CFR is Using Apocalyptic Language To Describe America’s Horrific Debt Crisis

In a new article entitled "American Profligacy and American Power: The Consequences of Fiscal Irresponsibility", CFR president Richard N. Haass and his co-author Roger C. Altman use language that is so strong that you would think that they were a couple of half-crazed Internet bloggers.

Link to article:www.thedebtweowe.com

The Council on Foreign Relations is now even starting balk at the amount of debt America is racking up. It would seem that nowadays pretty much everyone is getting a case of the 'heebie-jeebies' because of the American financial train wreck that is coming. Make no mistake, it will be absolutely terrifying and if you look at the numbers being thrown out by multiple sources on America's debt crisis, there's a not a lot of hope left for the foreseeable future. If the CFR is freaked out,you know things are not good.

All of the economic stability in other countries so far seems to lead to austerity measures and I doubt America is immune from such treatments. The way it's looking,any measures which were demanded by the banksters would probably lead to social chaos on a grand scale. Look at how angry people are over the incredibly harsh measures which are being adopted in Ireland now and you can imagine how things would play in America.

If America wants to survive,it's going to have to start cutting away the rotten meat such as Fannie and Freddie and let both companies and banks alike die of their own foul deeds rather than continuing to prop them up so a massive re-organization of the country's financial system can begin.

There's going to immense pain on the horizon no matter which way you slice it. The fallout from the coming woes in America are going to send shockwaves throughout the rest of the world. I think the point of no return on this financial situation has been reached. It looks like it's no longer possible for America to reach the escape velocity needed to safely distance itself from the massive financial black hole it's created.

I've said before, I'll say it again:time to pack it in and head out while you still can. If you've got a Plan B,now's a good time to start putting it into action.

Originally posted by FlyingJadeDragon
I've said before, I'll say it again:time to pack it in and head out while you still can. If you've got a Plan B,now's a good time to start putting it into action.

And go where?

Seriously, austerity measures are the least of our worries. We will know that the economy is doomed when the dollar is dethroned from being the world reserve currency, Up until now, we've been able to print dollars (the only country in the world that can print the world reserve currency) to somewhat hold us. Once the dollar is dethroned, we won't be able to just print, print, print (postpone, postpone, postpone). THAT is when all of the cards will come tumbling down. How Hyperinflation Will Happen In America

From that article, and I couldn't have said it better myself:

Hyperinflation is the loss of faith in the currency. Prices rise in a hyperinflationary environment just like in an inflationary environment, but they rise not because people want more money for their labor or for commodities, but because people are trying to get out of the currency. It’s not that they want more money—they want less of the currency: So they will pay anything for a good which is not the currency.

I hate to be so DOOM about it, but, well, the reality is DOOM... it's just a matter of when that doom occurs.

ETA: Ok, maybe the word DOOM is a little over the top. This will not be a MadMax situation. We will get over it eventually. Most will survive it but things will look different from today (hopefully).

I have already done Plan B. I retired and sold my house before the crash and moved to a foreign country. Now (and for awhile now) I am working on Plans C, D, and E just in case the US goes belly-up and renegs on my retirement pension and my Social Security before I have a chance to draw it.

I still have money in the bank that I could stretch for quite awhile but I wonder how secure that is without FDIC protection. When worse comes to worse I could start selling tacos out in front of my house (which is own outright) but Mexico could deport me back to the US for not having enough money. Then my hopes would be that no one has built that border wall that could make it difficult to sneak back into Mexico.

The only thing in my favor there is that the US probably can't afford to build that wall, thank goodness. If they do though, it may become a great asset for Mexico in the coming years.

Things are a mess, no doubt there. The government needs to kill the Federal Reserve and IRS and take these organisations back into government hands, this will help stop the current hemorrhaging of US debt and sort out a big chunk of the interest problem. There is also a lot of corruption, blackmail, fraud and other perversions going on. With the Pentagon finally facing its problems of child pornography hopefully this will lead to a purging of the cancer through wall street and other sectors as well. The ideologies of the CFR do need a more critical analysis with policies similar to the IMF and all the trouble they cause. The whole issue of money needs a good shake up and reality check, with the companies too fall, a careful assessment and dismantling process can help in the transition. The first thing does need to be done is for the books to be put on the table so the problems can be seen. A lack of deregulation has let the foxes in the hen house. With a strong social security program most of the people will get through this ok. Once the mess has been sorted out rebuilding can begin.

reply to post by Erongaricuaro


Well done. Glad to hear you made your move. Yup,I've got a Plan C too. It's not great,but it will work and that's all that counts. Best of luck to you.

Head out?

Those who leave for the hills will be the first to die. Imagine the hills or fields packed with campers running out of food that are eyeing their little patch of seedlings dying off because they don't have farm experience. No law enforcement. Bunch of tents, trailers, cottages and barriers. Depending on the amount of supplies there would be waves of crime at 1mo, 3mo, 6mo, and 1yr. Sad stories of families who were robbed of their supplies and guns. There may be some rescue efforts, and those who are suffering would be moved to Federal refugee camps.

Best bet it to hold tight. Secure your assets. Increase personal and physical security. Attach a natural gas generator to your house. Make sure you don't owe on the things you don't want repossessed.

Those who already live in villages won't be affected, much. What was it the Bible said? "The meek will inherit the earth."

Then again, we may be living in a blue pill world for the next 100 years. Those who prepared for the worst would've wasted their money on supplies, guns and generators.

So America goes bankrupt. Then what? The central bank does not want to play with us anymore? Oh boohoo. Maybe we can replace it finally with a body that issues free money in tune with the underlying economy to prevent inflation and deflation. Or the Fed could allow an audit and show that the money the fed makes is being used for something usefull, other than just making bankers rich.

reply to post by Cassius666

So America goes bankrupt. Then what?

Trade stops, shops dry up, no one has a way to transact reasonably. Things can get very messy when money no longer works.