http://www.myfoxdetroit.com/story/20264712/detroit-councilwoman-to-obama-we-supported-you-now-support-us#.UL9ceqMvNRE.twitter
Detroit seems to think that since they voted to re-elect El Jefe, that they can now get some sweet, sweet bailout cash.
From where?
The US government is, if you couldn't tell, not exactly flush with funds.
This "fiscal cliff" that is coming - as the commentator and political philosopher Jon Stewart said - is completely self inflicted. Therefore, to the Crazed American, it is not an issue. There is a larger issue, the proverbial 800 pound gorilla in the room everyone refuses to acknowledge.
We're quickly approaching the point where all the revenue of the US will be completely subsumed by debt payments. This debt cannot be paid off, to say nothing of the unfunded liabilities, which by some estimates range from $40 TRILLION to $540 TRILLION dollars. The New Deal / Social Security model, with 30+ years of retirement, is over. People my age will NOT see it. There is now no way.
Expect the following: All 401K's will be seized (in one form or another) by the US Treasury. It will all be invested in US Government bonds. This will have the effect of cratering the stock market, but will be one of the only remedies if one of our foreign sources of capital (creditors such as Japan, Britain or China) either decide to stop lending, or run out of cash. It will attempt to be ameliorated with a portion of the new federalized retirement fund being allocated to a specific group of companies that will benefit. Also, do you think for a moment that there might not be just a speck of corruption that enters in there? The .gov will contribute to companies that play ball (ala Google) with surveillance or other programs the .gov finds useful.
Currency default is on it's way. The fact that the US Treasury is on the course to phase out pennies and nickels (and possibly dollar bills) means that the US Dollar might just be on it's way out the door. Or, if they decide to "keep the dollar" they'll change it's value, or "base" it on gold. No matter what happens, it WILL continue to inflate, at a steepening rate.
The Fed or the Treasury could start buying up mortgage securities in order to prop up the big banks (oh, wait that's already happening to the tune of $40 Billion a month).
No matter how you cut this stinking, rotten fruit, it's going to be unpleasant.
What can you do? As for this Crazed American, it involves reducing or eliminating debt, building a liquid cash reserve (both in bank and physical cash). If you still invest in the stock market, minimize your risk, and be ready to pull it should conditions change drastically. Also planting a garden, getting to know my neighbors and paying attention to local political issues is critical. Discussing with Mrs. Crazed American topics that range from losing a job, to getting stuck in a whiteout, to having to exist without one or more utilities.
I do not think we are headed for "Lord Humungus, Warlord of the Wasteland, face colanders and V8 Interceptors" time. A full blown collapse to the point of lawlessness isn't likely. The Government is well served to keep the power on and the water running. Critical infrastructure is listed as critical for a reason. Pockets of breakdown (riots, mass looting) are unavoidable, especially in the populated and truly desperate locations (such as Detroit, LA, Chicago, New York).
Of course, all bets are off if the .gov can't keep people fed, the lights on and the water running for more than a short time.
Long story short - when it comes to this bullshit "Fiscal Cliff": bring it, let's see what happens, and if necessary, and it pains me to say it...
Let it burn. Over the cliff we'll go, and as the Sage Mr. Stewart said, "...for a few seconds it'll feel like we're flying..."
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