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

How Lee Harvey Oswald creates traffic jams!
The Automobile Bubble

December 21, 2015  
As Posted on www.usaponzi.com


Please note that the amount of counterfeit money that USAPonzi has produced goes up with each of these commentaries. That is what Ponzi schemes do, they tend to get bigger and bigger until they implode.


As this website has repeatedly stated, the U.S. Government is operating with a Ponzi scheme fiscal policy (USAPonzi) that is creating counterfeit money, counterfeit private wealth, and counterfeit prosperity for U.S. citizens and businesses with massive GAAP basis deficit spending.  By deferring an ever-increasing percentage of the cost of operating the U.S. Government to the future U.S. taxpayers, the U.S. Government is handing out counterfeit money to all U.S. citizens and businesses by either overpaying them with social benefits, overpaying them with Government pay, or undertaxing them with GAAP basis deficit spending. This has created $100.5 Trillion of counterfeit money (reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP)) that makes the people in the U.S. appear rich and prosperous and gives them tremendous buying power.


This counterfeit money has allowed us to buy stuff that we cannot afford; houses, boats, planes, oil, gas, and yes cars and trucks.  We are now back to a level of buying 18 million new vehicles per year. But we are not paying for those cars and trucks, we are charging them to the future U.S. taxpayers that now owe $100.5 Trillion.  We are filling our roads up with cars and trucks that we cannot afford, we are fueling them with gas that we cannot afford, and we are widening the roads with construction money that we do not have so that we can handle more and more cars and trucks.


With the current fiscal policy we can, in theory, have an infinite number of cars and trucks on the road and not have to earn a nickel to pay for these vehicles or the gas it takes to run them or the roads that they run on because the future U.S. taxpayers are expected to pay for just about everything we own, use, and consume.


So now let's connect the dots one more time.


Oswald assassinates JFK.


LBJ becomes President.


This gets a scoundrel into the White House.


LBJ spends Billions on the Vietnam War.


LBJ "balances the budget" in FY1969 with the Unified Budget by "borrowing" the money in the social benefit trust funds to pay for the Vietnam War.


The Unified Budget is corrupt and fraudulent by using Cash Accounting rather than GAAP Accounting.


This creates a Ponzi scheme that has now deferred $100.5 Trillion of public liabilities to the future U.S. taxpayers with GAAP basis deficit spending by overspending on a cash basis and by not funding the future social benefit promises.


This creates $100.5 Trillion of counterfeit money but since it is the United States of America that is producing this counterfeit money the rest of the Planet thinks it must be sound money.


This creates huge counterfeit buying power for the U.S. citizens and even for the rest of the planet to buy oil, gas, and cars to fill up our roads and create traffic jams.


With the current fiscal policy, we can, in theory, buy an infinite number of cars and charge them all to the future U.S. taxpayer.


Therefore, Lee Harvey Oswald is responsible for these traffic jams.


Ponzi schemes can cause severe distortions in our financial system and our economy. And they can even cause traffic jams.


Most of these cars will be in junk yards when USAPonzi implodes because we will not be able to afford the gas and oil to run them.


We will have a lot of idle assets sitting around doing nothing when USAPonzi implodes.


See The Implosion of USAPonzi for my more detailed prediction of what will happen at "The End Game for USAPonzi".


We have a bunch of Scoundrels, Liars, and Cheaters in the U.S. Government that are responsible for this fraud and corruption and the upper class is no better because they are willing to go along with this fraud and corruption because it is appearing to make them filthy rich with counterfeit money.


Solution

This situation can only be resolved by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget. This will ensure an equitable and sustainable fiscal policy.


The financial data presented in this commentary was sourced from www.usdebtclock.org as of December 21, 2015.