time refusing to raise historically low taxes at all. This is typical of career building politicians the world over putting their own career-ego before the state of the nation. Any of the great American people that voted for this shower should be ashamed of this performance and tell their politicians in no uncertain terms to get real immediately. The continuation of this playground spat will be an unprecedented economic travesty which I believe is already beginning to unfold as more countries diversify reserve holdings away from the US dollar. The dollar will always be a reserve currency but as its economic supremacy fades so does Americas voice on the world stage. The fat lady of Wall St is going on one hell of a diet and the Grand economic opera may well become a second rate barroom karaoke act. To prevent this the supercommittee has to act decisively and immediately to restore public and international confidence. Fat chance of that happening so the only debate worth having is about the future shape of global economic politics because for certain; it will be radically different to what we have today.
Wednesday, 23 November 2011
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Pathetic US politicians
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