The current political status quo, however, is built around protecting investors\u2014rather than the taxpayers who ultimately pay all the bills\u2014from risk. This method of turning debt into inflation is attractive to governments and their Wall Street enablers because it shifts the burden of runaway spending to ordinary savers and consumers. They are the ones who pay the real price of de facto inflationary default through price inflation, unaffordable homes, stagflation, and falling real wages. <\/p>\n
When the experts who oppose any sort of explicit default insist that default would bring disaster, what they really mean is that it would bring disaster for their friends on Wall Street and in the government. The experts prefer the status quo which is a slow-motion inflationary disaster that’s playing out in the household budgets of ordinary Americans<\/p>\n
https:\/\/www.zerohedge.com\/political\/mcmaken-three-lies-theyre-telling-you-about-debt-ceiling<\/a><\/p>\n Oh, and the US has defaulted at least five times before: 1790, 1862, 1934, 1971, 1979<\/p>\n","protected":false},"excerpt":{"rendered":" The current political status quo, however, is built around protecting investors\u2014rather than the taxpayers who ultimately pay all the bills\u2014from risk. This method of turning debt into inflation is attractive to governments and their Wall Street enablers because it shifts … Continue reading