Debt and Financial Scam's- Six Syllables to a Savage Truth

THE MARKET ORACLE
Jul 11, 2009 - 05:29 PM
By: Stewart_Dougherty

On December 9, 2008, $65 billion of investor money was at peace. On the fear / greed seesaw that is said to characterize investor emotion, fear was down on the ground, while greed was high in the sky, having all the fun. Greed was earning a steady 1% per month, making fear look like an over-cautious fool.

On December 10, 2008, six simple syllables transformed that greed into lead, sending it crashing to earth while launching fear to the moon.

The syllables were these: "It's all just one big lie," and they were spoken by Bernard Madoff, in an admission that his investment fund was nothing but an illusion and a fraud. They represented a savage truth that would wipe out the savings of thousands, and toll the bell for the rest of the world's investing public.

The fact is that the United States is suffocating in what has become an airless House of Lies. Social Security is a promise that cannot be kept with anything even remotely resembling America's current "money," and is therefore a lie. Medicare and Medicaid are promises that cannot be kept, and are also lies. SSI benefits cannot be paid into the future, and are lies. The federal debt cannot be paid, and is a lie. Government pensions cannot be paid, and are lies. The prescription drug program is unaffordable, and is a lie. Food stamps and other forms of welfare are unaffordable, and are lies. And the list goes on and on. FULL STORY