Youth Riots and Broke Governments: What Loss of Faith Really Means

1. London has turned into a poor youth mobs cry for attention. Criminality is occurring, yes, but at a "copy-cat" level which means the youths are inspiring themselves to express their identity with other youths who don't belong to the moneyed society. These are the same youths in MENA who rioted in the Arab Spring air and youths in China who are part of the tens of millions vastly underpaid or under employed. These are the 100s of millions of youths throughout the world who've become the tossed salad of FAILED MONEY SYSTEMS. It's sad but the end of this story will be counted in deaths. Pray for rain. When it rains in England, nobody sane or insane can bear to go out. Some youths who had thrown bricks at a flower shop and set it on fire were casually walking away and were asked why they did that. One of them said, "We have no money today." See: http://www.bbc.co.uk/news/uk-england-london-14450248. Cameron et al better show a credible hand or London's chance at having a celebratory Olympics next year will be destroyed by a couple thousand roving gangs--much like Paris is during recent years.

2. After the US government showed its supreme incompetence and idiocy NAKED to the world on August 2, 2011 by enacting a bitterly cobbled up quack slurry called the US Budget Control Act of 2011, the global markets started to tank, and after the biggest credit rating agency of the world, S&P, on August 5th, whose job is to voice an opinion on credit worthiness, re-rated the US long term debt (read here "long term viability in terms of paying its financial obligations"), the global markets started to crash. I am sure the US Fed will step in and announce a programme to save the world sometime this week. Otherwise, the markets will COLLAPSE by another say 50%. However, I am also skeptical that such an announcement by the Fed will do much more than merely slow down, if at all, the decline in the markets. The Fed and the US government have lost their credibility. S&P merely confirmed the obvious--that substantive lies, fraud and deception cannot be covered up with pompous and arrogant "democratic" processes that result in legislation that means exactly the opposite of what it says. Yes, I blame Obama and the Senators and the State and the Congressmen for being crude tricksters, con artists and Ponzi Scheme vendors. Here's why.

3. If the argument is that the US is broke and the US Budget Act of 2011 was suppose to give Obama a reprieve on re-raising the debt ceiling until after the election, Then why does it appear that the US PUBLIC DEBT IS ACTUALLY ACCELERATING IN SIZE as we breathe. See Table below on US Debt Subject to Limit (courtesy of www.zerohedge.com):

Can you believe the US will bump into the debt ceiling again by the end of September? And more of this messy screeching theatre of the President versus Republicans versus Democrats versus Tea Party will go round and round again? Riots will come to DC. Maybe the youths have a point.