The Oswald Financial Bubble!
Oswald caused the Biggest Financial Bubble in History!
July 16, 2015
As Posted on www.usaponzi.com Emailed to SEC WSJ NYT DMN July 16. 2015
Lee Harvey Oswald has caused the Biggest Financial Bubble in the history of the planet!
Lee Harvey Oswald assassinated John F. Kennedy on Nov 22, 1963.
Lyndon Baines Johnson became President of the United States of America as result of this assassination.
This incident got a scoundrel into the White House that would introduce a corrupt and fraudulent Fiscal Policy for the U.S. Government.
LBJ pursued the Vietnam War vigorously creating a significant 'War Debt".
In January of 1968 LBJ proposed the "Unified Budget" to pay for the Vietnam War by "borrowing" the money from the social benefit trust funds.
The "Unified Budget" also suspended the funding of the social benefit trust funds and allowed the U.S. Government to continue to borrow from the social benefit trust funds and spend all of the tax revenue received each year for any purpose that it might choose. Tax revenues were pooled and not reserved for a specific spending obligation.
This created the USAPonzi scheme that defers an ever increasing percentage of the cost of the U.S. Government to the future U.S. taxpayer with GAAP basis Deficit Spending that then stimulates the U.S. and global economy.
This Ponzi scheme produces an ever increasing amount of counterfeit money that the U.S. Government uses to overpay direct and indirect Government employees and uses to pay more social benefits than the U.S. taxpayer can afford. By dramatically undertaxing the U.S. citizens and businesses, the U.S. Government is making the upper class citizens super wealthy and the most prosperous U.S. businesses super profitable because they do not have to pay the full cost of the U.S. Government's spending and committing (see Is the U.S. Government Overspending or Undertaxing?).
As of July 16, 2015, USAPonzi has produced $97.1 Trillion of Unfunded Liabilities (National Debt + Unfunded Future Liabilities) and an equivalent amount of counterfeit money, as reported by www.usdebtclock.org.
This counterfeit money allows the U.S. consumer to buy cars, boats, houses, planes, oil, tennis shoes, smartphones, and whatever from all over the planet that the U.S. consumer could not otherwise afford.
This makes some of the people, businesses, and countries that are producing all of this stuff prosperous and even wealthy so they too can buy cars, boats, houses, planes, oil, tennis shoes, smartphones, and whatever from all over the planet that they could not otherwise afford.
The EU is now loaning money to Greece, that it will never get back, from profits earned from purchases made with money that was earned from profits made from purchases made, etc., etc, with money that was originally borrowed from the future U.S. taxpayer. This counterfeit money is being propagated throughout the U.S. and global economy.
USAPonzi creates more counterfeit money every day ($15.1 Billion a day) with our GAAP basis Deficit Spending of $5.5 Trillion a year so this Ponzi scheme can perpetuate this "virtuous cycle".
In the mean time the future U.S. taxpayer is accruing one hell of a big tax bill and the future pension and social benefit recipients are in for one hell of a big disappointment when they find out that the U.S. Government has not been accruing the funds to pay for these benefits.
The Oswald Financial Bubble has now been inflated with $97.1 Trillion of counterfeit money (our Unfunded Liabilities) and is expanding by $5.5 Trillion a year (our GAAP Deficit) according to www.usdebtclock.org.
This Ponzi scheme will continue until it finally implodes.
And it was all started by Lee Harvey Oswald!
And Janet Yellen still does not see any asset bubbles forming! You would think that the Chairman of the Federal Reserve could see a $97.1 Trillion financial bubble!
And the talking heads on TV still do not think we are in a Stock Market Bubble!
And the Securities and Exchange Commission continues to ignore my Whistleblower Letters!
And The New York Times, The Wall Street Journal, and The Dallas Morning News have all declined to publish my Op-eds exposing this Ponzi scheme!
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.
See The Implosion of USAPonzi for what I predict will happen when USAPonzi implodes.
See The Distortions of USAPonzi for a discussion of some of the issues that USAPonzi is causing in the global economy.
The U.S. Government is operating USAPonzi
"The Biggest Ponzi Scheme on the Planet"!!!!
This Ponzi scheme has produced Unfunded Liabilities (National Debt + Unfunded Future Liabilities) of $97.1 Trillion and by doing so has introduced $97.1 Trillion of counterfeit money into the global economy. The U.S. Government has created $97.1 Trillion of artificial Private Net Worth by assuming $97.1 Trillion of Public Liabilities. The private sector has appeared to get richer by $97.1 Trillion as individuals and businesses but as a group the U.S. public owes the U.S. Government $97.1 Trillion so the U.S. Government can pay the U.S. public $97.1 Trillion worth of pensions and social benefits. So who has the $97.1 Trillion? Nobody has the $97.1 Trillion! It is all counterfeit money. It is an illusion! But the rest of the planet is accepting it as legal currency just like it had real value.
This sounds a lot like the commonly told line that politicians and media pundits give to the public; "we need to lower the tax rate and broaden the base to collect more tax revenue"! How can that work? Lowering the tax rate sounds great for everyone because it would imply lower taxes for everyone but broadening the base means that somebody else is going to have to pay more taxes to get more total revenue. We can't have our cake and eat it too. If the U.S. Government is going to spend money it must collect the tax revenue to pay for this spending.
The simple fact is that the U.S. Government is spending and committing to spend a lot more than it is collecting in taxes. This stimulates the economy, makes the U.S. citizens and businesses appear to richer, by $97.1 Trillion, and makes the U.S. businesses appear to be very profitable. But by not funding the pensions and the future social benefits, this Fiscal Policy is not sustainable and therefore cannot continue. The future U.S. taxpayer cannot possibly pay this $97.1 Trillion of Unfunded Liabilities so at some point we must acknowledge that we are paying direct and indirect Government workers way too much, we are paying the social benefit recipients way to much, and we are not taxing the U.S. citizens and businesses enough.
The U.S. Government is spending and committing to spend $5.5 Trillion more than it is taking in taxes in FY2015 and we are already in the hole by $97.1 Trillion. It does not take a genius to figure out that we have a serious problem.
This is precisely the problem that Greece is having today. They are promising social benefits that the Greek taxpayer cannot afford because they too are operating their fiscal policy with Cash Accounting which does not properly assess and report what is affordable and sustainable. Governments must operate with GAAP (Accrual) Accounting if they are going to make future financial commitments!
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