Financial Armageddon?  Nothing To See Here, Move Along…

Financial Armageddon? Nothing To See Here, Move Along…

Numerous readers have sent the following story to me today, and probably because we are all so desensitized to the impending financial armageddon (remember when I was telling readers to buy silver at $7 and now it’s close to $50), and because I am more concerned about what is happening with the Fukashima reactors melting down and their accompanying 660,000 spent fuel rods, I did not get around to posting it until now. Yes kids, we are officially fooked financially unless we get some true leadership in the White House and clear out the remaining criminals in the district.  Desperate times call for drastic measures. If you would like to get a peek at what is coming in the urban centers of this country, go here; these guys ain’t lying.  On the bright side, Ron Paul is on his way to his third presidential race. Yes, one can dream that sanity could possibly reside in the White House.

From MarketWatch:

IMF bombshell: Age of America nears end
Commentary: China’s economy will surpass the U.S. in 2016

BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
IMF sees China topping U.S. in 2016

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now. Brett Arends looks at the implications for the U.S. dollar and the Treasury market.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

According to the IMF forecast, which was quietly posted on the Fund’s website just two weeks ago, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

Read the rest at the link above.

Bankrupting Us is The Goal!! – Alex Jones Tv 1/3

Bankrupting Us is The Goal!! – Alex Jones Tv 2/3

Bankrupting Us is The Goal!! – Alex Jones Tv 3/3

Onto Fukashima.  The RedLemur has noticed that Discovery’s ‘Science Channel’ is covering the Japan earthquake and the Fukashima reactors this week.  It will be interesting to see what the MSM has to say about those reactors as scientists and physicians are talking about the fallout and the current meltdown crisis while the media has had nothing but crickets for us for weeks.  If it is as bad as Leuren Moret and Dr. Helen Caldicott state, we can all stop worrying about the IMF, China, the dollar, and quitting smoking.

Megaquake: Hour that Shook Japan

Experience Japan’s earthquake and tsunami through new footage and first person accounts. Understand the mega-physics inside this latest Ring of Fire cataclysm that rocked the Earth on its axis. Scientists explore whether the Pacific NW U.S. could be next.

Nuclear Nightmare: Japan in Crisis

A comprehensive timeline of the unthinkable natural disaster that triggered a nuclear crisis at Fukushima Daiichi. Paula Zahn takes us inside the dramatic story in Japan, and explores out what it will mean for nuclear power in the United States.

 

Gerald Celente, 4.21.2011: The Current Depression

Gerald Celente, 4.21.2011: The Current Depression

Here is the latest from Gerald Celente on 4.21.2011 about the dumbing down of America, the electronic trillions being dumped into the economy, the price of gold, the economic fascism  that has occurred, the dollar devaluation, our current economic depression and how to prepare and survive the globalists’ destruction of our way of life.

Gerald Celente: Prepare, Survive and Prevail – Alex Jones Tv 1/2

Gerald Celente: Prepare, Survive and Prevail – Alex Jones Tv 2/2

Biggest Debt Bubble In History

If you add up all forms of debt (government debt, business debt, individual debt), it comes to approximately 360 percent of GDP.  It is the biggest debt bubble in the history of the world. – Economic Collapse

For those that might actually be swallowing the lie that the economy is recovering, the Economic Collapse once again nails the unmitigated and devastating math right to the wall. Pay attention to items #13 and #14 and the commentary that follows.  How’s your food storage coming along?

14 Eye Opening Statistics Which Reveal Just How Dramatically The U.S. Economy Has Collapsed Since 2007

Most Americans have become so accustomed to the “new normal” of continual economic decline that they don’t even remember how good things were just a few short years ago.  Back in 2007, unemployment was very low, good jobs were much easier to get, far fewer Americans were living in poverty or enrolled in welfare programs and government finances were in much better shape.  Of course most of this prosperity was fueled by massive amounts of debt, but at least times were better.  Unfortunately, things have really deteriorated over the last several years.  Since 2007, unemployment has skyrocketed, foreclosures have set new all-time records, personal bankruptcies have soared and U.S. government debt has gotten completely and totally out of control.  Poll after poll has shown that Americans are now far less optimistic about the future than they were in 2007.  It is almost as if the past few years have literally sucked the hope out of millions upon millions of Americans.

Sadly, our economic situation is continually getting worse.  Every month the United States loses more factories.  Every month the United States loses more jobs.  Every month the collective wealth of U.S. citizens continues to decline.  Every month the federal government goes into even more debt.  Every month state and local governments go into even more debt.

Unfortunately, things are going to get even worse in the years ahead.  Right now we look back on 2005, 2006 and 2007 as “good times”, but in a few years we will look back on 2010 and 2011 as “good times”.

We are in the midst of a long-term economic decline, and the very bad economic choices that we have been making as a nation for decades are now starting to really catch up with us.

So as horrible as you may think that things are now, just keep in mind that things are going to continue to deteriorate in the years ahead.

But for the moment, let us remember how far we have fallen over the past few years.  The following are 14 eye opening statistics which reveal just how dramatically the U.S. economy has collapsed since 2007….

#1 In November 2007, the official U.S. unemployment rate was just 4.7 percent.  Today, the official U.S. unemployment rate is 9.4 percent.

#2 In November 2007, 18.8% of unemployed Americans had been out of work for 27 weeks or longer.  Today that percentage is up to 41.9%.

#3 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer.  Today, there are over 6 million Americans that have been unemployed for half a year or longer.

#4 Nearly 10 million Americans now receive unemployment insurance, which is almost four times as many as were receiving it back in 2007.

#5 More than half of the U.S. labor force (55 percent) has “suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers” since the “recession” began in December 2007.

#6 According to one analysis, the United States has lost a total of approximately 10.5 million jobs since 2007.

#7 As 2007 began, only 26 million Americans were on food stamps.  Today, an all-time record of 43.2 million Americans are enrolled in the food stamp program.

#8 In 2007, the U.S. government held a total of $725 billion in mortgage debt.  As of the middle of 2010, the U.S. government held a total of $5.148 trillion in mortgage debt.

#9 In the year prior to the “official” beginning of the most recent recession in 2007, the IRS filed just 684,000 tax liens against U.S. taxpayers.  During 2010, the IRS filed over a million tax liens against U.S. taxpayers.

#10 From the year 2000 through the year 2007, there were 27 bank failures in the United States.  From 2008 through 2010, there were 314 bank failures in the United States.

#11 According to the U.S. Department of Housing and Urban Development, the number of U.S. families with children living in homeless shelters increased from 131,000 to 170,000 between 2007 and 2009.

#12 In 2007, one poll found that 43 percent of Americans were living “paycheck to paycheck”.  Sadly, according to a survey released very close to the end of 2010, approximately 55 percent of all Americans are now living paycheck to paycheck.

#13 In 2007, the “official” federal budget deficit was just 161 billion dollars.  In 2010, the “official” federal budget deficit was approximately 1.3 trillion dollars.

#14 As 2007 began, the U.S. national debt was just under 8.7 trillion dollars.  Today, the U.S. national debt has just surpassed 14 trillion dollars and it continues to soar into the stratosphere.

So is there any hope that we can turn all of this around?

Unfortunately, the massive amount of debt that we have piled up as a society over the last several decades has made that impossible.

If you add up all forms of debt (government debt, business debt, individual debt), it comes to approximately 360 percent of GDP.  It is the biggest debt bubble in the history of the world.

If the federal government and our state governments stop borrowing and spending so much money, our economy would collapse.  But if they keep borrowing and spending so much money they will continually make the eventual economic collapse even worse.

We are in the terminal stages of the most horrific debt spiral the world has ever seen, and when the debt spiral gets stopped the house of cards is going to finally come down for good.

So enjoy these times while you still have them.  Yes, today is not nearly as prosperous as 2007 was, but today is most definitely a whole lot better than 2015 or 2020 is going to be.

Sadly, we could have avoided this financial disaster completely if only we had listened more carefully to those that founded this nation.  Once upon a time, Thomas Jefferson said the following….

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Bad Behavior has blocked 1509 access attempts in the last 7 days.

%d bloggers like this: