Heading to Rock Bottom

See here and here.  These are just little stories, the likes of which you could find hundreds of each week if you were so inclined.  What is the point?  The point is we headed for a crash.  It is a certainty on current trajectory.  Either some charismatic Republican gets himself elected and then promptly dons the green eye-shade hat or we go into "default by another name," the leading example of which goes by the name inflation.

I have long said that our politics likely won't solve this, but bankruptcy will.  We will reform entitlements only when the checks can't be cut.  The check cutting apparatus will soon shut down in places like Detroit and Illinois.  Either we extrapolate from those examples or we go bust.  That's it.  All the high-minded Ivy League economic bullshit can't gloss that unvarnished reality.