Blather

Above is a nice chart showing total debt to GDP - not including unfunded liabilities (social security, medical, pension etc.) Even without these liabilities the numbers are impossible. Add in the unfunded liabilities and you get total debt moving from 300-500 percent of GDP to around 1000-2000 percent of GDP.

Yet all we hear from the Politicians, corporate economists and commentators is absurd blather about "Getting the government out of the way so that the Free Market can grow itself out of this mess."

It's as if the global economy was a Good Fairy, and the Government an Evil Goblin, and if we could only release the Good Fairy from the clutches of the Evil Goblin she would wave her Magic Wand, and Love would wash over our Fair Land.

First off, there is no such thing as a Free Market. It is a nonsense phrase that people with tiny little brains use to talk about a Fantasy World that exists only in their memorized talking points.

In the real world we have a group of Central Banks that create money out of thin air and distribute it to Member Banks who gamble it in the world markets. Of course, any individual is Free to try to gamble against the Banks, as long as they use only the money that the banks print and lend to them. Of course, if the banks lose on their bets the Central Bank will create more money and give it back to them. Thus any money you win from the Banks will be hopelessly diluted by the new money they print to cover their losses.

Welcome to the Free Market.

There is only one politician who even gets this reality, and that's Ron Paul, who is a pariah even in his own party. Nobody wants to hear it.

And that's really too bad. Because until we stop the blather and start talking about the real problem, nothing's going to change.