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In the 1970's, after a long 3 decade period of prosperity in America, something out of the ordinary happened...We started working less and eating more on the rest of the worlds' back. What we are approaching now is the not a depression in the black and white imagery of the 1930's, it is The Great Decline of the New American Century. It is difficult to believe that we could become a nation poorer and less free than China, or even Zimbabwe, but the reality is this:
Over the last 30 years Americans, and the American Government has borrowed against it's own future nearly 400,000 to 1 if you account for all debt incurred in private and government spending, as well as huge trade deficits in the trillions. I won't get into the numbers here, that isn't my job anymore and I'm sick of being a windbag. The amount of debt we've incurred is staggering and it is all borrowed money from foreign creditors. Those creditors can no longer finance our consumerism, if they do they will be dragged down and undo what prosperity they have worked for since emerging on the world economic stage. I am speaking of China, Japan, and Europe.
The United States of America does not produce real wealth, and the huge stock bubbles we have seen in the last decade is a result of artificial demand created by speculators betting that our foreign investors would be happy with returns produced without any actually backing. The way we go about creating money in the Fractional Reserve system is not sound monetary policy. Because of this our dollar will collapse as a result of the printing presses trying to recapitalize banks that have created too much money through the loan process which cannot be realistically paid for should defaults occur. Compound this with an ever widening gap between production(or lack thereof) with wages and you will have wave after wave of defaults in the trillions. It's what we mean when the smartest of us says "Living beyond our means".
This process can be found everywhere and anywhere in the American economy. From the small business to the consumer using credit cards. Every time a bank makes a loan it is NOT, I repeat, NOT moving any real money, and the assets that would normally back the money supply does not exist. It is simply created out of thin air by the stroke of a pen, or the tick of a key on a keyboard. Now we add wage and production disparity and we have our current credit crisis. And if any of you think it ends with that fascist Ben Bernanke flooding the market with newly printed USDollars then you are in for a big #ing surprise. When you compound the two together you get exactly what has happened to Thailand, and more recently to Zimbabwe. Hyperinflation. Before this happens you will witness, this year, the US credit rating dropped to below triple B. That means that credit for government functions will tighten so hard that the next round of stimulus plans will have no other choice but to be printed en masse, by the Federal Reserve. 43 of the 50 states are already teetering on the brink of default. Once the states, and the Federal government default, all the money from foreign investors and debt holders will dry up like the Kalahari Desert and we will be left with a bunch of worthless dollars in our hands.
God Bless Obama, I know he means well, But once that 350 billion dollar bourse is released to the banks they will just leverage that amount at a rate of 9:1, as prescribed, by law, through the Federal Reserve. Increasing the money supply by the hundreds of trillions, and this doesn't even include Obama's proposed public works stimulus which will cost the US Government, and in turn the US population 1 trillion dollars in newly, physically and electronically created money. This is NOT something we are going to recover from. And I stand here before you today to warn of what is coming.
Once hyperinflation takes hold, nothing will be bought or sold, as it will become too expensive to do so. America will become a 3rd world country over night. I will be alright, as I am from a 3rd world country and have dealt with this sort of poverty before. But none of you have. None of you could possibly know what this will do to you and your lives. There will be food shortages, there will be tax revolts, riots, high crime rates, and the government, being the government, will begin to use mercenaries and troops to round up those who are rioting, or protesting.
Freedom will be a thing of the past in this nation and it will lead to the destruction of what America once stood for. Life, Liberty, and the pursuit of Happiness. I warn you of this today, not because I want to scare you, but because I want you to see for yourselves, I want you to do your own research. The media is lying to you. The system is broken, and anyone who thinks that our system will somehow endure is either lying or hiding under a rock. The writing on the wall is there, will you read it or walk on by?
I cannot be the only guard on duty here, you must take your shift at some point. The internet is a powerful tool. Please, do not take my word for it. There is a fraud going on here that has been exposed, but you must seek the truth for yourselves. The time to grow up is now. The party is over, and the room is a mess so large that the only recourse left in order to clean it up is to burn the house down.
Originally posted by ImaNutter
Has any president/administration ever come close to spending this much money? EVER????
Congressional leaders are ironing out the final details of the $789 billion economic stimulus legislation at the heart of President Barack Obama's recovery plan