White House Burning

White House Burning

The Founding Fathers, Our National Debt, and Why It Matters to You

Book - 2012 | First edition.
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75,000 1st print. By the authors of the national bestseller "13 Bankers", a chilling account of America's unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower if it is not addressed soon, and why this might be impossible given the hypocrisy about government deficits prevalent in Washington today. With bracing clarity, "Deluded" explains why the national debt matters to your everyday life. It gives a clear account of the ways in which the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II. It analyzes why this is no longer possible. And it makes unquestionably clear how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.
Publisher: New York : Pantheon Books, [2012]
Edition: First edition.
Copyright Date: ©2012
ISBN: 9780307906960
Branch Call Number: 336.34097 JOH
Characteristics: 352 pages :,illustrations ;,25 cm
Additional Contributors: Kwak, James

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StarGladiator
Apr 20, 2014

Hmmm, nothing about taxing all that money offshore? Hmmm, nothing about the weapons of mass financial fraud, credit derivatives? Hmmm, nothing about hedge funds and private equity/leveraged buyout firms? Hmmmm...Johnson is a senior fellow at the Peterson Institute, founded by David Rockefeller and Peter G. Peterson, dedicated to destroying Social Security, Medicare/Medicaid, offshoring as many jobs as possible and bringing America into adherence to the WTO's Financial Services Agreement, especially the Fifth Protocol [foreign ownership of banks, and those foreign banks accepting credit derivatives as valid financial instruments]. What's wrong with this picture? Hopefully, you've caught on by now: Johnson, and his buddy, Kwak, from McKinsey, which has earned its major bucks over the past 24 years in the offshoring of American jobs, are phonies. [If you do choose to read anything by those two, please be sure to also read Das' Extreme Money and Shaxson's Treasure Islands, and Nomi Prins' All The Presidents' Bankers.] Of course, the super-rich OWN the tax code, just as during the Bush administration they cut out the high-roller division of the IRS [the guys who went after those super-rich and top corporations who cheated on their taxes, which garnered the greatest revenues for the IRS], we now have the Obama administration granting legal immunity from prosecution to the banks for committing millions of felonies by filing false affidavits in their fraudclosures, and also violating the Law of Fraudulent Conveyance.

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delfon
Jun 21, 2012

http://baselinescenario.com/
One of the best books on the current crisis hitting USA; with a generalized focus such that one can apply their conclusions, assertions and theories to Canada as well. In recent years
(early 90's) a national nutbar was comparing national debt to homeowner debt; a false, misleading and corrupting comparison if ever there was. Deficits are sustainable, and are NOT a drain on future generations. Money is borrowed in the here and now, not in the tomorrow.
All in all a good read, but better if one was to read the notes first.
Interest rates are set to rise to
8.75% by 2021 for Treasury notes; how does that affect mortgages, loans or savings.
There's lots ot digest in this.
Howevre, Naylors, 'Hot Money and the politics of debt' is also a good companion to this.

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