The Absurdity of USAPonzi!
October 18, 2017 Emailed to WSJ/NYT/DMN on 10/19/17
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains the absurdity of the U.S. Government fiscal policy that I call USAPonzi!
The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”!
The Absurdity of USAPonzi!
October 18, 2017
the quality or condition of existing in a meaningless and irrational world.
Absurd, ridiculous, preposterous all mean inconsistent with reason or common sense.
Synonyms: craziness, ridiculous, ludicrous
utterly or obviously senseless, illogical, or untrue; contrary to all reason or common sense; laughably foolish or false.
The U.S. Government is perpetrating a fiscal and accounting fraud (USAPonzi) that has borrowed $108.6 Trillion from the future Americans and given it to the U.S. upper class (See American Accounting Fraud).
This is absurd!
Absurd is, to me, the best word to characterize the fiscal policy of the United States of America. The U.S. Government is operating with a fiscal policy that is absurd! For the last 48 years, the U.S. Government has been operating with an accounting system that does not comply with Generally Accepted Accounting Principles (GAAP Accounting).
The budget committee in Congress is trying to balance a cash budget that has a cash deficit of $600-700 Billion when the “real” GAAP deficit is on the order of $5.6 Trillion for FY2018. The “real” budget deficit is about 8 times what the U.S. Government is reporting! This is absurd! This is totally absurd! What have we done by electing a government that will resort to such absurdity?
This fiscal policy has created an absurd and distorted economic environment not only in America but throughout the planet. This fiscal policy has enriched the upper class and oppressed the general population. This fiscal policy has dramatically accelerated the consumption rate in America and many other parts of the planet.
This fiscal policy is filling the planet with assets that we cannot manage and effectively utilize. We are buying and building these assets with money that the U.S. Government has borrowed from the future Americans. We have bought so many cars that we seem to have one massive traffic jam in many major metropolitan areas! When we can buy cars with an unlimited supply of counterfeit money we can buy a lot of cars! I estimate that we have purchased 5-7 times as many cars as we can really afford.
The U.S. Government has borrowed $108.6 Trillion, so far, from the future Americans, money that the future Americans do not have, and given it to the U.S. upper class to produce this absurd economic environment!
This fiscal policy is stuffing imaginary-counterfeit money, $108.6 Trillion so far, into the pockets of all Americans, especially the upper class, so we can fill America with cars, trucks, airplanes, smartphones, houses, apartments, office buildings, airports, hotels, golf courses, sports arenas, restaurants, shopping malls, etc, etc. that we cannot afford. We are buying and building this stuff with money that the U.S. Government has absurdly and fraudulently borrowed from the future Americans.
We have made a lot of unfortunate financial decisions because of an absurd fiscal policy for arguably the most important financial institution on the planet, the Government of the United States of America. But ironically, this fiscal policy is what has fraudulently put America in the dominant position on the planet; economically, financially, militarily, politically, and socially. When USAPonzi implodes, the economic conditions all over the planet will be normalized. When this absurd fiscal policy is replaced with an honest and rational fiscal policy, the economic conditions in America will not be materially different than many other parts of the planet.
Lyndon Baines Johnson may or may not have known exactly what he was putting in place, with the Unified Budget, but he created an absurd, distorted, and biased economic environment that is dramatically favoring America over the rest of the planet and within America is dramatically favoring the upper class over the general population.
The U.S. Government is operating with an absurd fiscal policy and accounting system.
The U.S. Government is corrupt!
The senior officials in the U.S. Government are common criminals for operating an absurd fiscal policy that is enriching them and their upper-class friends!
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 18, 2017
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.
This is the biggest ($108.6 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White