The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Don't cry for me Argentina/America! Video
Sep 30, 2015  
As posted on www.usaponzi.com


The Government of Argentina embarked on a socialist transition over several decades that led to increasing Government commitments that were not sustainable by the taxpayer. This video, link provided below, explains how unsustainable government financial commitments to the citizenry can create severe distortion in the economy and eventually in the financial system.


The U.S. Government is doing exactly the same thing by making social benefit commitments that are not supported by a sustainable Fiscal Policy. We embarked on this unsustainable Fiscal Policy path in FY1969 when LBJ proposed and got passed a new budgeting process called the Unified Budget which stopped funding the future financial commitments. As a result the U.S. Government now has US Unfunded Liabilities (GAAP) of $97.7 Trillion and is adding to these Unfunded Liabilities at the rate of $14.9 Billion every day.


I would encourage you to watch this 8 minute video that explains what can happen when a Government is not using the proper accounting when it makes future financial commitments.


This is a short history lesson about what happened in Argentina, and is now happening in the United States of America.


Don't cry for me Argentina/America! Video



The only problem that I see with this video is that it places the blame on the Democrat Party when, in my view, the blame must be shared equally among all members of the U.S. Government.


The U.S. Government is using fraudulent accounting and making unaffordable, false, and unfunded social benefit promises to the U.S. citizenry, so that it can overpay itself, its employees and its related businesses and make the U.S. upper class appear to be super wealthy. Ponzi schemes can cause severe distortions and USAPonzi is no exception.


To correct these Fiscal Policy Issues, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget in order to establish an equitable and sustainable fiscal policy for the Government of the United States of America.


This Fiscal Policy is a Ponzi scheme that I have named USAPonzi.


USAPonzi is "The Biggest Ponzi Scheme on the Planet".


Because of this corrupt and fraudulent Fiscal Policy, I predict that we are headed toward a global financial system meltdown because the U.S. Government will be forced to declare bankruptcy.


See The Implosion of USAPonzi for an explanation of what I predict will happen when USAPonzi implodes and this global financial system meltdown occurs.


Financial data presented in this commentary was sourced from www.usdebtclock.org as of September 30, 2015.