by DAVID BROWN | CLEARNFO.com | August 30, 2014

Now I can prove to you that according to GAAP (Generally Accepted Accounting Principles), the US is bankrupt: see link below. Of course technically, a country like the US whose currency is the world’s reserve can’t go bankrupt, we just print more money; but the seriousness of our financial condition is nonetheless just as critical and no one has a plan to fix it.   We are in uncharted territory and we are numb with uncertainty.   Our government and financial institutions continue to get what they can while they can before this whole charade collapses. No one knows when or how, but there is a general dread amongst most here in the US when the day of reckoning finally knocks on our front door. In the meantime, we scurry about trying to get as much socked away as possible with no long-term proactive plan to mitigate or fix what I would term the worst financial crisis in the history of the world. This feeling of dread beneath the celebration of the recent stock market highs insinuates itself into every sinew and tissue of our society; and the result, is a society who has forgotten its virtue and its values and has chosen rather to render for processing what cattle are left as soon as possible. I would postulate that this is the proximate cause of our willingness to tolerate the criminal activities of our Federal government and the endless wars it has started; thinking –of course– what matter does it make at this point anyway since it will all be falling down around our heads at some time uncertain.  We will get the tyranny we tolerate.

Sobering Numbers