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WASHINGTON (AFP) – Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.
The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.
"The US has run out of bullets," Roubini told an economic forum in Italy earlier this month. "Any shock at this point can tip you back into recession."
What's so surprising about this? I have been saying this for years now, ever since Clinton signed the Gramm-Bliley bill into law. It's coming, folks. How it ends is up to us. We can come out of this better than we were before, if we do the right things, and I believe we will. Here is how I believe it will play out:
1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.
2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.
3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.
4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.
I believe that we have a very rough road ahead of us, as our economy melts down. It is going to be very tough for some of us, but I truly believe that, once the proper steps are taken, we are going to come out of this better than we were before, and that the government of the people, by the people, and for the people, will once again become just that, instead of the tool for the banksters it became under our current economic policy.
Yes, there is bad news coming, but if we persevere, the good news down the road will far outweigh it. Don't listen to politicians and other professional liars, as they make their last stand, desperately spinning what is about to happen, while praying that the status quo will prevail. It won't. The writing is already on the wall, and their days in power are numbered. When the meltdown does happen, this WILL be change you can believe in. Our leaders will once more work for us, and not for just the select few who have them in their pockets, via the lobbies. When this is over, perhaps the lobbyists can find work at McDonald's, if the supervisors somehow have it in their hearts to overlook their treasonous acts, and give them a second chance. After all, the retarded are always given a chance in life. LOL.
In the end, America WILL prevail.
I know that I am a bit over the top with this rant, so I will now put on my flameproof suit and get ready to take some hits. :mrgreen:
Article is here.
What's so surprising about this? I have been saying this for years now, ever since Clinton signed the Gramm-Bliley bill into law. It's coming, folks. How it ends is up to us. We can come out of this better than we were before, if we do the right things, and I believe we will. Here is how I believe it will play out:
1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.
2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.
3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.
4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.
I believe that we have a very rough road ahead of us, as our economy melts down. It is going to be very tough for some of us, but I truly believe that, once the proper steps are taken, we are going to come out of this better than we were before, and that the government of the people, by the people, and for the people, will once again become just that, instead of the tool for the banksters it became under our current economic policy.
Yes, there is bad news coming, but if we persevere, the good news down the road will far outweigh it. Don't listen to politicians and other professional liars, as they make their last stand, desperately spinning what is about to happen, while praying that the status quo will prevail. It won't. The writing is already on the wall, and their days in power are numbered. When the meltdown does happen, this WILL be change you can believe in. Our leaders will once more work for us, and not for just the select few who have them in their pockets, via the lobbies. When this is over, perhaps the lobbyists can find work at McDonald's, if the supervisors somehow have it in their hearts to overlook their treasonous acts, and give them a second chance. After all, the retarded are always given a chance in life. LOL.
In the end, America WILL prevail.
It is up to us to stop Obama ASAP before he gets his wish.
Mark Twain: "The report of my death is an exaggeration"
People both inside and outside the United States have been predicting its demise for over two centuries. Our nation is large and robust enough to be resilient against simple economic downturns or political setbacks.
They also said that in the British Empire, Roman Empire and so on and so on.. where are they now?
They also said that in the British Empire, Roman Empire and so on and so on.. where are they now?
1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.
2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.
3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.
4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.
3 posts in, and the stubborn stupidity that keeps the tug-o-war going kicks in. Far-right/ far-left need to be put out to pasture and let the pragmatic middle take over and run things for a while.
Hard choices that the partisans protecting their jobs will never make. What got us here:
*unfunded wars
*for profit health care dictating terms of health care reform
*banking/financial sector dictating terms of regulation
*refusal to make hard choices on both taxes and spending
3 posts in, and the stubborn stupidity that keeps the tug-o-war going kicks in. Far-right/ far-left need to be put out to pasture and let the pragmatic middle take over and run things for a while.
Hard choices that the partisans protecting their jobs will never make. What got us here:
*unfunded wars
*for profit health care dictating terms of health care reform
*banking/financial sector dictating terms of regulation
*refusal to make hard choices on both taxes and spending
Does a tree really depend on the termites that consume it?1- we will not default on our debt so long as China remains a huge investor. Why? They won't let us, thier economy is strong and we are not the ONLY people who create wealth anymore. China knows this and would have too much to lose - because they are so tied up with us now.
The nice part about predicting a future disaster is that you'll eventually be right. That doesn't mean it was (or is) a good prediction.
"We need to cut out all this partisan bull**** and stop being so needlessly political. We should all just recognize that we're here because of things that the Republicans are responsible for."
Forgive me if I don't give much credence to your pleas for unity.
3 posts in, and the stubborn stupidity that keeps the tug-o-war going kicks in. Far-right/ far-left need to be put out to pasture and let the pragmatic middle take over and run things for a while.
Hard choices that the partisans protecting their jobs will never make. What got us here:
*unfunded wars
*for profit health care dictating terms of health care reform
*banking/financial sector dictating terms of regulation
*refusal to make hard choices on both taxes and spending
Looking at recent history, one thing is abundantly clear, those that put this Nation at such serious risk, will NEVER, EVER take responsibility for their failures. They have learned nothing.
The 545 People Responsible For All Of U.S. Woes
BY Charley Reese
(Date of publication unknown)
Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?
You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code. Congress does. You and I don't set fiscal policy. Congress does. You and I don't control monetary policy. The Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of the 235 million - are directly, legally, morally and individually responsible for the domestic problems that plague this country. I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered but private central bank.
Full article here. Read it once a year whether you need it or not: The 545 People Responsible For All Of U.S. Woes
The 545 People Responsible For All Of U.S. Woes
BY Charley Reese
(Date of publication unknown)
Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes?
You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code. Congress does. You and I don't set fiscal policy. Congress does. You and I don't control monetary policy. The Federal Reserve Bank does.
One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of the 235 million - are directly, legally, morally and individually responsible for the domestic problems that plague this country. I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered but private central bank.
Full article here. Read it once a year whether you need it or not: The 545 People Responsible For All Of U.S. Woes
It is up to us to stop Obama ASAP before he gets his wish.
The nice part about predicting a future disaster is that you'll eventually be right. That doesn't mean it was (or is) a good prediction.
"We need to cut out all this partisan bull**** and stop being so needlessly political. We should all just recognize that we're here because of things that the Republicans are responsible for."
Forgive me if I don't give much credence to your pleas for unity.
Why doesn't the article mention that those 545 people were put in power by the other 235 million? I guess it's simply easier to blame 545 than the 235 million who put them there. People get the government they vote for.
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