And the Economic “Edge of No Return” Draws Closer…

Hi,

We may just be a couple of blogging Harwich Spirits Store cats, but we’ve predicted economic disaster time, and time, and time, and time again… Now there’s this stark warning from the Chinese central bank adviser saying that if the U.S. defaults on our debt, we’re,

“playing with fire…

Basically, we’ve sold treasury bonds to China and Japan (to the tune of roughly $1.5 trillion) and those bonds/interest are coming due… And if that isn’t bad enough, we owe another 30 countries… Check out the current screen shot of our national financial mess…

There are three sets of numbers in focus here… From top down, there’s our infamous national debt which matches the second number (our entire GDP — that is, our entire annual income for goods and services.) But it’s the bottom set of numbers that scares the Chinese… We facing smack dab $100,000,000,000,000.00 ($100 trillion) in utterly unfunded liabilities, we’re in debt, and we have absolutely no way of digging out of the hole. Ah shucks… Forget about the debt… It’s the liabilities (Medicare, Medicaid, Social Security, and public  pensions) that are driving us toward the “Thelma and Louise” final scene…

At this point, our unfunded liabilities are at least six times our GDP, and nothing can slow that down… Forget about taxing the rich… Hell, we can take all the money from the millionaires and billionaires, and we still can’t back off the edge…

Time to stock up…

Two cats by the racks…


Wine Glossaries

* Nat Decants: A thorough glossary from Natalie MacLean, noted wine writer, speaker, and judge.
* eRobertParker.com: “The Independent Consumer’s Guide to Fine Wines”
* GLOSSARY of Wine-Tasting Terminology (Version 1.4 – Jan. 1995): A thorough collection of definitions from Anthony Hawkins.

Beer Glossaries

* ratebeer: Now that’s a straightforward name!
* beer-pages: Roger Protz and Tom Cannavan say that “it’s all about beer”.
* alphaDictionary.com: A fine collection of Beer dictionaries.

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One Response to And the Economic “Edge of No Return” Draws Closer…

  1. […] you that as a nation, we’re in serious economic doo doo? (Debt ceiling talks falter… Economic edge of no return… $25,000,000.00 per Hour… Why we’re screwed… Cisco and Ponchita talk global […]

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