Who shall bailout the bailers?

Is there any western nation out there—Canada, Germany, and Australia excluded—who doesn’t need a bailout?

And can those funding national-level bailouts (using ever-increasing amounts of newly created and self-borrowed money) continue this game forever? Despite the attractiveness of denial (“this time it’s different”), the evidence suggests things that can’t continue forever won’t.

So a question of growing significance is “Who shall bailout the bailers?”

Yet isn’t the answer obvious? Our “global leaders,” of course.

However, these are the same political, social, financial, and economic rocket scientists whose actions suggest they believe debt can be deferred indefinitely, inflated away, borrowed at costs approaching zero, or written down without serious impact. The same global leaders who can’t or won’t make the decisions that normal households do under similar circumstances every day (like choosing to live within one’s means).

These are the same global leaders who manage to equate “austerity” with government growth and “growth” with more government growth. It follows the admonition to never let a good crisis go to waste and the outcome is a continued erosion of freedom of choice and conscious, surrendered to those insiders who are wiser (market interference of all sorts, green jobs, national debt, tax policy, invented “rights,” regulation, etc.) about our own good than we are ourselves.

Debt-wise, as the U.S. is not much better off than those in crisis and since the Fed/U.S. government has long been the bailer of choice, who shall bail the Fed/U.S. government out?

Or alternatively, who will have to bear the results of their failures?

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About Professor Mockumental

I enjoy almost all forms of parody, buffoonery, and general high-jinks. Satire has shown itself to be an essential societal need; I therefore humbly offer my services in such a manner. I enjoy mocking the usual suspects at the New York Times (Charles Blows, Moron Dowd, and the earth is flat guy) and Washington Post (Dana Milkbag, E.D. Dijon, and David Ignoramus). There are many others as well, but sadly, there are always too many targets and too little time.

Posted on May 20, 2012, in Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

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