The Paper Hero and The Darkness - Economic Future is The Divisive Present

There’s a legal limit to federal debt which must be raised when the government keeps running deficits, and the limit will be reached again sometime this spring. Otherwise, they say, a government shutdown will stop the provision of “essential services”. More likely, the very public political sh*tstorm that ensues will weaken our currency, our financial markets and what little is left of America’s reputation as a world leader.

Meanwhile, back at the ranch, Fed Chair Ben Bernanke is begging for “a fiscal program that combines near-term measures to enhance growth with strong, confidence-inducing steps to reduce longer-term structural deficits” in order to combat the massive and growing unemployment, while Mr. Alan Simpson rejoices “I can’t wait for the blood bath in April. ... When debt limit time comes, they’re going to look around and say ‘what in the hell do we do now? We’ve got guys who will not approve the debt limit extension unless we give ’em a piece of meat, real meat,’ - And boy, the blood bath will be extraordinary!”

With the aftermath of the current opinion poll (the election) breathing fear into demagogues who are trying to hang on to a public paycheck, some are blocking an extension of unemployment benefits, voting to continue a tax break for the rich and block aid to small business. Other demagogues want money for the new arms treaty, a new bailout and new everything to save us.

I don’t fear a government shutdown – it happened under Clinton and the idiots who thought they wanted it had to turn government back on before Americans realized how little of their government they really needed. And what I fear is not the hardship and dislocation of an economy on the ropes – we got through that one before, too.

I fear the bitter, vindictive, divisiveness – and the total ignorance of what is at stake here – that is taking us over the brink into this Brave New World. That most Americans still don’t understand the reality of our position (thanks in part to government and press “spin” as well as learned ignorance) may presage the angry mobs which govern our future. 

And I guarantee to those who have never seen a mob, you will not like it.