The monsters behind the masks

"So long as we have monsters behind masks telling us lie after lie, many will just trip along fat dumb and happy. Spend like crazy today, and let our kids, grandkids and beyond figure it out when the bills come due." 

Monsters? What monsters? This is August, not Halloween, for crying in the beer. And what is this thing about a mask? Why so cryptic? Speak truth Bird! Okay, I will. The monsters I am talking about is a country wrecker. And it is a country wrecker which is self-imposed. On a much smaller scale, it can be a family wrecker. Or wreck an individual. I am talking about debt, and lots of it. INYMI, the amount of individual debt, has set a new benchmark.

So what? The economy is roaring right now. I was just listening to Kamala Harris, and everything is red hot. She and Joe Biden have created a zillion new jobs, and everything is hunky-dory. Except for one thing. Personal debt is now over $5T, which is twice as high as it was in 2011. And (this is the real scary part) - of that $5T, $1.142T is credit card debt. That is an average credit card balance of $6,500 per person. 

Again, so what? With growth comes debt - right? I mean, look at America right now. We just hit $35T in national debt. And with that, Biden and Harris have told us things are just fine. The stock market is up. People are working. We all owe some money. Big deal.

Here is what the big deal is. The money it cost us now to service this debt (now that Biden and Harris' inflation has juiced the cost of borrowing) is about $700B. That is money down the toilet. We get NOTHING is return for that money. In comparison, our defense budget is about $100B higher than the cost to service our debt. Soon, our national debt will eclipse our defense budget. That is a big problem.

Who then, are the monsters behind the masks? They are the ones who have been gaslighting us about the economy. Lying to us. Hiding the real problems with how our economy is growing. Here is the truth as I see it. It is true we are going 100 mph right now. That is the good news. But we are going 100 mph towards a brick wall. We can take our blue bills, put our blinders on and ignore it. But it is coming. And it is getting closer. 

Will the monsters behind the masks ever tell us the truth? Nope. In fact, Biden was meeting with some media guy yesterday to discuss his legacy. "The most robust economy in our history", Joe told the tool doing the interview. Really Joe? So long as we have monsters behind masks telling us lie after lie, many will just trip along fat dumb and happy. Spend like crazy today, and let our kids, grandkids and beyond figure it out when the bills come due.