The Tide Is Going Out On The Collapsing, Corrupt US Government

When the tide goes out, it reveals a lot of ugliness that was hidden underwater. In times of prosperity (or apparent prosperity), weakness, duplicity and corruption is hidden from view or deliberately overlooked. Few want to point out the fallacies — after all, everyone is doing so well and having such a good time. Why argue with success, even if it comes with a bit of corruption? Surely the success is worth a bit of corruption.

The apparent prosperity is gone and increasingly viewed as a fraud that would do Charles Ponzi proud. It was (and still is) centered in our financial system and encouraged by the political class. Nests were feathered while the public was looted.

Each ebbing of the tide brings more corruption to the surface. Covering up the fraud becomes more difficult as government’s ability to throw money at the problems decreases. Our banking system still pretends to be solvent, although that too will be shown to be hollow at a later stage in this crisis.

The most recent debacle is the scandal involving our government sponsored enterprises known as Fannie and Freddie. Add another $6 Trillion of liabilities to the taxpayer tab courtesy of this fraud. It is not yet officially recognized as part of the $16 Trillion debt of our government, but that is merely government obfuscation. Taxpayers, you have been raped again!

Here is Doug Ross’s take, with the help of Tyler Durden: