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The US government has in February 2008 $ 9.300.000.000.000 in governmental bond debt ( When liabilities and unfunded commitments of recent signed (elderly retirement bill and elderly healthcare bill) bills are taken in consideration, the federal USA debt is not $ 9 trillion, but even $ 46 trillion. Due the fact that the babyboomers starts to retire in the next years. This statement is not of some left or right wing activist, but is the statement of D.M. Walker, the Comptroller General of the United States of 1998 till 2013, as head of the US GAO (Government Accountability Office) which recent alarming address to the nation that has been nation wide broadcasted is also published on YouTube ( He calls it immoral to our children and grandchildren to give the future double income US household as he call it 'a mortgage size debt without the use of the house' of $ 750.000. The by his in this address mentioned calculations are based on the year 2005 figures and things has gone severely deeper since than by the increasing cost of the Iraqi War. When PeakOil hits the US economy these problems deepen once again severely more, because IRS (the US Tax Agency) revenues will severely drop and governmental budgets at the same time will rise enormously by higher energy, element, product and service prices and much more unemployment. An example in recent history of a federal state that has gone bankrupted by excessively governmental spending, wrong credit models, wrong taxation model, wrong corruption model and combined with wrong production models and an inefficient economic model is the collapse of the USSR in 1991. The US Governmental Budget for 2009 is $ 3.1 trillion on a GDP of $ 13.9 trillion (estimated 2007 value). The governmental debt grows $ 1.58 billion a day, which is much higher than inflation rates. Capitalism can collapse also. Collapsing is about balances, it's immune for that fact that the capitalistic model is the best productivity model. Also right been proven models can collapse by wrong management. Capitalism (although it superior to communism) can also be poisoned by wrong governmental, financial and corporate management. It's all about the best way to earn prosperity in freedom and keeping the books in balance. Unbalanced books combined with PeakOil lead certainly some time in the (near) future to Martial Law, and Martial Law is not about the Constitution, not about an open democratic society and not about general prosperity. Western Capitalism these days certainly also needs it Glasnost and Perestroika and national and regional and local leaders worldwide of the size and with the attitude of Mikhail Gorbashev, Margaret Thatcher and Ronald Reagan. Otherwise the future perspectives of the Western World by going further on these ways of energy consumption and credit consuming will bankruptcy will all its attached problems. We don't need Martial Law solutions (weak leadership followed by extreme leadership), we need preventing collapse solutions (good policies carried out by all of us). The Western World needs the 'don't follow leaders, be one' attitude again, this used to be the capitalistic/western moral and the basic of the western governmental, corporate and societal structures.

Author: Gijs Graafland

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