Posted Mar 15, 2015 by Martin Armstrong
QUESTION: Do you really think austerity can come to the USA?
ANSWER: No. However, that is the issue which is likely to split the Republican Party for 2016. That is why the Solution cannot be simply cutting taxes or raising taxes. Obama raised taxes so far by more than $2 trillion and he is asking for another round of more than $2 trillion. He will destroy the US economy and convert it into Europe. At the same time, trying to reduce spending is like hoping Santa Claus is real. Any Solution that will get past the first step into Congress has to be something that offers a completely new approach to a system that is unsustainable yet allows them to still spend money. As far as political reform and term limits, well that’s another problem.
We will present this at the Solution Conference and introduce a bill on the Hill. That will at least start a constructive debate. We have to come up with something soon for when the crash and burn comes, they will grab whatever is on the table. The way things are going, the bankers will preach SOUND MONEY just as FDR’s Brain Trust disagreed with the New Deal. So we will have the bankers lining their pockets to get their ears and that will be more austerity if they get their way. But that will be authoritarian – not liberty.
This is not a time for gee, think this might be a good idea. This is a time to consult history and take the best from numerous events and look at what worked. We all have opinions just like assholes and they say most opinions come from the latter rather than the brain steeped in self-interest. This is something that can be implemented if the time is right.