America Is Drowning In Debt With No End In Sight

We are now importing more and producing less each year while continuing to sell off more of our large companies. Our tax base has receded and we now have fewer American owned companies remaining to produce wealth and generate taxes.

Link:www.economyincrisis.org

Author:Thomas Heffner

Creative Commons Attribution-No Derivative Works license

Well,there you have it folks. Once people stop lending America money and China finally dumps its U.S. Treasury holdings,you can put a fork in America because this turkey is almost done. The lack of ability to pay outstanding debts most likely means that the bird carcass will be picked clean by the creditors in form of confiscating what few resources and infrastructure that haven't already been given away or bought up as payment. Better start learning Chinese because one these days,you might be working for them-whether you want to or not.

I might also remind you that the mortgage-backed securities mess hasn't even begun to unwind yet. Last estimate that there was something to the tune of 500 trillion to 1.5 quadrillion dollars worth of debt on paper floating around. Countries who bought them on the promise that they were 100% safe are probably going to soon start demanding their money back. When that happens and everyone realizes that Wall Street can't or won't pay up,there's likely to be financial and political chaos on a scale you can't imagine. Mark my words.

reply to post by FlyingJadeDragon



Great post. As of today, the official debt accumulated is US$13.88 trillion. Real figure may be higher.

I recalled that back in 2003/2004, there was an exodus of Americans (mostly Democrats) applying for citizenship and migrating to New Zealand. Bush was one heck of a war devil.

Those former-Americans in New Zealand must be singing praises to God for guiding them to safer land.

A deal has been sent from China.

benjaminfulford.typepad.com...

Basically China wants it's gold back and it will forgive the US debts. Fort Knots sounds empty, sounds like the Rothschild's have it, not really sure. China also wants an end to the financial mismanagement by the Elite western families, the same bunch that that is making American's live in poverty and fear. IMF, World Bank, Fed all go and replaced with a more fair and balanced monetary system.

The military industry complex that run the banks, government and media all need to go. This crowd has being lying and thieving their way around and cannot be trusted. If you Americans cannot see this then perhaps you deserve your crumbling cities and degrading social infrastructural while the elites run around with all your money stashed away. China does not want to see the population suffer, just a more equitable system put in place.

I have not heard any word from Ron Paul about this deal that was sent to him, imagine he has his hands pretty busy these days. I am just calling it how I see it, this is for America to decide.

No matter how poor America is, we're still the Hulk Hogan of the world.

Other countries are just computer geeks, and we're the Hulkster. There's no competition.

Poor or not, we have that leg drop and all the Hulkamaniacs backing us up. Not to mention the Macho Man Randy Savage (UN) in case things get ugly.

reply to post by againuntodust

No matter how poor America is, we're still the Hulk Hogan of the world.

That is the same attitude Germany had during WW2. Yeah they had the technology back then, but they did not have the numbers to take on the world. The only people I see that really want to fight about this are the ones doing all the scamming.

reply to post by kwakakev


Maybe maybe not. We'll never know the truth about WW2.

But Germany back then wasn't the Hulkster, they were just Hacksaw Jim Dugan.

reply to post by againuntodust

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the militaryindustrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together. - President Dwight D. Eisenhower, 1961

We are here on this site as concerned citizens trying to make some sense of this complex mixed up world. Yeah, the challenges are tough and heaps of threats all over the place. America does have some big money problems at the moment and all the peer review that can be applied to understand the problem and look for solutions is a good thing. Maybe we will find the answers, maybe we won't but we will never know if we don't try.

Originally posted by againuntodust
No matter how poor America is, we're still the Hulk Hogan of the world.

Other countries are just computer geeks, and we're the Hulkster. There's no competition.

Poor or not, we have that leg drop and all the Hulkamaniacs backing us up. Not to mention the Macho Man Randy Savage (UN) in case things get ugly.

As in steroid ravaged, broken marriage, imprisoned son, dilapidated physical shell of one former self. Yes he exhibits all the hallmarks of america these days.

brill

reply to post by brill


lmao good eye
way to put things in perspective.

Originally posted by againuntodust
reply to post by brill

 

lmao good eye
way to put things in perspective.

I have no beef with Hulk Hogan, he's an entertainer and like others had his share of crap in life. I had a good chuckle though with your comparisons for Savage and Duggan though, good stuff

brill

i just got done buying up as much silver as i can. with silver up to almost $31 right now.....WOW! im thinking silver will be up to $100 by 2012.

Originally posted by camaro68ss
i just got done buying up as much silver as i can. with silver up to almost $31 right now.....WOW! im thinking silver will be up to $100 by 2012.

Same here. Bought in around $23 so I'm liking things so far. There are reported shortages but difficult to be certain. Regardless silver is going to explode in 2011, $50 is certainly attainable.

brill

reply to post by brill


yeah i see it to. With the us debt at 23.8 trillion and closing in fast to the debt ceiling. (I think its 14.5 trillion) congress will have to raise it soon. When that happens I see moodys and S&P lowering the USA rating. When that happens say hello to the USA collapse. Its scary and no one even cares. The mass is to busy watching the NFL and dancing with the stars. Im scared for those who are not getting ready.

Originally posted by camaro68ss
reply to post by brill

 

yeah i see it to. With the us debt at 23.8 trillion and closing in fast to the debt ceiling. (I think its 14.5 trillion) congress will have to raise it soon. When that happens I see moodys and S&P lowering the USA rating. When that happens say hello to the USA collapse. Its scary and no one even cares. The mass is to busy watching the NFL and dancing with the stars. Im scared for those who are not getting ready.

Maybe we are in the midst of a 3 way economic war (US, Europe, China)
and perhaps someone will kick off the big one to keep their asses from getting kicked by their own population.. I can imagine the questions and backlash... "you did what with our money!!!"

I imagine that happening just prior to any next crash..

reply to post by thoughtsfull


its the biggest musical chairs game the human races has seen and the music is about to stop. scary stuff. im going as far to store food, guns, and ammo and i use to call people like that nuts.

Originally posted by camaro68ss
reply to post by thoughtsfull

 

its the biggest musical chairs game the human races has seen and the music is about to stop. scary stuff. im going as far to store food, guns, and ammo and i use to call people like that nuts.

I know, it is worrying, I'd call me nuts for thinking the way I do... if the elite crash the US, then they crash everyone, and everyone is angry at them.. if they don't crash, then they are going to face a very angry population when all the Gov debt repaying stuff kicks in, that is unless they can redirect that anger elsewhere.. which is the bit that really worries me, what they'll do to redirect that anger.