America's Fiscal Collapse - EXPLAINED

There are no solutions under the prevailing global financial architecture. Meaningful policies cannot be achieved without radically reforming the workings of the international banking system.

What is required is an overhaul of the monetary system including the functions and ownership of the central bank, the arrest and prosecution of those involved in financial fraud both in the financial system and in governmental agencies, the freeze of all accounts where fraudulent transfers have been deposited, the cancellation of debts resulting from fraudulent trade and/or market manipulation.

This page has perhaps the best explanation of the many-tentacled Hydra that is our financial system and it's collapse.


[edit on 3-3-2009 by shrike071]

Global Research is a great resouce! Now we just them to take the reigns of Government! What could we possible lose?

The implications of this are dizzying! And this part is a gem!

The Bush administration's $ 700 billion bailout under the Troubled Asset Relief Program (TARP) was approved by Congress in October. TARP is but the tip of the iceberg. A panoply of bailout allocations in addition to the $ 700 billion were decided upon prior to Obama assuming office. In November, the federal government's bank rescue program was estimated at a staggering 8.5 trillion dollars, an amount equivalent to more than 50% of the US public debt estimated at 14 trillion (2007).

It is unfortunate that a page with all that information isn't read far-and-wide. It really is one of the best, bare-knuckled explanations of what happened, why it happened, where we are headed, and what can/should be done.

i read the link,
i found the Tables at the End of the Article 'interesting',

if one notices... the social security system is projected to (suddenly)
go into the Red in 2009...
with only $654Bn in receipts (taxes)
but pays $662Bn out in checks to recipients


I recall that Social Security was supposed to be self-supporting until 2040
the last i heard.
(is this a classic case of 'Revisionism', a case of cooking-the-books
to have 'facts' support one's case)


I can imagine that the Fiscal mess we're in now might eventually get blamed on the 'bankrupt'
social security & medicaid/medicare programs, together with the sub-prime
home buyers...

& not the 9-12 'Primary Dealers'/major banks who created & marketed, rated the toxic garbage which is the real cause for the world-wide financial Crisis.








Table S-4 .... Proposed Budget by Category

($$$ in Billions)

for the years: '08... '09... '10... '11 .......................

outlays:
social security 612, 662, 695, 719 ......................

reciepts:
social security 658, 654, 682, 719 .....................