"The combination of debt, dollar devaluation, delusion, and depletion will make this crisis the most challenging and dangerous in US history."The United States is reaching a point where some painful decisions must be taken in order to avoid an even more painful crash. It's time to stop blaming dead people (FDR, Reagan) and start gathering facts.
Bigger government and more spending won't get us out of the historic hole Democrats and Republicans have dug for us. It will take a hundred years of bitter medicine to save this country. Jim Quinn at Minyanville paints a very scary picture of what we are facing. (all quotes from Minyanville - Jim Quinn)
Politicians have voted for bailouts of criminal banks run by Boomers, voted for hundreds of billions of dollars in pork projects for their corporate constituents ... and have deferred the critical cuts that must be made to entitlement promises they’ve made to the American public in order to get elected.And they will double it again in the next eight years.
These politicians have doubled the national debt of the United States to $12.4 trillion in less than eight years.
We’ve sold out America for cheap Chinese hair dryers, inexpensive Mexican apparel, economy packs of Fruit of the Loom from Indonesia, and yellow smiley face stickers for our kids.Heads they win, Tails we Lose
As reward for gutting the American economy by shipping jobs overseas, American CEOs have enriched themselves at a rate 500 times higher than the average worker’s pay.
Wall Street bankers were paying close attention to how corporate CEOs were able to reap ungodly profits while socializing the costs."Socializing the costs" is a euphemism for sticking the taxpayer with big business losses (think AIG, Goldman Sachs, the GM government bailout.) George Bush and Congress bailed out Wall Street and told Main Street to go to hell (after they got done looting it to pay the banksters' gambling debts). Obama and the Pelosicrats give us more of the same.
President Obama didn't start this fire, but he sure is fanning the flames.
Quinn's article may be overly pessimistic. He believes in peak oil and he easily discounts the effects of future technological gains. Strong, sustained economic growth could also delay our nation's date with the grim reaper. Still, the article is full of facts and it is a gripping wake up call.
Related Article: For one man's view of how to get out of this mess, go here
7 comments:
He knows what the debt will do to us. It's all deliberate. It's Obama's way of "remaking" America.
The O Team has nothing to do with 'The remaking of America"
This process started generations ago.
When America allowed the illegal Federal Reserve and the International Banksters to enter our gates.
The Presidential Puppets follow orders.
We all serve somebody. Unfortunately our "leaders" serve the Bankster Paymasters.
I also believe in peak oil, Simmons wrote a good book on it entitled [Twilight in the Desert]. Peak energy, and the routes for that energy is why we are in these proxy wars.
This is China's century. The only one, or thing, that can stop China, is China.
ChiMeriKa will be upon us sooner than one thinks.
This is and has been a race to the bottom.
Here is the big secret.
The deficits are, and were never to be paid off. We are in the process of a controlled demolition of our economy. We will most likely go back to being a global agrarian state.
We have no one to blame but ourselves.
Peak oil is what it is , but the alarmists discount gains in technology to make new finds and extract oil that was previously too expensive to mess with. Peak Oil was first declared in the late 1800's, so this alarmism is nothing new.
I'm not quite as conspiratorial-minded as you are, but I agree that banks controlling our government is a key problem. I like to remind everyone that Dirty Hank Paulson first served Goldman Sachs when the big collapse happened, and he picked our pockets to do it.
China's dominance, like our decline, is not inevitable.
http://mjperry.blogspot.com/2010/02/game-changer-oil-industry-booms-in.html
The problem being the $$$ cost, and the cost to the ecosystem.
Most if not all have G.S. tattoed to their forehead.
The problem for peak oil might not be production, rather it could be consumption. DRILL BABY DRILL will not alleviate the problem.
Yes I do wear my tin foil hat proudly. LOL
Just do not be shocked when my stretches become reality.
Nothing is beyond the realm of possibility...
http://www.bloomberg.com/apps/news?pid=20601087&sid=acxSkkthtQJM&pos=6
Hmmmm
Nothing happens in a vacuum, I have said it before and I will say it again, this was all planned many many years ago, and our elected officials from both parties continued on where their predecessors left off and added to the problem. It is you, me and every other American who is and has been screwed royally.
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