Highly indebted national economies, inflation, and probably outcomes for American entitlement programs

In less than a generation, the United States has gone from being the world’s greatest creditor nation to being the world’s greatest debtor nation . With trillion dollar deficits predicted for the next few years and the cost of servicing the debt increasing more and more every fiscal year, the political will and leadership needed to thwart the American government from defaulting on social security and Medicare appear all but unavailable in the next decade.

The cuts to Social Security and Medicaid will only be the first defaults by the American government as it continues on a doomed policy of sustaining its national economy by appeasing the international bond market, instead of putting its own financial house in order by dismantling its vast empire of bases, decreasing the size of the Federal government and investing more in its national infrastructure. Handicapped by a political system controlled by corporations and wealthy individuals, inept and clueless politicians in the near future in America will be forced to sell off infrastructure projects like the New Jersey Turnpike and other national assets to foreign sovereign wealth funds in China and Singapore to satisfy the international bond market and pay off America's mountainous debt. The highly indebted countries of Greece and Portugal offer a glimpse of what will happen in America in the near future.

According to the Guardian article,

In its battle to raise funds, the country (Greece) is also planning to sell its rail and water companies. Chinese investors are understood to be interested in the Greek train system, as they already control some of the ports. In a deal announced earlier this month, the Greek government also agreed to export olive oil to China.

After the socialist government of prime minister Geórgios Papandreou responded to the IMF bailout with draconian budget cuts, rioters took to the streets, costing three lives in May.

In the midst of the crisis, the German chancellor, Angela Merkel, delayed her support as she faced local elections and popular opposition to any public-funded help to Greece.
As strikes almost paralysed the country and hedge funds bet against the economy, German politicians called for Greece to start selling islands, historic buildings and artworks. It now appears that the Greek government has heeded their demands.

With no national rail lines in America, with the exception of Amtrak, by the end of the decade, corporate controlled politicians will begin selling American infrastructure projects like the New Jersey Turnpike to raise revenue in order to pay off the debt it has incurred.

In Italy the pattern is already taking place with that the government there has labeled as federalismo demaniale or federalism owned. Thanks to the blog of Beppe Grillo, a recent posting detailed how the corrupt political establishment in Italy is beginning to sell and lease some of its national treasures to the highest bidder ( or politically connected client).

Undoubtedly Americans in the near future will be told by the corporate controlled political class that private corporations can manage the parks and infrastructure projects more effectively than the government. While this is true due to the fact that the government is corrupted from above by the corporate controlled politicians, it is an affront to the American people and the framers of the US Constitution that the corporations in America and the corrupted political establishment have vilified the republic principals America was founded on.