Who has ever been to Disney World? One needs a sort of acclimation when entering the District of Columbia these Days, and the facility in Florida works as well as anywhere; Everyone screams and shouts, laughter fills the Air at the stupid Concepts and Sights, and no one ever sees any Cash–it all goes on Daddy’s Credit Cards. It is a wonderful fairytale land where Anything is possible, but nothing is paid for. The most beautiful aspect of it all is the fact that no one has to take anything seriously, until after your get Home, and Daddy realizes he has gotten a Pink Slip. I would talk about the similarity of locale specifically to develop a focus for this link from Mike Shedlock.
Study of the Social Security Fund makes One quickly wish for the good old days of exorbitant Mortgages and bad Credit Default Swaps. You have to first realize that there is no actual Trust Fund, and never has been One; it is like a Hall of Mirrors at a Carnival, where no matter how skinny you may be, you will look like an obese personage. This is the exact Mirror traditionally set up in Washington, where Everyone looks to take reassurance that Reality cannot seep in. The trouble is that the Mirror is old and worn, and everything else keeps bumping into it. Can Anyone take a glimpse of Reality?
The wealthiest, largest economy on Earth has not been Paying for their own Government, their foreign Trading partners, and their own people what they were owed for decades. They have been doing this with the greatest Accounting scheme ever designed, which would make Ponzi and Madoff red with embarrassment at the minuscule Take obtained. The federal government has claimed since 1935 that they have been Investing in a Fund to protect the Retirees and Disabled of society, while in fact, they have simply been paying for their own Expenses with the large Tax collected. It is approaching the Time when Exposure will express the total lack of Value within the Social Security Fund. I would personally give Bernie Madoff a Pass, and hang the United States Congress–maybe add a few ex-Presidents as well. What I do know is that Retirees will be back to a 1935 economy somewhere in the next decade. It is sad Commentary that it is the hard-Working people, who had spent decades building the success of this economy, who will be left twisting in the Wind, with Rope around their necks! lgl