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7 Weeks to Austerity Programs in the US...Who do you think wrote the "fiscal cliff" legislation?
Ms Sans Serif
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[quote:Anonymous Coward 16973401:MV8yMDUyNjQyXzM0NjE0OTk5XzNCNDI4MkVF] The Bank of International Settlements yank the pull string on Ben Bernanke and: BERNANKE SAYS FISCAL CLIFF WOULD POSE `SUBSTANTIAL THREAT' BERNANKE SAYS CONGRESS, WHITE HOUSE NEED TO AVERT FISCAL CLIFF http://www.zerohedge.com/news/2012-11-20/bernanke-promises-more-same-warns-fiscal-cliff BERNANKE SAYS FED ABILITY TO OFFSET HEADWINDS `NOT INFINITE' BERNANKE SAYS FED DOESN'T HAVE TOOLS TO PREVENT GOING OFF CLIFF "S&P futures fell around 8 points as he uttered these words but was rescued by some anxious BIS scrambling in EURUSD..." http://www.zerohedge.com/news/2012-11-20/stocks-slump-bernanke-admits-doesnt-have-tools-ease-fiscal-cliff [/quote]
Calling it the "fiscal cliff" and focusing on an arbitrary deadline is a distraction technique that forces people to look at what's really happening from the wrong perspective and therefore miss it entirely.
The deal with the banks is...."congress will pass laws implementing austerity programs to fully legitimize the process and the sheeple will be ever grateful in their sinking financial state that
(which the bankers created out of thin air for "the deal" through all their well known influence with our political class/oligarchy) was heroically avoided in the final hours by relentless, sleepless determination from our lawmakers to prove this great country can put aside deep fractiousness and come together when the going gets tough."
Y'see, congress can only affect discretionary spending.
Interest payments on govt debt...congress can't touch it.
Mandatory obligations...stay mandatory.
The problem is, "the US fiscal situation is so untenable that the government fails to collect enough tax revenue to cover mandatory spending and debt interest. In Fiscal Year 2011, for example, the US government spent $176 billion MORE on debt interest and mandatory spending than they generated in tax revenue.
In Fiscal Year 2012, which just ended 6 weeks ago, that shortfall increased to $251 billion. This means that they could cut the ENTIRE discretionary budget and still be in the hole by $251 billion.
This is why the Fiscal Cliff is irrelevant."
link to www.zerohedge.com
The reason congress will compromise and avoid the "fiscal cliff" is that the banks make way too much money on war.
"Falling over the fiscal cliff" would mean military spending would be significantly cut. The banks don't want that. military spending is their bread and butter. So why did they write it into the legislation you may ask?
Because they knew they could create a situation where large cuts in military spending would not be acceptable by the sheeple.
Why do you think the Middle East (ie the same old actors) is "flaring up"?
"LOOK OVER HERE!!! ROCKETS AND DEATH AND DESTRUCTION ON THE VERGE OF ESCALATION AND FREAKING ARMAGEDDON!!!!!!!!!"
And the sheeple go....doot doodoo do do do doot doot, doot do do doot doodoo do do......HOLY CRAP!!!!! YOU GUYS IN CONGRESS CAN'T ALLOW THOSE FREAKING MILITARY CUTBACKS NOW FER CRYIN' OUT LOUD!!!!!
It's such an obvious scam but one that's apparently easily accomplished.
So...AUSTERITY PROGRAMS here we come.
We're all Greek now.
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