Time’s Up

by Karl Denninger, Market Ticker:

It is no longer a matter of words.

The transfer of power, which our nation has undertaken 44 times in succession using votes, words and oaths, has been completed.

You are probably feeling either elated, dismayed, horrifyingly*****ed off or ready to commit suicide.

All of that is folly.

During the previous 8 years, which many believed was going to augur in a new age for America of equality and progress for all, you got none of the above. The national debt, which I remind you only has value because you are willing to go to work in the morning and pay taxes, doubled during those eight years. In “real” terms (if you believe government statistics — that is, you don’t buy food, fuel, medical care or anything similar) you have a lower income. There are nearly a third more people on food stamps. Seven million more American live in poverty today than did in 2009.

You may be “thankful” for Obamacare if you couldn’t get “insurance” before, but in point of fact you ought to be*****ed. You ought to be*****ed off because you shouldn’t need health insurance for anything other than a catastrophic event you could not reasonably foresee, such as cancer, and the cost of everything medical, including cancer treatment, should be anywhere from a fifth to a tenth of what it is today.

You may be “thankful” for more college loans but in fact you shouldn’t need them at all. You used to be able to flip pizzas to pay for college, and the reason you can’t today is those loans. Calculus, literature, physics, chemistry, history, political sciences — these things have not suddenly gotten more-complicated or expensive by a factor of ten.

But no, this is not Obama’s fault. You can blame him for a lot of things, but not these.

That responsibility — and fault — is yours.

You cheered on the doubling of the national debt, a load that has added over $30,000 to the amount each of us is allegedly obligated to pay — including yourself, your children and grandchildren. You are responsible for that because you not only allowed it, you cheered it on.

You did not demand an end to medical monopolies; you instead said you wanted “insurance”. You got Epipens at 1,000% of their price in Europe, insulin rising in price by nearly as much, a rattlesnake bite coming with a bill for $200,000 and more – along with crap “insurance” that, if something serious goes wrong, is still likely to bankrupt, kill you — or both. One dollar in five, approximately, spent in our economy goes to this scam today. You could stand up and demand that everyone involved in this crap go to prison; after the first hospital administrator and pharma exec was indicted prices would collapse by 85% or more in an afternoon and you would no longer need “insurance.” But you didn’t do that and still won’t — and thus you got stupidity like this. You also have brain-stem class idiots making claims in articles such as this one, where clown-faced medical monopolist apologists prattle on about savings of “$7 billion a year” against a cost of $1,400 billion and claim it would be significant.

You did not demand an end to the insanity of educational “loans.” As a result your children are told they need to borrow $100,000 to study in college — a pure act of robbery of not only the $100,000 but also all of the interest on it that they should have been able to keep with the knowledge they got from their education. Even if the field they go into pays well enough to cover it you still screwed them out of a house or roughly five middle-class cars when you get right down to it. In short you ****ed your kids in the ass on purpose, and some of you screwed yourselves at the same time by taking out “PLUS” loans. What’s worse is if they take out those loans and then can’t find work at a salary sufficient to pay it off (or worse, fail to complete their course of study for any reason at all, their fault or not) then they’re really screwed because you also sat still while these loans were made “guaranteed” by the government and unable to be discharged in bankruptcy. You could have demanded an end to all of that, and a 4-year bachelors degree could have been had for $10,000 all-in. It still could happen today, if you cut the crap and both made and pressed those demands — but you didn’t do that either and still won’t.

But the true sadness isn’t over these issues, when you get down to it. It’s over something much more personal.

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