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The results of our survey are shocking to say the least:
So far, an overwhelming 92.3% of all respondents say that Washington will NOT stop its spending/borrowing/printing spree until it ’s too late to avert disaster …
Plus, a resounding 29.6% say the treasury bond market will collapse in one year or less, while 57.7% expect to see this catastrophe in one to two years — between now and 2012!
And, as you might expect, the action here on my personal blog has been red hot:
Ruth pulls no punches: “Our leaders have heard us,” she says. “They don’t care what we want.”
Robert agrees, writing, “Congress and the President only know how to spend. The only thing that will stop them is to vote them out of office.”
Lloyd C. takes it a step farther: “It is only a matter of time until the government as we know it is the next big bubble to burst leaving the … U.S.A. little more than a Third World country …”
Help us make sure
Washington hears us!
To make sure you have the opportunity to have your voice heard — to tell our leaders and the entire world just how concerned you are about this looming debt disaster, we’ve decided to leave our survey online for a few more days.
Here’s what we’re asking you to do …
FIRST: If you haven’t already filled out our survey, go to the e-mail we sent you today and click on the survey link to tell us what you think about America’s chances of surviving. And when our press campaign ends on May 1, we’ll send you a coupon good for 10% off any Weiss service. Use it when you purchase any Weiss service in the following 12 months to save up to $740!
AND SECOND: After you’ve taken our poll, come back here and share other comments and thoughts you may have on the debt crisis — a forum where we can get more feedback from you and provide you with our thoughts as well.
Good luck and God bless!
Martin
{ 249 comments… read them below or add one }
I have a single comment: to evaluate the spending spree by the Democrats in Congress, compare them to the same in California where Arnold has had to veto
unfunded bills, cut wages for professionals and teachers to 4 day weeks, and
raise state income taxes by cutting the standard deductions allowed in the past.
Thus, the same left leaning legislators have very little or even no idea of fiscal responsibility, and, if the state of California’s insolvency is any indication on a smaller scale, it will happen to the whole U.S.A. as well.
I believe that conditions and policies have already been set in motion to create a slow death. The government will try any and all means to secure as much of our disposable capital until everyone is dependent on the Gov’t for existence. We will then have to beg, how degrading of a future!
I think that a march to Washington with as many people as possible, including opposition leaders, should be done.
Your “shocking” statistics come from the very audience you have prepared to give you such “shocking” results. Guaged by the responces, I see them as about as simplistic and ignorant as the teapartiers. All you do is inflame the stupid to sell your point of view; you should work for Fox. I’ll pay attention to real economists, not you.
Necessary: Wholesale defeat of the tax-and-spend, anti-free-market advocates in the current batch of congress-critters, and election of states-men/-women to steer us back on course.
The unfunded obligations of the Federal government, plus the growing crisis in a number of states including my own state of California, simply cannot ever be paid. It is mathematically impossble. Clearly, the rest of the world knows this and have dramatically cut back on purchases of additional U.S. debt obligations. The Fed will eventually have to stop buying its own worthless paper as well. The reality is that what CAN’T BE PAID WON’T BE PAID. Add to this the liklihood of a run on the COMEX and London gold exchanges and you have a recipe for disaster. This game is over, even if the government decides loot our private pension funds and 401K/IRA’s.
Most D.C.politicians are whores and Wall Street Bankers are the deep pocket johns. They are so entwined under the sheets, you can not tell who owns what leg! Everything is too big. We need to vote them all out, shift the power back to the States and then bust up Big Business and give it back to Main Street. Both the Democrats and the Republicans are equally to blame. Neither represent real Americans – only their respective extreme fringe groups and interests. Go Tea Party Go!!!
To me it sounds like a bad dream that has been planned by the IMF a few years back to gain complete control of USA and continue on their One world strategy and or currency.
It is obvious Obama is just a puppet in the system but other more serious matter underline these action. Who could tell us what is really behind who as not a vested interest…
I think the American people should remember that Congress repealed the Glass-Steagall Act of 1933 in 1999. I, and many others, believe that the repeal of that Act has led directly to our current depression (aided by the efforts of the Federal Reserve under Greenspan and Bernanke). It is interesting to note that both John McCain and Paul Volkner (former Fed. chairman), have called for its reenactment. We should be asking our Congress people why that Act was repealed and have they received any money from the banking lobby.
Spend and tax the American Workers into submission to big government take over and socialized control by bankrupting the country to fullfill the progressive movement. De-sensitize our children through education which they have been doing for decades and dumming America to beleive it. They have reached the zeinith in corruption and not caring what we the people and our voices seek for a better way of life in America.God help us all.
Martin,
I fear that modern politics is broken. The political agenda has overtaken the country’s agenda and when that is the case we will continue to see politically motivated intervention against free markets forces and further kicking of liability into our future. The consequences are greater swings to the extremes hurting more of the American voters.
The only hope to prevent this eventual implosion is that the internet will allow a new power to reach the White House. Independent of the political agenda with such support from the voter that they will be able to ignore the lobbyists and special interests to do what is right for the country today.
Why does any semi-intelligent American believe that the same congressmen who got us into this mess can get us out of it? America will survive but, at what cost, and to who? The generations behind us, I’m 68, will have to clean up this mess. Hopefully, they can identify and elect some statesmen instead of the career politicians we elected.
My suggestions are as follows: 1. Live, now, at this time, within our means. Do we want slow pain or fast pain. We’ll have pain. It’s just what kind and how much.
2. Methodically go back to the gold standard. Our problems did not happen overnight. It’s been a slow, consistent, slippery slide until recently. Now we are going over the cliff.
3. Eliminate the Federal Reserve. It is the responsibility of congress to issue money.
4. And, finally, eliminate the federal income tax. This will mean a smaller, more efficient goverment.
We need leadership that will be transparent, uphold the constitution, repeal the Patriot Act, not serve big corporations instead of the people, and quite the senseless murder of millions of people for profit!
While the picture looks to be pretty dismal, there’s always a chance, an opportunity to correct things – specially if the people continue to make their voices heard.
I really did not think our Country could be taken down so quickly. Since it has I truly believe we are doomed and will go down as a much weaker Nation next to 3rd. world countries. I have no faith in our government anymore. My children and grandchildren are left with no means of having what I had. A free interprize, freedom of speech, freedom of choice and freedom to worship will end in the next year or two. Probably two years. We will go down with the ship and die as a people of freedom and choice. Too bad as we had it so good. Shame on those who want to see us under a “One World” government. We have shot our self in the foot. What goes round comes round is a very wise saying. Those in our government may think they have it made but there is always a payback for crooked means to get power and greed to starve the people that has made it a wonderful country. I hope God will have mercy on their souls. He is the ultimate ruler anyway.
Some people seem to agree that the only alternatives are to (either) reduce spending or increase taxes. I can’t see how increasing taxes will work. Increasing taxes will simply give the spend-a-holics on the Hill more to mismanage. Without spending controls our Republic is economically doomed. With spending controls, there are a Lot of us that will be mightly Pissed-off (including me … and I’m the same age as Martin), but there ‘may be a chance we could recover.
But the liklihood of spending controls being implemented is slim at best. With that in mind – the only prudent action, in my opinion, is to Prepare individually, for a very sobering Future. Readjust your aims, and come to terms with your realities.
Best,
Casey
I shudder to think what will happen to this country if we don’t oust Obama’s partners in crime this nov. and Obama himself in 2012.This is serious business and to continue ther spending andliberal programs dear to Obama is an unthinkable
catastrophy waiting to happen. Steering this country out of this mess will be an
extremely difficult task-yet continuing on the present path is unthinkable both financially and for survival.
Regarding the bond crisis, this will be like nothing we have previously experienced. The financial health of this country is facing a crisis unlike any previous crisis.
It’s already too late. GGGAFW…God, Gold, Guns, Ammo, Food and Water. Stock up folks, it’s going to be a very bumpy ride.
One thing I would suggest is if you are invested in double tax-frees in your locality, look up what is going on with them. In Montana, Wyoming, and North Dakota, if they have doubles, you might be fine. I’d get out of them in the states with poor budgeting. Some states still have assets, work ethics, and that kind of thing. Within states, there are still some people with sense. Many U.S. people roll their eyes at government, and figure out how to stay afloat despite the craziness.
Hi Martin and Mike:
I am disapointed Team O’Bama. Riding on promises and the dreams of others, it just became another sellout to Wall Street and the Washington, DC power brokers. Middle class wealth has and will continue to be destroyed. The printed money is not helping the people, only bank profits. Eventually, when the trillions get into the system USA as most know it, will never be the same. This will be just another cycle of change in economic “power centers.”
Italian Venice lost to Lisbon/Paris which lost to London which lost to the US. We will lose to the BRICs particularly China in my opinion.
Vince
We all need to protect our assets buy buying real gold, moving some assets off shore, buying or keeping only short term corporate bonds that have strong balance sheets and keeping close stops on most stocks.
Let’s get right to it!!!! I have been in business for myself most of my adult life (45 years) and this is the first time that I have totally doubted the ability of my government to sustain or reduce a budget that is considered totally out of control. What amazes me most is the attitude of entitlement most Americans have. I have never not worked!!! At one time it became necessary to become a security guard at $6.50 per hour. If more folks had the work ethics of our forefathers, I have a hunch we would not be in this position.
What strikes me as totally shameless are the actions of “our” Speaker of the House, and the allocations of funds to the islands where production is conducted by a company in which her husband is a substantial stockholder. The special dispensation of avoiding payment of minimum wages, and at the same time receiving many millions of dollars of our tax money to build the the economy, is just unheard of in our times of distress. How can this person be “dethroned” and removed from Congress? Obviously, the people who are in control of our government are not morally and ethically concerned about their blatant actions. It seems we are getting fearfully close to a totalitarian State, where we fear for our lives and welfare when striving to excel and make lives better for everyone by working hard. Soon there will be no reason to achieve a higher standard for our families, because the fruits of our labor will be siphoned off to those who really do not care to work, but rather live off everyone the labor of everyone else. It is more than most of us can take. I just hope people do not forget and just let it go, as is the trend today after a few months of time passes. ENOUGH ALREADY!
One thing that would help is to make all leaders subject to the same rules we must live by. A 28th amendment that reads:
“Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States “.
Debt crisis: One result of the policies driving down the US dollar value might be that we are weaned off the imports from Asia (cant afford them anymore), and that an US manufacturing base is re-vitalized, thus shifting our GDP sources away from the services components (an effect similar to what Washington wants to achieve with the re-evaluation of the yuan.) Not totally unhealthy, what do you think(?) (Alternatively this could be achieved by us tightening our belt, which idea however the politicos in our democracy are not willing to promote.) China will be o.k. with that ultimately, because their productivity will benefit them in another way, and more directly (like lifting their standard of living further, making their military more powerful, e.t.c.). I think the time has passed anyway, when they were dependent on advanced US products (look at electronics, Software, cars, machinery…). They just have to see to put their foreign reserves to good use, like buying resource facilities, foreign companies, which we can then work for (productively of course). Something to look forward to, no?
The FEd and our Government is obviously on a path to devaluate our currency but I expect this may have a much worse effect of destroying so much wealth that our country will fail to keep it’s debt payments current and will default. Such a happening will effect the worlds economy and we have no idea where it could all end.
Nothing is wrong that approximately 927 funerals would not cure, along with a massive invasion of sickle cell anemia.
But I jest…the country is rapidly receding into another third-world state of affairs, much as is found in a number of countries on the African continent. It has not reached the stage of one “tribe” attacking another, but nothinig would please those in power more than if reached that stage while they are in power.
With this scenario on the horizon, of what good will bonds, dollars or the equivalent thereof be? What good would it be to take an ounce of gold to the grocery store to buy $68.38 worth of groceries? Would the grocer have a set of scales and jeweler saw to cut $68.38 worth of gold from the gold piece? What will be given for change?
If gold is so worthwhile to have stocked away, why are the gold merchants selling their store of gold? Somehow, the logic escapes me.
But then, at my age (81) I am a long time cynic.
Our government leaders are marching to their own agenda and out of touch with mainstream America. Our ” leaders ” are more concerned about themselves than they are about the people they represent. There are more ” followers ” than there are ” leaders ” in Washington and collectively they are intimidated and influenced by the lobbyists. I am convinced they know that the current economic situation can only be corrected by a major sytemic change which none of them is willing to address. They are like the violin players on the Titanic !
Clearly the present administration does not have our best interests in mind, they have had their own agendas since day one and on a mission to complete them. I believe in tangible items, gold, siver, cash, food, medicine. Be prepared.
This whole mess should be no surprise to anyone that doesn’t follow the so called main stream press. I didn’t particularly like Bushes ways but they destroyed him via Pelosi and her agenda. Obama, from his background and all the words you want to hear, he charmed the majority to the belief all is free. We are both 78 years old, worked all our lives and thought we were retired comfortably until this Fascist came along. If you know history of Adolph Hitler, you can tell where he is going. From the very beginning he said one thing and did the opposite. I’m afraid only a revolution will save our nation. Amnesty to the illegals before Nov and we wont defeat anyone in November. I’M TRULY CONCERNED THE UNITED STATES OF AMERICA IS DOOMED IF WE DON’T STOP TALKING AND TAKE IMMEDIATE ACTION.
By “collapse” of the bond market, I trust the 90% of the people are referring to the corporate bond market. The Treasury markets have been, and most likely will continue to be, strong. They are oversubscribed, and the Fed has to pay very little interest. That would seem to indicate that there is a great appetite for U.S. Treasuries. In a time of crisis, is there any safer investment? As long as we live in a world that is currency based, the U.S. dollar is the safest currency. If we go to a gold based world, there is probably anarchy.
I’m reading John T. Flynn’s “As We Go Marching”. It’s a study of fascism in Germany and Italy in the first half of the last century and how we can learn if we are ripe for the same sickness in America. The answer is yes.
When so many receive benefits payable via debt we will protest in the streets just like they are doing in Greece if the Government wants to cut back.
Debt is the precurser of all the ills necessary to destroy a democracy. We have travelled so far down this road only a velvet revolution followed by some pain will save us.
Washington won’t stop the spending, why should they? Sadly, this is what they have been waiting for. The Democrats time is now and they are going to take full advantage of it. I hate to say this, but maybe this is what it takes to wake this country up and not take it for granted. We entrusted the care of this country to people who are not truly held accountable for their actions. The only way to turn this around is at the ballot box. .
To John Roy: You may have a point that responses are predictable. But I don’t know what economists you listen to — It would serve you well to get your head out of the sand and look around at what the government has done over decades — under both GOP and DEM control. I, along with many others have not only lost many freedoms and individual finances, but will continue to loose through taxation and regulations by a drastically overreaching administration under Barack Obama and his minions who care nothing for the Constitution.
Dear Martin,
Although I am not an American,(I was born and raised in Europe and emigrated to Canada at 19), I have benefitted a great deal from the USA and am dissapointed that your politicians are taken the easy way out by uncontrolled spending and not attempting to tell the people that they will do the necessary things to save the nation. The politicians of to-day have deliberately created a condition that the 40-45% of the non-paying (Fed.Taxes) public will gladly maintain the status quo, afterall freeloading is much easier, then going out and work to gain financial independence, the average guy feels that he has a birth right to the free bees and cannot understand, that when you don’t put in you will not get anything out in time.
Look what happened in Russia after the collapse of the USSR and see what’s going on in Europe right now, I believe that the present administration has a hidden agenda and will stop at nothing to distroy the USA from within.
I sincerely hope,that it is not to late and we will have to wait to see if the mid term elections will show that this present disaster can be changed to the Americans Benefit.
I believe no matter who is in office, (Republicans or Democrats) that spending will NOT stop. People in both houses of congress are only interested in increasing their own personal wealth. They don’t care what the people want. They only want to serve each other. Look at the salaries they make, the arm twisting or bribery for votes. There salary and perks are not what the average constituents in their state makes. There has been talk about a VAT. That is okay with me IF they eliminate the federal income tax. I don’t see that happening though. Only a catastrophic event such as China cashing in all its’ treasuries and refusing to buy treasuries at any interest rate. Other nations will soon follow China and we the “good ole USA” will become a third world country.If this happens we will probably go back on the gold standard.
The US has gone well past its Point of No Return. It will collapse. We need to concentrate on building a consensus on what should replace the US when it collapses. We should take all of the lessons learned in this failed representative democracy, which has turned into a plutocracy, and write a new constitution which prevents this from happening ever again.
A complete change in leadership starting with this falls mid term elections is needed. Then we need to oust our “Czarist” President and the rest of the spendthrifts that pander votes to the bottom of the socio- economic classes with ever increasing promises of social welfare just to keep themselves in office.
I doubt this will happen, so I’m glad I purchased Sean Brodericks’s “Urban Survivalist” book. Due to the sheer amount of people in America on one form of Gov’t assistance or another, I’m sure the social upheaval here will be of mammoth proportions compared to Greece or smaller countries in Europe.
It’s going to be very interesting to say the least!
And the people laughed at Noah and said “It’s never rained before”.
In 1990 I stated that our country was morally bankrupt and it started in the 1960’s. With that comes lying, stealing, anything goes. Purchase homes, cars, max out credit cards has become a way of life and then walking away from all of the debt. Children who have lacked family values, sent to school where teachers have become babysitters.
We accept the justice system as it is, most everyone can be rehabilitated…not so. We have also let in illegal immigrants, completely against the the laws of our country, they have drained our country. We want ‘cheap labor’ and they have voting rights? 30% of the prisons have illegal immigrants and of course we’re paying approximately $20,000. for each inmate, depending on the state one lives in. So as we talk about the government, taxes, spending money, our country including every citizen needs to look in the mirror, keeping themselves in check to see if they too have been part of the problem. Until all people become more honest in their ways of living, there will be no solution. We have had 3 presidents who are baby boomers, and have been part of the “people problem”, not just government. The problem..learn the difference betwee need and want. That goes for everyone, and at a time when our country really is bankrupt, its the biggest lesson for our government, keeping in mind, they wouldn’t be spending their own paychecks in the manner they’re spending the money of the people of the U.S.
Our Constitutional system of checks and balances certainly did not make the federal government king over the states, counties, and cities. Justice Scalia opined for the majority in Mack/Printz, that “Our citizens would have two political capacities, one state and one federal, each protected from incursion by the other.
The basis reason why we cannot understand the actions of Obama and the Dems is that they are intending on a radically different outcome than most of us are.’ In govenment we trust’ will replace ‘in God we trust’; a result of these policies. Competition and free choice are an essential ingredient of our sucessful system (capitalism). We see the Progressive Movement even attempting to brain-wash our children by eliminating social and academic competition i.e. out with winners and losers,’ no hurt feelings’!A financial collapse will produce a winner–the government!
Martin: I understand there are two remaining bubbles looming out there-the dollar bubble and the government bubble. Whe n these pop the aftermath will be more destructive to the economy tha the housing,stock market and private debt bubbles. Martin, I fear for the country’s future. We must somehow short of a revolution, stop this insanity by the Fed and the Treasury and the wreckless leaders of this administration and Congress. Our hope rests with leaders in private lindustry like you who fully understand the horrendous consequences. I pray you can be persuasive. God help if you can’t!
The mess we are in is the logical conclusion of the ‘two party’ system of government – where we have really given over the fiduciary responsibility for our country to what is really ‘one party’ of professional politicians, funded and controlled by a special interest machine that writes our laws in committee (which is illegal under our own constitution – only elected officials may write laws) to favor their interests, and siphons off part of the profits to fund the election of those who are in their pockets. It is oddly ironic that the parlimentarian democracies that we are installing in Iraq, Afghanistan and elsewhere are actually more effective at governing than our own ‘republic.’
As for the macroeconomic and investing outcomes of all this – the government has crowded out the market for the real beneficial capital investment for businesses, and the short term float of the printing press is the only thing inflating the bubble that is our consumption based economy – largely funded by the Chinese. First we will have to invest in diversified high dividend companies (done that already) then we diversify across regions of the globe (done that already) then we protect ourselves from the fiat currency collapse (about to do that as this rally unravels), and when that is all used up, the only thing left to buy are gas masks and bullets….because that is where it all ends up.
Lower taxes to help create jobs, giving more wage earners a chance to be taxed on their earnings (at reduced rates, of course)… Increase taxes to give those still working, less discretionary income to spend on goods and services they wish to (or need to)… Add more regulations to preserve industries that otherwise would cease to exist if the marketplace were allowed to choose over time… Impeach or remove those that ignore or defile the Constitution… then maybe we’ll stop the insanity and return to a time when a dollar is worth a dollar, not a Federal Reserve Note! John Galt, where are you?
My comment is that we are spending money on useless endeavors. An old adage tells us that we need the wisdom to know what we cannot change. To that end we need to correct our goals. We can change welfare, healthcare, unemployment, domestic issues, etc. We have no control by ourselves of Al Qaeda or the Taliban on the ground gaining power when we are gone. So, let’s start saving the money spent on the two wars and do not deprive our citizens of their “pursuit of happiness”. The money spent on these wars is over twice that of the entire cost of healthcare! When we are gone from the Middle East, all non-nuclear countries in that part of the world will devolve into anarchy for a while. They will fight among the factions. Alone we cannot stop it. And the UN and other countries do not want to get involved. Let’s decide to prioritize as did our founders. “Life, liberty, and the pursuit of happiness”! We need star wars development, border protection, and more products being built here. Let’s achieve these goals and tax as needed to again achieve these goals.
The administration has clearly demonstrated they are determined to follow their contrarian agenda come hell, high water or the pleas of the American public. They have plainly told us they pay no attention to the Constitution. We have been forced past the point of “no return” economically and it would take herculean effort to place our country back on the right track. With two more years of the current policy, correction will be impossible.
I am very concerned that we are no longer a country in which our “representatives” are guided by our constitution, representing the people & the rule of law. We are progressing further down the path to ruin than I ever dreamed possible.
Glenn Beck has a video showing how in the early twenties we had a depression. A new President was elected and he lowered taxes, cut spending, paid off one third of the National Debt and is what led to the Roaring Twenties. I am sure that our leaders today have to know this, so please tell me why they are purposefully destroying America ???
Sadly, America seems to have “drank the punch” and are blind to the
mistakes our “leadership” continue to make. I think that the
government will try for several years to delay the inevitable.
The future looks rather grim.
Thanks Martin for shining a positive light on a path towards
real answers and intelligent choices.
Please run for President, our country needs you!
Any economic recovery will be due to small businesses and to the imaginative actions of “ordinary” people to make a dollar. We will be allowed to do this until Washington feels it is losing control over their agenda and then step in with more gimmicks and/or outright controls.
i do not believe our leaders mean harm for the people they represent in any way, but the situation has overwhelmed them , this type of situations are not so common, so we all must participate in the solution of this corrupt and perverse model that if not changed will take us back to one crisis after another .
Even if the Republican wins in the fall, this freight train is still going full steam ahead until it is over the cleft. But the appearance will be a recovery just around the corner.
As long as we as a people continue to allow criminal behavior from our officials who are supposed to be statesmen and servants, we will continue downhill. There is a disease amongst our people that has spread to all corners of the land …. selfish apathy. As long as our own personal comfort is in tact we care very little for what is happening to our people and our country. I for one, can see what is happening and I refuse to allow criminals in suits to destroy my country without at least expressing opinion. I am anticonfrontational and nonviolent by nature, so the truth is my weapon …. not my guns. Let’s stick together and save it all – Hold gvt officials accountable by getting law on the books to hold these people to campaign promises – and most of all prosecute and punish criminal behavior with a life long disqualification as a public servant ( any job payed by the taxpayers ).
Dr Weiss, It saddens me to have to tell you this. I have a book that was written over a period of many centuries. In that book it says that you (meaning American and British people) shall lend but you shall not borrow…It further states that the alien among you will become the head and you will become the tail !!! A great man wrote a number of years ago (after WW2) that the USA had won her last war…Since then we lost the Korean and vietnam wars… Yes,we have won 2or3 battles but we will not win the Iraq/Afghanistan war… I have watched our beloved country going down hill for more decades than I care to remember…Every day the news articles prove what I’m saying !!! What it would take for Briton and USA to survive will not happen because our people have become Deaf and Blind and will not even stop to consider what is the cause of our problems, in fact the vast majority even scoff at the notion that they are the cause !!! All I can say to people is, try to learn what to do and take care of your little ones, The time is growing short !!!
We now have 50% of the tax paying population taking a handout stolen from the few who pay the majority of taxes .This will ensure any govt which promises to continue the handouts will get the majority of the vote!
Unfortunately its time to gather up ones lifetime savings and leave for friendlier climes
As Ayn Rand explained in Atlas Shrugged, ideas drive history. And, until we can discard the idea that one person’s need is a valid claim on another person’s property, we will never be capable of extricating ourselves from the false moral obligations of the welfare state. It is just such a perceived obligation that is the underlying cause of the current crisis — i.e., the Federal government’s effort to create “affordable housing” by passing laws and imposing regulations regardless of and to the detriment of normal market mechanisms.
Since neither major political party have expressed any capacity to challenge the very basis of the problem, the thrust must come from the citizenry … hopefully, from with the current Tea Party movement.
We need to move aggressively to restore the system of individual rights to life, liberty and property that is our Founders created, and totally reject the collectivism of the leftist “Progressives.”
If that does not happen, we will sink further into the Marxist morass that has sunk so many other nations.
This sounds like a tea party blog. The Republicans got us in this mess and idiots like Glenn Beck, Rush Limbaugh and Sara Palin are fanning the flames so Obama can’t get anything done. They are a nasty bunch. The health care bill is a step towards fiscal responsibility. If this President can be allowed to get his agenda he can get things turned around. I am 65 years old and I have never seen such nasty Ill informed just plain stupid rhetoric. Even the John Birch society is back. Jim Green
Unfortunately, the country is too firmly entrenched in the 2-party system. There aren’t enough free thinkers out there to see the mistakes made by both parties. So they cling to their respective rhetorics and the country continues down the path to self destruction. Of course the country will survive. Germany still exists despite the Weimar hyperinflation. But it will get ugly. The question is, do we ultimately get back to our roots and the philosophy of freedom upon which the country was founded and made it the greatest in the world (every man should have so much), or do we go deeper into the abyss of tyranny (no man should have so much)? What will arise from the ashes?
John Roy I agree totally with you. Jim Gree
We have sold our selves out to the rest of the world and will never regain what we had back.
In the next 4-5 years we will become a third world country.
I think this is by design from powers beyond are reach.We know that these powers want a one world order and one world currency.If it was only one country in financial trouble then I could see things getting better.But it is more then 10 unions that our in trouble this is world wide.The only way to make a global anything is to destroy the American currency. You guys are smart but when you own the world you can use everything in your power to create economical changes.This has been a plan for a long time know.I want to ask the American public this question?Was obama elected or selected.You see coke a cola pays millions of dollars to persuade you to buy there products By using your human nature design how much more does these men that run the world with there power above al governments now how to convince the people to by into something that they don’t even know why they just do.What is obamas purpose in his term since everything he promised is already dead he has done absolutely nothing he has said he was going to do?What is he trying to accomplish really?How can a president sit on to thrones at one time .President of the U.S.A. and president of the united global nations.think about what he wants to do.He needs to devalue the us currency and create peace to implement a global system.There are powers you can not see at work.Be prepared in your heart for what is to come.
Apparently, Democrats are Democrats and Republicans are Republicans. What happened to being and listening to Americans?
Does anyone in Washington understand a balanced budget, as do most Americans.
I wish that I had a money printing press in my garage.
I think the chances of our country coming out of this serious predicament are zero to none! I say this because we don’t have enough leaders in Washington who really care about this fantastic country we live in. Most of them still only care about getting re-elected, and their own well-being and security. Even if we elect some strong leaders in Nov., there seems to be little chance of significantly reducing spending, getting another 25% of the people paying income taxes, and shutting about a third of Washington. Even if such things could be accomplished, there would be rioting and blood in the streets by those who have lost some of their perks. This is why I am so discouraged. What a sad, sad story to the end of what a wonderful country that God has given us, and our founding Fathers did so much to establish.
Based on my continuing Fundamental, Technical and Cyclical analysis, my answer is the same as 6 months ago to Larry Edelson’s blog. I do NOT see a US Treasury Bond market collapse in short or intermediate term. In fact, I continue to push out this forecast. Now, thats not to say that other forms of debt (ie private, municipal,county,state,foreign countries) will not crash, but as for US Treasuries, this would not be the case. Why? because if we look to two similar economic periods in time: The Great Depression and The Lost 2 Decades of Japan, in BOTH cases you were safe in Gov’t treasuries as well as gold. ALL other asset classes including stocks fell hard. This time is NO different, Ben Bernanke will continue to inflate our debts away as will other central banks Why? because unless he wants a US and worldwide Depression in weeks to months, he ABSOLUTELY MUST keep rates low. To raise interest rates, jeopardizes 3 key areas: #1 Consumer borrowing (70% of GDP was due to the consumer) #2 Real Estate (rising rates will KILL this market even more #3. Protection of the MASSIVE UNREGULATED INTEREST RATE DERIVATIVES MARKET which is over $250 TRILLION in this country alone!!!! Ben and his peers around the world know this. So, I believe, like your Weiss Capital Management folks (ie. Mike Burdick etc) that there will most likely be a flight to quality and that means the US dollar and the US Treasury markets. This is the best case scenario for a sick US and world economy. Why? Because as you are currently seeing and will accelerate, capital will flow OUT of the stock market and IN to the Treasury market thus helping the fed out with quantitative easing efforts. AND capital will flow OUT of other currencies and IN to the Dollar. Right or Wrong, the “perceived value” will be with the US Dollar and US Treasuries and the stock market will take the hit. If the Currency and Bond markets (which are vastly bigger than the stock market) were to crash, we would be in a depression within weeks. Thank you for the opportunity to answer this question..
The huge debt will be hyperinflated away.
I just voted with the majority although I admit that I am not really sure what will happen. If we look at the United States as an isolated country and the course we are currently following, it will ultimately lead to a financial collapse. I think our present leaders are like a bad chess player who is so busy with his own plan, he forgets there is an opponent with a plan of their own that has to watched and responded to. I think they also believe that the rest of the world will not let us collapse as we are major consumers that have to be supported. It could get to the point though where they might like to and can’t. I am hoping for a change of leadership in the next election that will force a change of course.
The USA as well as Europe have completely missed the changes that took place in the rest of the world initially slowly in the ‘80s and then faster and faster through the 90s and at incredible pace in the third millennium . We, western world have just thought we were smarter , more educated and able to do and think differently . All this was just hubris ! While our politicians kept offering any kind of entitlement to anyone capable of whining or unwilling to work hard enough , hungry citizens in the emerging markets started manufacturing companies and quickly became our subcontractors and then our suppliers . I do remember when I first landed in Seoul in 1980 and I was told that a major contractor was planning to move from real estate and to car manufacturing.
30 years later the former contractor, now Hyundai Motor is a money machine , manufacturing some of the best quality cars in the world and making profits when everybody else financial statements –Japanese producers included- were running torrents of red ink . And yet even when confronted with facts, the western ruling class has no guts to tell how the reality REALLY is . We keep listening that things are improving, that the Fed and the ECB will take care of troubles , that there are signs of recovery . Maybe I’m too silly but I just can’t see such signs : unfortunately I can read how much debt the almost bankrupt western world has piled up and how willing our politicians and bureaucrats are to keep on printing .
Guido Verona , Italy
Sir,
I am an English [I am English NOT British] citizen but an ardent pro-American; my wife is American. The USA has been the greatest nation on the planet as far as I am concerned and one wonders what the state of the planet would be now if it hadn’t been for the USA over recent decades. Would we be under the Nazi jackboot? Would we be squashed by the Russian bear? I have always been proud when the UK has stood alongside the USA even if I didn’t necessarily think that the US was right. I tell you now it is becoming a strain. It is time that US citizens started to look at themselves. As Robbie Burns [the Bard of Scotland] said….”If we could see ourselves as others see us.”
Sadly I can only use the past tense to describe the USA as the greatest nation on the planet. In England the joke is that the USA stands for the United Scams of America. Almost everything in the USA now appears either a fraud, a scam or a sham.
The stockmarket goes up 70% but even Wall St. insiders say nobody is buying shares. A big scam in the precious metals market involving BIG Wall St. banks is just now unfolding. Government statistics are a total sham. Swine Flu never existed but was greeted with mass hysteria in the USA promoted by the media so that drug companies could make a killing and then $millions of the unused drugs were just dumped – in the UK and Europe swine flu hardly got a mention. The FED which is supposed to look after the country blatantly only looks after Wall. St..
The standard of education in the US is dreadful. I am living in the US temporarily – I have spoken to TOP high school scholars, the cream at their schools who haven’t got a clue about anything outside the USA. One girl asked me to check her 2 pages “thesis” for her college application for grammar – not one single sentence was constructed properly – NOT ONE ON TWO PAGES!! A top scholar at the school!! Staggeringly she got in to her first choice college at the first time of asking!
If you want to see how the USA is going, read a potted economic and political history of the UK over the last 120 years. Socialism has destoyed the UK [apart from the brief period when Maggie Thatcher was in power] but it has taken 120 years; in the US it is taking about 120 months. I don’t care whether the Republicans or the Democrats are power – the USA like the UK is apolitical. True Democracy is dying in the USA.
In the USA the fantasy of Hollywood is becoming the reality of the people which is what the elite want. At break-time my nephew, at a very nice school, says that the school kids are not allowed to stand up and talk as this is regarded as engendering gang warfare; they have to sit down to chat!!!! I think you have a lot more to worry about than bond prices.
Concerned about the USA but still a fan!
Regards.
Nonsense. Sooner or later the baboons running this show will have to come to terms with the following fact: we are at war. The rich and their pimps in congress shall have to pay the tax rate of world war II: 90%. Ok? Otherwise we shall have good ol’ communism here for EVERYBODY, not just the bankers and wall street. Ok? And even that is’nt going to work, we no longer make much of anything, and have lived on borrowed communist money for 20 years, have exported but all of our industries, and allowed slave labor to run rampant across our borders. Duh? Howya gonna fix dat, morons?
It does not take a rocket scientist to take a moment and really look at the state of our county. When one looks at the disparity of the soon to be late “Middle Class”, it is easy to see how poorly our Country and Corporate “leaders” have focused on their personal agendas not those of the hard working class. Many of these leaders should be tried for treason against the middle class.
I daily give thanks for conservatives like Glenn Beck etc… that are not afraid to tell the truth at whatever cost. When I hear people put conservatives down, I always ask them if they even listen to them (specifically Beck). None of them even listen to him on a daily basis to even judge what he says as being truth or false. All the people I have met that speak ill gain of conservatives, have already made up their minds. Maybe their parents or their grand parents had government jobs or were on the government doe and taught them to have dependent minds. Or maybe, they themselves have been on government doe sometime in their lives. Personally, I have not taken from the government, and don’t want anything from the government except for the protection of my freedom and liberty. I am a survivor and will always be a survivor because I don’t look to the government to fullfill any of my needs or wants. My needs are met by myself through a power much higher than a government. I wonder how long this government would stand if all the givers told the takers to buzz off and left the country. As for me and my family, that is exactly what we are doing!!!!!
Last week I experienced an incident that epitomizes just how dysfunctional and corrupt our government has become.
I am 81 and require aspirin and plavix to ameliorate further heart & peripheral vascular problems. The cost for one month supply of Plavix @ Costco and after my Medicare supplement is $527. The cost at retail pharmacies was quoted @ over $1000.
I decided to check Canadian pharmacies online, Pharmacy America in British Columbia 888-392-7257, offered the generic plavix @ $50.00 for 180 or 6 month supply. The generic is manufactured by Cipla, an Indian pharmceutical that is extremely ethical. Cipa manufactures drugs for the World Health Organizations used to combat diseases such as Aids.
Extrapolate Costco’s charge to 180 tablets –> over $3000.00 for Medicare clients. Regular pharmacy charges for 180 tablets –> well over $6000 for non Medicare clients. This is an onerous and unconscionable burden imposed on the American public.
This is just one example of corrupt relations between congress and business/Wall Street as evident by their block of Canadian drug purchases by US goverment and states. The new Medical bill is flush with similar buddy buddy arrangements between the US Congresss and the drug and health industry.
This same corrupt relationship between the US Congress and other private industrial groups such as the Military Industrial complex is just as extreme. The taxpayers are forced into paying for an illogical war with their money and children’s blood. The public is forced to pay for killing their own children.
Jess Ledbetter
Washington you have not listened to the people and you are taking our country over a cliff with your irresponsible spending that can not sustain itself. Your attempt to redistribute wealth is taking our country to socialism. Freedom as I have always known is quickly disappearing.
I don’t see how a 5.6% global GDP can possible service the soveriegn debt in the world today without inflating all the fiats.
To continue arguing the party line as the cause or solution to anything is redundant gibberish. Everyone of us are to blame, both parties, we have been lazy in allowing first one lie to exist when we knew it was wrong, then another and another. Elections are bought. Any one notice the same faces around the seats of power after the election?
The “Crime in Progress” continues as the largest and most powerful banks consume, one by one, their carrion prey. They even have the audacity to refer to the process as capitalism. It is not, It is greed. Has anyone thought of the ethics involved? Or have we outgrown our need for such a primitive virtue.
Over the course of years, many political moves and changes in the law, have left the most powerful banks with an unfair advantage to plunder the country and its people for personal gain. How much money does anyone need?
Capitalism is about building and adding value. What these banksters are doing is over-consumption, it’s called gluttony. It is also social cannibalism. The blatant manipulation of the Comex gold and silver market is a good example as CFTC regulators ignore the on going rape of once free markets. The proof of the banksters illegal actions were set before the CFTC and they did nothing. The press? They did nothing. Nothing can be done as all the cops have been bought off and events will run their course to the inevitable end, complete destruction of what was once a great country. You win! If you can call it that.
The American Public has been lulled into believing their vote counts. It does not matter who is voted in, “they” are all the same. They are self serving criminals.
Absolutely disgusting, who voted these people in, in the first place, idiots I’m sure. Must have had a bunch o flifer politicians in office. Hell will come upon them in November when they all will be out looking for a real job. I’m sick of this bubble land and they’re doing it with gold at the moment and will put the jewelry business “out of business.” As with oil again he we go with the $100. a barrel bubble +.
What will they say when our name becomes “The Socialist Republic of America”. The greedy fools, the idiots..!!!!
The U.S.A. is officially a welfare, warfare state. By welfare, I mean that right now approximately 50% of the people pay zero income taxes, and that percentage will grow even more going forward. Also, we have been almost continually at war since the end of World War II in various police actions all over the world, and the cold war with the Soviet Union. The republic cannot support both any longer. Something has to give. We have to stop one or both if this country is to survive and not end up being a third world country.
Government has gotten too big, and no longer cares what the people want or think. As our founding fathers warned, big government means tyranny, and we have seen that recently with the passage of the healthcare bill, and the bailing out of the big banks; the next thing they will cram down our throats is “Cap & Trade.” Also, the government and the Fed are in bed with these big banks; they do its bidding and market interference and manipulation so said in the best interests of the country. But in who’s best interest? Surely not ours, we have to pay for it in higher taxes and a lower standard of living. We need to get back to a “limited” government with all the checks and balances entailed in the Constitution. The size and power of the Federal Government needs to be reduced, and I mean significantly reduced if this country is to return to its roots and former glory. Big government, with all it’s power and bureaucracy, complicates ourlives, raises the cost of everything, and adds no value to anything. Power needs to be returned to the states and to the people.
Actions have consequences so something will cause treasuries to crash, sooner rater than later. I am not one that believes that November 2010 elections will “fix” America. Obama does not fear or care what the electorate can or will do. He will just “Executive Order it” done or appoint a czar to circumvent Congress, etc. America was founded and thrived on Christian principles — generally, the 10 Commandments. While any religion was protected and respected, God and His principles have been kicked to the curb. My belief is that He has left us to our own devices. We’ll be harvesting what we have sown soon without a last minute miracle to save the day.
The ant labors and saves in the good times to have capital for the hard times. The grasshopper lazily consumes all in good times only to have nothing in bad times. Our country is more like the grasshopper. Many are not prepared for famine and loss. So much talk about increasing taxes on the productive for the purpose of giving to the unproductive. The USA was built at a time of low tax rates. For the first century of our existence income was not taxed at all.
Here is my answer to what everyone is concerend about. May it give you the hope it gave me. I have been a poet since I was 10 years old and I am now 77. This was the first of any political poetry I have ever written and you can tell by the copyright date it wasn’t long ago.
April 20, 09
(American flag the constitution will win) )
To my great surprise I listen and learn,
While listening to God, ‘twas hard to discern,
He wanted this written, his message to send,
To those who believe, “on me you’ll depend,
I will protect you from hate in the world,
I’ve wrapped you in love and your flag will unfurl,
The American flag, the Constitution will win,
I have ordained it, and again you begin!”
Copyright 2009 Marie Kliewer
If you term this poem “religion” then you will throw it out ,if you see the value of hope then you could be blessed as I am for recieving it.Take note of the last line as I heard it.
go.My poetry is mostly spiritual.
They attacked Paul Ryan’s “Roadmap for America’s Future” which was also endorsed by the Congressional Budget Office. It is obvious they are trying to create another crisis to rescue us with more crushing legislation or they don’t really care, but more likely it’s both.
It’s time to cure the cancer and vote them out.
Amen
I am worried about the financial melt down of this country, not so much as it will turn us into a third world country, but how the people will react. Todays society is much more barbaric than when the great depression hit in 1929. People today are of the me generation and care nothing about their neighbor. When our economy collapses(and it will) you will see people at their worst. Look at New Orleans after Hurricane Katrina and see how the people were there, violent, stealing from one another and so on. There will be no law and order only chaos and when we can’t take any more the government will step in and declare martial law. Good bye America, hello one world government.
Until a few weeks ago, I kept wondering why the value of the dollar hasn’t fallen to at least half of where it is presently, if not having totally collapsed. What I have discovered is that the Central Banks and governments of the “free” industrialized world are working in conjunction with each other to keep debt and deficits growing in conjunction with each other, or in a balanced way. As a result, none of there economies or currencys fall relative to the rest. I have to addmit that I am a conspiracy theorist that believes what is happening is all orchestrated. If there aren’t conspiracies occurring, then why do the G7 meetings/G20 meetings/trilateral meetings/etc. occur. The respective people don’t attend those meetings to eat candy — they have an agenda that is geared to make things happen in the world. News reports provide information regarding these meetings that do not add up to the picture reality presents to us. It isn’t just a collapse of the U.S. Dollar or the U.S. economy that will happen. It is a total collapse of the curriencies and economies of most of the “free” world. Brazil appears to be in the best shape to weather the storm that is coming. Your latest survey regarding the collapse of the Bond market will probably not occur as soon as the end of 2012 due to the time it will take to orchestrate the collapse of a number of “free” world economies and their currencies. This will require more time. However, there is a slight chance that it may occur, and if it does it will be more than just a Bond market collapse. I believe that when the “powers that be” decide to let a collapse occur, the President of the United States will have within his power to use the “martial law” afforded him by the Patriot Act. The question will be whether our government will have a socialistic president/congress, or a conservative/constitutional president/congress. That will determine whether America can begin again as it did in 1787, or as Russia did in 1917.
Hi
I am Canadian, and we are very lucky to have a v/g conservative gov’nt. O we have our spenders,and whiners. But fortunately Steven Harper just ignores them –also the bleeding heart media. I think USA will survive,but in aweaker form.I wonder who voted in your your Democrats–with no proven record !!! The average citizen must wake up and be counted.Get involved–be well informed. Anyway good luck to you all
Denis
The coming storm is going to make 1929 and 2009 look like a joy ride. This coming money and bond storm will leave many retirement funds totally broke.
The U. S. goverment will have no money to pay any bills and repayments.
There are too many entitlements, too many special interests, too many parasites at the government trough. Washington will NEVER stop spending–they can’t! Here are some events that would/should come to past if the country is to have a meaningful future:
1. A constitutional amendent to restrict gov’t spending to non-borrowed receipts except in case of war and ONLY in pursuit of that war. A balanced budget amendment means nothing–they merely appropriate funds over-budget as they
see fit.
2. Abolish the Federal Reserve.
3. Abolish the IRS and establish a Fair Tax.
4. Abolish all Federal Courts with the Supreme Court sitting primarly to resolve
disputes between the states. State courts would handle the rest. Also abolish
class action lawsuits, punitive damages and other legal actions that diminish personal responsibility in the actions.
5. Initiate term limits on all senators and representatives and disallow any of their
perks (i.e. lifetime pension after serving one term) that are not equivalent to those enjoyed by the general population.
They won’t stop until we become a complete entitlement country and they control everything. Progressives, Republican and Democrat but way mostly democrats have had an agenda since Hoover became president to slowly change us over, called by different names, progressive, liberals, marxist, commies etc. Agenda is same redistribution of wealth and government control everything, really shoots down free market……Government run sections sure have a good record, Social Security, US Post Office, now banking and Health care !!!! And they will encrease taxes for wealthy now but get all soon… Its hard to really invest now and hope government doesn’t encrease taxes so much you lose gain in market. It will get worse and we are going to have to get back to making more things are self (manufacture) we can do it but its gonna take several decades if we start now. Spending and printing more money isn’t gonna work much longer……. Need a flat type tax I think Oh yea I forgot also Freddie and Fannie are other great examples of a government run business…..People will have to save !! to get there large item as credit is going to get extremely hard to come by for individuals and small and large businesses unless you are government run maybe ?…. anyway all have a nice day and keep safe.
Unfortunately most people do not know what the world will be like 5 0r 10 years from now, but a simple look at where the research money is being spent will show you that most of this discussion will not matter whenever the new break-throughs are made. How about eradicating Polio? Did you know that for all practical purposes Polio only exists in two countries? India and Nigeria. Think about the reduction in health care costs. Another area to look at is materials processing and use; (raw materials) use is expected to drop three to five fold and products are expected to last forever (really). This is not pie in the sky it really will happen. The question is, can we hang on long enough? Because no one can predict when these things will happen. But remember that the horse was replaced by the car in approximately 10 years. So the plans to evacuate New York City when it became bogged down in horse manure never had to be used.(thank God). This is a very small look at the changes that are going to take place, and very soon. My advice is to invest in research to have an effect on the world of the future.
Give a man a fish and he’ll eat for a day, teach a man to fish and he’ll eat for a
lifetime. Our leaders don’t want us to fish they want to reach the tipping point at which less than 50% of Americans will be taxpayers and then the USA can become the socialist welfare state they would like it to be. I am continually amazed at how many people think they can live my life better than I can. Good-bye world power, hello asterisk in the dust bin of history.
It now shows just how incredibly important it is to elect honest and qualified representatives. We have an economy falling apart only because the people we elected for the last 30 years see the budget and legislative process as a means to further their careers only. They passed laws for those 30 years which destroyed the manufacturing and agricultural sectors. Some of those laws are actually treason. Our founding fathers stated that it was the express function of the gov’t to favor domestic businesses. By so doing , in their expansion they would compete for workers and bid up wages. I propose that all candidates need to take an economics literacy test with results available to the public.
Martin, Thanks to the oppertunities I have had in my life, I have done well, my wife and I are about to downsize in a big way and stop working (paying too much in taxes) and go on some adventure in our 5th wheel. I fear for my children and my grandson and can only wonder at where they will get their chances to make the type of gains possible during my working years. Thanks for who you are and the help that you have given people like myself who who read your publications. If things do not go well (take back the house minimum) in the November elections, I see no point staying politically involved after that. Thanks for all your efforts in trying to help the American people! Sincerely, Larry Flewelling
it is said that our country will be destroyed from within
our present administration seems happy to make it a truism
Government has become so disconnected both with those it has been elected to serve as well as to the reality. These same persons and groups in their hire will not be effected by the results and much of the results will not impact them individually.
The 800 lb gorilla in the room is the baby boomer generation which is just beginning to impact government spending. The result will be that spending at Federal level will be to make good on the promises made. Government will then undertake national defense, social security, medicare and that will be about all.
In addition that generation owns most all assets that are required to service the promises and this generation is such a large portion of the population and particularly the voting population that all will be subordinated to baby boomers.
The above will assure that the U.S and western European economies will be in decline and depression for the next 15 to 20 years. Nothing else much matters.
Thanks
Here is how I see it: Profound and unprecedented change is in the air. Our planet and everyone on it is increasing in vibration. Earthquakes and extreme weather continues. And the chaos we see pervading our financial, political, religious and environmental areas are all related to this change.
We are evolving in consciousness. We can no longer continue to live on this planet without regard for life. Our collective consciousness (of which Earth is part) is therefore ascending. We are beginning to remember that we are all connected together and we are of one consciousness. We are beginning to realize that when we disregard life, we pay the consequences. When we hurt one, we affect the whole. There is no such thing as “profiting” when we do so by devaluing life. And so, that which does not value life, now begins to crumble before our collective eyes. It is crumbling because it is not sustainable in the ordering of reality that pervades the higher vibrations. Not valuing all life, is not “real”, just as poverty and pain is not real to the banker who has come to believe that he deserves 20 million dollar bonus while others suffer great losses because of his greed.
We are moving towards a more sustainable consciousness, individually and collectively. The old self-serving and greedy ways will no longer work. Only that which values life will survive. The untruths, the hidden and secret lies are being exposed and will continue to come into the light, as the vibrations of this planet continue to increase and move all closer to the vibration of truth, light… and love.
We move now from an “intellect” centered society to a “heart” centered one. And we slowly realize that the mind was never meant to lead – it was meant to serve… the heart. Heart centered politicians, businesses, religious organizations and leaders, now start to come forward into the mass consciousness, as the old ways begin to crumble. Watch! … and observe the mighty hand of love transform our world.
I think the time for talk and half measures is over. The second American Revolution is way over due. If we do not take our country back from these Marxists in November then we have nobody to blame but ourselves. We are 300 million against 535 so there is no excuse. Reviving Newt’s “Contract with America” from 1994 would be a great start. I believe they have heard us and just don’t care what we think. Our Founding Fathers are no doubt mortified from the great beyond.
Anybody with half a brain knows the current Administration would like to break the sytem so that they can step in and save it—oh my— lions and tigers and bears–oz.
What really concerns me the most, about this country and our future, is are we far to gone? have we stretched ourselves to the point of no return? With the new world deficit? How can we ever regain what has been spent. We are at war at our own expense! and who really know’s when that will come a halt! This war that we are fighting in the middle east, will never win. As long as there is controversy over who’s God and Who’s not, what a waste of tax payers money. The money we spent as a nation we will never be able to overcome in this life time, nor in my childrens. We should have increased our intelligence outside the U.S. and strenthened our borders without going to war. What a waste of time and money, just because we are a world power. We, as a country, should just take care of our own problems, protect ourselves, and say to the world if you want a piece of us come and try. We are such a bullying nation now it really disturbs me. If any nation wants peace, they must exercise it, sorry we have fallen short of who we are and whom God really expected the U.S. wanted us to be. I am so ashamed.
MARTIN, IT WOULD BE IMPOSSIBLE FOR ME TO EXAGGERATE THE DANGER OUR COUNTRY FACES. OUR PUBLIC SERVANTS (MY FAVORITE OXYMORON) SEEM TO BE OBLIVIOUS TO REALITY. GOD HELP US IF THIS GOES ON MUCH LONGER.
I think we should pass a constitutional amendment limiting government spending to 17% of the previous years GDP. We should also require a tax return showing a contribution in order to be eligible to vote.
Many years ago, the Democrats learned they could buy loyalty and political power with our money, and so they have. The Republicans, being not stupid, but slow, picked up on the idea and carried the ball in their turn. They began feeding the Alligator until he became used to it, expected it, and now demands it. How do you stop feeding that Alligator?
Is it worth Detroit, Atlanta, Houston, Pittsburgh, Philadelphia, LA and SF and half a dozen others lying in smoldering ruins?
But, what if you can continue the snow job, get credit for doing it, and in the end blame those rich white bastards on Wall Street?
I’ve been told that history casts its shadow before itself. I commend to you the date July 14,1789. Think about it.bob
I am fearful that it is now too late to reverse the brainwashing that has been administered to our Legislators, Central Bank Moguls, and about all of our Liberal Voters who represent at least half of the voting population. So I may sound desperate in some of the ideas that have crossed my mind.
Am sure that you have heard of Ed Feulner and possibly know him personnally. He is the President of The Heritage Foundation in Washington DC, and I doubt that there is any difference in his or your philosophy with respect to what is now going on in our country, and the catastrophic results soon to be experienced by us all. Ed sent me an e-mail this morning about his organization’s plan to send a Money Bomb (figuratively speaking) to our President, Congress and Central Bank Pres., criticizing how taxpayer money is being used, and that we are fed up will not take it anymore!!!! This is scheduled for Thursday, April 15 which is Tax Day.
Have you ever encouraged or enlisted your numerous Clients to enter into an action of this sort? My thought here is the possible impact would be much greater on our Reps. and Sens. who seem motivated only by their desire to be re-elected. I also thought that Ed might reciprocate by joining your efforts to promote a Sound Dollar. I know that time is extremely short, but it is an idea that could better get the attention of our profligate spenders in DC.
Kindest Regards; Hugo Baldelli
I believe Mike is looking down the gun barrel of the robbers and calling them thieves. I for one believe that investing in CANADA in Canadian Dollars is and will be the place to invest. Its a a country with the largest amount of untapped natural resources and vast amounts of fresh water and minerals. If there is going to be a massive global recovery then those resources and commodities have to come from somewhere and if CHINA and INDIA are competing agaist the USA then CANADA is the place where future fortunes will be made and stability will come from, for without those resources and commodities in CANADA nothing is going to be produced for the massive new middle class.
Mike wrote ” #3. Protection of the MASSIVE UNREGULATED INTEREST RATE DERIVATIVES MARKET which is over $250 TRILLION in this country alone!!!! Ben and his peers around the world know this. So, I believe, like your Weiss Capital Management folks (ie. Mike Burdick etc) that there will most likely be a flight to quality and that means the US dollar and the US Treasury markets. This is the best case scenario for a sick US and world economy. Why? Because as you are currently seeing and will accelerate, capital will flow OUT of the stock market and IN to the Treasury market thus helping the fed out with quantitative easing efforts. AND capital will flow OUT of other currencies and IN to the Dollar. Right or Wrong, the “perceived value” will be with the US Dollar and US Treasuries and the stock market will take the hit. If the Currency and Bond markets (which are vastly bigger than the stock market) were to crash, we would be in a depression within weeks. “
Democracy as we have it is much closer to collectivism than it is to liberty and individual right.The transition from freedom to servitude is progressive and its progress can almost be measure by the level of debt each democratic government has. People that think that the government is “us” because they vote for its leaders are living in the Twilight Zone. Some one said “it isn’t necessary for a politician to fool all the people all of the time but a majority on Election Day is enough.”
As a Canadian I can only watch with astonishment. Over the past 30 years I have watched a political party come in to power with the similar or same ajenda as your Democrats here in Canada called New Democrats. The policy has always been know as” Spend More Tax More” it is that simple. This party has come in to power and spends like there is no tomorrow furthermore they create thousands of atrifical jobs which are only sustainable for 1-3 years because they are not market driven but jobs supported by government funds. During their short stay in power as they are always eventually kicked out for non confidence or simply kicked out for other similar issues (huge deficts).Then the majority of the public realizes their way of thinking and policies are destroying the province all together. In the meantime they raise the taxes on what they claim is on the rich (due to their spending) however it eventually hurts the poor far worse as the rich and corporation have good accountants which find loop holes. This then slows the economy as businesses leave by the thousands to find provinces with lower tax rates, unemployment skyrockets which in turn destroys real estate values usually up to -30% on average. The 3 times they have been in power over the past 30 years this cycle is the same ,spend . Now the interesting part is that once they are thrown out the new party gets in and cuts spending , provides tax incentives, lowers tax rates within 2 years the economy gets new life , the job market comes back strong and real estate starts to rise with a steady increase in values as well as an increase in building permits, employment.
I am not sure why more people can not see how this will unfold, it does not matter which party is in power its the policies, “spend more then tax more” does not work and never has, real estate suffers, businesses suffer and the job loss/ unemployment is huge.
America is and always will be the greatest country in the world, it is one place people can dream for a better life and get it however at the moment based on how I see it changes need to be made and fast.
Dear Martin,
The question should be: How long before the USA will repudiate all foreign-held debt? How long before we repudiate all government debts–federal, state, county, local—debts, entitlements, obligations, liabilities, guarantees?
Obama and the Congress need money, BADLY. Why else the talk of a turnover tax, a VAT? Why else the talk of a government run program to replace our 401s and IRAs? the government has no intention of solvency. the governments need MONEY. They’ll do whatever to get it.
Heaven protect us all! Benton
It appears that we could be a 3rd world country within 5 years.
B Taylor, your last sentence is a gem.
The real issue as I see it is this. the USA have spent far beyond its capability of repaying and the crunch has to come at some point. The question is what will happen then? I know the US are in two wars at the moment but bad as these are they could be termed wars of containment, not outright conflagrations of death and destruction such as WW1 or WW2. When the money finally runs out will the US resort to waging “real” war on a large scale with all the associated destruction as a means to wipe all slates clean, including its debth. I cannot see an alternative as I don not believe the US will allow itself to become a third rate nation, which is where it is heading at this point. Watch out Iran, Saudi……..?
While I’m not an American I do fear that the financial problems occuring in the US is going to affect all countries. I’m also concerned that if the economy tanks that there could be civil insurection and or military control of the country. I know that this sound extreme and I hope it never happens but if you get ten of millions of people ticked off who know what will happen.
This crisis will be settled in the Bond Market without a doubt.
Cheating the bond Market with Quantative Easing (Im from the UK)or any other Bond buy back scheme, like the USA has, will be doomed once Bond Yields go to double digit levels, to attract any remaining outside cash interest. When this happens the UK and USA Government will have to defend the currency or stop paying its Government employees and crackpot quango (money for the “on message” Political cheering crowd) schemes…Simple as!. Ultimately they wont have a choice
It will be a marvel to see these shame faced administrations eat humble pie, but it’s the little people that will be paying for years to dig us out of this mess while the Politicians retire on generous pensions. Do I sound angry? If I ran my own fortunes like this I would have been hauled before a bankruptcy Judge long ago.
The damage will be with us immediately and for a generation. The UK and USA are wonderful countries with resourceful people and enterprises despite, not because of, the Politicians self serving efforts.
I think we will come out of this leaner and fitter, and the hope is, that with Weiss help, be among the fortunate to have some value in my pocket to get back in when the turnaround comes. I just hope that people have very long memories and that we have a meaningful choice when we vote in new Political Representatives. Remember that a Politicians first job is the stay in power, a timely reminder wouldn’t go amiss to these reckless incumbants, whatever their political colour
The current financial crisis in the United States is beyond economics. It is, rather, a cultural crisis. The American “entitlement” culture is what must collapse and that will not happen until the economy is in complete ruin. Only then and perhaps, not even then, will the American people demand of themselves, their politicians and their political institutions prudence and responsibility. Freedom has always been more about the hard work of responsibilities than the easy cry for rights.
Some people would call me a “conspiracy person” but I sincerely believe President Obama and the people backing him are out to destroy our country. He is a strong Marxist and hates capitalism. A list of his accomplishments (?) show an effort to bankrupt our country, destroy the middle class by massive taxes, socialize as many private businesses as possible, control our private lives through the Obamacare, and take away as many personal freedoms as possible. Please wake up America and fight this menace with all your might. May God help our country!!
America is treading in “unprecedented” territory, and could end our existence as a sovereign nation abruptly! I know this sounds overly simplistic, but I believe there are very few parallels between the “crash of 1929″, and what happened in 2008.
We have witnessed the collapse of the “housing bubble”, the collapse of “Fannie Mae”, “Freddy Mac”, “AIG”, “Lehman Brothers”, “GM” and others, and horrid acts of fraud, dishonesty, and flagrant extortion of wealth from the citizens of America (since the new administration took office), and where was the leadership of our (elected) public servants in Congress? Over time, we learned that legislation for “political change” was coming so-fast that our elected officials didn’t have “time to read” through all of the volumes, and yet, had to vote in favor of “written documents” that were supplied to congress, by “someone else” (maybe the Federal Reserve). A majority of (Nancy Palosi’s) Congress had to pass these documents (very fast) in order that they could be signed by the President (first Bush, then Obama) into law. This was a “criminal” response politically by Congress, just as such voting (by Congress some) 96 years earlier in December 1913, when Congress rushed [legislation through], to pass the Federal Reserve Act, so Woodrow Wilson could sign that “unlawful” piece of legislation into law! America was “high jacked” at that signed piece of legislation, and none other than Woodrow Wilson said so (himself), later as he approached death!
I think that the next collapse in American Government will be the greatest upheaval yet! The U.S. Treasury’s collapse brought on by the demise in value of the dollar, will wreak more “havoc” on the economy and deliver more agony and pain to average Americans than the “subprime Mortgage disaster”, “the housing bust”, “the banking crisis”, and the “collapse of GM”, put together. The Peoples Bank of China is now calling on the world to replace the U.S. Dollar as the world’s reserve currency, and for the I.M.F. to issue a new single, Super Sovereign Currency. What will the new currency be called, the Amero? “Debt” is the major cause of our country’s demise, and could lead to America’s ultimate extinction, as a nation! U.S. banks now hold obligations that exceed $200,000,000,000,000.00 (trillion), and combined with derivatives, may be as high as $1,100,000,000,000,000.00 (1.1 quadrillion dollars), according to the (U.S.) Office of the Controllers of the Currency!
The Australians call the present group of Democrats in American Government, the “watermelon politicians”! They are “green” on the exterior, but “RED” on the interior (communist)! Obama’s campaign promises for “change in government” are clearly right on schedule. But are these changes going to make this country stronger, or is this a “national meltdown”? I think it will be the latter!
We have a couple of generations that have beens programmed to accept socialism/marxism. Not enough parents took the time to find out what was being taught and what was being ignored. Our Founding Fathers have been made to look as if they were atheists, greedy, evil and wicked. Their values upon which our inspired consitution was created have been made a mockery. Our nation cannot survive as a republic unless our people become educated as to what has happened and become willing to pay the price, make the sacrifices necessary to restore our republic, preserve our constitution and make the future better for our children and grandchildren. We have abdicated personal responsibility. If we, as a people, return to the values our founders had, revere and protect our God inspired constitution which protects the freedoms which come from Gold, accepot personal responsibility, with God’s help, we may be able to save this great republic!
AMERICA THE GREAT, I.E. AS LONG AS WE HAVE GREAT MINDS TO LEAD. WE HAVE NONE OF THAT NOW. IT IS SPECULATIVE TO SAY THE NEXT VOTING OF REPS AND OTHERS WILL CREATE CONSTRUCTIVE CHANGE…JEREMIAH SAYS WE WILL BE INVADED FOR PROPERTY TO PAY OUR DEBTS CHPTRS 50 & 51. DIFFICULT TO DEAL WITH AN OUT OF CONTROL REPRESENTATION. WE ARE IN THE HANDS OF OBLIVION AND IDIOCY. INDIVIDUALISM CAN SURVIVE, BUT THE NATION MAY NOT. WHEN OUTGO EXCEEDS INCOME WE GO BROKE.
To me, the ONLY scenario in which any of the government’s shenanigans over the last ten years makes sense is a plan to completely and utterly destroy our country and our financial system. What we have in place now is completely unsustainable. I give us a year, maybe two, of refinancing the bulk of our debt at short term rates. As those rates rise, taxes will follow (watch for higher income tax PLUS a Value Added or national sales tax). Our “leaders” can only see as far into the future as what they can rape and pillage us (tax paying citizens) for today.
A simple question: In this dangerous world, how will the U.S., Britian, and others, maintain thier military?
I have been prepping for 4 years. All discretionary income has gone for water purification systems, food, weapons and ammo, communications, energy alternatives, ad infin. I have also purchased silver in eagles and junk pre65 stuff to about 500 oz. back when it was cheap. I am convinced beyond any doubt whatsoever, that the best course of action (inevitable anyway) is to crash the whole corrupt system and start over. No FED, nor IR(SS), no fiat currency. Shall we discuss the CFTC and no coverage at all on the MSM. How about the golorious SEC. No Thanks. Let’s get it over and done with so we can move on whithout the Dem/Repub scum.
I equate what is happening in our country to what happens to a bubble stock market. Just before the crash there is a blowoff buying spree. What we have going on now is a blowoff spending spree. Just like with a bubble stock market, it is hard to say exactly how long this spending bubble will go on. They always seem to last far longer than anyone expects, but pop it will and when it does it will be a disaster.
Why is it nobody in Washington or on the news is talking about the elephant in the room – THE FEDERAL RESERVE AND IMF AND THE WORLD BANK? I know it will be painful, but we must resort back to the gold standard world wide!
It somewhat satisfying to see so many responses that vindicate and represent my point of view. We have a totally disconnected main stream media that allows the politicans who want expansion of goverment progams regardless of cost and have seased to inform the public as to what is coming down the road.
May God protect us all.
Larry Carter
I take exception to those who blame the Administration. It is the Congress that determines the budget, and the extent by which the expenditures exceed the revenue. Each Congresses passes the ever expanding public debt on to the next, because it can, without regard for the consequences of adding to a debt that can never be repaid; validating a conclusion that I drew many years ago, that the two party system, controlled by monied interests, would destroy the Republic.
What really bothers me is that some how profit and capitalism are bad words. Bad words to politicians, and basically anyone younger than 40 to 45 years of age.
The mentality is that the government will fix everything. Tax the rich for more money to spend. When you ask who are the rich? The answer is anyone making more than $100,000.00 . Please that is ridicules.
What has happened to work harder, longer and smarter? What is wrong with competition? Why is everyone being equal good?
I do not see the U.S. changing and I am scared and wondering where and when do I leave.
The US is on a runaway train going downhill. The only way to stop it is to vote ALL incumbants out of office and get new blood in. This should happen right at the top with the President and go right down to the smallest town and village in the country.
I believe we have little to no chance of preventing the inevitable. To my way of thinking, strong forces that want what they want, virtually eliminate the chance of stopping this financial Armageddon. At least until it is to far down the road to prevent the extreme and inevitable financial damage projected. There is an old saying: “A man convinced against his will is of the same opinion still.”
History will continue to repeat itself long after we are gone. Few learn from the past. Those that do, profit. Those that don’t, parish, financially, spiritually, morally and otherwise. It has been that way since the beginning of time and it will be that way long after we are all gone.
I would like to be more optimistic, but sadly, it has been my experience that a man convinced against his will is of the same opinion still. Perhaps the real solution is to embrace this as the opportunity it most certainly is.
Suddenly deficits matter. What a difference 10 yrs make’s. Wasn’t the budget balanced back in 2000?, at least relatively. What happened; Tax cuts & cheap money after the dot com bust. Homeland security expenses & war in response to 9/11/2001- (a war run rather well I thought, at least then.) A personal wet dream of a war in Iraq sold to the American public with the help of unreliable information & the Pearl Harbor affect of 9/11. Millions & Billions spent without due accounting in the form of unbid contracts to favorite son corporations, Some of whom skipped town as soon as they smelled the gravy train slowing. How Patriotic. And of course the wall st bailouts beginning the Fall of 08. There seems no end to to it. But its an old story really, one of greed, power, arrogance & control, not to mention dishonesty. James T
We have little to no chance of preventing the inevitable. Strong forces that virtually eliminate the chance of stopping this financial Armageddon until it is to far down the road to prevent the financial damage described in many discussions.
History will continue to repeat itself long after we are gone. Few learn from the past. Those that do, profit. Those that don’t, parish, financially, spiritually, morally and otherwise. It has been that way since the beginning of time and it will be that way long after we are all gone.
Perhaps the real solution is to embrace this as the opportunity it most certainly has the potential to be.
Hello Martin, hi Mike:
A lot of pessimism printed above. I am pessimistic only as far as the realism of our current crisis / situation. I believe, before the twelfth hour, and unseen today, a turn in events will occur to save us all. That’s just the way we are in this country.
We live with an underlying, never to be defeated, enthusiasm that will always prevail.
I believe too, that the work you and your firm have been doing to keep us all informed, will be a major factor in our recognition of the solution when it appears.
i dont think that the elites care about our dollar or our future they are in a headlong hurry to sell out our national sovereignty and put us on a world currency
I am currently looking to buy my retirement home, but I am scared to death that if I buy it in the U.S that I will eventually regret it. I keep reading not only from Martins people but others, that a bond crisis is comming and that any American citizen anywhere on Earth will pay through the nose for our Nations recklous behavior. I am comming to the conclusion that I cannot afford citizenship, let alone a house, in a Nation so wraped up in a debtors way of life.
I was taught when I was a kid by both my mother and father that there is no such thing as good debt. I have stayed away from credit cards, new cars and mortgages. I never had money when I was a young man in college, so with every job I have had I put at least 30% of my pay check into savings. I am now 51 and retired with a house I payed cash for for 19000 dollars. Now I am looking for a nice ranch house for no more then 90000 dollars. there are lots of these out there and I have the cash for it.
How did I do it? Brown bagging it to work and play, eating in, walking where I could to get what I needed, working with my public library for all my reading, video, and music needs. I trained myself to stay away from all places that take money unless it was a grocery store or hardware store.
People it is called dicipline and knowing what you really need out of life.
I don’t need millions of dollars just enough to make my life enjoyable.
Good luck to all
There is only one way Americans can regain control of America.
WE must refuse to vote for any Democrat or Republican no matter who he or she is. They are all put up for us to vote for by a machine. We need a grass roots movement across the nation to write in names of ANYBODY BUT A DEMOCRAT OR A REPUBLICAN. Once we get representatives in we must pass a constitutional admendment destroying the electorical college. Then we must take over the Federal reserve system. Renounce the federal debt. Make lobbying a capital offence. Among Reduce coporate taxes, Set limits for doctor and hospital charges. Put illegals in a chain gang and make them work for free for 5 years. Go to pebble bed necular power plants. Import the 60 mile per gallon diesel versions of the Toyotas, Hondas, Suzukies, Mitsubishies, etc that the rest of the world is driving. Bob for President.
We are no longer a Democracy. We are a loboracy. They proved with the medical plan that they do not care and are not afraid if the public is against a program. They do not have to be because they are elected by lobby money.
It’s as though our leadership is devoid of sound judgement or are fools.
Please read my December 7, 2009 article in The New American titled, “The 60th Anniversary of Orwell’s 1984.”
It provides the solution to what ails America and how to vote out of office the scoundrels who charge $250,000 a year or more to fail again and again as experts.
Should my article not prove to be by far the best you have ever read on Orwell’s 1984, please enroll in Political and Literary Criticism 101.
Cheers,
David
MARTIN…. I’d like to know 3 things about the future of the USA
1.wILL we call each other COMRADE or will we use our real names?
2.will we all wear the same cotton outfits and caps…if so I would like
cotton material in a light color with half-sleeves…to reduce
heat…midwest summers can be hot!!!
3.How many families will the army or the police m ove in to my
4 bedroom home with me and my wife?
If those elected in the upcoming November elections do not dramatically and immediately change the direction of our country. We will have reached the tipping point and life in America will never be the same. The only growth we will see going forward will be government and taxes as the government takes more and more control of our lives. They will gradually beat a majority into submission, and those people and businesses with the financial ability will leave the country in seaech another land of opportunity.
I believe after the government tax “We The People” to death and create such a third World economy here in America, that it will ultimately be up to “We The People” to stop the monster we have allowed to get larger off our labor (earnings). I smell REVOLUTION in the making. The signs of Socialism is already among us looking for Capitalist to devour.
What this country needs is a renewal of Faith, Hope, and Charity. We need to get back to our roots and what our founders said and believed. We’ve forgotten our history. Martin, thanks for using history as a guide in investing. You got more knowledge than twenty of the people running Washington. Peace to your group of advisors. Robert H. Vaughn
Baruch Hashem,
I am an Austrian School Economist so as one of the three pillars has lost its mooring , the consequences will be interesting.
My wife and I are in the process of leaving the Land of the Dead Leaf and heading for an island in the Med to ride out the storm . Remember, the west has experienced a total breakdown of a common religousity, and as a result, our leaders represent what poor values we hold as a society today.
Our so-called leaders of industry, have failed the general society, but is the average citizen who has allowed the preversions to become acceptable behaviour(bribery ,coersion ,theft , lying , etc.).
Please, remember the first responsibility, the primary reason for the existance of a government, is the protection of its citizens, so they may go on and enjoy the fruits of their labour.How can the USA be invaded , therefore, with at least 11 million illegal immigrants and no one is fired or falls on their sword.
How can one be hired as the head of the Ways and Means, break the law and not go to jail, and being so ashamed by the conduct does not first resign?How can the President nominate and then receive support in Congress to head up the Treasury after that individual fails to do his personal taxes correctly?
How can entitlement programmes continue to exists that are not funded?
In Western society all government employees are responsible to the voter.It is OUR money they are spending. It is OUR future , and OUR descendants they are threatening.
WAKE UP and get involved in the name of G-d.
This admin. is on a path of self directed economic destruction which will result in a total government takeover. The players are all in place as “advisors” and “czars”.
I suppose it’s obvious, without wasting too much ink, that we are on an unsustainable path…. Is there enough currency on earth to pay off the hundreds of trillions of dollars that all of the Western governments have promised their citizens? I am not just asking regarding the promises of the United States government…….I am asking regarding ALL of them, because the United States is not the only country on this earth that is dealing with this economic crisis! Of course there is not…. So, what happens when these governments hit the inevitable wall? The same thing that has happened many times throughout history…..It isn’t pretty………
You cannot spend what you don’t have. The collection of losers in this administration dwarf those idiots in the past.
Not one of them, has any type of resume demonstrating the ability to create anything of benefit. Their one common trait is the ability to take from others without adding giving in return. Go through their records. Amazingly shallow and self orientated.There are no Shulz or Weinberger. Obama is no GHB or RR but he does compare to that corporate welfare recipient Carter(check out his resume ;he wasn’t sucessful in any arena when in control.) who was held to such a degree of contempt by the Persians , they waited till the moment he left to release the captives.Since I have two children leaving in the Gulf I will tell you that Obama is considered a clown, weak, etc by both Arab and Persian.
He will be this generations George, Chamberlain,Halifax all combined, with the added bonus that he has insulted all of America’s true allies and friends.
Watch and try to see what Chicago politics brings this nation.After all , as a city it is broke and as a state, well what can one say.
I’m not nearly as educated as most of you in the world of economics, finance and so on. What I do know is that I walked thru Saks Fifth Avenue here in Las Vegas on my way to the Apple Store last night and I counted a grand total of 3 customers and the time of day was about 6:30pm! There were far more employees, perhaps as many as 20. This to me is a microcosm of how the Democrats would have things. Aside from that comment, if other retailers are being hit the way Saks was then it’s going to get very crazy. By the way, as usual, it was wall to wall people in the Apple store, had to basically take a number and get in line before a sales rep could help you! I have yet to walk into any Apple store over the two years when it wasn’t flooded with customers. Obama is an imposter and way in over his head. God help us all and I mean that very seriously.
Sorros put Obama in the Presidency with one, and only one idea, to ruin our economy. Both of them are communists, and I know this all sound extreme, but the truth is that coming from a communist country myself, and seeing all that he is doing brings me memories of why I am living in the US and not in Cuba. The question is, where can I run away to now?
I am sorry for sounding extreme, but I am really worrying about this country and its people now. Mostly our kids. So help us God.
Zady
Alleged free trade has started the decline in the average persons standard of living
which shall continue for generations to come. To compensate for this sellout of Americans by their own government, the government has continued to borrow money to bring prosperity. It’ll never happen. Our children and grandchildren will
not enjoy the fruits of our country as has been the case with mine and previous
generations. We can’t export all our manufacturing overseas, allow free illegal imigration and expect to stimulate our way out of it. This ain’t rocket science.
When more than 50% of our population is not paying any taxes or on government welfare we are done as a nation. I am glad that I am as old as I am, I have seen our nations best years. Our grand children we never know the freedoms that we experienced.
The economy is showing signs of improvement because of the Obama administrations current economic actions. This mess was inherited by the Bush administrations reckless economic policies. Bush et al inherited a balanced budget and ran it to the ground with trumped up military action NO BID CONTRACTS which amounted to a corporate give away for bloated pararasites such as Dick Cheney.STOP TRYING TO INSTILL PANIC AND CAUSE THE CURRENT ADMINISTRATION TO FAIL. THINGS WILL BE JUST FINE.
Even if the worst possible happens in Our nation’s financial situation, I think it is still possible to recover. What is necessary for this to happen is the survival of our constitutional values as our primary form of government and an unknown amount of time. I’m thinking that whatever happens here on the current financial front is likely play out worldwide. I find it comforting to think that I live in a country where respect for the individual is still practiced by many and is a part of our founding documents upon which our laws are supposedly and/or hopefully based. This could be our salvation if it survives.
After all, it is the great ideas of a tiny portion of any population when enbraced by the many that make the difference. Didn’t we as a free people manage to turn a large portion of North America from a wilderness into a garden spot, the envy of the world. Or didn’t we win World War II in about 5 yrs, no small undertaking.
I’m of the opinion that something great like those two examples could likely happen again; provided we don’t lose sight of what we as a people are supposed to be about.
I wish I knew more about the history of the aftermath of hyperinflation. How did the Wiemar Republic, for example, get back to a stable currency? Or the countries in South America that had very high inflation? Did the government devalue the currency to the point where the money base was brought into balance with the goods and services available? I suspect that anything of real value continued to be valuable; just at some very different price level. Potatoes and rice and wool blankets and toilet paper would always have value, but gold takes up a lot less space than 1000 dollars worth of toilet paper! And it’s a lot more liquid and more portable than most things.
Washington is broken. So are most state governments. Government is out of control, schools are out of control, health-care costs are out of control, lawsuits are out of control–because law has supplanted the responsibility of people needed to keep them in control.
Obama and his crew will spend and spend until the United States is Bankrupt.
I still say we (USA) still need a whole new Senate and House. This next
election should be a huge turnover. This is the only way to get their attention.
I agree with much of what is already on the blog, but first we must get their
undying attention. We the voters still have some authority. May God Bless
Us Everyone!!!
A reduction of government spending at this time would be mistake. Unemployment would rise further and tax revenue would fall.
First we should bring all of our manufacturing jobs back from Communist China. Next we should downsize our federal government and their spending as our manufacturing base expands.
I am glad that my father whom was paratrooper with the 82nd airborne in WWII,
is no longer here to endure these times and to see downfall of what his generation
gave their lives for.
Declining morals and greed have placed our nation in this predicament.
The agenda is real and I for one am looking to become a refugee in another country.
Remember germany the same is happening here now.If you can’t see it know you will soon.
The Republicrats with much help from Wall Street have put the USA in a gigantic quagmire. Wall Street invented the “derivative” that brought the banks to the brink of collapse; the rescue costs shifted to “the taxpayers”. Reagan, Bush & Bush accounted for over 70% of the national debt prior to the Great Recession. One cannot cut taxes and borrow to run a government. Bush the Lessor led us into a needless war and another Trillion lost. Obama is fighting a war which cannot be won. We have over 700 military bases overseas and out spend our nearest rival (China) 8 to 1. Our health care is the costliest in the world and far from the best. China owns its People’s Bank of China and it is now the Largest creditor nation in the world. The USA is now the largest debtor nation in the world. Insurance companies and lawyers have driven health care costs to unsustainable levels. The Republicrats have jointly created a permanent Welfare class that grows faster than the US taxpayer class. The Republicrats have turned their backs on illegal immigration for years. The Republicrats have sold their souls for lobbyist dollars and have made short sighted decisions. The FED has failed to follow sound money policy for years. So we reach a “tipping point” -the climax. Given we are the biggest military might in the history of the world, I believe we will ultimately declare bankruptcy and not pay our foreign debts which may perhaps lead to WWIII and the armageddon so wished for by our religious right. May God save us from religion.
Having injured my back in 1994,and having nothing that i could do i was forced to watch the morning news..On one particular morning a stock analyst was being interviewed. He said at this time [1994] it is not if but when it falls apart there would be 3-6 months of chaos nad then it would right itself…He also said that the longer this goes on the worse it will be!16 years have passed we’ve had repubican and democratic pres.This is not about politics.It’s about greed .Some of the problems that we face now werent caused by either party,but by the greed of Wall Street.Compounding the problem is a house,Senate and presidents[plural] who will not take a chance on their next election to make some very hard choices.Hurricane Katrina has shown that People when in dire straits may not act with their own best intrest in mind… So My house hold is doing all that we can.Not being blessed with money .We opted for a different tact.We now have milk goats.chickens 80 acres of land in the Daniel Boone Nat. Forest in Eastern KY.We’re remote enough to be relativley safe[for a while],and can watch from a distance the chaos of the surrounding cities.We are stocking up on sugar salt beans rice and are expanding our garden..poor folks cant always buy our way out of a tight situation… but we wont starve either
I would not just blame the Democrats. I have been a Republican since college, that was around 1971. My politics run more toward Independent now. We obviously can’t pay for a trillion dollar healthcare package with no additional tax revenue. But, according a one think tank 2.4 Million U.S. jobs were sent to China between 2001 and 2007. I wonder how many jobs were lost between the early 1980’s and now. It is estimated that 20% of our national wealth since formation of the country was lost in the last 18 months of the Bush administration. The Republicans let big banks and big Wall Street Investment Banks do whatever they wanted to do during the Bush administration. Also, they let business outsource our jobs overseas. It does not seem to matter until it affects one personally. We need to bring business and jobs back to America so our tax base is restored and we have tax revenue from U.S. businesses and employees, then we can afford health insurance and our states, cities and federal coffers will benefit. But, try to get your Republican senators and representatives to bring those jobs back. They have done and will do anything business wants. Banks have more lobbyists in Washington now than we have congressmen. Unless you write your congressman (woman), Banks will be back to business as usual and we will go through this again.
I used to think this country would last to 2030. Now I doubt it will last until 2020.
I would not just blame the Democrats. I have been a Republican since college, that was around 1971. My politics run more toward Independent now. We obviously can’t pay for a trillion dollar healthcare package with no additional tax revenue. But, according to one think tank 2.4 Million U.S. jobs were sent to China between 2001 and 2007. I wonder how many jobs were lost between the early 1980’s and now. It is estimated that 20% of our national wealth since formation of the country was lost in the last 18 months of the Bush administration. The Republicans let big banks and big Wall Street Investment Banks do whatever they wanted to do during the Bush administration. Also, they let business outsource our jobs overseas. It does not seem to matter until it affects one personally. We need to bring business and jobs back to America so our tax base is restored and we have tax revenue from U.S. businesses and employees, then we can afford health insurance and our states, cities and federal coffers will benefit. But, try to get your Republican senators and representatives to bring those jobs back. They have done and will do anything business wants. Banks have more lobbyists in Washington now than we have congressmen. Unless you write your congressman (woman), Banks will be back to business as usual and we will go through this again.
If the US Treasury Bond market collapses, how will this affect bonds issued by municipalities, school districts, colleges/universities, Federal Home Loan Corp., GNMA, ports, and mutual funds holding all or most in bonds? Will defaults be possible, probable or inevitable?
The Keynesian heresy continues until all else is destroyed. The architects of monetarism perceive the beginning of the END of quantitative abstraction of VALUE. The current reign of fiat currency shall meet the same demise as all prior fiat experiments- Unequivocal intrinsically worthless paper. While the mob squabbles about the daily fluctuations of the FOREX, the DOW etc., the ‘Wizard behind the curtain’ stealthily acquires real ‘money’….. PHYSICAL GOLD/SILVER BULLION. That’s the real story of the ‘Wizard of OZ’- What did you think that ‘OZ’ represents?? Follow the yellow (gold) brick road to the emerald (green paper ‘money’) city………..
Wake up America! It’s time to take our country back from the career politicians in Washington this November! Get informed and then get involved.
I use to think this was a great Country with Good thinking God fearing people. Now I think our fore fathers would roll in their graves if they knew what was going on. I fear we are going to be a divided third world country.
Also…. in the original novel, Dorothy’s slippers were SILVER!!
Stop Washington Before we are crushed and devoured by them.
WILLIAM IS EITHER DREAMING OR IS A LEFT WHINGER ON THE GOVT DOLE EITHER AS AN EMPLOYEE OR A RECIPIENT OF DOLE FUNDS.
HE WILL LEARN THE HARD WAY.
THIS GOVT IS NOT GOING TO SUCCEED IN ITS ECONOMIC ENDEAVORS
Bill has said what needs to be said but unfortunately, the Republicrats will not change their course as long as we keep voting for them.
We will just sit and watch the whole thing implode and then later we will hear the politicians say, “if we knew this was going to happen we would have done…..”
When I left university after studying economics I opined that, ‘Keynesian economic theory was an excuse for the economists to get out of the ivory towers of the universities and into fat governments jobs showing politicians how to fiddle.”
Today the fiddle plays as the economy burns.
This country will survive but in a different form. We will convert to a semi social like state with a very large portion of GDP being used to service debt by some form of taxes including value added taxes. However, health care, education, social welfare , retirement, etc. will be provided for almost all at government expense but at a reduced standard. The vast majority will be stuck in a semi lower middle class state with a few wealthy and few poor. Hopefully, we can be a politically stable county under these conditions and still provide enough incentive for continual entrepreneural spirit to lead to creation of new growth industries which have our country still a major economic player for at least the next couple of hundred years.
I know the Government is greedy, corporations and wall street are greedy, and the country is going to collapse. More business’s leave America every day. I definetly think we need to replace the entire congress. But I also strongly feel our leader is not American and has motives that are questionable. But I am puzzled over why he wants this to happen? If America goes bankrupt, then there is no money to be gained, no taxes to be collected, and no businesses left to control. So what is the motive for wanting all this to happen?
Sir:
If you go back just a bit, note that Mr. Carter started this idea that everyone should be a home owner. Then, on Mr. Clinton’s watch, more pressure was placed to bring this Utopian idea to fruition with Fanny Mae, Freddy Mac, and Acorn. The banks were pressured into writing mortgages to those who really didn’t qualify! Please stop bashing Bush! I know that he did do some hefty spending on his watch, but remember, he had liberals in control of Congress to deal with. Bash the liberal Congress for a change. No pun intended!
First of all you all sound like a bunch of Republicans. If that is so, why didn’t you scream until you were heard when this castrophy was in the making under the Bush Administration? Why all of a sudden President Obama has to be the bad guy? When Bush kept us in two wars that should not have taken place in the first place and spending, spending, and spending more money has got us to the point we are now. Although the present Administration is trying to spend their way out of this mess, they are adding on to the debt this is true. But it is Obama’s problem and he needs to be voted out says all the Republicans. Actually it’s all of our problem and we all need to help find a solution. Until I see you get in an uproar about bringing Ex-President Bush up on charges for making this trillion debt in the first place that we are facing, spare me the BS about what President Obama is doing. At least he is doing something. You may not like the fact that the Democrats are in charge! If you don’t like it then bombard Washington with solutions not just more fingerpointing and harassment. That’s not going to solve anything. Give President Obama a break and become apart of the solution. Just as Ex-President Bush didn’t get it all right, President Obama is human and has surrounded himself with as many professionals as he could find to help him address this problem. He will not be voted out of office so get with the program and find some solutions that really work and stop complaining. President Obama needs all the help he can get. He didn’t create this mess, he walk into this mess. Become a part of the solution and not the problem!!!!
William,
If there was a budget surplus when Bush took over it was because of the Tech bubble. That was not real prosperity. It collapsed under its own weight. I don’t like the war, but there is not will in congress to make the hard decisions that will fix the economy. We have borrowed our way into poverty.
I am very disillusioned with congress. Seldom do they consider the long term interests of our country. Their self serving interests are top priority notwithstanding the destructivenss of their actions. They, congressmen, own Washington and pretend to be interested in the electorate at election time. The remaider of the time they ignore U.S. citizens. There are exceptions, but their number is small.
I read all the comments. It is scary and confusimg. Should
the US fail on it’s bonds it could be the end of capitalism, but what next?I have seen the money lose it’s value from 100 to 1 in Europe and South America, Is gold the answer?
How much gold can you carry- perhaps walking, and if you try, will you get to your destination alive and with it.I have seen the results of that too.What will happen,and when it
does and it will, is going to be catastrophic. I am aproaching
the 90s and might not have time to see the recovery, because it will take so long. How can we have left the things to come to that point ?
I think Randall O says it all! No party is blameless, they all see their own agenda and don’t really listen to voters without big bucks. The Dems. are at least trying to improve something!
I do wish that Washington could be stopped.
Every day there are big changes being made that
are not of benefit to the people and it is rather frightening
not knowing what is coming next.
God Bless America!!
At last someone with sense. The more you talk a thing up, the more likely it is to happen! We will scare ourselves into problems that don’t need to be problems.
A breaking point is slowly coming.
Let’s make 2010 the turnaround year by voting these bums (ie traitors) out of office!!!
Martin,
The administration and the members of Congree and Senate have shown their
true colors. By passing the health care bill the way they did they as much as
said like the French Queen before them ” let them eat cake”. They could care less
what the voters want or actually making things better for the country as a whole.
There is only one thing left for the voters to do, kick them all the hell out of office.
As a matter of fact, I would like a grass roots effert to start where petitions are
passed all around the nation to all voters agreeing to vote their representatives
out wheather they had accompished what they said they were going to do in office
or not after two terms. This would be in essense an unofficial term limit. That would
be better that trying to convince the politicians to vote such a bill in themselves.
Pete
I am sure that this is a common thought – that the inevitable consequence of government printing will be overwhelming inflation.
The economic problems started way before Nixon, Carter, Reagen, Clinton, Bush or Obama and none of them helped it either.
It is good to be positive to hope things will be fine, but if one does not deal with WHAT IS (ALL of the factual details of the matter) to then address all the factual details without bias, as painful as they might be, one will never be able to resolve the problem.
To be simple and short, when USA decided to have a global economy; then USA ignored what the founding fathers of the country said not to do, and destroyed the average citizens ability to make a living with no assistance per BEING PLACE AT SAME WAGE AS CHEAPEST LABOR IN THE WORLD TO COMPETE WITH.
While the world has advanced in technology in the last 100 years, the basics of doing business properly AND THE ECONOMY have not changed for centuries and never will. True capitalism in its intended form has not existed in USA for at least a 100 years, and as a result the USA economy and world too is broken big time. These events occured before, but younger generations have not experienced them; so the younger generation ignor the wisdom of their fathers and USA founding fathers to said do not go global. Importing that which is not available and or could not be done in USA is to be noted as the acceptable exceptions.
im surprised there has been any assasination attemps.
Why would our government stop their agenda. When the next major crisis occurs they can unite with the Canadians and Mexico to form the future North American Alliance. I never hear you mention their goal for a one world government. What will stop them if we don’t vote these new agers out.
There was an old philosphy during the Viet Nam war that sometimes you have to destroy it in order to save it. The 800 lbs gorilla here is the baby boomer gneration. It owns most everything and the assets are the basis for the assurances to that generation ie Social Security, Medicare and such. When the assets of this group are impounded, seized or changed in whatever way to meet the assurances the economy will either be runaway inflation or implode. Tax revenues will decline sharply as retired citizens pay less than those working. I see a world wide depression or severe recession that lasts 15 to 20 years until this generation passes and then is back to about 0 (welcome 1789 when things were not worth a “Continental”. No very positive but then is reality. Peronally, I think we shall work this out when government (not by choice) faces reality and new people are installed who will tell it like it is and slash all manner of spending by perhaps 60% or more. We shall see entire agencies done away with and the focus will be totally on getting private enterprise working to serve the new “consumers” in Asia. Thats the future.
With all the corruption in our gov’t, there are no innocents! To start, we need to vote out all of these people. We need to demand obama’s birth certificate(the real one), rid the country of his czars & nullify all these insane Laws etc. Start adhering to our Constitution. Pare this gov’t down to size,get it out of our business’ & stop making Criminals out of honest men! Go to a gold/silver monetary sys. Let our Free market get us out of this fix. Bring our troops home, get out of other countries affairs, and stop hemmorhaging money in the form of foreign aid, give our citizens the “Aide”! We have the intellience, stamina, & perception to get this done!
I think all politicians should be investigated for receiving money from lobbyists. Every person that enters an office comes out a millionaire. There is something wrong with that. Also, when they leave that office they should not receive all the benefits. They should get paid while they are in office and also pay for their healthcare. One of Obama’s campaign promises were that he would get rid of all the lobbyists in the government. He didn’t do that! I also think that all the people in charge of the stock market should also be investigated because I feel that they are the ones controlling the price of gas along with the oil refiners. I think we are in for some real tough times ahead if they don’t get manufacturing in this country going. I love this country and would do anything to defend it but we must get rid of our corrupt government.
What would happen if every American wrote the following letter to the White House…Dear President Obama, It is a mystery to me why we didn’t take half of the 800 billion TARP money ($400 billion) and give it directly to every legal American citizen in the form of health insurance vouchers, mortgage payment vouchers and some cash (to put in our savings). Had you and Congress done this, THERE WOULD BE NO HEALTH CARE CRISIS, NO MORTGAGE DEFAULT CRISIS, AND LOT’S OF ECONOMIC STABILITY. THE ‘TOO BIG TO FAIL’ WOULD HAVE FAILED WITHOUT DRAGGING ALL OF US WITH THEM, AND THE ELITE FEW, NAMELY THE BANKERS, WALL STREET AND THE “BOUGHT AND SOLD” MEMBERS OF CONGRESS WOULD NOT HAVE BEEN ABLE TO LINE THEIR POCKETS WITH OUR MONEY. Furthermore, the remaining $400 billion could have been used to shore up Social Security.
I, for one, demand this action. If the Federal Reserve can print money for the corrupt, they can print money for the hard-working American people.
You know all this has been prophesised a long time ago.
And it will come to pass.
There is nothing to be done but embrace the change that is coming.
16000 IRS agents will not give you one doctor, only alot of aggrevation. We need lower taxes to help, not stimulus, it does not work.
There is so much angst in our real world for the gov’t. They are out of control, they don’t operate in the real world and I’m afraid that we are headed towards the destruction of the country we were all raised in.
I’m sure Obama, Pelosi and Reed all think they are doing good works……….but they don’t understand simple economics; because they have fostered a career making decisions with public money….they all need to go. Let’s get back to reality
I am retired and trying to survive. So far I’m about even. What is ahead for all of us is anybody’s guess. It’s obvious are government can’t go on spending money we do not have. So, I am investing in commodities and gold. I’m doing this through ETFs with stops in place. Plus, I have a few inverse ETF for insurance. I moniter my investment almost daily because Wall Street is full of crooks and so is our government. They both have managed to steel trillions of dollars from tax payers like you and I and they will continue to do so until the country collapes. Then and only then will sanity come back to our financial markets and our country. Until then, God bless us all.
I can’t see how anyone can blame one party over the other Clintons troop with there don’t ask don’t tell policies in lending ( Mortgage ) ( Barney Frank ) as well as Armed services & there North American Treaty as well as there Euro Dollar implamentation certainly had a strong outcome with whats happened – but what the hell lets blame Bush – must be nice to be stupid and living in the closet
History always repeats itself! Every great nation collapsed from within. Greed and self interest is the god of this era too. When I went to school we prayed for our president, teachers and parents, saluted the flag and the 10 commandments were on the wall of every classroom.
Obama flies around the world apologizing for America and then goes into Afganistan. War is big business, that is why they are waged! Politicians should pay into social security like the rest of us instead of reaping millions from their private retirement benefits. Wake up America before you find yourself carrying a wheel barrel full of worthless paper to buy food.
We have lost our way as Americans, we’re just too far removed from the struggle of the past that created this great nation. My father served in the Air-force in WWII, he did not fight for us to become a hand out nation. He fought so that we could if we worked hard have an opportunity for a better life, it is not our right to be given anything but an opportunity. We will survive because we,re going to throw the bums out and we will replace them with honest, hard working people, it will take time. We as a people not a political party must make term limits a reality by simpley voting out incumbents after 2 terms or less, their are plenty of real Americans that can “serve” the country and not themselves lets give them a chance, it does not cost a dime.
Democracys always fail. They turn into facist states run by tyrants.(sound familiar ?) The current administration will fail constitutionally all on it’s own. As for instilling panic, they have become very adapt at that also ! Just fine? Go throw your vote away on another worthless socialist candidate. It makes no difference which one, they all feed at the same trough.
I’m a WWII Veteran and I’m disgusted with what our politicians have done to this country since the end of WWII.
Many veterans still bear battle scares, seen and unseen, from that War. Over three hundred thousand young men gave their lives for the best flag and the finest government ever given man.
American citizens go to war to serve their country; politicitians go to Washinton D.C. to serve themselves.
I am ashamed of our politicians for what they have done to our country in the past 65 years..
They are steering this nation on a slippery, slimy road to disaster.
Let’s do something to take our country out of the hands of these political clowns in Washington D.C. before they drag us into the sewer with them.
U.S. will not survive. When you have government labor unions making contracts with government officials (most of who need their vote to stay in power) without any input or even notification to the taxpayer; you will have a continued rise in the cost of government at the expense of the taxpayer. They are paying for the huge increases in government with huge amounts of fiat money. All over the world they are doing this. More fiat money is hitting the world economy than money hit Europe during the gold (Aztec, etc) of the new world. And the point there is now it is fiat!
Cut to the chase. America is being dismantled to become just another mute country in the so called “WORLD ORDER”.
The economy is not showing signs of improvement. If you believe the numbers (GIGO) and arbitrary measurements and “Ministry of Truth” spin, then you might think the economy is getting better. Unemployment is horrible and especially underemployment. If you like working at a call center (sweat shop of the 21st Century) with a master’s degree, then you might think the economy is getting better. Just because I say the economy is not getting better doesn’t mean I think DC should spend recklessly. We need to let the markets work themselves out, and that includes no bailouts to the disgustingly greedy big banks. Otherwise, any improvements in the economy (Dow 11,000, what a joke. It will crash again and soon.) will never be sustainable. Haven’t we learned anything? I guess not. Also, it is not a matter of what party (Repub or Dem) created the problem. I blame the whole system, the system of plain greed on the part of Corporate America and Congress (lobbyists). Plenty of blame to go around in all parties. Wall Street is completely out of control in what it expects from a company’s numbers which leads to corruption and subsquent bubbles (i.e. Dow 11,000 now) and busts. The companies, in turn, have unrealistic expectations from their employees (beyond what is humanly possible), to the point of absurdity. Yes, you can make money in the stupid stock market, but you had better know when to get out. My crystal ball is not that good. I don’t care if CD’s are at .5%. I’m not risking my money. I refuse to be manipulated by Corp. Am or the Government.
For the first time in my life, I have never been so disappointed in my government. There are many challenges in one’s life and now all levels of our government, which I believe have the soul purpose of making our lives better, have added additional burdens to deal with. I pray our country can be put back on the right course.
As long as the BASIS of our system is DEBT and not real wealth gold, silver, factories etc..collapse is inevitale as long as people can BUY THEIR WAY into office through legalized bribery(campaign contributions) and there are no term limits for Congress this nonsense will go on and on until the perceived value of the money is no more and we are little more than a has been empire
I agree, the only way to change things in Washington is to vote out all incumbents .
THE SPINN MEISTERS SHOULD GET A TERMINAL CASE OF VERTIGO,AND GIVE NANCY PELOISI A BUS INSTEAD OF A PL.ANE, MAKE EARMARKS ONLY POSSIBLE WHEN SUBMITTED WITH THE MAKERS EAR AND FUNDING CHECK ATTACHED. IN THE MEANTIME I AM TRYING TO STRENTHEN MY LEGS TO STAND IN LINE AT THE SOUP KITCHEN
From WSJ on Friday, April 9, “Big Banks Move to Mask Their Risk Levels” (with creative accounting). Yesterday, April 13, “Is the Fed Helping the Banks to Cook the Books?” Then today, April 14, “JP Morgan Chase Profit Jumps.” Need I say more. This is beyond disgusting. Nothing but common street thugs.
Our Government is broken and totally ineffective. We need to replace all incumbents before it is too late. Our Politicians are hypocrites and whores that fill their pockets with lobbyist money. Democrats who cater to the 47% that do not pay taxes do so only for the votes, while they live a high on the hog. The Chief hypocrite and Speaker of the House is so worried about the poor that she flies in her private jet back and forth from the left coast. Proverbs teaches us about false prophets. The Democrats economic policies are a complete and utter failure. Those that have the slightest clue refer to Keynes theories on demand side but don’t understand that the stimulus from the Government can’t come from new debt and not surplus. Everyone knows that a flat tax would be best for the Country but our Government does not have the courage to execute. What is unfair about everyone paying their fair share? Why would we trust our Government to run anything given their track record? We have plenty of examples. Cap and trade tax to the tune of 6800.00 per household? This would be the final nail in the coffin. Vote them all out of office.
At the rate we are going, it is only a mater of time before the dollar becomes practically worthless. I think that will happen when we loose our reserve currency status. Too bad to loose the great country we had. But what can you expect when you take God out of our country.
Don B
The Obama administration and Congress are taking us back to the Plantation era where the owners provided food and shelter etc to their workers and slaves. Now, the Federal government is becoming the owner and the people of this country are being taken care of by all the entitlement programs. It is very alarming when a culture of dependency has been created by a nearly bankrupt government. A new emancipation proclamation is needed.
There are many problems. First is that Corporate America owns the Government. We have stood idly by and allowed them to have legal standing in courts and they have now expanded that so they can contribute as much as they want to make sure their candidates win the elections. Second, Republican leaders have convinced the average citizen that they are for family values, low spending, and religion to such people in. Now the truth is that they are for the RICH. They don’t give a rip about the average citizen and if you allowed them to they would take away Social Security, Medicare, and Health Care because they don’t want the average person to have these things. And the rich don’t need these things. Get rid of both parties and start voting for people that will vote with a conscience and will vote for the things that the people who elected them want. Take away legal standing for corporations and take away their ability to contribute ridiculous sums of money to campaigns. Get rid of lobbyists. Time to start over again with a clean slate. Its time to retake our Government away from the Rich and the fools that are currently in office.
One last thing: TERM LIMITS. One six year term for every elected official. No chance for re-election which will prevent them gaming the system for their own benefit.
i expect that the UK will adopt the same position.
In that our current deficit for the year stands at £178,000,000,000 = 1.78 billion
First shoe has dropped: Teaparties conveyed our dissatisfactions to the movers and shakers in WashDC, but we see no response. We now await the midterm election in November 2010, but I really think we shall be under martial law. After an assault of some sort is made by terrorists, Constitutional guarantees will be suspended, and elections will be nullified, or so corrupted as to rubber stamp
their expenditures for printing presse, etc. Second shoe..will it drop…too late?
john crudele in the 4 13 10 ny post credits a reader for pointing out “the large number of ‘homeowners’ who have stopped paying their mortgages and the enormous time lag between this event and foreclosure (eventually they will be paying rent) or adjustment has put alot of free money in people’s pockets.”isnt this money in the hands of people who are likely to spend the very definition of high powered money? and very inflationary (at least until it is bottled back up in some form of housing?) i implore you to get mike larson to estimate how much cash is sloshing around because of this and how it could be impacting everything…
Do not get paper that can be destroyed: Buy precious metals.
Lets move to create a third party with a middle class agenda and totally disrupt the current status quo. Lets vote politicians our very term when their time is up unless they truly show by their actions that they are worthy of staying in office. Lets eliminate pork politics and find patriots and people of honor not from crony communes. Lets find a way to force different thinking and voting people into FOMAC.
To all the people who rail against the present administration,,,,,,,,,,,,,,,where is your plan to right the American economic ship,,,,,,bring back the 5.7 million jobs that the adulterous, child molesting ,gay republicans have sent to their masters in China, talk about seditious treason ??? Why don’t you; and when will you, apply for a Chinese Visa so u can apply for Citizenship in China and get your place in line with the nearly 3 billion Chinese coolies in the rice paddies; Oh yes wasn’t it the past administration who sent the jobs, then gave China Most Favored Nation Trade Status and destroyed the 2nd largest source of tax revenue we run this country with tied to imports from China
Until we dissolve the Federal Reserve Board and return to Constitutional Government, our future as a nation is bleak at best.
only it will stiop if we stop paying the WASHINGTON elite there paychecks
I have read many of these comments by your readers. Many of them make sense, however, I always like to get ROOT causes of major events especially economic and financial. THE ROOT CAUSE of our US and by extension world wide “great” recession is the GREED,POWER,EGO of our WORLDWIDE GLOBAL BUSINESS ELITES AND WORLDWIDE GLOBAL GOVERNMENT ELITES. These are problems not created by the poor people, not created by the upper,middle and lower middle classes. History shows time and time and time again going back to the various empires and kingdoms that these problems are caused or allowed through deceipt,deception,ignorance or stupidity by our major world leaders, government and business alike, democrat and republican alike and worldwide in scope hence the term GLOBAL ELITE! Absolutely everyones analysis will eventually lead back to this very key point! I believe things will get better, but it may take many years and a cleansing out of the current Global Elite leaders (already in progress) with more capital and power flowing back to the private sector middle class.
There is a law in physics that states an object in motion will stay in motion unless acted upon by an equal or opposite force. When it comes to the world economy and the U.S. in particular, what force would be necessary to alter this criminal economic behavior? The answer is : we don’t have an opposite force to our avail.
If this were personal finance, we would as the commercials tell us , bankrupt our debts.
Unfortunately, the world would go to war if a major economic player defaulted on it’s outstanding debt. I have yet to hear how we and the world can dig out of this hole.
I am not a pessimist, although I am sure I probably sound like one. I am a realist and I don’t see how stimuli plans and Obamacare ( both require more borrowing and spending) can act like an opposite force. Quite the contrary in the long run.
It looks like the religious prophets got it right. Probably toward the end of 2012 when a lot of the unemployment payments stop. You will see a lot of good people hurting which will lead into every problem imaginable.
If you believe in aliens, they are about the only power to level the playing field. Of course God could also intervene as well. It certainly won’t be a human diplomat pulling it off. No human has that kind of skill or charisma. Not to mention no human has the technolgic power to resolve this crisis. Mankind is like a bunch of kids in a sandbox. At first they try to play well with each other. But then 2 things always happen: Greed ; and failure to love each other. Ultimately it leads to one messed up sandbox with the parents always having to intervene to bring order.
So who will play that force in our sandbox?
I think we need control the enocomic spending and slow down some realize what messy situation we are face with.I don,t think we want survive these time because we haveto come together and work thing out. we will be ok if we take care our business and work hard to overcome thes day and time
Stocks, bonds, and mutual funds are terrible to invest into. Becareful of who you get financial advise from.
92.3% of all respondents say that Washington will NOT stop its spending/borrowing/printing spree until it’s too late to avert disaster because more people are waking up to the fact that our two headed one party system is a puppet of the global elite. Stop the denial. They need us to be a third world backwater country in order to bring in a new world order, and they are not about to stop. As has been the case for thousands of years, its is likely they will take us to war, to divert attention away from themselves.
Martin i really enjoy your information and the service your bringing to the American public that care about their country.
No they will not stop spending we have to vote them all out that’s the only way to stop the Obama, Pelosi, Reid machine that is steamrolling these bills. Ed Hebert San Francisco
The major changes needed to set America’s Gov’t. and her people FREE again, is the repudiation of debt owed to the International Bankers ( FED). This should’ve been done during the Clinton Admin. if not sooner. America’s whole economic structure & system is owned & operated by ‘ other’ men, by the manipulation of the money supply, interest rates, thus cycling our country, at any given time, through recessions, inflation, deflation and Depression, at will. This is not by accidents of the day but, by learned design and practices, that have been used in ALL countries, that have a CENTRAL BANK, at its core
manipulating their economies.
Once the FED is eliminated, the TRUE Treasury of the united States, can resume its Constitutional responsibilities, and set America back on it’s original course..
NOTHING WILL CHANGE for the better, until these parriahs on our society are removed [.]
From that point, the elimination of the current UN, and it policies of subtrafuge against America and the Constitution, must be a priority. ALL Treaties, Washington DC has engaged in, that undermine and usurp the Constitution and our Bill of Rights, shall be VOID.
Americans better wake up and smell the coffee now, or they’ll lose the Representative Republic, for which, we are supposed to be but, are NOT, at this point, in our history.
We are well on our way to becoming a Socialist Oligarchy or a reasonable facsimile thereto.
Semper Paratus !!
I have been active for 50 years (not including service time) trying to prevent what is happening in this country, from happening. For the first time in my life I feel that as a nation we are finished. Make
no mistake about it this is a communist takeover. When the Bolshe-
viks took over Russia in 1917, they did it by force of arms. Now, we have a pure communist in the White House, in the form of an
interloper, who has surrounded himself with the sons and daught-
ers of the same Bolsheviks that took Russia. America, will not be taken by force-of-arms as Russia was because there too many guns
in this country. So, it is being done economically. The unconstitut-
ionally instituted, privately owned Federal Reserve banking system
is being used along with the Treasury Dept. to bankrupt this coun-
try. If President Franklin Roosevelt, made one truthful statement in
his life, it was “nothing that happens in politics is by accident, it is
by design.” Prepare yourselves any way that you can. Thank you.
Sorry, I hit the wrong key for the above comment.
We should get rid of ALL of our govt. representatives and set term limits
immediately. I know that we’d lose some good, common sense people
in Wash DC, but if we clear house this election, we can re-elect the good ones
back in the next election. But term limits are necessary to start to reject
the old politicians who’ve never held a responsible business-oriented position
in their adult life. They don’t know the meaning of organization, progress,
getting their money’s worth for production, etc. — everything it takes to
spend money wisely and get a profit for your efforts.
Otherwise nothing much will change with the same old political bed-partners,
taking care of themselves first, over the Amerrican citizens. There’s not that
much time left to do the right thing.
Hello, I have been unable to figure out why the markets have been climbing in spite of the negative housing, unemployment, debt, bankruptcy, and long term inflation realities we have now. Then I read an article about how 70% of the daily trading volume is done by high frequency trading software platforms and not real investors. Today the markets finally dropped due to the lawsuit filed against Goldman and it dawned on me that if there are relatively very few sellers (or all buyers) in a market then the buyers are always in control. If they dont buy then the market is flat but they can always prop up the market whenever they see the need to, 50 pts here 50 pts there, especially if they can get their hands on some free bailout money to buy their equities with, unless it is their share price that is under attack, then they sell. Finally it all makes sense.
The coming crash in the bond market will destroy the United States that I love.
Our grandchildren will be asking, why didn’t the people respond to stop this madness?
The only chance we have is to remove all every one of the, Republican, Democrat & Independent. November can’t get here soon enough.
“REMOVE ALL OF THEM.”
Stay in that country /Small deficit
John
Whats the view on Ireland> would you invest there?
John
Have many of you heard about the proposed 28th amendment that’s circulating in emails? This is one of the best ideas I’ve heard of. If Congress can’t have all the perks they’ve voted themselves, most of them won’t want to stay in office!!! Yea!
Proposed 28th Amendment to the United States Constitution
“Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States.”
The residential real estate market is in the toilet.
The commercial real estate market is in the toilet.
Employment is in the toilet.
War with Iran and/or North Korea is on the table.
You will see a great inflation when these issues are addressed.
You will know our inflation worries have come to pass when banks start giving out free toasters when you open up your next CD!
If a financial counsellor could see that somebody had a big debt problem the last thing that he/she would recommend would be to borrow more.
What this country needs to avoid a bond crisis is a strong third political party that will take the hard road and cut the size of government and reduce what is deemed to be untouchable – spending on entitlements and defense. Will this happen? I doubt it, as we don’t have the will to it. Like a growing number of people I feel neither existing political party really represents the majority of the people in this country.
Right on Mr. Young, How long will it take for us to wake up? We may have been wallowing in our comfort zones a bit too long. Like it or not, this country and all the good it stands for is toast if something doesn’t happen very soon.
This is not by accident as you say, it is a conspiracy conceived before WWII. Like termites, they have slowly but surely undermined this country by their brainwashing propaganda and reprogramming the young from the 60s into an underground army of communist thinkers bent on turning the country into slaves of the UN. It should have been obvious to all Americans when we witnessed Obama being elected. He’s an expert con-artist, who is in position now to control the destiny of the country by puppet strings from the elite. Only fools believe his agenda is to better the country. The problem is the only thing that will stop him and our stupid Congress now is anarchy amoung the people, but believe me, he is waiting, and prepared to deal with it by martial law. Can you imagine our fellow comrads in the Armed Forces being used against the American people? It can happen. Hopefully the high commanders would refuse, which would be our only chance, and would be a second Civil War.
Some above seem to advise to throw them all out of office. November is a long way off and 2012 even further. Just how much damage can be done in disabling the American people and our Constitution until then? My opinion is the only thing that can be done is march on Washington by the millions and demand the resignation and/or impeachment of every Congressman and the Administration, but how many will give up their golf and ballgames?
This mounting national debt is appalling as Obama has our country on a collision course toward disaster. I cannot understand the economic tyranny of the current political administration/regime that is intent on dismantling our constitution, and sovereignty. The destruction of the wealth and financial resources of the middle class is being sacrificed on the altar of the power elite. As an individual, it is difficult to figure out what to do or how to preserve one’s financial investments. Buying gold is probably a good idea if one can afford the over spot price or commission. The GLD and Van Eck Global that I chose may be good for me, but I feel like I’m wandering in the dark as my financial advisor thinks I’m foolish on holding gold and hard assets.
if everyone agrees rates will go up and bonds crash how can this actually happen everyone is usually wrong
Martin,
Bravo on calling on Fitch, S & P, and Moody’s to rate bonds fairly. If they do not act on your call, then they should be exposed for the fraud they continue to perpetuate.
Bravo , again , for calling the rating agencies to step up and be truthful; i wish i thought it would do anything but fall on deaf ears……..one can hope.
One question keeps coming back to me over and again and that is ( why Bryan Rich ) is on your team when he seems to be so diametrically in opposition to the rest of you guys? Can anyone of your team answer this ? Thank you for all you do for so many without asking much in return.
I believe that is a loaded question, and that you are 90% out given the situation this country is in. Alice