k

Unless we attack the debt structure directly, there is no point in counting upon any government to help mitigate the problem and more-likely-than-not, our very future may be recast in so many ways, the level of frustration will rise, and that leads to war because war distracts the people from hanging their own politicians. The oldest trick in the book is to blame the guy next-door down.Unless we are honestly prepared to truly1) reorganize the structure of government,2) reorganize the entire debt structure both private and public,3) regulate leverage,4) restore usury laws that will free up personal income, and5) look at just eliminating the federal income tax in combination with6) establishing a new national heathcare system that will restructure all pension plans public and private, there is not much hope for the future from government.Our definition of money (M1) does not include bonds so we can fool ourselves by issuing $10 trillion in bonds is different than printing the cash. It is still money. Taxes are needed in a gold standard where money cannot be created. Stop competing with the states, control the budget as a percent of GDP, increase the money supply to that degree, and stop the taxing when money is created by leverage and velocity anyway. This will restore jobs and inject huge confidence as in 1964 when the payroll tax was cut permanently. One-offs never work. People save the rebates for a rainy day. We need real honest reform since the stateswill go broke and seek handouts as well. So, it is time to get real. It is time we restructure the entire system including the banks which always cause the problem. We don't need excessive regulation of things that did not create the problem when the real culprits always escape.You may send comments directly to Martin Armstrong at ArmstrongEconomics@GMail.com. "