Monday, June 14, 2010

Broken Forever: The Biggest, Richest Piggy Bank in the World

The richest piggy bank in the history of the world has been broken, its porcelain shell shattered into a zillion pieces never to be put whole again. While Barack Obama will be remembered by history as wielding the final blow that broke the bank, the truth is that American politicians have been sneaking and snorting little piggy's riches at a prodigious rate for decades. of Americans have poured their life savings into the supposedly theft-proof piggy, falsely confident that their money was safe. Even today, workers continue to divert nearly one-sixth of their earnings into the shattered piggy, oblivious to the torrents of cash pouring out the backside.

In 2009, for the first time in its seventy-year history, Social Security paid out more cash to retirees than it collected from wage earners. Given that it has no hoard of cash, having already lent to other departments in the federal government every unspent cent it ever collected, funds for which there can be no hope of repayment, ever, Social Security will begin borrowing to support its beneficiaries.

It will borrow this year and every year from now until the end of time. It will compete with all the other borrowers in the market, home buyers and companies, governments around the world and our own government.

It has become a house, a skyscraper, of cards. Its commanding height maintained only by wishful thinking, at risk of failure at little more than the wing-whisper of a passing butterfly.

The world's richest piggy bank lies shattered, empty, exposed as a Ponzi-fraud, a financial crime against humanity, perpetrated by America's rulers against America's people.

There can be no forgiveness for what they've done, no apology acceptable.

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