The law approved by Congress to grant a one billion dollar loan to Ukraine is only a loan guarantee and will not even dent Ukraine’s huge debts, 25 billion of which must be paid this year, William Engdahl, a geopolitical analyst, told RT.
The bill will also give more power to American NGO’s to promote democracy in Ukraine, many of the same NGOs that helped create the current instability in Kiev. This is the last thing Ukraine needs at the moment, says Engdashl.
The bottom line for the Ukraine is that anyone with a brain can determine that the country doesn’t have enough income or revenue to allow them to repay their bills, so clueless Americans allow their politicians to hand out money to an unworthy borrower in the same fashion they are running the U.S. checkbook.
Let’s face it. The majority of American consumers are absolute idiots when it comes to running their own finances. Debt is at an all time high, and Americans typically don’t know what it means when they are earning $50,000 per year and borrow $60,000. It’s no wonder why the American citizen never questions their politicians when they lend $1 billion to a country which has recently been rated (kinda like a FICO credit score) as “default imminent”. Essentially, lending money to a country in default is like taking out a cash advance on a credit card in order to pay the monthly payment on the 5 other credit cards you have maxed out.
(no matter what anyone may say to dispute the above paragraph, unfortunately the facts about U.S. consumer debt does not lie. It is factually correct to say that 98% of Americans are idiots when it comes to their personal finances, and they are managing their federal checkbook no different. The banks LOVE idiot borrowers!)