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| What is going to happen to/in America?
Posted: 9/23/2009 2:42:10 PM | I have become an admirer of Peter Schiff--he called the current financial crisis way back before it was cool to say The United States was The Titanic and and an iceberg was dead ahead.
I think we're looking at financial Armageddon. The United States has between 60 and 100 trillion dollars in unfunded liabilities--basically future financial promises it will be unable to keep without seriously damaging the economy. The politicians on both sides have known for a while that the bill was coming due but they have kept kicking it down to future generations. With the Baby Boomers reaching their Golden Years, critical mass is not far behind. Throw in the fact the economy is already in shambles--nearly 10 percent unemployment, mortgage crisis, commercial real estate about ready to implode, low interest rates creating another bubble and flooding the markets with tax payers money, wars we can no longer afford, politicians who have no problem adding to the national debt--nearing 12 trillion dollars; we currently pay a quarter of a trillion dollars per year on interest payments alone and this may reach a trillion dollars in 10 years--so they can stay in power, and our production capabilities are now overseas.
70 percent of our GDP is consumption. We basically borrow from other countries with cheap money because our currency is the reserve currency--pray they don't replace the dollar because the house of cards will come crashing down when we can't borrow money at low interest rates anymore--and spend the money on bullshit. The Fed will be faced with a decision--probably soon--on whether to raise interest rates. It will be a politically tenuous situation because it could create another recession and that won't be good for the politicians so Bernarke will be caught somewhere between hell and deeper hell.
They say the recession is over. The stock market is ahead of itself and there will be a pull back at some point. The fact is our politicians are not doing what's best for us and they're creating a situation that will further polarize the country.
I see only two options for survival if these things come to pass--pass a balanced budget amendment and decentralize the federal government and give power back to the states as The Framers intended.
Or break the country up, hopefully peaceful, and allow states--such as Texas and any other states that might want to follow--to go their own way in the name of freedom and liberty.
I hope I'm wrong on all this. However, I think they only delayed, but did not stop the sinking of this country with all the spending, bailouts and cronyism.
I have children and I care about their futures deeply--enough that I'm gearing up and preparing to move to Texas in the next year. With the second biggest economy in the country, no state income tax, and a budget surplus in the middle of a crisis like this I have to admire the way they operate. And Texans are fiercely independent and seem to be one of a few states with the balls to stand up to a Federal Government that has lost all touch with reality and tell them enough is enough--shape up or ship out. | |
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| What is going to happen to/in America?
Posted: 9/23/2009 4:20:39 PM |
No, George Bush is NOT a Texan. They just knew the state to move him into so he could gain clout. REPEAT He is NOT a TEXAN. ^^ He's not by birth, I know, but he's certainly rather adopted it hasn't he? I think he claims it. He never seemed to refer to his real birthplace or his actual "culture" by birth (which was more like East Coast WASP blueblood really). I mean, he's got the Texan dress, the talk, the accent, everything. So do many Texans view him nonetheless as sort of a 'foreign-born', a "Yankee" :) (as in, not truly Texan , or ?). And if Texas wants out, and I'm not trying to be smart or start a fight here, I'm just seriously asking, how big is this kind of movement there? How serious are they? And if they have the numbers , then....what's stopping them? You know how they used to tell people who didn't like the Bush admin, "love it or leave it"? What is actually stopping Texas now then, from ....well, "leaving it", I guess ? Personally I would think it's a fringe movement down there, at best, but then I can't say, I've never even been there and I don't believe I know any Texans.
Dino, yes, he has certainly adopted it on the surface. I am willing to bet he is spendingless and less time there, depends on how much influence Laura has. Laura is a Texan.
What people outside of Texas do not realize is just how smart Papa Bush is. This is a ridiculously wealthy man with several generations of family being involved deeply in banking and middle east investments. Texas was chosen back when Papa Bush was president for the next family political move. On Bush's first visit he was given a dinner in his honor in San Antonio. He was served a traditional Tex Mex meal...tamale, enchilada, beans, rice, guacamole, margherita. He was confused by it and didn't eat any of it. In another city, can't remember which, he was thrown a HUGE BBQ, whole side of beef with all the accompaniments. He didn't like or eat it. It made top news for several days that he ate none of the food he was served on his 3 day trip. He not only made disparaging remarks about it, but also visible holier than thou faces like it was below him. He would have something special made for him every evening after each event and on one day he had food flown in for him.
BUT, he made important political and financial friends. He became a best friend of one of the largest railroad and industrial owners in Texas. This man was a patient at the doctors office I worked at. He and Bush had lunch together quite often on his special high security train car that this man travelled the country in.
It was during this time that GW Bush was reigned in and married Laura, then the methodical taking over to get elected as Texas governor started so that the Bush reign could continue. When Bush was elected, and few believe it was legally done, there was an uproar for many months in the political arena. Texas was at a loss at the time for a real leader and it was an easy time for a player to move in. You see how they handled his prsidential election...he lost peoples vote, bought the electoral college and rigged his brothers state of Florida. COME ON PEOPLE!!!
This is just a family that has enough money to buy anything they want to happen, anywhere in the world. AND YES, the Gulf and Iraqi was were both staged for the Bush Families political and financial furtherance of power. (furtherance, is that a word? LOL)
BUSH IS NOT A TEXAN
Also Dino, I realize why you were asking about Texans wanting out and why they aren't trying it and I realize you are not trying to be a smartazz.
Here is my explanation...I do not think Texas or Texans are wanting out. What people mean when they talk about the possibility is that if it comes to that Texas WILL and CAN get out and do just fine. I do not believe any other state can do the same, but I could be wrong. Perhaps Virginia, California and Washington state could survive as Republic Nations. Texans are a very educated, intelligent, courageous and self-supporting people. These virtues are bred and programmed into most every true Texan. Why so much of the rest of the USA makes fun of us and hates us is far beyond me. People here in Michigan actually believe all Texans are dumb, backward, redneck, criminal, in-bred, wacked out, gun toting, pedaphiles. WTH? That more describes a lot of people here than anyone in Texas. One reason I guess is because of all the nonTexans that come to Texas starting freako religious or militant groups, THEN Texas law enforcement finds out, it makes the news and everyone thinks it is Texans. Totally ignorant. People do not listen, they hear what they want to hear.
Neither of us even mentioned that Texas has the largest International Shipping Industry and Ports in the nation...
Seaports and inland waterways play a vital role in the economy of Texas. With eleven deepwater seaports and more than 1,000 miles of inland waterways, these international gateways account for more than 17 percent of Texas' gross state product, making it one of the country's largest maritime states. The Texas Marine Transportation System is just one component of the national system comprising 1,000 harbor channels; 25,000 miles of inland, intracoastal, and coastal waterways; and 3,700 terminals that handle passenger and cargo movements. This system connects with 152,000 miles of rail, 460,000 miles of pipelines, and 45,000 miles of interstate highways. These elements are all tightly interwoven; developments in one part of the system could easily affect another part of the system located hundreds or even thousands of miles away.
To help preserve this vital economic component and to position the industry to take advantage of opportunities for growth, the Texas Legislature established Texas Transportation Institute's (TTI) Center for Ports and Waterways (CPW) in 1995. The CPW provides valuable applied research at the local, regional, and national level, benefiting both the nation and the State of Texas.
http://tti.tamu.edu/groups/program.htm?p_org_code=RPW
I do not think there is a fringe movement. Texans are not stupid rebels, but they are independent enough to get a job done and survive, knowing when to leave and when to stay. I think you would like Texas very much as long as you allowed yourself to understand them. You will never meet such an independent group of people with a strong sense of identity.
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| What is going to happen to/in America?
Posted: 9/23/2009 4:32:01 PM | I hope I'm wrong on all this. However, I think they only delayed, but did not stop the sinking of this country with all the spending, bailouts and cronyism.
I have children and I care about their futures deeply--enough that I'm gearing up and preparing to move to Texas in the next year. With the second biggest economy in the country, no state income tax, and a budget surplus in the middle of a crisis like this I have to admire the way they operate. And Texans are fiercely independent and seem to be one of a few states with the balls to stand up to a Federal Government that has lost all touch with reality and tell them enough is enough--shape up or ship out.
Wteshark, you have a good sense of the situation and what is happening on the people level. I applaude you for your understanding, not just talking about Texas, but the whole national situation.
You are correct. I do hope that all of the rest of the country though, that professes to HATE Texas and Texans, does not, ONCE AGAIN, bring their butts down to Texas with nothing but their beat up cars because it can hold its own when their precious know-it-all states have fallen flat. They make losts of money then leave as soon as things are better at home. I am much more concerned about that than I am about Mexicans crossing the border, who actually work, contribute to the economy and stay in Texas. Yes, I know they send money to Mexico, but they also contribute to the betterment of Texas and they take jobs no one else will do, not even the rest of the states who run to Texas everytimes it gets tough for them.
If you really understand and care for Texas and you want to stay, then by all means, go to Texas.
Another thing no one has mentioned about Texas...It is NOT a welfare state. People in Texas have to work. There are federal programs, but no state welfare. People from other states don't like that. Good.
Pirateheaven, that is actually part of why I am contemplating moving back to TX. It is a republic and can leave any time it wants. Like I always say...I want to be on the winning side.
JWG, you have to be willing to fight for it, too. If you aren't, you won't last long in Texas. Trust me. Texans can smell a ship jumper for miles!
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| What is going to happen to/in America?
Posted: 9/23/2009 5:14:28 PM | You got it man.
I'm a fan of Schiff too.
I've watched just about everything there is of him on Youtube, and he ALWAYS makes fools out of the other financial "experts."
ALWAYS.
The guy makes perfect logical sense, and I also think that he has great integrity.
He says some funny sh** too.
I hope that he kicks Chris Dodd out on his criminal ass. | |
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| What is going to happen to/in America?
Posted: 9/23/2009 5:40:52 PM | America lost its way a long time ago. Instead of looking after its own citizens it decided to police the world. Wrong move.
Gov't is way too big....it needs some serious cutbacks and some serious changes. It won't happen.
I absolutely believe we have far too much government.............
I also agree it won't happen without MAJOR changes[read that as TERM LIMITS]in any idea of a near future.
But the "police" idea......I think we backed our own asses into that one by not saying "no" at a great many times we could have.I think that state chose us and not us choosing it.
Gotta admit to this too....reading all the above about the "making of friends" and the "grooming" strategies..........I'm somehow reminded of some other guy who was the pres for awhile.....who was that guy.......?
9. We have a ready supply of workers. (Just open the border when we need some)
Gotta ask this even though I love you "Texas folk".
How come you can't seem to "close" that same border?
This is just a family that has enough money to buy anything they want to happen, anywhere in the world. AND YES, the Gulf and Iraqi was were both staged for the Bush Families political and financial furtherance of power. (furtherance, is that a word? LOL)
BUSH IS NOT A TEXAN
Would liked to have been at that dinner one night......
staging all the destruction of resources and lives..........wonder what they considered over dessert?
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| What is going to happen to/in America?
Posted: 9/23/2009 6:26:40 PM | Probably Jeb's encore to GW's finale
The Bush family has been directing politics and finances for over 100 years on the world stage with direct effect to this nation and the middle east, therefore I really do not think they are considering any of their plans to be a finale. There is always another play on the horizon in store for us lesser financially endowed peons.
I will never get the look on GW's face out of my head that day, 9-11-01, when he was supposedly reading a book, which was upside down, in a second grade classroom, and he was whispered to about the Twin Towers hit and the hijacks going on. It was priceless. It told the story. If anyone thinks his sitting there another 15 minutes was anything other than admission that things were being done by his knowledge, then your just a believer in fantasy.
Presidents do not SIT in a second grade classroom looking nervous and dumb while their country is being attacked by terrorist.
And neither did this president, because terrorists did not attack anything. The fact alone that he was in a second grade classroom was so obvious as a ploy to make people think good of him and to remember where he was and what great humanitarian things he was doing when 9-11 happened for all posterity, is just too cheap, too sickeningly obvious, that I will always be floored that anyone bought into that or cannot see him and his family for who and what they are. One cannot even call them opportunists, because they are the ones creating the circumstance and opportunities. As someone said above, they are evil.
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| What is going to happen to/in America?
Posted: 9/23/2009 8:21:58 PM | | I have and idea, lets divide America in to 50 independents states that has one federal agency who's only responsibility is to defend them as a whole. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 7:20:45 AM | ^^^..^^^ Superb idea, and we could frame it around a Constitution that affords every citizen the right to pursue happiness, WITHOUT some arrogant attorney-turned-politician seeking to subvert it's premise, with government intervention responding to market failures, over 22,000 prohibitive regulations, and confiscatory tax burdens?
Amazing concept indeed, unfortunately there are many who like Stalin are seeking to destroy the very fabric that built this great Nation, since many of the same ideas he advocated are simply another side of the same coin proposed by the socialist. Who in the guise of correcting "unfairness" and "injustice" on social affairs, follow a deplorable modus operandi of instituting more policies that seize capital from the producers.
"When we hang the capitalists they will sell us the rope we use" - Joseph Stalin
(Once leader of the Union of Soviet SOCIALIST Republics) | |
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| What is going to happen to/in America?
Posted: 9/24/2009 11:33:28 AM |
I have and idea, lets divide America in to 50 independents states that has one federal agency who's only responsibility is to defend them as a whole.
^^^..^^^ Superb idea, and we could frame it around a Constitution that affords every citizen the right to pursue happiness, WITHOUT some arrogant attorney-turned-politician seeking to subvert it's premise, with government intervention responding to market failures, over 22,000 prohibitive regulations, and confiscatory tax burdens?
Now, why didn't someone think of that before..... Oh wait... they did
Funny posts Fzr and PG
But don't give these guys any ideas..... I believe Obama would form 56, or was it 57 States.... Where he would have to create 56 or 57 new Czars...... "The State Governor Czar" So he can control them as well.
But seriously
What is going to happen to America? We will have 4 years of this extremely crazy power grab... Blotting our Government out of control... until the people stand up and say they won't take it any more.... Bush's 8 years were a hard time on our country... I'm not going to blame it all on him.... People can't remember past last week so they forget that our economy took a dive for several reasons... A lot of that has also been because of a Democratic controlling Congress since 2006... Barney Frank/Fannie and Freddie.... along with other stuff..... Some mistakes by Bush... oh yes.... But most of it comes from our government in general.... I'm not anti government... we need a good working body of governance... But we don't need a big out of control spending, regulating, eye in the sky government.
It will take years to fix what has happened in the past 8 months.... and I say this because... although we had many problems, and Bush also grew the government... Obama has taken and put this spending and growing of the government into warp speed.
I also believe he has now done more damage internationally with his rhetoric of how bad our country has behaved under Bush... and how great he has been himself in the last 8 months.... That instead of some thinking we are a bit of a bully on the block... Now we will be seeing as the weakling on the block....
If your a football team and you get a reputation of being a dirty playing team by your opponents.... You don't agree with them and apologize... You stand up and explain why you play the way you do... and take actions to prove you play tough.... but fair.
Bad mouthing the last administration because you disagree with their opinions and policies.... especially to the world... Is only showing how childish you are.... Complaining that Fox news disagrees with his policies is childish... Presidents have been attacked and disagreed with since the beginning of this country... Leader have been since the beginning of time... All that has happened as of late is those who are in charge of our country today... has shown their true colors. From Obama to Pelosi down to those news casters and talk show hosts.
Now... after saying this about this administration.... in 4 years? if a Republican or anyone else takes office... Will it be any different? I would hope so... But I am not holding my breath... We have a seriously split country.... and we are in a difficult time.... Like they say... a Kingdom divided is a Kingdom that falls.... We can not be any more divided than we are now.
We really need a moderate in the White House... and a balanced congress.... and a down size of government control.... Or no matter who is in office... we will keep sliding towards socialism....
That is what is going to happen to America..... And I feel there are a large group who want this. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 12:06:26 PM | You wont go to socialism id say, simply more towards the centre, which isnt really a bad thing.
Hell will be like nearly every western democracy, comparing it to Stalin is a tad off base. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 12:44:40 PM | | ^^ When people compare Obama to Stalin, or Hitler, to me it reveals that they themselves are a tad off base. Therefore I always expect from the point of that comparison onward that pretty much whatever else comes out of their mouths (having to do with politics at least) may well be a tad off base as well. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 12:54:21 PM | RISK MANAGEMENT : BASICS YOU SHOULD KNOW ABOUT AMERICA:
UNDERSTANDING HOW OUR USA SYSTEM WORKS
Were at a end of a 80 year cycle of boom and bust. With a Fiat money system that has a expanding debt at 2 to 4 Billion dollars a day.
Fiat money system: (a money system backed by nothing)
59 Trillion in Entitlement (Medicare, Social Security)
69 Trillion in Debt (300 million USA citizens. So each owes $197,000.00 each)
GDP of entire world is only 65 Trillion 2008 USA GDP was 14.33 Trillion
National Debt is 10 Trillion Dollars plus 1 Trillion more in stimulus these last few months
We the US shore up this Fiat system with a Federal Reserve Bank (4.806 Trillion Dollars) (By adding up all payouts a few congress leaders have proven the true number printed has been 13 Trillion and not the 4.806 Trillion they claim)(By the way the Federal Reserve is no way part of the Fed such as a name Federal Express, It is a independently owned entity created to create money out of thin air and we pay as tax payers pay interest to it. To give the "out of thin air" process a external value.)
Our central bank - the "Fed" - Federal Reserve Bank system is a privately-operated entity. When the current system of global central banks were devised, it was largely by influence of one family, the Rothschilds, whose patriarch sent his sons out to the various major countries - primarily in Europe to propose the scheme. Of course with nothing but profit in mind.
In this scheme, the central bankers would gain control over the issuance and production of currency, taking a guaranteed chunk off the very first exchange of all new currency. Paul Warburg, his own family very prominent in banking, set up the U.S. Federal Reserve - supposedly on behalf of the Rothschilds and both families are still active in the governance of the Federal Reserve Bank. In the United States, the privately-run Fed is the only entity that has the authority to order the U.S. Treasury to print up more of the monopoly money. Congress cannot. The President cannot, nor can the courts.
The Federal Reserve is the" Lender of last resort" to our Federal Govt. so that the US govt always has a buyer for its debt. Most of time in the past we have sold our debt to: (In the form of Treasury Bonds)
as of Jan 2009: Top 15
China( 739.6 Billion ,Hong Kong add (71.7Billion) Japan (634.8 Billion) Brazil (127 Billion) Russia (119.6 Billion) UK (124.2 Billion) Luxemburg (87.2 Billion) Oil Exporters (186.3 Billion), Caribbean Banking Centers (176.6 Billion) Pension Funds (456.4 Billion) State and Local Govts (516.9 Billion) Mutual Funds (769.1 Billion) Insurance companies (126.4 Billion) Brokers,Trust Banks (413.2 Billion sept 08)
note:
Russia increased its stake by 330% in that last 12 months (was only 35.2 Billion in Jan 2008)
(Am I the only one who wanders why the entire Russian navy fleet is on both of our US coast in the last few months) maybe to create fear to run oil prices up or the petroeuro issue??? or the fact that they are having to protect their oil ships that have no place to dock and off load their crude oil due the over production amounts of oil and no where to store it (all oil storage tanks are full to the hilt due to the economic slow down)
China increased it stake also was only (492.6 Billion a year before) now 739.6 Billion With the statement what choice do we have? We must protect our investments. In the last few month now state they are done with our reckless spending and they will not buy anymore of our Treasury Bonds.
UK use to be 279 Billion in Summer of 2008 thus pulling out by 55 Billion
Brazil was 127 Billion and now 133.5 Billion
Oil Exporters: Ecuador, Venezuela, Indonesia, Bahrain , Iran, Iraq, Kuwait, Oman, Qartar, Sadia Arabia, The Arab emirates, Algeria, Gabon, Libya, Nigeria was 140.8 Billion a year earlier and now 186.3 Billion
To cover the money trail in March 26, 2006 The Federal Reserve ceased the reporting of the M3 Money supply numbers "lack of transparency" to hide our systems short falls coming today.
There is 755 Billion US dollars in circulation as of June 2007 (America owes foreign creditors 3x the total amount of US currency in circulation)
Oboma is spending too much and making our creditors position them self's to pull out. And when they do the Euro system will crush the USA and you think things are bad now
MONEY VALUE VS ENERGY ISSUES
Then we have what is called the Petrodollar system: OPEC agreements made by Henry Kissinger during the Nixon years that created the Petrodollar system that made all countries trade and price oil in US currency and thus our world value of the dollar is based on this Petrodollar system and not GDP regardless of what they tell you. In those years the 7 largest oil companies (called the seven sisters) that controlled the oil production where USA and British companies.
Standard Oil (Mobil Exxon)
Royal Dutch Shell
Anglo Persian Oil (BP-AMACO)
Standard Oil Co of NY. (SOCONY) now (Mobil Exxon)
Standard Oil of Cal. (SOCAL) now Chevron Texaco
Gulf Oil now BP
Texaco now merged with Chevron in 2001
These 7 companies now only produce 10% of the oil and gas and only control 3% of the worlds reserve supply today. The new top 7 are mostly Middle East, Asian and Russian control. and the next 40 years will be from oil suppliers from developing countries and the middle east dependent on OPEC
Saudi Aramco (Saudi Arabia)
Gazprom (Russia)
CNPC (China)
NIOC (Iran)
Petrobras (Brazil)
Petronas (Malaysia)
The world oil production is 31.4 Billion Barrels a year America consumes 25% of it annually.
Each USA citizen uses 25 Barrels of oil each year. x 300 million citizens
Currently Each Person in China uses 2 Barrels of oil each year 1.3 Billion citizens. If future children of China (320 million under the age of 14) begin to consume like we in the USA do? That equals to 32.5 Billion Barrels of oil a year... We will need 5 earths production to cover the consumption of the world??
The Iraq war was due to Saddam Hussein selling his oil reserve rights to China and Russia and all sold and based in Euros. (Hussein owed Billions to Russia for loans to build up his military) We invaded within days of this contract. We let the whole country of Iraq loot itself to the bone except for the building that controlled the oil exchange. (any US senator will say we did not invade for oil)(because the truth was to uphold the Petrodollar system) After the evasion the Iraq oil pricing and exchange was returned to US dollar system within days.
Currently Venezuela (OPEC country) is in the process of switching to the PertoEuro pricing and selling in the Euro and the rest of OPEC will follow shortly after. When this happens the US dollar will contract (pull in and trade to other currencies) from the world and no longer be a basis as a world reserve currency.
BANK SOLVENCY ISSUES
President Nixon took us off the gold standard in 1972 to cover the cost of the Vietnam war and other issues (Our debt owned by other countries lost faith in us just as they will today and they began to pullout their investments in Gold backed US Treasury bonds at the Gold window) and we have been creating a failed system ever since. Growth based on debt. Both in the Fed spending and the banking system (marginal banking system, also creating money from thin air) You deposit $10,000.00 into a savings account and they show it as a asset on their books but lend out $9,000.00 of it in a loan and put that loan down as a asset too. and so on! all backed up by a FDIC system.
Bank Failures
3 in 2007
25 in 2008
94 in 2009 as of Sept 19 ,2009
200 more are on the edge of bankruptcy as of Sept 1, 2009 (did not pass the solvency test)
(And keep in mind the FDIC is down to 10 billion dollars of reserve to cover all 200 of them)(each bank failure cost FDIC around 800,000,000.00) (Im sure FDIC will be the next bail out soon)
Then there is the dot.com bust and the tech bust and then after 9/11 the easy money and housing super bust. created by a almost ridiculous system of taking a mortgage within days and selling it as a bond and then into a security and then A,AA, AAA security that was sold to the rest of the countries.(and sold to them as rock solid investments) People we bankrupted not only ourselves but many other countries too with this junk. This is why we had a 700 billion bail out that included assets in other countries. They were threatening to pull out their debt we owe them.
10 Trillion dollars in recovery packages
JP Morgan thu Fed bailed out Bears Stern 30 billion
85 Billion to AIG
125 Billion to 10 banks to shore up bank lending.
350 Billion has been spent as of Obama
(I personally think we bailed out these firms out because they owned so many Treasury bonds that would be liquidated from the FED if they would go into bankruptcy and throw off the RMA debt ratios at the Treasury that would cause a run on cashing in Treasury bonds by the world)
Currently, the Fed is in a big lawsuit over whether or not they have to disclose a number of large and secret BAILOUT loans to yet-undisclosed banks in the system.
They claim disclosing the names of the banks would shake consumer confidence. So apparently, the taxpayer has involuntarily made loans of undetermined but large amounts, to borrowers whose identities are a mystery. They may be U.S. banks...and they may not be. Only the Fed knows for sure. In fact, I would suspect revealing the details of these transactions would cause a taxpayer revolt and the forced revamping of the Federal Reserve System as we know it. Certainly the ouster of figureheads like Bernanke, but the culprits will remain firmly seated. (See Bloomberg versus Federal Reserve)
J.P. Morgan-Chase is a prominent member of the Fed and is often involved in the failure, and subsequent buyout for pennies on the dollar of other banks, with the collusion of the Fed and the U.S. Treasury and they've done so since the formation of the Federal Reserve. The very first piece of interest charged for the lending of U.S. currency to regional banks - The Discount Rate - goes right to private Federal Reserve coffers. Each time the funds change hands, an additional profit is tacked on until it finally gets to the taxpayer actually receiving it as a loan. The actual bank you're borrowing from certainly isn't getting rich - as you can see evidenced by all the bank failures due to insolvency.
Flawed? LOL!!! Of course it's flawed. If you took the first 1/2 to 2.5% of each and every dollar in the country, each time it circulated through the system again - wouldn't you be happy as a clam? By the time one dollar has circulated through the system as little as 40 times or as many as 200 times at the current rate, you will own the entire original dollar with zero outlay of your own. And THAT is the "Federal" Reserve System, despite the fact its mandate is NOT to profit from its position as central banker. (The entire system stinks of a Whole Life Insurance Policy. You pay for your "whole life", but everything you pay in after something like 60% of your expected lifetime is pure profit.)
UNEMPLOYMENT ISSUES
Oh, did I forget to tell you that President Reagan to stop the runaway inflation in 1983 (created by President Jimmy Carter and President Ford ) did away with the Sherman Act (choose to ignore) and allowed foreign corporations to absorb US companies that began the decline of our Industrial base since that time . The foreign corporations began the consumption of manufacturing companies and jobs moving out of this country at a high rate to get us where we are today. The great 1929 depression unemployment numbers did not hit the 25% figure till 4 years into it. we are at 18% (adjusted to the same U1,U2,U3 sampling used in 1935) and we are just one year into this so called recession. One year after the crash of 1929 unemployment was only 8.9%
I use to buy bankrupt company assets after 9/11 at auctions... I get no less than 200 auction cards a week in the mail for big big name companies who have closed down operations here in the USA.
Other countries have not over-inflated their currencys like we have. A worker in asia work for $20.00 to $50.00 a week and can live on it comfortably. How can we compete against that kind of advantage. This equates to cheaper labor, cheaper raw materials, cheaper transport cost. and no overregulations cost. bottom line is We have not and Will not be able too!!!
I live in Indiana and our unemployment insurance to the unemployed by the state will be $ 800,000.000.00 in the red by the end of 2009 and Indiana is 1 of only 6 solvent states in the USA. They have a 1 billion dollar surplus (looks like the above unemployment will eat that up this year).
STOCK MARKET ISSUES
By the way the stock market is currently up to 9200 is a fools run. It will go as high as 10,300 and then it is predicted to be as low as 2500 (3800) by 2010 .... As they tell you your missing the run up they will be selling out and converting to Euros or some safe currency. I laugh everytime I see a stock ralley everytime the bad unemployment numbers are released. People the stock players know that product assets have already been produced and warehoused and then the corporation lays off its mass number of workers (liabilities) will be able to post big profit numbers due to smaller payrolls for that following quarter ...but will crash the stock the next year when unsold unsellable assets become a liability.
A ralley in stocks does not correlate to a recession recovery
Also take a look at this link as to how few powerful people actually control the market: http://www.livescience.com/culture/090826-stock-market.html
HEATH CARE AND SOCIAL SECURITY ISSUES
The attempt to revamp the entitlements (Heath Care System) is required for the Medicaid system not to be bankrupt by 2012 break even (2018 Bankrupt) . The other countries do not want to buy any more of our debt. And we will be lucky if they do not request their money back within the next year or so..................................
Social Security is Solvent till 2040 but will fall below cost by 2017 This number does not figure in mass layoffs and unemployment that is hitting us now. (And they have already used the money for SS on past goverment expences. :Thus NO Social Security was saved away for you!!! It was all spent and relies on future income from workers who are working!!!)
PROTECTIONISM:
Looks like Oboma is going to try the Smoot-Hawley Tariff (1930) direction??? (It pushed us more into the depression) to punish China for holding down its currency! 35% tariff on tires....
WTO Section 421 of the trade act: Does not require proof of dumping goods below cost to enact tariffs??
WHAT IS THE PREDICTION:
Thus Run away inflation (like that of Germany after WWII)
As high as 50% min unemployment (includes underemployment)
Runaway interest rates (by US trying to bring back foreign investors to our failing system)
Oil and Commodity Peaks late 2009 triggering the next stock crash 2009-2010
Dow will go as low as 3800
All assets: Stocks, Commodities, and real estate will have a big DEFLATE
.
War with other nations due to our default of our loans or they request to be paid in gold.
Major increases in taxes on the affluent and on business (tax revenues will fall 20-30%)
Failing loans will contract money supply (GDP will drop 20%)
The Threat of the destruction of the US dollar if foreign govts and investors who hold the US dept loose faith in our US policies and fail to continue to by US Treasury Bonds or worse sell them!!!
Asian stocks will also crash by 2010
(Sorry for sloppiness and probably some misspellings I wrote in a haste but feel the basics need to be heard, data is from CNBC website, and 3 current released books :
I.O.U.S.A by Addison Wiggin and Kate Inconterea has interviews with Alice Rivlin, WIlliam Bonner, Robert Rubin, Peter G. Peterson, Ron Paul, Paul A. Volcker, Dr. Alan Greenspan, Warren Buffett, James Areddy , Paul O'Neaill, Arthur Laffer, Steve Forbes
Bankruptcy of our Nation by Jerry Robinson
The Great Depression Ahead by Harry S. Dent Jr | |
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| What is going to happen to/in America?
Posted: 9/24/2009 12:59:34 PM | The sky is falling. Again, the sky is falling. So it seems....
Things will go back up. They went down, after having been back up, they went back down. Next they will go back up. And then after things have started looking up, and seeming to get better, and have gotten a whole lot better, and are better than ever, they will go back down again. Then after they have been down a while, up again they will go. When things are going up you can warn they will go back down, and when things are down you can remind they will go back up. I'd call it a cycle but since it's only been going on like this for all of human history, it's too soon to say for sure if it's just a fad or if some basic and persistent principle is at work. I don't think the fall of Rome is anywhere near. The only thing I see changing is a possible balance shift, wherein China and the EU will have a more equal status on the world's economic stage. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 5:05:03 PM | Yeah, I had read about those rumors regarding Saddam and his getting out of petrodollars being the real cause of the war.
I'm hoping that you're wrong about hyperinflation, but it's true that some very smart guys think it could go that way. | |
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| What is going to happen to/in America?
Posted: 9/24/2009 8:21:41 PM | Someone mentioned a comparison of Obama to Stalin. Interesting since there was no mention of Obama, unless of course they deem Obama to be a socialist.
If you're ill prepared to furnish any ideas to counter a posters assertion, Maybe perusal on the subject with reading a book or two, might be of assistance, instead of flipping nonsensical comments?
As stated in an earlier post, I can define, defend and prove the utility of Freedom based philosophy against socialist precepts any day of the week. So I suggest you grow a pair, and return with some balls of intelligence, instead of expressing invective like a misinformed half-wit.
(Good luck)
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| What is going to happen to/in America?
Posted: 9/25/2009 8:18:21 AM | Just like every empire in the past america will dissolve and break up.
Too much money is being mismanaged and the infrastructure is falling apart.
Soon some states will start to try and separate.
interesting? But we've endured greater darkness an bigger storms before.
So, why such gloom? ~
There is a thing such as self-fulfilling prophecy, The gloom and doom people only need to carry the day.
I think our future can be bright but it's for us to make it so.
people are working so hard in some feeble attempt to identify and label "everything"
whatever they perceive must fit inside some frame work of understanding. A game of connect the dots by perceived associations.
This is "not"progressive thinking but limits and restricts thoughts and ideas.
If enough people subscribe to this "thought process" we could very well reenter the 'dark ages" again.
Today, we need new and better ideas ~ not old worn out notions that failed us in the past and will fail us in the future.
Dance | |
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| What is going to happen to/in America?
Posted: 9/25/2009 10:03:49 AM | | what is going to happen to america, has already happened, democracy in the usa is dead, its the dictatorship of the global corporations, its been like this for a long time, its too bad i like the american people,they should have listened to eisenhowers waening in 1960 | |
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| What is going to happen to/in America?
Posted: 9/25/2009 3:56:54 PM | This thread is a veritable coop-full of Chicken Littles!
All things come to an end; empires rise and fall and so on. While all of this WILL end, it probably won't be in our lifetime, and maybe not for a good long time after that. Besides, END is a relative term. Do you mean END like Armageddon, or END like the relatively gentle decline of the British Empire?
As long as there have been economies, there have been boom and bust cycles. Anyone who studies history knows that civilization in general is in much LESS dire straits than it has been on numerous other occasions.
As the the US? I don't pretend to be a prophet, but based on the scholarship of the rise and fall of nations, it looks like we might be at the start of a looong and slooooowww decline. That's less because things are so sh*tty, and rather because we don't have too many more opportunities for expansion on the scale of the last century.That doesn't mean there won't be some good times ahead, and that we won't continue to be a very great power for a long time, because it's going to take a while for any serious challengers to get up to speed.
All of the comparisons to the Roman Republic/Empire are pretty much bunk, imo. We would be foolish not to learn what we can from history, but history never repeats itself exactly. We are not the Romans, and the only similarity that's guaranteed is that one day we will be no more, just like they are. If you must make comparisons, keep in mind that Rome was a power for a good 800 years, experienced it's most angsty and unstable period in the years leading up to Julius Caesar, and then went on to much bigger things for several centuries more.
I'm not saying we should be complacent and just let things deteriorate. I just think that the attitude that the end is nigh and nothing can be done is counter-productive, and even somewhat un-American. Where's the fightin' spirit? It seems everyone just wants to blame someone else for the problems, and not bother with any solutions because it's all pointless!
I really don't understand the whole secessionist thing, and not just in this country. Since when did it make sense to deliberately become a little fish? There are just so many advantages to being a citizen of a super-power; it's totally taken for granted. Just wait and see what kind of clout your country has when it has a population of 20 million tops and a correspondingly sized military. No thanks.
Plus, there's always the assumption that if you leave, you'll only be leaving with the like-minded. Just because there are less of you doesn't mean you'll agree on anything.
And edited to add: Dancecard, I like the way you think!
And also, comparing Obama, or really, any current western political leader to Stalin can only be hyperbole because there is simply no basis in fact. Actually, since I have a better-than-average knowledge of Soviet history, I'll go so far as to say it's offensive to the memory of his millions of victims. I've heard some of the "parallels" and find it hard to believe that anyone has to stretch that far to manufacture critiques. Heck, I can come up with all kinds of criticisms of the President, but I guess they just wouldn't be as spectacular and conducive to whipping up outrage.
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| What is going to happen to/in America?
Posted: 9/25/2009 4:05:44 PM | No, technically and factually, we have never endured such a storm as this....this asset bubble was/is the mother of all bubbles.
I'm talking economics.
Never in our entire history has the currency ever been inflated so much so rapidly. We're in uncharted waters now. | |
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| What is going to happen to/in America?
Posted: 9/25/2009 4:08:21 PM | Ugh, guess I missed the editing window . . . .
And edited to add: Dancecard, I like the way you think!
And also, comparing Obama, or really, any current western political leader to Stalin can only be hyperbole because there is simply no basis in fact. Actually, since I have a better-than-average knowledge of Soviet history, I'll go so far as to say it's offensive to the memory of his millions of victims. I've heard some of the "parallels" and find it hard to believe that anyone has to stretch that far to manufacture critiques. Heck, I can come up with all kinds of criticisms of the President, but I guess they just wouldn't be as spectacular and conducive to whipping up outrage. | |
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| What is going to happen to/in America?
Posted: 9/25/2009 5:27:13 PM | Some basic things have been happening for some time now.
One Americans in general are slowly getting poorer over the last decade, so far it is only by a small amount but this trend will continue for the next couple of decades.
Two more and more Americans are uneducated and this again will ultimately translate into a much larger poor class over the next couple decades.
The root of all this is a social economic shift that has been underway for some time. Nothing Obama or the next guy can do will change this. In the end they cannot change the collective consequences of choices a hundred million or more people make.
Another thing economic downturns have always been a part of life for centuries. Nothing new here and they will continue to happen. The government starting with Bush and now continuing with Obama has for the most part averted a much worse situation in our current calamity. People with basic money skills are not in any trouble, in fact this has been a very fantastic year to make money. | |
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| What is going to happen to/in America?
Posted: 9/25/2009 8:39:45 PM | I think if it gets bad enough, States will secede and prosper. Texas will probably be the first. Now some sage words from a Texan
OK Your proud to be a Texan.................but the ONE and most important thing you are forgetting is that Texas has NO clean water.................and without water my six shootin friend, you have nothing else.
Now back on topic, as far as the American rebound: we need a few things:
a government that is not supported by the people and run by the corporations.
a national effort to produce something other than consumption, do you own anything that was actually "made in america".
an actual effort to cleanse our country - as in - clean air, clean water and clean earth.
and finally a kinder personality mind set, trust me you are not in the top 20 percentile of the nations wealthiest americans, you are the 80 percent of the people that make the other 20 percent richer, stop acting that you are any better than your neighbor. | |
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| What is going to happen to/in America?
Posted: 9/25/2009 9:39:08 PM | It's really up to us Americans. Plain and simple.
You can either sit and wait for the government to take over all your freedoms or you can keep freedom by keeping the government out.
What I can see by the growing attendence of the Tea Parties, I would concur that its the later of the forementioned is what the people want.
The outcome of the elections in November 2010, will tell us what we really want to happen. | |
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| What is going to happen to/in America?
Posted: 9/26/2009 10:34:58 AM | Nothing is going to change as long as the Fed runs our economy.
People don't understand that we have central planning for the economy, which disrupts the free market, inflates the currency, and causes the boom and bust cycles. | |
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