I live in downtown Charlotte, NC where the Democratic National Convention is taking place all week. I just stepped outside my front door and there were literally 200 police officers lining the street with cop cars and a helicopter that was flying over my head.
All the streets are blocked off for cars coming in and if you walk past the car blockades you come to fences keeping walking people out of the entire city. It looks like a scene from a war zone or something from the movie Outbreak. I would take a picture and post it here, but I actually feel in danger of being shot with the camera flashing.
Inside the ring of protection the democrats are throwing an incredible party. In some of the more upscale bars in the city they are having private parties with open bars and top notch food.
They are lavished the way a Roman Emperor was hundreds of years ago, only with far more extravagance. People that can enter the barricade and get close to a politician have lined the city to cheer on these celebrities. Lebron James, Justin Bieber, and Britney Spears visit this city on an annual basis. The scene upon their arrival is nothing like what is taking place here now.
The irony of it all is that as they are spending millions to throw their party here in the city to honor the gift they are to our country, we are closing in rapidly on the coming US debt crisis created by political spending. It is like a dot com company throwing an extravagant New Year's Eve party on December 31, 1999 just months before the NASDAQ peaked (and then crashed) in March of 2000.
When the United States bond market finally enters its Greece moment there will be no such "extravagance" held at these annual parties. People's awe at the "greatness" of politicians, these people whose salaries we pay with tax dollars every year to destroy our country, will turn to anger.
The party this year, in 2012 outside my door, could likely be the peak of the insanity. Let's hope so.
Another quick look at the portion of the budget that will never realistically be discussed in cuts on either side of the aisle, the 90% of total spending made up of defense, social security, interest, and health care. Click for larger image:
Happy $16 trillion to those partying in the city tonight. Oh, you didn't notice that we just crossed over the next trillion dollar milestone? That's because we crossed $15 trillion less than 10 months ago. We should only be picking up speed from here.