Monday, December 31, 2012

This post has no title

This post has no title because I can not think of a title that does justice to the laughable "fiscal cliff" events of the day. Beginning hours after I awoke with Obama's rambling "speech", a speech where fittingly he had the middle class lined up like drones behind him as he made barely sensible statements about, well.. some spending, cuts and stuff. It was hard to tell really what he was saying between all of the fluffy "responsible balanced yadda yadda" crap.

Then later, in our suspiciously Hollywood-esk drama of the "fiscal cliff", a "tentative accord" is made, there's just one problem with it: it doesn't actually address the issue which created the whole "fiscal cliff" in the first place: the debt ceiling. Oh, but don't worry:
Treasury Secretary Timothy F. Geithner formally notified Congress that the government reached its statutory borrowing limit on New Year’s Eve. Through some creative accounting tricks, the Treasury Department can put off action for perhaps two months, but Congress must act to keep the government from defaulting just when the “pause” on pending cuts is up. Then in late March, a temporary law financing the government expires.
Yep, some "creative accounting tricks", in other words: compounding more bullshit. "Accounting tricks", shifting numbers around, deck chairs on the Titanic. Oh yes, they're really "working" to solve this problem and not abandoning the ship in the population's tax funded lifeboats.

Warning! Ice berg ahead!


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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

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