Stephen Bové - Art, Technology, Right Action

Monday, February 05, 2007

The Largest Government Intermediated Transfer of Wealth in History


debtgraph3_500
Originally uploaded by sbove.
My Country, Tis of Thee, Sweet Land of Highway Robbery

"When President Bush took office five years ago, the national debt was at $5.6 trillion; since then, big budget surpluses have collapsed into huge deficits, and the debt has shot up nearly 50 percent."

That's $3 Trillion in additional debt in 6 years.

That's $20, 000 per US tax payer (assuming ~150 million tax payers, which is generous)

That's $400/mo each for five years to pay down, assuming a 6% rate of interest.

Thank the shrub for deficit-spending a new Prius Hybrid on behalf of every American tax payer.

Thats how huge that number is. Each of those Prius's is 175 inches long...that's 14 feet. If you lined all 150,000,000 of them up, the line of cars would go on for 340,000 miles...a line of Priuses going around the world at the equator 13.6 times. Can you even conceive of the enormity of this??? If you can think about that number and imagine George Bush talking about "getting America un-additicted to oil" and not projectile vomit on the nearest W-supporter, well, you're "like a rock only dumber" too.

3,000,000,000,000.

The interest on this is ~$750 million PER DAY.

That's enough to buy an additional 37,000 Prius cars per day. Toyota only sells 8,000 Priuses per month at the moment. That's enough to rebuild the world trade centers 1 per day, 365 world trade centers in a single year. Just on the debt service. My fellow Americans, you, we, have been fucked like cheap whores and left to grovel for burritos at a rat infested road-side taco stand while the Johns/Carls/Georges and Dicks drink Champagne in their $35 million Gulfstream jets en route back to their palaces in Houston, Dallas, Aspen and Kinnebunkport.

John Doerr, the now fading top VC of the Internet days, was oft quoted as saying, "the Internet represents the largest legal creation of wealth in the history of the world."

Well, the whole Internet sector generated about 1 trillion in market cap at the peak of the bubble.

The whole Internet (all the new .com companies in the US during the period between 1994 and 2001) drew a total of around $100 billion in venture capital. 7 years, $100B in capital, $1Trillion in market cap. All of that in one of the most positive, life affirming, intellectually stimulating, hope building market movements ever witnessed by our fair nation.

What Bush and his criminal cronies have done makes this look like the merest form of financial child's play.

6 years, 3 trillion in debt expenditures, most of it for a worthless inhumane war that has instigated the killing of over 100,000 civilians, fomented a full-on civil war in Iraq, driven the price of oil to record highs, and will leave the USA diminished in all respects domestic and International.

The boys from Texas really hated Clinton. They put up with him and his saxophone playing, cigar-dipping, leftie, not-inhaling, San Francisco-loving, Internet-crazy long-hairs for 8 years. But when they stole their day in the sun, well they gloated in it with a vengeance and took the country to the cleaners. They played the horrific ignorance and fear of the religious right like a country-fiddle and presided over the LARGEST GOVERNMENT INTERMEDIATED TRANSFER OF WEALTH IN THE HISTORY OF THE WORLD. I shit you not. Find me a bigger financial fleecing and I'll let you buy me lunch at McDonalds (but I still won't eat any of their cruelty-infested meat products, mind you).

There are a few of us who have been watching and wondering when the rest of the country will figure out how badly they have been duped and robbed.

I don't know if that will ever happen, but, I hope it does before these condescending bastards make off with another trillion or 4 of OUR money.

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