“…if creditors charged governments interest rates commensurate with their actual risk, those huge interest rates (probably at Visa/Master Card levels) would cripple all Western governments’ ability to continue to spend at extravagant levels. And that would be the end of those governing classes. You see, it’s not about protecting you, the citizen. It is, and always has been, about protecting “them” from being like you.” —Bob Krumm
It’s also why the Fed loaned trillions of dollars to the world’s largest banks. Government exists to protect the political class at our expense.
Always has, always will.
Well we certainly can’t have the government being treated just like everyone else, or being held to the same fundamental economic realities now can we?
Good post and dead on point Alan…
Who’s in your wallet?
Fascist corporatism at its finest! Just remember who got you 50:1 ratios and pay bonuses when your company should’ve closed! Right! Now give ol’ Uncle Sam some sugar.
If government exists only to protect the political class, then the Constitution is useless. Burn the government to the ground, and never let another one take root. Ever.
I keep saying the wrong side won the Whiskey Rebellion.