(S)ome of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.The government can't even figure out how much money they supposedly need, and so they make it "a really large number" and get both major parties' leaderships to run around yelling, "Doomsday!" Is this hubris, sheer stupidity, or both?
"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number." [emphasis added]
History can be cyclical. Scarily, I see pieces falling into place for a major global war in 10-15 years, if not sooner. This is largely predicated on the belief that America will enter a severe economic crisis, that interventionist politics will prolong the crisis, and that America's lack of attention to foreign affairs in the interim will permit the rise of at least one major nation-state enemy who will directly and forcefully challenge American power, up to and including a military assault/major terrorist attack (with ensuing claim of responsibility). The ensuing war will permit the government to expand even more forcefully. Hayek argued as much in Road to Serfdom. Orwell in 1984 picked up from there.