reply to post by MMPI2
Yes. I believe that one day the U. S. economy will collapse. However, it won't be on a time-table, and it won't occur for the reasons most people
It is due a lot sooner than you think!
Reagan started the economic plunge with the leveraged buyout feeding frenzy of the 1980's that destroyed the US industrial base. Clinton took it
further by exporting jobs via WTO and NAFTA and China's entry into the WTO. But the worse thing Clinton did was setting up the USA for the current
economic crash with the passage of several banking laws. Quick list of Banking
Bush was responsible for the AIG bailout and Obama set up homeowners with his "Loan Modification Program" that lured the unwary into foreclosure so
the banks could grab all the tax payer money from AIG Credit Default Swaps on top of the house and land they foreclosed on.
That brings us to the present messed up economy. So what has the Obama Admin done to fix it???
50% of the US labor force work for small business. Obamacare makes a change in the tax law governing 1099's that is going to be a
for ALL businesses and
force many small businesses to close their doors. Worse it will greatly impede the start of new small businesses.
With this change in the tax code, every time $600/year or more is spent for supplies or services at a different vendor, the business must FIRST get a
TIN (SS#) BEFORE the purchase is made. Then each quarter or at year's end he must fill out forms for the IRS and the vendor detailing how much was
spent. Worse if even ONE of those TIN's are wrong, he is required by the IRS to do withholding tax on ALL his vendors and contractors! (been there
done that) Can you see the mess as salesmen, buyers and sales clerks try to deal with confidential information like TIN's ? Can you see the absolute
chaos as a salesmen filling the gas tank on his company car argues with a gas station attendant (who only speaks broken English) and tries to explain
WHY he is withholding 28% of the purchase prices???
FOOD FOOD RIOTS and the NEW FOOD SAFETY LAW:
If you read no other references do read this: www.wanttoknow.info...
It shows what was happening behind the scenes
and why Dan Amstutz went to work for Sachs Goldman after writing the WTO Agreement on Ag. and the Freedom to Farm Act of 1996 that lead to the food
riots of 2008.
The second fiasco is the Food Safety
. Most American farmers, despite the media's hype, have to work a second job to support their farm. The average net income for US farms is
$19K. Very few farms actually get tax payer money and those are normally the large corporate farms. The addition of food safety regulation and the new
1099 tax changes are going to push many out of business and the
Tester Amendment Does NOT Help Small Food Producers.
says the new law May effect home
The USA produces 25% of the world's grain. 40% of the USA is farmland and come 2012 when the Food Safety Law goes into effect, the US government will
have just put out of business the majority of the 2,055,230 family farms leaving just the 73,752 Corporate farms. (2002 Ag Census)
This destruction of American farming is intentional and started right after WWII. The key moves were the 1995 World Trade Organization Agreement on Ag
and the 1996 farm bill called the "Freedom to Farm Act" both written by the VP of Cargill Dan Amstutz. Those two not only wiped out many farmers in
the US but all over the world. The "Freedom to Farm Act" also got rid of the US strategic grain reserve. As of 2008 the USDA reported "The Cupboard
The economic disparity between industrial farms and those that retain locally owned and controlled farms may be due in part, to the degree in
which money stays in the community. Locally owned and controlled farms tend to buy their supplies and services locally, thus supporting a variety of
local businesses. This phenomenon is known as the economic “multiplier” effect, estimated at approximately seven dollars per dollar earned by
the locally owned farm. PEW REPORT
The total economic impact of farming for my state, North Carolina, was over $704 million in 2002. Only 171 Farms of the 53930 NC farms are not Family
MORE GOVERNMNET IDIOCY
Obama-Dodd financial bill would further enrich
Goldman Sachs The "bill would reward the firm with potentially billions of dollars by instituting a so-called “resolution authority”
that would, in practice, be a permanent bailout fund."
Barack Obama has reshuffled his staff, bringing in the trio who under Clinton gave us WTO, NAFTA, repeal of the Glass-Steagall Act and China’s entry
into the WTO. These are the same dudes who are responseble for exporting millions of American jobs.
Now the monster we call a government is after our life savings.
US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement
Leveraged Buyout References:
References on Housing Market Crash:
John Munsell's Comment in this article is the best description of the food safety problem I have seen:
(Tester amendment is scam) www.activistpost.com...
(Home Gardens) www.examiner.com...
Background and History
1996rFeedom to farm Act: archive.corporatewatch.org...