The federal government publishes ‘Financial Reports of the United States Government’ (frusg, or Report, hereafter) on an annual basis, as of September 30 of each year. The latest available is the one for 2013 (for purposes of this examination). It, like several before it, declares that “current government policies are unsustainable”. It arrives at this conclusion with language and concepts designed to mislead any reader, from the casual reader to, it seems, the most experienced financial analysts.
There is much confusion to unravel: ‘What is a “present value” dollar… a “primary deficit (surplus, gap)”? The frusg makes use of the Gross Domestic Product (GDP). It supposedly measures gross production of the nation for a year; and is comprised of ten components. At least two of those components represent a decrease of production, and are added to the level of production. Government accountants make financial projections over the next 75 years; ‘Are they realistic… or pure nonsense?
As we make sense of the Report, we come up against the question, ‘Are all these confusions part of some kind of training exercise for a planned major shock to the financial system… on a global scale?’ (Please read more)