The History of the Decline and Fall of the American Hegemony—Chapter 2 Excerpt—National Debt

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Following is a Chapter 2 excerpt from the Complete Article, as the Complete Article is cited as a 40+ minute read. This excerpt is edited, updated, and has differences from the chapter as first published. This excerpt contemplates reference to the Complete Article to be understood as presented.

2. The National Debt.

The national debt, within limits, is also not inherently bad. Leveraging debt is a powerful mechanism to increase life value, when the debt seeds production. [17]

Consumption without profitable production by the work of another is a draining dependent, which is systemically acceptable only for children or the statistically special need exception. Indeed, “You cannot help men permanently by doing for them what they could and should do for themselves,” said sage Abraham Lincoln, who knew how to save a country.

National debt to leverage for productive resources tends to be a good thing, but debt on debt to survive to consume and to consume, not so much. It is formulaically unsustainable. Failure is assured, it is only a matter of time. Wall Street only cares that the market moves predictably, and the term of sustenance is longer than the life of the person who will benefit from the transactions.

Lest we forget, debt must be repaid. The bondsman cometh. [*17] All debtors are slaves, by definition. But I’ve overstated it, rather someone is enslaved, we or our children. False prosperity for someone is always easier in a framework of slavery because the benefit and burden are disjoined. It will work for a time.

So said Dickens by his Prophetic Marley to Ebenezer, “We wear the chain we forge in life, we made it link by link, and yard by yard. It is a ponderous chain!”

The national debt is $34T, that is $34,000,000,000,000, a new link of someone’s repayment slavery created every second. It is a ponderous chain!

It takes time from life to pay back debt. That’s the way debt works. [18, 19]

Indeed, it is a ponderous chain, and, depending upon how many citizens have it attributed pro rata, it’s somewhere between 175,000 and 260,000 links per person—that is, $175,000 and $260,000 per person. [20]

A new measure, “Links Per Person (LPP)“. Each grave dollar of national debt is another ponderous chain link of slavery. We forged it, we made it link by link.

We just look rationally at that ticking ponderous Debt Clock. This should be in the background of every politician stumping to spend more on debt, showing the correlation to time, slavery, and death by LPP. Look at it, The Debt Clock. Alas, the Death Clock.

There may be brilliant people, probably wealthy financiers, who will profess that we should not look at the national debt as a bleary-eyed debt-strapped middle class worker, [21] who is living paycheck to paycheck, and trying to work to pay back a credit card for the Wall Street effected foreign-made car, the foreign-made flat screen television, and the foreign-made clothing, while also trying to pay back his $200,000 pro rata share of national debt that keeps going up, all before his first cup of coffee in the morning. Yet there it is, haunting him.

As a common man, he might not know the specter of what’s hitting him, but he feels the pain all the same. Behold, the days in his life are not enough to repay his debt, but it will take someone else’s time.

Someone is indentured by the debt, now or later. That’s the way debt works.

Debt is a Faustian trade in life-timing. “I’ll gladly pay you Tuesday for a hamburger today,said J. Wellington Wimpy, being a “self-centered[…,] intelligent and educated, a lazy coward, a miser, and a glutton.

Intelligent and educated financiers or politicians may vainly try to excuse some debt as a debt of a nation to its own citizens, who pay the cost of the tax that pays the interest on the interest and the new borrowing to pay more interest. But that is a rhetorical sidestep. The issue now is not how this catastrophe was created, but how will it be destroyed and repaid. Brilliant financiers said it’s all too big to fail, until it failed. [22, 23]Wisdom is vindicated by her works,” says Jesus, and each financial manipulationeach failure-required bailout that feeds upon itself—proves the works ain’t working. [24.1]

If Wall Street and the brilliant educated financiers really knew what they were doing, the country would not be debt-strapped, with inflated dollars, bound into foreign wars, needing bailouts, and all while selling off domestic industry.

Educated brilliant intellect does not a sage make. [*6, 7] What the academic brilliant wonkish narrative does not express, being too painful an admission of fault, is that the only probable way that America can repay the ever-growing $34T national debt is by hope, prayer, luck [25], or to be victorious in a war with the creditor, and then writing the history, smugly self-justifying a self-interested determination that the debt was the losing creditor’s own fault. [26, 14]

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[20] https://www.zippia.com/advice/working-age-population; https://usafacts.org/articles/what-is-the-us-national-debt-and-how-has-it-grown-over-time/?utm_source=bing&utm_medium=cpc&utm_campaign=ND-ElectionsGov&msclkid=902217b370f613d502bb7273af761b54 [$36,000,000,000,000, divided by 207,406,609 working age is $173,572 or at two third middle and upper class feeding the system debt of 136,888,362 $262,988]

[24] ONE®: The LinkedIn Reference Set [#GRZ_183] 24.1 ONE: 1022 [T11:19] (“Wisdom Vindicated By Works“); 24.2 ONE: 1325 [T15:14] (“Blind Lead Blind-Ditch“); 24.3 ONE: 296 [L4:23] (“Physician Heal Thyself“); 24.4 ONE: 1661 [T18:6, R9:42, L17:2] (“Millstone); 24.5 ONE: 1143 [T13:13, R4:12] (“Perceive“); 24.6 ONE: 1040: [L10:27] (“Love Neighbor As Self“); 24.7 ONE: 582 [T6:24] (“Serve Two Masters“); 24.8 ONE: 635 [T7:20, L6:44] (“Tree By Its Fruit“); 24.9 ONE: 921 [T10:10] (“Workman Worthy Meat“); 24.10 ONE: 2632 [T26:50, L22:48] (“Betray With A Kiss“); 24.11 ONE: 514 [T5:30, R9:43] (“Right Hand Cause to Sin“); 24.12 ONE: 577 [T6:21] (“Heart Treasure“); 24.13 ONE: 1661 [L10:33] (“You Are Gods”); 24.14 ONE 1747 [L17:20] (“Kingdom Within“); 24.15 ONE: 799 [T9:17, R2:22, L5:37] (“New Wineskins“); 24.16 ONE: 2121 [T22:20, R12:16, L20:24] (“Caesar Coin Tax”); 24.17 ONE: 373 [J2:25] (“Human Nature“); 24.18 ONE 2211 [T23:25, L11:39] (“Inside-Out Hypocrisy“)

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A Farmer had a Goose that began to lay golden eggs.

Each day one new golden egg would be laid by the Goose, and the Farmer grew very rich. However, the Farmer was impatient and tried to get the Goose to lay more than one golden egg each day.

In desperation for even more golden eggs, the Farmer cut the Goose open to get all of eggs at once! And, when he cut the Goose open, he got only the death of his Goose, and no more golden eggs.

Moral of the Story: Unsatisfied with some, we lose all. [99, *58]

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The statements or opinions made in this article are solely the author’s own and not representative of any institution regarding which the author is affiliated.

© 2024 Gregg Zegarelli, Esq. Gregg can be contacted through LinkedIn.

https://www.linkedin.com/pulse/history-decline-fall-american-hegemonychapter-2-gregg-zegarelli-esq–jjece

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