Give Me Some More Of That Green Shoot Love Baby! Double Shot of it…!

So much bullshit so little time. When the government is spewing/spinning the numbers to make us all believe that everything is fine, just back up and say; Don’t piss down my back and tell me it’s raining…

Then check out the tax withholding statistics published by the Treasury Department. Not a whole lot of ways to spin this except to say in Scooby’s voice, Ruh Oh. Those green shoots just got blasted with Round Up.

February was not an auspicious start to Obama’s record budget deficit-busting plans. The Daily Treasury Statement for the full month of February was just released, and it disclosed that while corporate tax withholdings, net of refunds, actually climbed marginally to $3.4 billion from $(3.4) billion in February 2009, individual tax withholdings plunged to a multi-year low of $30.7 billion. Combined, the two items also posted a multi low of $34 billion, less than the previous recent low from February 2009 when the first leg of the Greater Depression was allegedly at its zenith (see chart below). We can’t wait to hear how the "recession is over" brigade will paint this particular data point.

February 2010 Federal Tax Withholdings Plunge To Multiyear Low | zero hedge

So then the next question to ask is why the hell are we spending so much damn money? Do these fools actually believe that you can spend your way out of this? Hey maybe Obama isn’t really trying to fix this? Or maybe his definition of “fixed” is a bit different than yours and mine? Hey maybe his definition of fixed has something to do with this?

Critics claim Obama’s budget is an example of the Cloward-Pivin model of planned economic destruction of a functioning capitalist economy via sabotage. Outlays are so gigantic, and so dreadfully misspent, that our financial infrastructure will soon collapse. A trillion dollar tax increase and spending rising by $10 trillion dollars over the next decade is probable. If so, government default will occur, only offset by mass currency printing, which will then bankrupt the general populace. The middle class will fall. Chronic inflation will result, causing America to lose its sterling credit rating. Global financial players must dump the dollar as it swan-dives. Then, hyperinflation will accelerate, and the era of superpower America will end.

Would the above plan be Marxist? Consider the following statement regarding USSR dictator Vladimir Lenin’s opinion on the topic, from famed economist John Maynard Keynes’ book "The Economic Consequences of the Peace":

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

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