News item: The "SuperCongress" caves to partisan deadlock, and adjourns with no deficit-cutting agreement.
The result is that automatic cuts will kick in that almost no one wants. Conveniently, the real action is delayed until after the election. Although Republicans choke on the concept of raising revenues through fair taxation, their cherished Bush tax cuts are also schedule to expire at the end of next year.
Unfortunately, world events may not wait for the US to sort out its leadership deadlock. Europe is skating ever closer toward the abyss. A complete collapse of the world economic order is not out of the question. The Dollar benefits from safe-haven attraction for now, but a Eurozone meltdown would be uncharted waters for sure.
Meanwhile, rumors persist that the PTB are gearing up for a major outbreak of war to mask economic issues. Actually "issues" is a polite word - we are really talking about major crime and fraud. When the house of cards really begins to tumble, the massive extent of mortgage and securities fraud that government agencies colluded with will inevitably surface. The public wrath that will arise when people understand how their wealth was sucked out of the economy will make the current "Occupy" protests seem like Sunday School.
Kind of make sense in a twisted, fucked up way - Risk blowing up the world or else watch our political and economic system get blown up. Either way, people's lives are at risk, and the perps are determined to ensure that it's not theirs.
Lynn
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