The Debt Ceiling Farce as a Scare Tactic: 10 Reasons Small Business Owners are Fed Up

       Let’s consider another view of the economy right now and that’s to question whether or not we have helped the mega-corporations at the expense of small business. What if there is no recovery, but simply just another bubble which is creating “Too Bigger To Fail” companies, and what if the debt ceiling hike is just another way to kick the can down the road. Maybe we need real change which means fundamentally restructuring the financial industry and bringing back Glass Steagall. Additionally, the government needs to end Too Big To Fail, and start letting the free markets find natural price discovery in the equity markets which have been juiced by the largest stimulus in the history of the world at the expense of the US Dollar, savers, and small business owners. It’s time to create an economy that is not dominated by monopolistic interests. In other words, the banks went to Vegas, lost 500 trillion, and said to the taxpayer “you have to pay this gambling debt, or the economy will implode.” That’s the problem and there is one word that sums up why we are where we are in this depression and that word is “derivatives.” The cure for derivatives is Glass Steagall.

       This year’s debt ceiling fiasco is actually a good development for the US citizen and here’s why: our government wants to devalue our way to prosperity and that’s the wrong way to go and this debate is a huge wake up call that Americans don’t want our tax dollars going to banksters and insiders anymore.

       Geithner and Bernanke are also for all intents and purposes agents of the mega-banks and the fact that we may actually get a downgrade would be very consequential to them, even though the rating agencies are little more than prostitutes for the financial engineering system in place.

       IF the AAA status is lost, the banks will have to dump paper and their clients will be stuck because they have strict AAA mandates. The problem here is that the debt of the US and the states are essentially insolvent whether or not the US Government gets downgraded or not.

       Keep in mind, Moody’s and S&P are basically full of it, and they should really not have any credibility whatsoever at this point given their track record with subprime and the financial crisis of 2007 and 2008.

1. The debt is already too high and spending needs to be cut and stopped ASAP before we head for total meltdown.
2. Keynesian economics only works when your nation is not bankrupt already
3. We need a return to hard money.
4. We need to bring back Glass Steagall, and if our debt is downgraded this would help get at the real problem with the US economy which are derivatives!
5. All of the ideas presented give more to the rich and out of the pockets of the poor.
6. Stocks need to come down as they are extremely overvalued and in a speculative bubble.
7. We need a rally in risk on trades and a bear market for risk. Savers need to be rewarded and that means tax hikes, a balanced budget, and no more debt.
8. Corporate America is far too powerful and a no vote would slap them with some reality — we need jobs not a bull market for automation.
9. Wall Street’s latest IPO tech bubble might actually pop.
10. Geithner and co. will have to stop spending on Shrimp on Treadmills.

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