IMBECILE:
Informal. a dunce; blockhead; dolt:
Nations, like the people who compose them, have also demonstrated that they are unqualified to responsibly function in a world of unlimited credit. Here in The United States of Debt, federal debt has exceeded $21 trillion, corporate debt has topped $6 trillion [ed note: this is only the amount of non-financial corporate debt issued in the form of bonds – the actual total is around $20 trillion (PT)], and total household debt has reached a record high of over $13 trillion. In other words, the country, as a whole, has gone full imbecile.
Large segments of the American populace – many involuntarily – have been reduced to abject debt servitude. On the flip-side, the entire structure of Social Security and Medicare entitlement programs is on the brink of collapse.
The Treasury, in concert with the Federal Reserve, will indeed go full imbecile. They will create money from nothing to make good on their obligations. But in the process, they will end up destroying the currency.
Massive amounts of debt, made possible through a debt based fake money system, have brought today’s many unique possibilities for destruction into existence much sooner than would have been possible otherwise.
Maybe IMBECILE is the wrong descriptor to use here, I'm thinking the correct word maybe STUPID.