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50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe

Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don't make dramatic changes immediately.  If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them.  Just "tweaking" things here and there is not going to fix this economy.  We truly do need a fundamental change in direction.  America is consuming far more wealth than it is producing and our debt is absolutely exploding.  If we stay on this current path, an economic collapse is inevitable.  Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up.

At this time of the year, a lot of families get together, and in most homes the conversation usually gets around to politics at some point.  Hopefully many of you will use the list below as a tool to help you share the reality of the U.S. economic crisis with your family and friends.  If we all work together, hopefully we can get millions of people to wake up and realize that "business as usual" will result in a national economic apocalypse.

The following are 50 economic numbers from 2011 that are almost too crazy to believe....

#1 A staggering 48 percent of all Americans are either considered to be "low income" or are living in poverty.

#2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be "low income" or impoverished.

#3 If the number of Americans that "wanted jobs" was the same today as it was back in 2007, the "official" unemployment rate put out by the U.S. government would be up to 11 percent.

#4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

#5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.

#6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

#7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006.  Today, that number has shrunk to 14.5 million.

#9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

#10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

#11 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job.  In July, only 81.2 percent of men in that age group had a job.

#13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

#14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.

#15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.

#16 As the economy has slowed down, so has the number of marriages.  According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married.  Back in 1960, 72 percent of all U.S. adults were married.

#17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.

#18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.

#19 Nevada has had the highest foreclosure rate in the nation for 59 months in a row.

#20 If you can believe it, the median price of a home in Detroit is now just $6000.

#21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant.  That figure is 63 percent larger than it was just ten years ago.

#22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.

#23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.

#24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980.  Today they account for approximately 16.3%.

#26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

#27 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

#29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

#30 The retirement crisis in the United States just continues to get worse.  According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

#31 Today, one out of every six elderly Americans lives below the federal poverty line.

#32 According to a study that was just released, CEO pay at America's biggest companies rose by 36.5% in just one recent 12 month period.

#33 Today, the "too big to fail" banks are larger than ever.  The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

#34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

#35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

#36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

#37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

#38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.

#39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

#40 Sadly, child poverty is absolutely exploding all over America.  According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

#41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

#42 In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for more than 18 percent of all income.

#43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#44 Right now, spending by the federal government accounts for about 24 percent of GDP.  Back in 2001, it accounted for just 18 percent.

#45 For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars.  That was the third year in a row that our budget deficit has topped one trillion dollars.

#46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

#47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars.  When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

#49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

#50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

Of course the heart of our economic problems is the Federal Reserve.  The Federal Reserve is a perpetual debt machine, it has almost completely destroyed the value of the U.S. dollar and it has an absolutely nightmarish track record of incompetence.  If the Federal Reserve system had never been created, the U.S. economy would be in far better shape.  The federal government needs to shut down the Federal Reserve and start issuing currency that is not debt-based.  That would be a very significant step toward restoring prosperity to America.

During 2011 we made a lot of progress in educating the American people about our economic problems, but we still have a long way to go.

Hopefully next year more Americans than ever will wake up, because 2012 is going to represent a huge turning point for this country.

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  • bobbobbobbob

    sure 2012 will be a turning point —- mitt wants to cancel the va system and institute vouchers and newt wants to attack iran. uuu rrr a failed state.uuu === kaka uu offer the world kaka. JUNK FOOD; JUNK JOBS; JUNK POLITICAL SYSTEM
    mitt will bring on a takeover by the military—
    newt will bring on revolution!!!!! its over for uuu idiots

    • bobbobbobbob

      i went to bobs furnituree made inusa = 00
      i wentto raymorre and flannegann furniture made in usa = 00. uuuurrrr amerikaka. but wait the professional terminators are coming home = danger. most will starve to death but some will not take prisoners!!!!!!

    • LL

      Hate to say it, bob, but I’m beginning to agree with ya.

    • D

      Lol Bob is, by far, my favorite character on the economic collapse blog.

    • moderateguy

      This year DEFINES partisanship. When Bush failed, the Pubs joined Dems and Independents and rejected his policies. When the Dems made it worse, Democrats still support a failed presidency.

      Partisanship at it’s worst.

  • William

    The current disaster is a product of BAD fiscal, immigration, tax and foreign policies for the past 30 years. The projected cost of the Iraq war, long term, is about $4 TRILLION. Be sure to reelect the IDIOTS in the US Congress who created this nightmare. The Smirking Chimp and war criminal Bush does not look so good now, does he?? Iraq had NO WMD, and was not part of 911. Americans deserve the government they elect.

    • Tom

      Who looks more like a chimp, President Bush or the present occupant of the white house. Take a peek at the childrens book Curious George and tell me that isn’t the spitting image of obama

      • http://n/a jgouig

        The smirking part is crucial here, Tom. Obama does not smirk. Bush did, constantly.

        I see you’re into some pretty advanced literature yourself!

        • DownWithLibs

          Do America-haters smirk? That would be the question for you, jgouig!

      • bobbobbobbob

        uuu will bee in med school some day (as a cadaver)

      • LL

        You know, that *could* be considered racist.

        I am not impressed.

      • Ameritards

        All you guys are about as sharp as a bowling ball.

    • knightowl77

      Just make up numbers like $4Trillion as to the war cost. The cost of Iraq is just under $1Trillion after 9 years, and our troops are almost out…Keep calling Bush names as if that fixes anything. Meanwhile you give a pass to Barry Hussein who is now killing people with hellfire missiles in at least 6 countries even though we are still not technically at war with any of them….Club GitMo is still open and the US is still using rendition to torture people in foreign lands and Obama gets a Peace Prize…

      Seriously, more Americans have died in Afghanistan under Obama in 3 years than under Bush in 7 years and where oh where are the Anti-War protestors??? Where are the Code Pink protestors who were outside the WH and Crawford TX when Bush was in office??? Obama can kill people in Libya, Somalia, Yemen, Iraq, Pakistan and Afghanistan (and probably more)and the Left is silent…Why????

      When you and the left hold your idiot in the WH to the same standards then maybe I will listen, otherwise you are just another loud mouth….

      • liberranter

        This isn’t about left or right, liberal or conservative, Republican or Democrat, all of which are meaningless labels invented by the Establishment to distract the sheeple from the real issues. Nor is it about the Bushtard or the Obamunist, both of whom are/were nothing but figurehead sock puppets for the REAL powers behind the scenes. No, it’s about the State, which itself is nothing but a facade for the banksterocracy that has, over the last 150-plus years, incrementally bled us to death financially and destroyed us socially, slowly stripping us of our fundamental liberties. Until people get over the red herring labels and trite, discredited political concepts that have represented the status quo for so long, nothing will ever change.

        As far as the war statistics you cite, again, it doesn’t matter what a particular figurehead sock puppet did or did not do what or said or did not say concerning whatever part of the world the Amerikan Imperium is occupying or in which it is waging war. The point is that Amerika is STILL waging these illegal, immoral, and unconstitutional wars and that the Establishment, despite whatever artificial and meaningless partisan labels it appends to itself during a four-year period in order to gull the Amoricon sheeple , CONTINUES TO WAGE THEM, NO MATTER WHAT FIGUREHEAD IS “IN POWER.”

        Bottom line: as long as the majority like yourself continue to imbue the current criminal Establishment with legitimacy, NOTHING WILL EVER CHANGE.

        • knightowl77

          I am not defending Bush, I am simply demanding that they be consistent. If you think Bush is a war criminal for starting wars, but Obammy gets the peace prize for continuing the wars and killing people in 4 other countries as well, then you are not consistent and therefore dishonest.

          You are right that we are not going to get anywhere assigning blame to either side and that was NOT what I did…..I simply want the left to explain why they protested everything Bush did, cuz they thought it wrong, yet Hussein can continue the same Bush policies and everything is hunkey dorey with them????????

        • Alan

          You are one of the only people on here to make any sense! What you said is EXACTLY what I try to tell this people. Speak the truth and god bless ya :)

      • sharonsj

        I checked a bunch of newspaper articles and the cost of the Iraq war varies from $1 to $4 trillion. That doesn’t count the cost of the war in Afghanistan, and those numbers are an additional $1 to $2.5 trillion. Then there’s the $4 billion a year we give Pakistan.

        Both wars were started by Bush and are the main reason our debt is so high. We borrowed the money because Bush insisted on massive tax cuts at the same time. I do blame Obama for the surge in Afghanistan. We don’t belong in other country and we need that money for our own people.

        • Plato’s pug

          Rarely, does the press reveal that the trillon$$ spent for these insane wars in AAAFPak and Iraq were borrowed from the Chinese.
          Ther’s no way the US will be willing or able to pay back China. In fact, I would bet that the US may provoke China into a war (through a proxy with Iran or Pakistan) just to avoid paying back the debt with interest.

    • Anthony

      +William, In our defense, we did not actually elect George W. Bush. And, BTW, +Tom, I think President Bush looks exactly like the “Smirking Chimp and war criminal” that he is.

      • William

        Anthony, I never debate FACTS with supporters of Bush. Simply being a GW Bush supporter in 2011 marks the mind of a fool.

    • Mal R.

      So Bill Clinton and all of the democrats in the Congress are liars and war criminals too right? And the leaders of all the other countries that went in with us? The UN? I mean, if you’re consistent…

    • Mal R.

      Dont forget Obama and the 100% democrat controlled congress that took office and left the funding in place while screaming liar out of the other side of their faces while Bush was in office right? Liars and war criminals right?

      Or just liars and subversive communists?

      • T

        Wow buddy you had to leave two comments to show everybody here how much of a dunce Mal R. is. Is there anything anyone can say to you that would get through to you or are you as hopeless as you appear? Go buy glenn becks latest book. Maybe you can take a friend with you and tell them how you have the answers to all the worlds problems. That ******* doesn’t fly with critical thinkers.

        • Darnell D

          My dear T, “critical thinking” is clearly not one of your fortes, and boasting about being capable of it only casts a rather unflattering pall over yourself. Perhaps you should invest in some intra-cranial fog lamps to assist in cutting through that rather opaque haze you wander and flail so helplessly about in. But since such a device is neither available nor real, a frontal lobotomy might be a viable alternative to ease that pain and anguish.

        • Mal R.

          I was gonna point out how limp your response was T but Darnell dun did a great job for me.

          Thx Darnell

    • McKinley Morganfield

      Sorry to burst your ideological bubble, but even the democrat controlled GAO assesses the cost of the Iraq fiasco at around $800,000,000,000 or basically the cost of TARP. What you should be concerned with is the $16,000,000,000,000 digital dollars Uncle Ben has thrown down the abyss of too big to fail.

  • r.bitting

    Just finished watching A Charlie Brown Christmas with the family. Linus stands up on stage and gives the true meaning of Christmas, a meaning so many in this land have all but forgotten. This country would do better to listen to Linus, than to listen to these politicians. Linus has it right folks… Better seek the truth before it becomes unlawful to seek it.

    • Anonymous

      Brother,

      X-Mas has nothing to do with the incarnation of the Second Person of the blessed Trinity. I deliberately use the term X-Mas, instead of the word used for that “holiday” that falls on December 25th, because the name of Jesus Christ connected with the Catholic Mass is an abomination. The Catholic Mass claims to be a perpetual sacrifice. Whereas God’s Word, the Bible, states that there was ONE sacrifice for sins forever.

      “So Christ was once offered to bear the sins of many; and unto them that look for him shall he appear the second time without sin unto salvation. (Hebrews 9:28)

      “But this man [Jesus Christ], after he had offered one sacrifice for sins for ever, sat down on the right hand of God; (Hebrews 10:12)

      Furthermore, the incarnation did not occur on December 25th. It took place during the Jewish Feast of Tabernacles, which occurs in September/October on the Gregorian calendar (or the month of Tishri on the Jewish calendar).

      Finally, Christians are not instructed to remember the Lord’s birth. We’re told to remember his death, which we do when we take the Lord’s supper (one of two ordinances in the church, the other being believer’s baptism). Nowhere in the New Testament of the Bible do you find the apostles or the early church commemorating the Lord’s birth.

      Humbly,

      A servant of Jesus Christ

      • r.bitting

        Anonymous.. The point of the post is’nt to draw attention to Dec. 25th or to remember the Lords birth vs. remembering his death, or to establish Christmas as the day of Christ’s birth. You have totally missed the point of my post, that being, The nation has forgotten it’s roots, which are in Christianity. The people are trusting in political systems ( corrupt men ) to deliver them, instead of trusting the only one who can save them, that being Christ. I’m well aware that Christ was not born on Dec. 25th, and the meaning of the word ” Christmas “. But go back and read the post again and extract it’s true intent.

        • YoungG

          The reason why Christmas is celebrated on Dec. 25 is because it was aligned with the pagan celebration of the Winter Solstice. Many ancient civilizations before Christ also had their own tales of the birth of a ‘king’ that parallel the New Testament: virgin birth, celestial event, etc.

      • Reality

        ….do this in memory of me…

      • Ken

        Pope Anonymous, X is the Greek letter Chi, which is an abbreviation for Christ.

      • http://lastdayrapture.blogspot.com/ TK

        So True, If Christians claim the Bible as their final authority, then they can not claim that X-mas is Biblical.

        As a side thought, there are so many pagans celebrating X-mas that it is not even remotely Christian now a days.

        Seek the truth from the Bible, not from catholic traditions.

      • nowwthen

        The Catholic Church recognizes Easter as the greatest of all holy days as it celebrates Christ’s resurrection. What is the problem with celebrating Christmas as well? To imply that it is heresy to celebrate the birth of our Savior (even on a day which we all recognize is probably not His actual birthday) serves no other purpose than to further fractionalize and fragment Christianity. We have enough fractionalization in society brought to us by all the self-serving legislators of morality. The modern thinkers who have made it their mission to brand evil as good should be the real targets of our Christian objections. A little more ecumenical tolerance between differing Christian sects will go a long way toward combatting the real enemies of our faith.

      • Anthony

        There was no cosmic time out between Jesus starting the only Church he started and however many centuries later your branch decided not to obey and therefor protested (protestant),ie. became anti-Christ. Btw the sacrificial mass hasn’t been perpetuated since Vatican II and “Novus Ordo” mass. “Catholicism” is probably more protestant than you now. Also btw the Catholic faith doesn’t believe Jesus was born on Dec. 25 either. His birth was/is celebrated on that day since we were the ones who brought Christianity to the pagans. It is hard to get someone to give up their holidayss even when they are pagan religious in nature. So we celebrated it over the middle of the solstice, Juno, etc. to keep pagans from falling back into paganism. Likewise with “Easter” which is the highest mass celebrating His resurection.

        • http://smokebreak.blogshevik.com Joan of Snark

          And how, pray tell, was the early Catholic Church – with its ursupation of the pagan festivals in order to coerce compliance and its Inquisition that rampagingly murdered those it deemed to be infidels in order to force compliance – all that different than one of the Church’s early enemies with whom the world still battles today, namely Islam?

  • kwark

    The real problem is that our “leaders” are bought and paid for by the same institutions that profit from the current mess. Obama is the current “suit” in the White house but his pathetic “leadership” is built on the foundations laid by his even more pathetic predecessor. Who you choose to blame is immaterial though because BOTH parties got us into this mess and WE are the fools that allow them to continue to play us as they do. Yes, Americans are angry but we are so ignorant, bigoted, and racist that we are easy prey to the liars, cheats, zealots, and puppets we see in both the Republican infomercial-debates and among the Democratic “leadership”. Sites like this one are preaching to the choir so I have very little hope that “average” Americans will even know what to “wake-up” to in 2012. Probably incoherent rage subtly directed by “leaders” towards our neighbors who believe in the wrong religion, wear the wrong colored skin, speak the wrong language and so on. Good luck, because it appears that luck is all we can hope for to meet the future.

    • http://n/a jgouig

      You are a straight shooter, Kwark. I’d vote for you!

    • Twinklez

      Most intelligent viewpoint I’ve seen here yet. It’s so hard to tell the good guys from the bad guys that a lot of people are completely confused about who to vote for in 2012. The media adds to this spinning and skewing the truth. The question is, “Is that one straight shooter that’s out there going to be able to open the eyes of enough people to make a difference?” The thing is.. He can’t do it alone. He needs the people that believe in him and his ideas and integrity to get behind him and encourage people to get out and vote next year. So…rather than talking about the possibilities of doom; start encouraging people to take a step in the right direction. Please.

    • Darnell D

      Ah, someone who “gets” it.
      How refreshing.

      /hat tip

  • http://Franklinspark@gmail.com Bruce Jonathan Fick

    Former A.G. of New York said the Fed’s a Ponzi Scheme. If H.R.Rep Kucinick’s proposed N.E.E.D.
    Act were passed, we could right the American
    economy smartly.

  • http://Theeconomiccollapse Gregge Johnson

    If you keep on
    Bad mouthing The Federal Reserve Board. The IMF or The World Bank will assassinate somebody .They are monitoring you guys very
    Close.

    • McKinley Morganfield

      Annually I update the FBI in writing, complete with a hand drawn map, on my exact location and the best vectors to set up a sniper to kill me. I’ve been doing this since 1976. Let them monitor all they want. I’m up front on where I stand. BTW I’m getting older (soon to be 64) and I don’t back down.

  • igotadose

    Can’t feed ‘em – don’t breed em.

    China has the right idea.

    • Jeff

      I agree completely. China is smart enough to know that their growth cannot continue with an exploding population of babies that are born into poverty, and die in poverty.

      It’s too bad that the USA is not smart enough to figure this one out.

      • LL

        Are you kidding??? China THRIVES on poor people. They warehouse poor people in sweatshop factories where they work them 24 hours a day. The people were sleeping at their desks and living in tiny little cubbyholes like a college dorm room, three to a room. They buy everything they need from the “company store” because they don’t earn enough to go out and buy anything on the street. Big Industry Loves Poor Workers!

    • Alice M

      Your thinking is a little off! What about those children that were born when parents had jobs, but don’t now? (Because those jobs were sent overseas).
      And…Planned Parenthood has had it’s funding slashed…and they are the one’s that provided free (or discounted) birth control to poor women and MEN? (Not to mention PP provides more breast cancer and uterine cancer screenings than they do abortions?)

      • DownWithLibs

        Since you love Planned Parenthood that much, why don’t you just bring back the Gestapo and get it over with?

        • Matthew24

          “…many false prophets will rise and mislead a great many.
          And because of the growth of iniquity, the love of many will grow cold.

          …But woe to those who are with child and to those who give suck in those days”
          —Matthew 24:11-12/19

  • Klean

    it’s very easy for the media and news to mix numbers and portray false images of our times and economy, they are the ones who have the bull****** jobs and a voice. do the poor and impoverished have an image or a voice? no! it’s just *********** neglect and “their fault” as some politicians would mind you.

    these numbers are ************* staggering. and people wonder why there is so much outrage and violence bubbling up everywhere. it takes millions upon millions on the ground to hoist up all the kings and banks and gods. well what happens when these impoverished numbers grow? i’m absolutely terrified.

  • Highspeed

    Michael,
    I need to tell you, this site has been a Godsend to me in more ways than you can know. I first heard of your site on Glen Becks program 6-8 months ago. I knew then that things were bad, but, boy have I got an education these last 8 months.

    My entire worldview has changed in these last few months, I am prepared now for war, collapse or whatever is to come. I have tried to become ready spiritually, mentally and physically. I have a great group of friends and family to depend upon and stand with.

    I also appreciate all of your bloggers who try and encourage one another. Many have great ideas and seem to be ready for the future. I do hope that as thing get worse we will be able to communicate, but fear that this site and others will soon disappear. So, once again, I wanted to say thanks for your faithfulness to your country.

    • Michael

      Highspeed:

      Thank you so much for those encouraging words. I always enjoy the comments that you leave. A lot of people may not realize this, but I read every single comment that gets left on this site. I don’t have time to respond to every single one, but I do read them all.

      And I think that you are taking a great approach – we all need to try to get prepared spiritually, mentally and physically for what is to come. Nobody knows for sure how the coming years are going to play out, but it does look like they are going to be very challenging.

      May you and your family be blessed Highspeed. I am thankful that this site has attracted so many wonderful readers such as yourself.

      Michael

    • Anthony

      Don’t worry about sites like this dissapearing. By next year (or this year) people like this and like you or I will start “dissapearing.”

    • LL

      You listen to Glenn Beck and you’re here?

      • BenjiK

        I too first learned of this site from Glenn Beck. Instead of blindly believing and following the main-stream-media or swallowing hook-line-&-sinker what the radical left has to say about Mr. Beck, do your own research. For a start, I would highly recommend reading his book “Broke”, it’s an excellent read, coincides with the content of this site and would give you a better understanding of his thought process.

        The far extremes of any political party, left OR right, would will do and say just about anything to detract from anyone who does not blindly march to the beat of their drum.

        Remember, do your own research and when it comes to extreme political propaganda, believe half of what you see and NONE of what you hear…..

  • http://www.planorperish.com Gutter Economist

    Hopefully next year more Americans than ever will wake up, because 2012 is going to represent a huge turning point for this country.

    If more Americans don’t wake up, they are going to repeat the most popular last words of airplane pilots:

    ********

    Oh S***

    Could Have

    Should Have

    Would Have

  • Gary2

    Mexico’s Jorge Castaneda says the U.S. risks destroying its middle class and becoming more like Latin America has been.

    SIX of the Walton heirs (Wal-Mart) have as much money as ALL of the lower 30% of U.S. Citizens!!

    TAX THE RICH HARD! DO IT NOW!

    The USA is one of the most unequal societies in the developed world. The GINI number is pathetic. The myth of Horatio Alger is just that a myth. The best predictor of success is choosing rich parents.

    The fact that we have one political parties the repubes wanting to cut taxes on the rich even more is almost beyond belief. At least everyone knows conservatives want to funnel all the wealth to the top in the mistaken hope that they will one day be rich and we can’t tax the rich.

    KEVIN THIS ONES FOR YOU:

    A lot of people are leaving the middle class because corporations have shipped once well paying jobs overseas and keeping the extra profits for executive salaries and big paydays for large stock holders, and the GOP fights tooth and nail to keep the stock break that companies get for doing it.

    Some of this was taken from comments from the onpoint radio show about America loosing the middle class.

    • McKinley Morganfield

      “SIX of the Walton heirs (Wal-Mart) have as much money as ALL of the lower 30% of U.S. Citizens!!”

      Wow, I’m hyperventilating over this ‘surprising news’! ;-)

      30% of Americans are deeply in debt and have ZERO assets. By your screwy cherry picking of statistics I have more money that ALL of the lower 30% of U.S. Citizens!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      GROW UP and stop believing in things you don’t %#@*ing understand.

    • Kevin2

      Gary2

      Regardless of the “stock break” the ultra cheap labor uncorrected with duty’s is the problem.

      Dem or Rep their both up to their eyeballs in it giving the public zero choice in the land of “Freedom”.

      As a co-worker once told me, “You have the right to shut up and do as your told”.

    • Anthony

      So your commie solution is to take $ from heirs of Walmart? Who spent all that $ at china-mart in the first place? Plus you don’t pay any taxes in the bottom 40 anyway so who are you to say tax anyone? Besides, the bottom 30 sacrifice the long term on the alter of the expedient. So now you want your money back? Destroying the rich will help for 2 seconds and then it will be worse than before. The bottom 30% destroy and consume wealth and only the top 10% create wealth. I had one heck of a hard time clawing my way out of the bottom 30 because the majority of the bottom feeders can’t stand to see someone rise up. Ive been screwed over and robbed many times just like the thievery your talking about now. Remember the fall of this society was precipitated by an increase in wickedness/the (voluntary) loss of your Christian Heritage. Btw the main reason I’ve tried so hard is to make things better for my heirs than it was for me, as in leave an inheritance to your children’s children (Biblical). Also Biblical: Thou shall not steal (and the penalty is death).

      • gary2

        Given thee intellectual vacuum of your comment you should just go back to fox news and remain ignorant.

        I pay a ton of taxes in the bottom 40%. If you simply re-read (if u can read) what you wrote you can see how absurd it is.

        I would say the top 10% have destroyed more wealth than any other group in history. You have heard of the 1929 depression? Our current depression? Unless you deny what is right before your eyes you are either a right wing shill or hopelessly uneducated.

    • Liam

      Then they wont have any businesses or money to hire us poor bastards…… Common sense. Commie sabotuer blood suckers just take money from the rich–who create jobs–and give it to the others who just blow it. Then everyone is broke.. Real smart.

  • Gary2

    Census shows 1 in 2 people are poor or low-income
    Nearly half of Americans are low-income as rising expenses, unemployment shrink middle class.

    Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.

    The latest census data depict a middle class that’s shrinking as unemployment stays high and the government’s safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.

    “Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too ‘rich’ to qualify,” said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.

    “The reality is that prospects for the poor and the near poor are dismal,

    TAX THE GD RICH AND SPREAD THE WEALTH!!!

    http://finance.yahoo.com/news/census-shows-1-2-people-103940568.html

  • luis

    hey everyone u no things are bad then lets all prepared with food supplys an make plan with your families cause things look very bad for the year 1212 have faith in god an in your self people

  • Gary2

    #9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

    #10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

    YOU GOT THAT RIGHT. WTF did I go to college for if all I can get is the shit low pay ****** job. Don’t even need a diploma.

    • nowwthen

      Gary,
      You ask, “WTF did I go to college. . .?” You went to college to be indoctrinated by liberal academics who’ve spent their entire lilly handed lives convincing saps like you that you deserve some of what I’ve earned. You are just now beginning to realize that they were wrong but made a fortune billing pawns like you tens of thousands for the indoctrination. You are too brainwashed to figure out that they sold you a lot of nonsnsese or that the real world does not revolve around the failed philosophies of Marx or Lenin. Wake up! You would do well to look into the multi-billion dollar endowments controlled by these institutions of so-called higher learning. Maybe you could look into tapping those billions for the free ride you want in life. Good luck with that pal. They are part of the TRUE establishment!

      • Darnell D

        If only he/they could see just how right you are.

        Please take note, Gary…

    • McKinley Morganfield

      “WTF did I go to college for if all I can get is the shit low pay ****** job.”

      Could it be you never finished college? Or perhaps you have a BA in French literature, political Science, feminist studies, or some other worthless academic field that employers in the REAL world have no use for the likes of you? Face it Gary2, you are a loser by choice.

      • gary2

        Graduated 3.8 honor roll with a BA in business management. Hey that’s better than rick perry. I guess its who you know and not what you know. And people deny that luck plays a MAJOR (50%+) roll in success.

        • Senator Ozmo

          Gary2,

          You are just figuring this out. I learned this lesson when I was a child. I’m glad you got educated to know it.

  • 007

    Obama, the finest food stamp President in history. He is pleased with the direction of the economy. However, he says he needs four more years to “finish the job”.

    • McKinley Morganfield

      “He is pleased with the direction of the economy.”

      Lost and lonely boy Barry is indeed pleased. The more people on the government (plantation) dole the better for Barry and the party of government enslavement.

    • mondobeyondo

      Yes! To paraphrase Scarlett O’Hara – “…we’ll never go hungry again!”

      Or, if you prefer, “We’ve Only Just Begun”, by the Carpenters. It could be Obama’s 2012 campaign song! (Poor Karen Carpenter would be rolling over in her grave if her song turns into a 2012 campaign theme!)

  • joe

    If I may echo Highspeed’s comments-this is the only place I have found that makes this type of information available, particularly in the concise version of the current blog. The “mainstream” media is essentially ignoring the data (except for an occasional mention on one or more of the business channels). Things are bad and are going to get worse, regardless of who is elected. A Republican President or Republican controlled Congress might slow things down, but I don’t see anything that can stop the collapse. We live in an area where everyone has weapons (and knows how to use them), stores food and is self reliant. We do our best to convince friends and family to get prepared but by and large they think we are just crazy. I would be very happy if they are correct, but I don’t think so. Keep the info coming. It is a bit scary that so many people are beginning to think as we do but it is also reassuring to know that there are those out there prepared and willing to take care of themselves and others.

    • Michael

      Thank you Joe – unlike others that write about economics, I try to write in a style that the average man on the street can understand. I don’t always succeed, but my hope is that the information I share will be useful to ordinary Americans that don’t understand that much about the world of economics.

      Michael

      • gary2

        I don’t always succeed–Michael-don’t sell yourself short. People like me that sometimes complain about your right political slant do not spend the many hours you do to write this blog. Even though I do not always agree I appreciate you.

        Gary2

        • Michael

          Gary:

          Thank you for the kind words, and it is certainly okay that you don’t always agree with me. I don’t think that there is anyone out there that would agree with me about everything. :)

          Michael

    • sharonsj

      I don’t see how Republicans can slow anything down. They will give tax breaks to the rich and squeeze the rest of us with their crazy tax ideas and austerity programs. If you think people are just hanging on now, wait until the Republicans get rid of unemployment insurance, medicare, medicaid, social security, heating assistance, food stamps….

      • knightowl77

        You’ve listened to Gary and the DNC too much…
        While, I don’t agree with the Repubs often, I agree with the Dims even less….We are borrowing almost 4 million dollars a day from China and elsewhere…The Repubs are not talking about eliminating ANY of the programs you mentioned. They are talking about reducing the rate of growth and changing some of the programs to ensure their survivability for future generations….but even these paltry reductions will not be enough to balance the budget and get serious about the debt…
        If you read this blog regularly then you know we SPEND too much money on EVERYTHING and this must be reduced to even get close to a balanced budget that neither side seems serious about. Gary and his ilk believe that you can tax the rich & spread the wealth….Seriously, the only way to grow the economy (which increases tax revenue in the long run) is not by taking more money out of it….
        BTW the GWB tax cuts that Dems say were tax breaks for the rich…were across the board cuts that benefited ALL who paid taxes and 70% of those cuts were to the middle class and poor.

        • gary2

          The Repubs are not talking about eliminating ANY of the programs you mentioned.

          I am guessing you did not read paul ryans plan to eliminate medicare? He may not use the words “eliminate Medicare”, however, the result will be ending this and other programs.

          You can call a dog a duck all day but that does not make the dog a duck.

          I actually give the repubes some respect in that at least they are no longer trying to hide their hurt the poor give to the rich agenda.

          I think that any thinking person can now see their real agenda and can vote accordingly.

          We collected so many recall walker signatures in a very right wing area it was almost unbelievable.

          the repubes are going down hard. WI led the nation ion job losses. The repubes=fail

        • gary2

          oh yeah the poor got all of a 10 tax cut while the rich got 99% of the tax cut benefit. You must be living in a cave. You are very disingenuous at best.

      • BenjiK

        “…wait until the Republicans get rid of unemployment insurance, medicare, medicaid, social security, heating assistance, food stamps…”

        And don’t forget, Republicans eat babies, too. Seriously, the biggest hurdle we have as a society is people’s inability or refusal to educate themselves on facts and truth, not their chosen political party’s re-election talking points. We can all benefit if we chose political leaders based on their ideals, convictions and ability to SERVE the people, not solely on the basis of an (R) or a (D) behind their title……….

        • Gary2

          And don’t forget, Republicans eat babies, too

          I suspected as much!

  • Mike

    You wrote “We truly do need a fundamental change in direction. America is consuming far more wealth than it is producing and our debt is absolutely exploding. If we stay on this current path, an economic collapse is inevitable.”

    I too think the collapse is guaranteed; there is no way around it. Too much debt and no way to repay it. Your many reasons certainly make the case. I just don’t see anyway around it.

  • Tom Damon

    I second what highspeed said. This site, altho only one voice in the wilderness of the alternative media, is a beacon of sanity in a sea of lies, theft and looting.

    Keep up the most excellent work Michael; if you even wake up a few from state propaganda-induced stupor, it will have been a worthwhile effort.

    • Michael

      Thank you for saying that Tom.

      Michael

    • John B.

      “Sea of lies” indeed. I watched ABC world news yesterday. According to them, everything is looking up! How’s that one!

      And now for some reality:

      http://detroit.cbslocal.com/2011/12/16/van-dyke-public-schools-closed-after-bus-batteries-stolen/

      • mondobeyondo

        Reminds me a lot of that scene in the movie “Airplane!”, where Ethel Merman (yes, that’s really her), is in a hospital bed and begins singing her signature song, “Everything’s Coming Up Roses”.

        At the end, she’s sedated by hospital staff as she croons out, “Everythiiing’s… cominngggg up.. roooossseeess…..”

        The mainstream media wants you to believe that the economy is recovering, shoppers are shopping again, etc. In other words, everything’s coming up roses.

        Not true. Not true by a long shot. The media has the vast majority of Americans sedated. They believe everything they hear and see on TV.

  • http://www.watchmanwhatofthenight.com Robert Seales ( an Englishman)

    16th December 2011
    Dear Michael,
    I am an aged Englishman having known Jesus Christ as my Lord and Savour for above 50 years. I have had the great honour and privilege of studying the prophetic scriptures for over 30 years.I therefore believe I have SOME knowledge of just what is taking place in our times
    I humbly ask – May I be permitted to write a little on the fulfilment of the biblical Prophetic truth that you so ably write about. I may have some “truth for our times” which will sincerely help readers to prepare for the crisis days ahead. With sincere Christian regards from Robert.

    • Michael

      Robert:

      It is great to meet another Christian. :) A knowledge of Bible prophecy is definitely going to be very valuable for anyone that is trying to understand what is happening right now.

      On this website I don’t take guest posts because I have told other websites that pick up these articles that I will always be the author of all of them.

      However, I do have other websites where I do take guest posts.

      If anyone out there wants to submit guest posts for some of my other sites, you can send your guest post submissions to the following email address….

      guestpostsandsubmissions (at) hotmail (dot) com

      On The Economic Collapse, I have to abide by the agreements that I have made with all of the other sites that pick up these articles. So that is why all the articles here are always authored by me.

      But I do have a number of other sites where I am more than happy to feature guest articles. :)

      Michael

  • John Thomas

    These stats move around as the entities counting them want to push public opinion one direction or the other. A favourite thing for these stat counters to do is ask questions along the line of: “Have you skipped a meal at any time in the last month?” If the answer is yes… You’re “Going Hungry”. Hey everybody, 90% of American children are now “Going Hungry”! We need higher taxes because mean rich people are eating all your children’s food!

  • Rancher

    Michael,
    I did review some past articles but missed the explanation of this. Can you please address the concept…

    Closing down the Fed and replacing our current Fiat money with debt free money. Easy to type and say but just how does it happen step by step. If they shut down the Fed and print another piece of paper money (based on gold/silver?) to replace the green back then the green back is worthless.

    If we are all left standing here with green backs to represent our so called wealth then we are all broke now. The new currency is printed but how does it get into circulation? Whoever gets it (the new money)is now the new wealthy 5% as there is not enough for everyone. In fact there would be much less money in volume. Do we trade in out greenbacks at a 100:1 devaluation rate or what? Then what about all the other countries and people left holding green backs?

    I am not getting how the conversion would take place under the plan.

    We have positioned ourselves very well for whatever might happen and wished more would do that but this idea you float needs a tab to highlight to go to the clear cut explanation.

    Thanks for the good work and we have already listed this sight as a good tool to use on our prepper site.

    • Michael

      Rancher:

      Our money is already backed by nothing, but under a debt-free money system the government would be able to issue new money without going into more debt.

      You don’t have to create a “new currency” to start issuing debt-free dollars. Just look at what JFK did before he was taken out.

      The U.S. Congress could shut down the Federal Reserve, start issuing U.S. dollars that do not increase government debt and continue on with business pretty much as usual.

      It would not be as radical a change as many seem to think. But it would stop the perpetual government debt machine.

      Michael

      • Highspeed

        What would then happen to our status as world currency standard?

        • Michael

          The U.S. dollar is going to lose reserve currency status either way.

          Right now, we are on the path to ruining our currency. My solution would still involve a degree of inflation for the next 30 to 50 years, but after that we could go to some form of “hard money” and have the strongest currency in the world once again.

          Of course my solution will never be implemented, but I like to play “what if”. :)

          Michael

    • Rancher

      So if I read you correctly the new money would not be gold backed…just good faith in another lie? Would the new money hold the same face value in trade? Would they slowly pull out the old currency and burn it then replace it with the new?

      • Michael

        There are lots of ways that you could do it, but I think the easiest way would be to continue to honor all existing Federal Reserve Notes but to not print any additional ones. Slowly, the new “United States money” would replace all of the old currency.

        The new U.S. dollars would have the same value as the old Federal Reserve notes. The rate of inflation would be about what we are experiencing now, but we would not be adding any additional federal debt.

        And if the U.S. government could be persuaded to run something close to a balanced budget the rate of inflation could be kept very, very low.

        Michael

  • Tony N

    This is why a Grounding in Faith in God is so Important .

    http://rt.com/news/dna-virus-infecting-brain-897/

  • mondobeyondo

    An absolute tragedy, for a nation which once sent 12 men to the surface of the moon. These days, the government struggles to feed its citizens green cheese. How far we have fallen.

  • Tony N

    All we have done over the past 20 years or so has been to concentrate on profit from the world markets as this report shows . and in the process have transferred all our Vital Human needs Productions called a Industrial Base over to Asia and so has Europe and this is what is taking down the Euro and as soon as that is done the Dollar is next . http://www.youtube.com/watch?v=fr9sVD-n_N4

  • Tony N

    We need to retool our industrial base to at least be able to supply our most needed supplies and then we can negotiate and sustain some what of a quality sand abundance in our supply of vital human needs . We should have seen Mitt and his Bain capital people realize this need to keep America a Vital force in world trade and supply of products , but instead Mitt and his Greedy group focused Only on the Dollars and not on what that currency was representing , and today all we have left is the paper with nothing of Tangible intrinsic value to back it up , and this is what we get read these links by our so called TRADE PARTNERS , Putin says U.S. is “parasite” on global economy
    http://www.reuters.com/article/2011/08/01/us-russia-putin-usa-idUSTRE77052R20110801
    If The Eurozone breaks apart and they are so dang dependent on BRIC nations supply , they may be in a Position to Break away from the US Dollar are world trade currency to maintain their supply of tangible goods a Vital human needs over a paper US Dollar , this is the kind of critical position we our talking about here .
    Ahmadinejad of Iran Is President of OPEC?
    http://shortlittlerebel.wordpress.com/2011/06/01/ahmadinejad-of-iran-is-president-of-opec/

    Yuan Will Be Fully Convertible by 2015, Chinese Officials Tell EU Chamber
    http://www.bloomberg.com/news/2011-09-08/yuan-to-be-fully-convertible-by-2015-eu-chamber.html
    We need to restore some of Our Industrial Base to supply our most basic Vital human needs before this complete rejection of the US dollar by our Foreign suppliers we are dependent on happens , like this video tells what it will be like , Iceland in 2008 is a great example of what it will be like ,
    United States Economic Tsunami – TIME TO WAKE UP!!!
    http://www.youtube.com/watch?v=M0SmVYxrLTE

  • Tony N

    Here is How Romney used the system like a Useful Idiot to enable the collapse to take place as Consolidation of world wealth was taking place, Obama’s Science CZAR wants to DE-Develop the USA , http://www.cnsnews.com/node/75388 , and SERFDOM settled in on we the people of the USA and European as we became less and less Self …reliant on our own productions of our needs , this is how survival is Challenged , I mean think about it , do you Out source Your Ammunition supply to your enemy ?

    And this was Planned by the Liberals who think consumption is killing the earth and would rather see humanity suffer than earth .

    Of course logical People realize this ideology is dangerous thinking but thats who Obama has around him . We the people can make renewable resources and create low impact actions on our earth we are the smartest species of any so we should be able to create our sustainability without giving up our Liberties .

    The High Cost of the China-WTO Deal: Administration’s own analysis suggests spiraling deficits, job losses; By Robert E. Scott; February 1, 2000:
    http://ning.it/cNJn9O
    And
    http://ning.it/bTIt9f
    It has also taken Mexico\’s Jobs away over the years too. Europe\’s Jobs too. This is all because of a Simple Currency manipulation that does nothing to promote quality in our products.
    Remember what Ross Perot said , we would Hear a Giant Sucking Sound with this Trade Policy , he was right . http://www.thenation.com/article/new-giant-sucking-sound

  • NWO

    ECONOMY IS IN SHAMBLES. YOUR RIGHTS ARE GONE. ENJOY BEING A SLAVE!

    • http://yahoo scout

      nwo, you are exactly right. We slept while our rights were taken. Slaves we are……..

  • Syrin

    It is no co-incidence that as Bush massively expanded gov’t, then Obamugabe expanded it a level that can’t be adequately explained with words, the economy has turned to the worse. The parasite is killing the host, killing the goose that lays the golden eggs, or whatever you prefer. 80,000+ regulations, 100,000 page tax code and taxation higher than any other nation on the planet is NOT the path to creating societal wealth. It is a path to tyranny, but not the betterment of society.

    • u can’t have my god damn name

      no you’re wrong

      Europe has higher taxes than the usa

      • McKinley Morganfield

        Check it out, France has lower corporate and capital gain taxes than the USA.

        • APC

          I live in France. You get slaughtered with capital gains tax in France. Ask any englishman who has tried to flip a house here. Not much of a housing bubble in France, not that that will save us.

  • RBM

    Michael,
    When you say direct issuance of currency by the government instead of the Federal Reserve would lead to prosperity, I fail to understand how that would work. The government is spending more than it is taking in. If I understand you correctly, the US government would simply print more dollars to cover its deficits? That would be hugely inflationary and would destroy any credibility to the dollar as a fiat currency. I think we need to go back to a gold standard. Since 1971, when the gold standard window was closed, inflation has been rampant and the dollar is worth a small fraction of what it was 40 years ago. Thus, direct government money printing is not the solution.

    • Michael

      Yes, when the government spends more than it takes in it is inflationary. That is true under our current system and it would be true under a debt-free currency system.

      I have always advocated for a balanced budget.

      However, under a debt-free currency system we would not have accumulated 15 trillion dollars in debt.

      Yes, I think “hard money” would be beneficial, but first we owe it to future generations to get rid of the 15 trillion dollars of debt before we make that transition. Under a debt-free monetary system that would be possible over time.

      If we go to “hard money” right now, we will “lock in” this 15 trillion dollar debt for future generations and that would be very wrong for us to do.

      Michael

      • Rancher

        I fail to see how you explain that. Perhaps you can devote a simple article to address exactly how this works?

      • Rancher

        Mike, Can you PLEASE explain in easy to follow steps how printing another form of paper money called debt free fixes anything. I am just to dumb to grasp this line of thinking….

        I just do not see how anything works short of spending much less than is taken in and using the surplus to pay off all debt the nation owes until we run a surplus and enjoy interest payments from lending to others from a position of strength. As God says it is better to be the lender than the borrower. Even the chinese have that one figured out.

        • Michael

          I am going to do a full article about this soon.

          Right now our current system produces both inflation and more debt.

          Under a debt-free money system only inflation would be a problem.

          But we cannot go to a hard money system right now with a debt of 15 trillion dollars staring us in the face. We created this mess for future generations and we need to fix it. It would be criminal to pass this debt on to future generations.

          Michael

      • borsabil

        15 trillion? You’re talking about government held debt which is only part of the problem. Total debt outstanding in the economy is closer to 60 trillion currently. Oh and lets not forget the promises the government has made to pay pensions, health care (another 200 trillion), to backstop the bankers (countless trillions more). The debt will either be paid with future production or it won’t, having paper or gold is irrelevant. You give me a gold coin or an FRN, well thank you, but best be sure I can exchange them for something I value like food or bullets. You’re arguing for a hyperinflationary default, which will certainly wipe the debt clean in a fiat money system, but it will also wreck what is left of the American social order and destroy ordinary peoples saved wealth. There is NO easy way out of this, we face a series of various sucky options. My own choice would be partial default, to forget about the promises that can’t be kept, to implement a vicious austerity with a basic safety net so folks don’t starve. Get the debt down below long term average (less than half what it is now) and to do it quickly. Time to man up, saying that the chance of that actually happening are approx zero, so for those looking to prepare hyperinflation seems all but inevitable sometime down the track God help us.

        • Michael

          No hyperinflationary default.

          I advocate paying the debt off over 30 to 50 years with debt-free money.

          Yes, we will have some inflation under that scenario, but we would end up with zero debt, no Great Depression and a much brighter future for our children and grandchildren.

          Any other solution out there that can offer that?

          Michael

          • borsabil

            So many confuse accounting with economics. Money with currency.

            A ‘little’ inflation? We’re talking about hundreds of trillions of dollars. You describe a slow default over 50 years, so lets do the math. Assuming the government continues to pay out SS benefits (very unlikely) and medicare (mathematically impossible given it’s current 10% compound growth). Assuming the government brings down it’s deficit through austerity so it stabilises at say 120% GDP (zero sign of that from DC). Assuming the various alphabet soup debt held by the Fed is honoured so the banking system doesn’t blow up, we’ll be left with 200 trillion plus of government held debt which will need to be paid down over your 50 years. BTW this is ignoring privately held debt which is an even bigger problem. So the government will have to print some 2 trillion dollars a year of freshly printed greenbacks, year after year for 50 years, and you think this wouldn’t lead to rampant inflation? Of course the US HAS experienced hyperinflation before, twice in fact, both occasions due to government doing exactly what you advocate. Yet another poster arguing for the magic money tree to prop up a gigantic ponzi scheme, very disappointing.

          • Michael

            Borsabil:

            Under my debt-free money proposal, the federal government would never accumulate another penny of debt.

            Not another single penny of debt.

            So your analysis is way off.

            I will do a full post about this some time soon.

            I can see that people are not understanding this at all.

            And is there anyone out there with a suggestion for a better solution?

            Michael

          • Gary2

            Yes-tax the rich and spread the wealth.

    • Curt W

      I keep hearing people wanting to go back to the gold standard. But if you gathered up all the gold in the world @ $2,000 an ounce, it would not pay off the debt. The gold that our government currently holds would greatly reduce the money supply, possibly by a factor of 10.

      • Mike

        And thus…. the price of gold would need to rise.

      • Monk

        Also, it’s possible that the U.S. moved away from the gold standard because other countries wanted their dollars redeemed (which works against the U.S.).

        Thus, the conclusion of the article is incorrect: it’s not just the Fed but corporations and households that were accumulating debt in order to sustain profits, the military, a middle class lifestyle, and the economy (70 pct of which is based on consumer spending).

        The solution isn’t just to get rid of the Fed but also to cut back heavily on borrowing and spending. That, unfortunately, will mean the destruction of the middle class, a return to factory and farm work (70 pct of U.S. workers are in the service industry), the removal not just of Fed but of major banks and U.S. corporations, a massive weakening of the U.S. military and police forces.

        The bad news is that none of these groups–government, corporations, households–will accept major cuts on borrowing and spending. They will instead try to blame each other.

      • borsabil

        We live under a debt money system run by a banking cartel. i.e. all money is levered up by at least a factor of 10:1 (in reality more like 50 or 100). Gold is at the top of the pyramid, which is why central bankers and the IMF are the worlds largest holders of the stuff. In an industrial economy deflation is the natural scheme of things, as productivity improves we SHOULD be getting more stuff, more production with the money we earn. However central bankers and their government servants see to it that the currency is continually debased through inflation. This allows the elites to steal YOUR production. Inflation benefits the wealthy as they can take advantage of the asset bubbles and ponzi schemes which inflation stokes due to the simple fact that they get access to money before anyone else.

      • EJS

        That’s why you re-value gold to $10k-20k per ounce. Not rocket science…..

        “I keep hearing people wanting to go back to the gold standard. But if you gathered up all the gold in the world @ $2,000 an ounce, it would not pay off the debt. The gold that our government currently holds would greatly reduce the money supply, possibly by a factor of 10.”

        • Curt W

          The US has less than 5% of the world population. Borrow and spend is the only reason we became a super power. If we stop we will need to take our place in the new world order, there are billions of people willing to work for $20 a day. If we stop our fiat money supply we will need to adapt to the norm, minimum wages and unions will cease to exist, and we will be forced to compete on a level playing field.

          HELP WANTED: labor $2.00 hr.

    • D

      Debt-free currency systems have worked very well in past societies (long, long time ago) until the banks and/or leaders forced the centralized systems (like the Fed).

      Watch the documentary “Secret of the Oz”. It discusses these issues.

      http://www.youtube.com/watch?v=swkq2E8mswI

  • Joe

    Thanks. You are correct the privately owned federal reserve is the main problem. Until it is abolished we are hamsters on a wheel spiraling further into debt that mathematically can not be repayed.

  • Sackerson

    Re your last couple of points:

    Debt has increased enormously under President Obama, but to be fair, not exactly because of him. He didn’t plant that bomb: previous administrations over the past 30 years did that.

    He did have (maybe) a golden window of opportunity at the start, when he might have started mass prosecutions and also allowed crony-capitalist banks to fail, though what the latter might have done in wrecking revenge I can’t say.

    Anyone want to play “if I had been President I’d have…” ?

  • http://placeofrefuge2012.com Sheila

    The solution is to learn to live self-sufficiently, not depending on a corporate job OR the government for your welfare. It’s possible, and it’s tremendously satisfying.

    placeofrefuge2012.com

    • Kevin2

      Indirectly we’re all dependent upon a corporate job. Remove wealth creation via value adding manufacturing and we become the third world living off of agriculture and raw materials. Your standard of living across the board drops including medical care, education, available affordable utilities, individual protection and economic security.

      You might survive as a substance farmer but I don’t call it tremendously satisfying.

  • Joellyn

    Reaganomics, AKA, the Economy KIller.

    • Kevin2

      Free Trade with slave labor nations killed the economy with 83% of Republican and 80% Democrat backing.

      Focus on the right and your sucker punched by the left as in Bill Clinton de-regulating the banking industry (Glass-Stegall) and signing NAFTA and China Free Trade. Focus on the left and you get Bush with wars everywhere. Focus on the middle and you get the worst of both.

  • Old Wisdom

    The elites (1%) have been playing with fire for a very long time now. Playing with fire never ends well. You get burned… really, really, bad!

  • http://overthrowshow.com RIcci Olson

    We are all about spreading the message of awareness on the overthrowshow.com. Take back our country from big banksters!

  • Old Wisdom

    We could easily make machines do all the work for us. We already have the technology. Technically machines can do everything a man does, and more. They can fly planes. They can produce goods..do quality checks, everything. We sit back and enjoy everything for FREE…because when machines do everything, the COST approaches ZERO!
    Because machines do not earn wages, do not get sick, can work overtime, can work continuously forever without getting tired, do not reproduce like females, do not need health insurance, do not make mistakes like humans, and produce homogeneous, guaranteed quality and standard products and services, AND ABOVE ALL DO NOT HAVE TO PAY TAXES!
    The elite/people running the govt. do not like the last point…because they want free/effortless money from the workers to perpetrate their criminal corporations.
    Technically speaking, machines are the ideal slaves…but the BIG PROBLEM is you cant earn taxes from machines. That is why the elite doesn’t like them.
    The sooner we move our society to “ALL MACHINES”, the sooner the cost of living approaches zero, no more taxes to pay, and we can enjoy the things in life we like to do in full freedom.
    And this will guarantee the death of the elites and their game plan.
    If there is an optimum need of 140 million workers right now, I would guess/presume that 14 million machines is all that is required to do all the work that 140 million workers can do.
    Just imagine the added benefits:
    Reduction in energy cost.
    We need to make 14 million machines/robots fast to do all our work and put the elites out of business forever and send their criminal game plan to HELL.

    • 007

      Didn’t know machines could worship, dream, imagine, invent, have faith, determine right or wrong or exercise free will.

    • borsabil

      Free? Machines need to be built, using such things as steel and aluminium, they need to be assembled (presumably by other machines). They need to be maintained and fixed when they break down. And here’s the killer, they need energy, lots and lots of energy. There is no such thing as a free anything in the universe, I do wish people would stop arguing in favor of various perpetual motion machines or gold defecating unicorns that will fertilize the magic money tree to make their particular ponzi scheme of choice self sustainable.

  • Ben Golum

    Everyone is so wrapped up in politics. Its so over. It is ALL about money… just follow the $$$. Hard landing or auger in? Matters not as this will not end well.

  • http://eternian.wordpress.com Daniel Knight

    @igotadose

    “Can’t feed ‘em – don’t breed em.

    China has the right idea.”

    Um atheist retard: It’s China’s atheist government that forces the Chinese citizens to abort and sterilize, you ignorant psychopath. Further, are you a prophet you moron? So anyone that has a child and “can’t feedem’” you smug moron, never had the resources too, just everyone who has a baby and ends up being too poor to feed them well started out poor? So you’re a psychic and can see everyone’s situation when something happens and what will happen in the future you dumb communist idiot? Why are you so gullible and naive? Let me guess: because you reject the source of truth itself, God. Obviously. It’s because of idiots like you that the world is poor, not because “omg someone had a baby oooh it’s making me poor”. No moron: if self centered false prophets like yourself helped, Mr. Share and Care Communist, babies would be fed, rather than your belly being fat while you preach to others to not waste their resources on babies. You stupid anti-civilization idiot, yes, you are the destroyer, you are the one who isn’t civil and who doesn’t contribute. You are a leech because you’re a presumptuous idiot, an assumer who ignores common sense! Stop mocking, stop leeching and start sharing.

    Oh and atheist, who is apart of a group that killed 155,000,000 (including abortions in America) in the past 100 years with your oh so helpful anti-Christian communist evolutionist leaders, please stop murdering people who are needed to work to feed the world, ok? Can you stop endorsing murder? If you are ignorant, and hate to read, and hate to study carefully, don’t preach. Common sense.

    May God continue to bless you till you thank him for once.

    • igotadose

      Pushed a button, did I?

      Hint: The chinese can do the math. Can you? Whose economy is growing? Whose isn’t? Who has added 30million to the country in the last 10 years, without equivalent job growth?

      Can’t feed em – why should *I* feed ‘em? Every child born since 1960 was by choice. You breed ‘em, you feed ‘em. Keep your hands out of my wallet.

      As is usual when someone questions FundyFreak orthodoxy about breeding, you get attacked. Not surprising.

      Needed to work to make the food… *laugh* Go get some data from anywhere other than the King James’ edition.

      I thank God every day for the ability to make choices.

      With all the apocalypse preachers on this site, ‘coming hard times’, ‘buy gold,’ blah blah crap, why would you bring *another* human onto the planet to enjoy that with you?

      Open your eyes, dullard.

      • gary2

        The modern conservative is engaged in one of man’s oldest exercises in moral philosophy: The search for a moral justification for selfishness. (John Kenneth Galbraith)

        The poster that called you out was correct. You are a selfish person. I guess your bible does not have the part about being your brothers keeper?

        Yep-another hypocritical Christian. Nothing new here. Same old same old.

  • michael Phippen

    Has anybody read The Way Forward by Daniel Alpert, Nouriel Roubini and a Columbia Law Professor. If you have not you need to throw in the combine that is your processing organ!

  • George

    According to the US debt clock, the $15 Trillion federal debt is only the tip of the iceberg. The real threat lies in unfunded public “pension”-type liabilities: (1) $117 Trillion for Social Security and Medicare and (2) $3.5 Trillion for state and local government pensions. See, http://www.usdebtclock.org/. The only possible beneficiaries of these programs (if the programs last long enough) are those 45 and older. Those under 45 will never significantly benefit and will be subsidizing the older generation. There are about 120 million US citizens 45 and over (40%). There are about 180 million US citizens under 45 (60%). With $120 Trillion in unfunded public liabilities coming due, the under-45 generation owes $665,000 per person on average to the older generation. The average per capita income today is about $40,000 per year. So, the under-45 generation will have to lose 16 full years of income production to make up the funding gap for the older generation. Sacrifice by an entire generation is not a topic any politician likes to bring up.

    The World War II generation is known as the “Greatest Generation” for its sacrifices for the benefit of future generations of Americans. What is lacking in our public discourse today is which generation will be willing to make the necessary sacrifice this time.

  • http://lastdayrapture.blogspot.com/ TK

    Great article as usual.

    It appears that there is only one candidate running for president who cares about the fundamental issues we face with a debt based currency.

    Ron Paul has a great plan to fix the underlying issues that have created the horrible list of items in the post above.

    Vote Ron Paul! Vote for Freedom!

  • KCRob

    The poverty number is, at best, misleading. It all depends on how poverty is defined:

    Under President Obama’s new definitions, a family of four in Oakland is “near poor” if their annual pre-tax income is less than $89,700 plus medical insurance. In metropolitan Washington, D.C., the near-poverty line became $80,500. In New York, it’s now $78,500; in Boston, $68,900; and Chicago, $68,600

    http://www.nationalreview.com/corner/286046/how-obamas-other-half-lives-robert-rector

    Times are tough but we do no favors using politically driven numbers designed to fuel the crisis.

  • bj

    Why does everyone talk about jobs going overseas as if that’s all that’s happened? Let me explain. Music used to be bought in stores on either records or cds. Those discs were manufactured here after raw materials were shipped to the factories by truckers and railroads. Then they were shipped to warehouses, then to stores where they were sold by retail workers. Now? It’s all digital. How about the print industry? Are there any typesetters still employed? Books are due to become extinct soon. And when was the last time you called a company and a REAL PERSON picked up the phone? Secretaries? Yeah, another class of jobs that is slowly becoming extinct.

    Those jobs just . . . went away.

    Ain’t technology just ducky?

  • John Steinsvold

    An Alternative to Capitalism (if the people knew about it, they would demand it)

    Several decades ago, Margaret Thatcher claimed: “There is no alternative”. She was referring to capitalism. Today, this negative attitude still persists.

    I would like to offer an alternative to capitalism for the American people to consider. Please click on the following link. It will take you to an essay titled: “Home of the Brave?” which was published by the Athenaeum Library of Philosophy:

    http://evans-experientialism.freewebspace.com/steinsvold.htm

    John Steinsvold

    “Insanity is doing the same thing over and over and expecting a different result.”
    ~ Albert Einstein

    • http://ecriegel.blogspot.com David Burton

      Re: HOME OF THE BRAVE – JOHN STEINVOLD

      “The Human Race has improved everything except the Human Race.” Adlai Stevenson

      Yeah, John, I like this bit of Stevenson in there at the end for pithiness. Unfortunately it’s beside the point, as some things humans ask themselves to do are either beyond the capabilities of humans (hubris) or are in one way or another just not worth the effort.

      Your thesis needs a complete work around. It’s like you are looking at things through the wrong end of a telescope. That’s all right, I’m not surprised. I have been researching everything for a long time, at least 20 years. It is said that when the student is ready the teacher appears. That’s rou8ghly what happened to me a few months ago when I encountered the work of E. C. Riegel. It isn’t money that’s the problem, it’s who creates it that’s the problem and once a vital set of clearly discernible principles is understood a lot falls away that becomes either irrelevant or invalid. I invite you to read for yourself:

      http://riegelexchange.com/downloads/NewApproachToFreedom.pdf
      http://riegelexchange.com/downloads/PrivateEnterpriseMoney.pdf
      http://riegelexchange.com/downloads/Flight_From_Inflation.pdf

      After that you can come join us here:

      http://ecriegel.blogspot.com/

      Your comments are welcome.

  • J Stevens

    Michael,
    I heard you on WBAL the other day. Great job. They should have devoted more time to you but still good to hear your thoughts.

    • Michael

      I had to get up really early in the morning to do that one. :) I was honored to be on WBAL and hopefully they will invite me back again some time.

      Michael

      • gary2

        Hey Mikee-can you put links to your radio etc interviews so we can all see them?

        • Michael

          Gary:

          I really don’t keep track of all of them. But in the future I will try to find some links for you guys when I do them.

          Michael

  • The time is almost here

    2012 will be the Hell on earth year, mothers will prepare depression era foods for dinner, rice, beans, legumes,
    Meat, pultry, fish will be luxery items.
    No more disposable diapers, cloth teusable will be affordable, no unecessary trips in the car one car per family. In many ways we r going back 60 some odd years of lifestyle

    • mondobeyondo

      Oh gosh, I hope not. The “Dirty Thirties” were not exactly party time years… if you know what I mean.

      My grandparents could have written a book called “101 Uses for a Potato”. They never did. But it’s amazing what a simple spud can do. You can even make vodka from potatoes. Ha!!

  • http://EconomicCollapse Already Gone

    Congress just passed another trillion dollar
    spending bill to keep the government operating,
    Whoopee!

  • Roger

    Ron Paul 2012. Obama doesn’t understand the economy and we need to replace him with someone that does.

  • sierra

    AS part of Occupy Sonora (CA) we make lots of our own signs….I finally condensed my political/social beliefs:
    “Dismantle the National Security State”
    and,
    “Stop the Corporate Occupation of our Government”

    The two sides of the sign are “two sides of the same coin”…….one represents the horrible military/industrial/financial complex sucking our economy dry, and the other is booting corporate money out of our government.

    Tariq Ali recently stated that change will eventually come when ordinary people come to terms with death.
    He’s right. So far the “movements” across this world in some cases involve ordinary citizens putting their beliefs on the line in death; here in America ordinary citizens have not risen to that historical level…..yet….
    Until they do, nothing really substantive will change.
    Good luck!

  • http://www.TotalCollapse.com TotalCollapse.com

    C’mon Baby, Gimme One More Chance… 2012 = Total Collapse… Wake Up America, or lose everything!

    http://totalcollapse.com/2011/12/16/cmon-baby-gimme-one-more-chance/

  • Gary2

    The rich use their money to legally bribe politicians to support policies that favor themselves over the middle class in the auction that we call elections. And the policies they support are different from those supported by the majority of middle class Americans voters.

    I put this also in response to a dim wit right winger (ok I know they are all dim wits) saying how hard the rich work (gag)and that we should not steal from them. This goof wanted an example of the rich stealing from the rest of us.

    It bears repeating that unless we tax the rich hard and spread the wealth nothing will ever be fixed.

    Now I need to go drop another job creator in the toilet!

    • brek

      You are right in that special interest (rich) control government. Things are to the point now where the system is dysfunctional. We now have government vs the people as opposed to government by the people.

    • Ben Dover

      re: Your post about reeducation. You are exactly why I need firearms.

      • gary2

        I was using hyperbole. You know the only gun I ever shot was the kind where it takes 10 minutes to load between shots.

        • Anonymous

          Do you think such innuendos are appropriate here?

    • Josh

      Gary, you need to differentiate between the “rich” and the elite 1%. If you think people making 250,000 a year are controlling Congress than you are delusional.

      • Gary2

        you are correct, however, anyone making over 110,000 or so is in the top income bracket.

    • Joe R.

      The rich use their money to legally bribe politicians

      Yet you are only blaming one half of the criminals involved, and are perfectly comfortable with the other half keeping their vast power.

  • http://www.TotalCollapse.com TotalCollapse.com

    The Wreck of the Edmund Fitzgerald… AKA… Global Economy… grab the white ring…( silver )… save yourself…while you still can…

    http://totalcollapse.com/2011/12/16/the-wreck-of-the-edmund-fitzgerald-aka-global-economy-grab-the-white-ring-silver-save-yourself-while-you-can-nobody-else-will/

    • gary2

      I have been to the museum and saw one of the lifeboats. Very interesting.

      • http://YAHOO RICHARD

        I LOVE THAT SONG!!

  • Alex

    I agree that the economy isn’t doing great, but some of these statistics are misleading and inaccurate.

    “#5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers. #6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.” – Why isn’t there any mention of small businesses hiring contractors? What if the percent of that has gone up?

    “#7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.” – Well, the average household size is decreasing, so this kind of makes sense.http://www.msnbc.msn.com/id/14942047/ns/technology_and_science-science/t/census-us-household-size-shrinking/#.TuwngmMr2nA
    Either way, 2007-2011 is a relatively small range for judging the US economy. Look at the stock market – it goes up and down all the time, but overall it’s been going up, right? I mean, there are bumps, it’s not a straight line…

    “#17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.” – Because people are increasingly using e-mail… USPS just fails to innovate and is therefore slowly. There are so many business opportunities for it to revive itself and thrive, but it isn’t considering any of them. Perhaps Netflix should blame the economy for its failures, too?

    “#24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.” – Yes, oil prices are going up.

    “#27 If you can believe it, one out of every seven Americans has at least 10 credit cards.” – Because I get about 10 offers per week?

    “#29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.” – In 2006, it was $763.3 billion. What’s your point?

    “#43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.” – maybe this is true, but could it be that the government has become more generous about benefits?

    “#44 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.” – War in Iraq maybe?

    “#47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.” – Yes, someone before Obama decided to invade Iraq, and the war has cost us how many trillion? And how much did we spend searching for bin Laden?

    Either way, what’s wrong with debt? It’s capitalism… debt is what makes America successful. Besides, since the US controls the US dollar, it essentially controls the “value” of its debt and “how much” it owes in exchange. It’s a bigger risk for those who are buying our debt – they should be worried about possibly not getting an ROI.

    • McKinley Morganfield

      Alex,

      There is reasonable debt that can leave one with a more valuable set of assets in the long run. There is also debt that is unreasonable and destructive. Debt that can never be repaid is destructive.

    • Rob

      Alex: #5 – Debating an argument with an unqualified what if doesn’t score points.
      #7 – the population number vs. the inflation number. Inflation officially leaves out food and fuel. Not so with household numbers. As for the stock market, what percentage of it is owned by the top 5%? It’s going up and down is irrelevant unless it’s ownership affects a majority.
      #17 – a small impact e-mail is. The fact that Congress passed a bill that requires the Post Office to fund the next 75 years of pensions fully within a 10 year window is the culprit. Otherwise they would be doing better than fine.(http://tinyurl.com/7nr82w5)
      #43 – I suggest you do some research and go ask people who are on them. Having been on unemployment I can assure you it isn’t so. To qualify for food stamps my assets couldn’t be greater than $700. I presently qualify for $16 per month.

      As for your comments about debt, I would suggest briefly looking at the mortgage crisis, essentially debt, that bubble that so effectively burst the economy. Debt, like unemployment, has some relative level. Unsustainable levels, like those in the housing market, will do exactly what they did.

      The claim of “misleading and inaccurate” was ironically, inaccurate. Some of your arguments I agree with. For example, the costs of the conflicts in the Middle East. However, it does you no justice to answer questions you consider misleading with speculation of your own.

    • Rancher

      We might control the dollar but they do not have to play. All it takes is a few countries refusing to use US currency as their only means to do deals with. Then seeing that works and we do not nuke them or invade them then they will join. Soon our dollars will not be wanted or needed to do world deals.

      By the way this country has had a great past with no debt or short term debt in the past. No country has ever carried this load and had such a shrinking economic base unable to pay it off before in history. It will fail….

    • http://yahoo scout

      Alex,You can’t sit around and argue about whether the figures are off by 10,000 dollars. It’s bad. Very close to factual. Don’t be like Katrina folks. It’ll be ok. When we say wake up, we mean wide awake.

  • http://www.TotalCollapse.com TotalCollapse.com
  • Colin

    I don’t think our political system will change much. Historically, 85% of incumbents are elected back into office. The only solution to our problem is the one solution that most Americans wont’ consider – a coup d’etat of our government by the people.

    I think that in 2013 we will see President Obama still in office, and the Congress still under the control of the Republicans. (It doesn’t matter if in the Senate if the Democrats still have a majority as the Republicans have mastered the art of filibustering, and can dictate the course of this upper body.) In other words, the status quo will still be in place.

  • tappedops

    Mr M…

    Far too many zombies here …
    time for a piece on right -left “pair-a-dime”

    20 cents says you cant break it to them…

  • http://blendininn@yahoo.com gary hillerich

    its the private for profit non-federal no-reserve that makes our conterfeit currency from thin air stupid..
    elect Ron Paul and put an end to this phony,conterfeit money system with its horrendous boom and bust cycles and never ending inflation followed by deflation followed by hyperinflation at the end which we are very,very near folks
    Thomas Jefferson warned us if we ever let private banksters control the issuance of our currency we would wake up homeless and penniless on the continent our forefathers founded,and unfortunately Jefferson,the founding finanicial genius,was spot on correct

  • TonyB

    China produces goods that people want, then saves the revenue earned. The west borrows and consumes. The party is over. The US$ is surviving only because the rest of the world has to buy dollars in order to buy oil. The Euro currency allowed countries to join that were not in any sort of suitable financial position to sustain membership.

    In the US wealth has been transferring from the bottom 98% to the top 2% at an exponentially increasing rate ever since Reagan – this top 2% are the folks who fund the election campaigns and then lobby for legislation. An outsider looking in would call this corruption, Americans call it the American Dream. America is still – for now – the ‘richest’ country in the world but we need to decide as a nation how to use that wealth, as an example we dont even make the top 10 lowest infant mortality list http://www.mapsofworld.com/world-top-ten/countries-with-lowest-infant-mortality.html
    We need to stop confusing socialist policies with communism, we already have socialist policies .. it isn’t a dirty word – its a method by which the least able to care for themselves, for whatever reason, are provided for by those more fortunate.

    Oh and mangling the presidents name into that of a dictator or related insult just means I dont take your point of view into account.

    • Kevin2

      Tony B

      Yep the MIC is intertwined through the fabric of the US economic strategy.

      1. We print money and buy stuff (and weapons) and our money is exclusively used in oil transactions by nations under (#2) below. We buy foreign goods trading paper for real items. This allows us to export our inflation.

      2. We “guard” a significant part of the world.

      3. The more of the world that we “guard” the more nations must use the USD for transactions. We have a vested interest in “guarding” everyone if possible.

      4. Nations that desire to trade oil for anything other then the USD are smeared in the press. The war drums beat first covertly but if necessary overtly.

      5. Nations in (#4) get a change in rulers to someone more understanding and agreeable to our plans in #1 above.

      Our one export is paper with very detailed pictures of historical figures.

  • Get ready here it comes

    If you haven’t thought about the end game maybe it is time you start thinking about it.
    Start preparing NOW, If not for you, then for your loved ones, your children, your wives, your parents, your grandparents.
    When this banking system breaks down and it will(according to Michael’s staggering 50 economic numbers)the larger cities will be over run by Gangs with mob mentality. Look what happens when their favorite team either wins or loses a playoff game?
    They don’t need a good reason to start rioting and burning down neighborhoods, just imagine what will happen when people get hungry.
    I imagine you’ll have your “Green” areas where the Police and or private Security companies control, but the rest will be Gang ruled.
    It’s not the United Nations or even Uncle Sam you should worry about, it’s Gangs or roving bands of ruthless people looking to take whatever they can get a hold of.

  • http://edwardmd.wordpress.com/ Ed Ward, MD

    But, What I Really Wanna’ Know Is….
     
    Just How Gutless/Stupid/Sick Do We Have to Be To Do It to Ourselves? http://edwardmd.wordpress.com/2011/01/
     
    FIXED VOTE = NO VOTE http://www.flickr.com/photos/66799032@N08/6120141236/in/photostream http://edwardmd.wordpress.com/2009/10/23/fixed-vote-no-vote-i-will-not-assist-thin-air-vote-counting/

    German High Court Outlaws Electronic Voting
    Wednesday, 21 October 2009, 9:45 am
    http://www.scoop.co.nz/stories/HL0910/S00187.htm

    Hacking Democracy – 90 minutes of proof the vote is fixed on multiple levels.
    http://video.google.com/videoplay?docid=7926958774822130737#

    City of New Orleans, LA & 36 Other State’s Elections Fixed http://www.thepriceofliberty.org/06/07/17/ward.htm

    FIXED VOTE = NO VOTE http://www.flickr.com/photos/66799032@N08/6120141236/in/photostream http://edwardmd.wordpress.com/2009/10/23/fixed-vote-no-vote-i-will-not-assist-thin-air-vote-counting/

    How Can You Sleep Aftewards? I Need to Know.
     
    “How can he have so many arms to beat you with, if he does not borrow them from you?

    The feet that trample down your cities, where does he get them if they are not your own?

    How does he have any power over you except through you?

    How would he dare assail you if he had no cooperation from you?

    What could he do to you if you yourselves did not connive with the thief who plunders you, if you were not accomplices of the murderer who kills you, if you were not traitors to yourselves?

    You sow your crops in order that he may ravage them, you install and furnish your homes to give him goods to pillage; you rear your daughters that he may gratify his lust; you bring up your children in order that he may confer upon them the greatest privilege he knows—to be led into his battles, to be delivered to butchery, to be made the servants of his greed and the instruments of his vengeance; you yield your bodies unto hard labor in order that he may indulge in his delights and wallow in his filthy pleasures; you weaken yourselves in order to make him the stronger and the mightier to hold you in check.

    From all these indignities, such as the very beasts of the field would not endure, you can deliver yourselves if you try, not by taking action, but merely by willing to be free.

    Resolve to serve no more, and you are at once freed.

    I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break into pieces?”

    -Étienne de la Boétie, Judge during the French Renaissance

    Here’s a little ‘light’ reading of reality…. Mind you after hundreds of Millions of Funding was stolen from those that were supposed to be helped….

    In Case You Missed the NOLA BBQ… 8 Homeless Kids… DEAD, 40,000 Homeless in NOLA… About the same number of Vacant properties, 1/3 of which are owned by the city of NOLA.
    http://www.informationclearinghouse.info/article27153.htm

    What is it going to take
    to realize we are not helpless,
    that we do not have to wait
    until all that is left…
    is our inevitable fate.

    It evades me…
    how can it be so easy,
    yet so hard to see,
    Gandhi/work strikes
    will set US free.

    Setting the Record Straight on Mini Nukes in the WTC/9-11 http://rense.com/general91/setting.htm

    ’9-11 Fake Video’ Stars – The JSTAR Clones http://www.rense.com/general92/911fk.htm Why Covert Ops Must Have ‘Fake’ Video

    Dr. Ed Ward, MD – DEWD

    Ed Ward MD’s Weblog of Tyranny http://edwardmd.wordpress.com/ http://www.facebook.com/EdWardMD3 http://groups.yahoo.com/group/EdWard-MD/

    Concise Briefing: Past/Present Global Tyranny – Basic Proof, ID, and Remedy = Proven 9-11 Nukes + Included Links

    Proven 9-11 Nukes = US Government Involvement http://edwardmd.wordpress.com/2010/09/06/proven-9-11-nukes-us-government-involvement/

    Welcome To The END Of DAYS: http://www.youtube.com/watch?v=QFf-o4VzK18

  • Dev

    Michael, congrats once again for making ZeroHedge; 42,412 people as of this morning, 12/17, have read your piece and 528 have commented. Getting published on ZH is a HUGE honor and shows you are a “player” in the world of financial/economic blogs. Keep up the outstanding work; your blog is the best of its kind.

    http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-believe

    • Michael

      Yes, it is a great honor.

      Most people don’t realize this, but my articles actually get read more on other sites than they do on this site.

      I let other sites publish these articles for free and I don’t get any money from it.

      But by being a blessing to others I find that I have been very blessed.

      Thank you to everyone out there that has been a blessing to this site.

      Michael

      • Little L

        Hi. I’ve read at least a few articles on this website, and I’ve read a number of articles elsewhere about the impending economic collapse, both in the U.S. and abroad. I have a question for you: what would you say about a year of Jubilee for the world? In the Old Testament of the Bible, in the Mosaic Law, the Hebrews were given a year of Jubilee in which all major debts were forgiven. The idea I’m seeing here is that every economy needs a reset button because eventually, as where we are today, there is so much debt that there isn’t enough wealth in the world to cover it. While I’m still needing to research this concept in more detail myself, it seems that there is going to be major defaulting by a lot of nations very soon. In fact, China appears to be getting ready to start a war with the buildup of weaponry at all her borders. It seems that the economic collapse will not only involve horrible rioting within nations, but horrible wars between nations as one nation attempts to take another nation’s resources by force. Assuming nations could be persuaded to avoid the slaughter of one another, and the accompanying destruction of what resources do exist, would a year of Jubilee be helpful in drastically defusing the situation? Of course, the next question would be: how does one get nations to agree to a Jubilee year? And do you know if anyone has suggested such an idea before?

        • Michael

          Little L:

          I have heard of the idea of a Jubilee before. Unfortunately, I think that the bankers of the world would rather cut off their right legs than have a debt jubilee.

          Michael

          • Little L

            Michael, thank you for your reply! And thank you for writing this article. May God bless you in your continued efforts to present truth to the public. And I think you’re right about the world’s bankers, and that’s why nothing like this has ever been done. It’s so sad and so ironic, for with the way things are going, it appears that most everyone is going to take a tremendous loss, a far worse loss than what would be incurred with a Jubilee.

  • http://www.ggofgooffkdskxsx moms

    me too!!!!!!!!!!!!!!!

  • chiefosage

    The real reason for all the hype about the country being unable to remain sovreign is so people world wide will accept a one world government and give up their individual sovreignty. America will never give in to world government. We need to throw out the fascists commies and run the country without foreign influence. Throw out the Federal Reserve and commerce that signs on to foreign treaties. We were never meant to be equally yoked with treaties. GMLOGMD

  • Denise

    George -the “Greatest Generation” was anything BUT. They, more than any other set the stage for the train wreck that is the USA. Mindlessly “patriotic” and obedient, endlessly self0indulgent – they have srewed the Nation but good.

    CANCEL the phony debt – and toss the vampires of he the “Federal Reserve” OUT.

  • David Keith

    Buy Your Groceries With Silver Coins
    So you want to change the system. It’s all going to hell and you’re just another bystander, how can you change anything? They own the government, they own the money. First you change the monetary system to a barter system that will starve the monetary system, and its control on the government will wither and die. Are you in? Plan A: tomorrow you tell your employer you want to be paid with silver coins. You and your boss will have one of the most interesting conversations you have had all year. If your boss says OK, great. If not, plan B: you cash your check and buy silver coins. If you buy more than $1500.00 worth of coins there’s no sales tax. Now you are ready to barter with your silver. Go to the grocery store ask the manager if you can use your silver coins to trade for some groceries. If the manager says no, show the manager how shiny the coins are. If the answer is still no, just say thank you and go somewhere else. It will be hard to find your fellow Barterers at first; keep at it and you will be successful. Soon you will be bartering for everything you need. You will be seen as a trend setter. Congratulations, you are helping to start an underground economy, that can turn into what the real economy used to be. And as an extra bonus you will be feared and loathed by the establishment, What can be better than that.

    • mondobeyondo

      It’s good to have some extra cash on hand for emergencies.

      Because when the “bank holiday” comes (and it WILL come!!) – you will not be able to access your checking or savings accounts. Most people have automatic electronic withdrawal to pay their bills. That can – um, WILL – be a problem for those people.

      How long will it last? In 1933, it lasted for 1 week. This time around, who knows?

  • BuddyLama

    Many of the descriptions, especially those regarding poverty, seem redundant and share the misguided and economically ignorant bias of the Occupy Wall Street gangs. The U.S. definitions for “poverty” have changed over the decades referenced, and what passes for poverty here bears no resemblance to true poverty elsewhere in the world.

    http://www.heritage.org/research/reports/2011/07/what-is-poverty

    • Ross

      i’m easily part of the 10-15 richest % in this country now. i’m my own boss, i don’t owe one soul a cent, & just had one of my best years yet. with that said it’s shocking to me that anyone would try to justify these numbers away for ANY reason. That should be #51 on this list.

      Rhetoric like that is as much an enemy to this reality as anything. Seriously what planet do you live on ??? WOW.

  • Chester

    This is just a bunch of libertarian clap-trap. Nice try Ron Paul-bots. Go back to your ghanja and your racist ideals.

    • knightowl77

      What is racist? Be specific or be quiet…

  • http://www.endif.org ENDIF

    #17 The USPS only lost 5 billion dollars because thats how much was raided out of their general fund by congress. They do not receive money from federal taxes .

    #47 This is disingenuously presented. Most federal spending is approved long before it’s paid out, so a significant portion of that was SPENT under Bush, but actually paid out after he left office.

    #50 See #47.

  • steve

    Back in the 1930′s people would kidnap rich people. Nowdays they just “shoot and take” anything of value.
    Why don’t you write on an artical on cutting the unemployment out in Febuary?

    Also how this will benefit rich people?

  • TrishfromDarwin

    Here in Australia we were lucky enough to have leaders who had maintained adequate regulation of our banks, and who stepped in to stimulate the economy and support the banks at the first sign of the GFC. But even our stable and growing economy is vulnerable to the collapsing European circumstances. You’re right that the citizens of the US need to educate themselves about what has happened in their own economy. The fault for the GFC lies squarely at the feet of the ‘profit-at-any-cost’, ‘too-big-to-fail’ banks in the US. The global collapse began there and spread throughout the world, and the consequences for Europe have been devastating. Asia is beginning to be caught up too now, and the future looks glum.

    US citizens need to realise that they have no right to keep electing governments that allow this global phenomenon to continue. Obama has been held back from stimulating the US economy by the right-wing politicians who represent the same forces that caused the GFC in the first place. They and the worst of the media have manipulated public opinion to create fear, hatred and greed.

    A misinformed society then comes to believe that spending money on stimulating the economy is wrong and will only add to the debt. This couldn’t be further from the truth. A stimulated economy recovers and grows and creates more wealth, and that wealth is more evenly spread. Without a middle-class to consume their will be no customers – the 1-2% are too few. So it’s imperative that the US has a strong middle-class, and this won’t happen with more cuts. The US government needs to raise taxes on the richest 20% so that they can use that money to stimulate growth and a more even spread of income throughout the economy. The growth that comes from economic stimulation (and I don’t mean throwing money at the banks…), supports a greater national income and is then available to pay off the national debt.

    Citizens of the US do not have the moral right to allow their governors to cut spending and not tax the wealthy properly, because it affects us all – not just the US. Thks.

    • Kevin2

      Trish

      Interesting thoughts you propose. Ok we will inflate our currency through (stimulation) and you pay the price because the USD is the reserve currency.

      Currency without an increase in productivity equals inflation. You can’t increase your productivity without industrial capacity which has fled (and is fleeing).

      The solution you propose is just what they want. The US is the de-facto banker of the world. Our job is to print money (and computer generated currency credits) and use it to import goods and energy produced elsewhere. We offer “Protection” in trade. Protection from your natural enemies and in their absence some newly created ones. In the end, like the mafia it’s protection from us. MIC is bypassing the “Industrial” and going to the MBC (Military Banking Complex).

      • TrishfromDarwin

        Kevin2,
        Controlled and well-targeted economic stimulus doesn’t result in an inflated currency, or inflated prices. It does increase productivity though, because of the increase in jobs. If the US govt. funded massive infra-structure programs (which I think Obama has attempted to do…), the downstream benefits include productivity increases, growth in small business (new and established), opportunity for manufacturers, skills development (i.e. through apprenticeships and other concomitant training), more salaries and incomes for taxation, and thereby more income for the Govt. to use to pay off the debt.

        These are beneficial consequences that increase by several factors, and quite rapidly. A further consequence of carefully targeted programs is the incentive to stay and manufacture in the US, rather than go elsewhere, because the market is in the US.

        The US has signed many bilateral and global free trade treaties but is notorious for not upholding them, using all kinds of imaginative excuses to, in effect, provide protection for their own industries. This usually results in a dispute that ends up world trade courts, and the outcomes tend to favour the US.

        As for the US as the “de facto banker of the world”, I’m not so sure. Money is such a global commodity that it would be difficult to keep the lending capacity in one system. I think the US owes China almost a trillion (from what I’ve read…).

        I think you might be onto something though, when you talk about the MIC being funded and controlled by the MBC – either way is undesirable.

        • Kevin2

          Trish

          Increasing the money supply certainly increases inflation. They are “cooking the books” here to hide that fact by not including two small items in the equation, food and fuel. At one time they we’re included in the governmental tabulation for inflation but no more. If included we’re over 10%. Go grocery shopping in the US sometime.

          Roads, bridges and the like while vital are not “value adding, self sustaining”; they do not increase productivity. Manufacturing creates wealth and the US has been on the very loosing end of those agreements as can we seen by what we call “the rust belt”. The US balance of trade is the best measure and the US has been on the loosing side of that for the last two decades. You name the industry in the US and they have eviscerated if not evaporated. The rate of industrial decline has done nothing but increase and with it a proportionate rise in debt and poverty. Creating money is not creating wealth.

          The US certainly is the banker of the world. Where are the Euros going? Which is the reserve currency. Be well aware of the capacity of the US to export it’s inflation. It’s happening as we speak. The more dollars produced the higher the price of oil as oil is traded in US dollars. Governments attempting to circumvent exclusive dollars for oil (Iraq & Libya) get a lesson that their leadership need not forget because they don’t survive the aftermath.

          Even the policies enacted during the “Great Depression” did not bring the US out of depression. WW2 did not either with 12 million able bodied removed from the work force and civilian goods rationed. The aftermath of WW2 with the destruction of half the worlds industrial capacity leaving the US as the only significant manufacturer paved the way for massive Us economic growth for two and a half decades.

          We’re not faced with some cyclic economic downtrend but rather a global realignment of economic power. The idea that the US is “The marketplace” was true when the US had the wealth to purchase. Don’t confuse money with wealth or confuse a service economy job with real GDP productivity.

          • TrishfromDarwin

            Kevin2,
            “The aftermath of WW2 with the destruction of half the worlds industrial capacity leaving the US as the only significant manufacturer paved the way for massive Us economic growth for two and a half decades.”
            I hadn’t ever thought of it that way. But I’m wondering now whether even that boom in manufacturing might have been strongly Govt. supported to begin with?? Or was it just the MIC kicking in again, i.e. turning to new markets? Such a strong and proud nation seems to be, on the one hand, striving for a greater humanity and using their education and research to invent and progress, whereas, on the other hand it doesn’t care who or what it treads on to get its way…..

    • Alex S.

      You couldn’t be more wrong.

      The mortgage and housing crisis caused this collapse. The liberal democrats were the ones claiming “everyone should own a house” – Obama was a lawyer with ACORN who actively lobbied and fought to punish banks unless the banks provided loans to poor people who couldn’t afford them.

      Back in 2003 – 2005, it was the Bush administration and republicans saying we needed to regulate Fannie/Freddie because we are going to face a crisis. The democrats, including Obama, put a stop to any regulation, called the republicans racist, and said the institutions were working perfectly. How did that work out? But yeah, blame Bush for the collapse.

      You can’t have it both ways. The republicans were the racist rich people who didn’t want poor people to have houses, yet they are the ones who forced the banks into sub-prime lending to provide houses to the poor people? Please.

      It’s NOT the big banks that caused this. It’s the government intervention. They were told to lower their lending standards because they could sell it all off as securities through Fannie/Freddie (government institutions) – and when banks didn’t lower their standards, they were sued and called racist. When banks act as private institutions with real risk, everyone complains that it’s hard to get a loan. When they make it easy to get a loan (government forces them to), everyone blames them for the results.

      The issue is liberal policies. Period.

      • Kevin2

        Alex S

        The housing bubble is a symptom that added to but did not “cause” the collapse. Thirty plus years of policies that eviscerated the once mighty industrial machine from the high pay of the US auto and steel industry to the lowly pay of the US textile industry was the root cause.They all took a massive decline if they survived at all. As imported goods increased in number and decreased in price the US deficit spent increasing the money supply without inflation because of the low cost of foreign made goods. All of a sudden a nail salon and dog grooming shop became real employment in the nonsense “service economy”. The increase in money to facilitate this originated with government spending virtually always through debt. As more goods were made in China they loaned money back to the US virtually flooding banks with cash to loan. Here comes the ultra low mortgage rates and with it a dramatic rise in both home construction, loans and property values. In the end all of it was based on debt. Debt packaged and dressed up became an asset to be bought and sold by investors. Eventually the debt reached a point in which it could not be serviced and the structure built on it started to collapse.

        It’s well beyond a liberal policy cause however anything that facilitated spending without having (or enticed others to do so) contributed to the mess.

    • Alex S.

      By the way, I think you should tax every Australian 20% more and send the money to the United States. I mean, if we are going to sit here and demand drastically higher taxes on OTHER PEOPLE, why not make it fun?

      Socialists like you never really get it. You can only tax the supposed “rich” for so long. What ends up happening is you continue to create a system where more and more people are on the welfare train, and less and less pay taxes.

      Eventually you run out of people to tax. Denmark is a prime example. It’s getting worse and worse there. Taxes are now over 50% on most Danes and more and more take from the system every year.

      The real solution is TRUE conservative values (not Bush), small government, less spending. Taxes aren’t the issue, spending is. Your beloved “stimulus spending” has failed miserably EVERY SINGLE TIME. It doesn’t work. Economies aren’t fixed by just sending free money out. They are fixed by creating an atmosphere for growth through stable, long term economic health, ie. less taxes on everyone, less burden on businesses, and smaller, cheaper government.

      • TrishfromDarwin

        Alex S.,
        There’s a lot in what you say that I agree with. But one of the aspects of this global argument is the way we all want to take the extreme view from either side of the political spectrum. My belief is that there is a more moderate, middle way. Of course we have to support enterprise and initiative, and less burden on businesses is definitely one way of achieving that – especially for smaller and start-up business, and business that is vulnerable to competition from third world countries that don’t protect their workers in terms of occupational health and safety, and where salaries are so much lower. But it doesn’t necessarily follow that small government is the answer. I think actually, that you’d find that conservative governments in UK, USA, Aust. and Canada have often had larger governments/public services than liberal govts. And when it comes down to it, it’s probably no so much taxing less, as preventing tax rorts by the larger firms and wealthiest people, who seem to pay next to nothing, compared with salaried workers and smaller businesses.

        And I’m not suggesting “free money”. What I’m saying is that, especially when times are tough, it’s up to the Govt. to take on large infra-structure projects that are needed to be taken on anyway, that the Govt. This could mean bringing forward future projects maybe, or investing heavily in schools, roads, hospitals, airports etc. What would Singapore be without Changi, or Hong Kong without its new airport and rail system, or London without its infrastructure spending? Of course these projects can be done by private companies too, but they rely on the profits coming in sooner, rather than later, whereas the govt. has other sources of income and can step in to create this wealth and opportunity in the knowledge that good, stable economic growth makes the country richer. And the more jobs and opportunity that results means less people on welfare and less welfare payments, etc.

        As for the cheap housing loans to people who couldn’t afford them, yes, that is the provenance of the collapse. But it’s not as simple as that, is it? What was probably a well-intentioned program to help people to own their own homes was abused by the agents who got commissions for selling the loans. This, of itself, resulted in a lot of people who were not at all financially secure getting loans they could never afford. It also played a large part in creating a market where, instead of wanting to build or buy houses within a reasonable size and price-range, people were encouraged to believe that they could have it all, and to re-mortgage when they needed more money!
        So it all went wrong. But even then, it’s what happened to the loans that caused the real problems. It was the bundling up of the loans and selling them off, and the ratings agencies ignoring the obvious pitfalls, so that these bundles were sold off globally. It was all just thin air.

        Well that’s how I see it, anyway….

  • http://carellaross.com Carella Ross

    #51 is the percentage of people who are STILL trying to justify these numbers away….seriously what kind of brain-washed sleepwalking LOSER does it take. THAT’s the most troubling one of all. I mean there’s some walking breathing moron in the comments above taking about the “benefits” of debt…& i’ll bet anything that idiot can’t even tell anyone about Thomas Robert Malthus. he was one who (pre-Darwin) 1st suggested that a food shortage wouldd be good for a utopian society because it would eliminate the weak. he also came up with another interesting concept = RENT & look how far it has devolved. The Rothschilds must be having nightly wet dreams.

  • luis

    people change your currency because we are near the end of the us dollar people please wake up the goverment want to get total control out of people so please wake up an have faith in god people an remenber the antichristis coming so be ready it is a new cycle coming 1212 it is not going to be the end of people but it maybe the end of freedom an more desater too but dont be scary GOD will proctect u if u repent from your sin people so repent remeber only UR FATHER GOD IS ARE ONLY HOPE

  • REED RICHARDS

    The masses in this asylum state do not understand:

    WITHOUT FREEDOM, THERE WILL NOT BE ANY PROSPERITY:

    Article done about a week ago which outlines how fascist asylum states of amerika gov’t is a police state akin to North Korea and passes law to allow military to indefinitely detain citizens forever without charge or trial, only 44 responses four of which are mine. This article, about one or two days old at best, already has 155 including this response which is only my first.

    What’s wrong with this picture people? It seems very few people understand that there can only be prosperity through freedom, not the other way around. Worrying about your pocketbooks while freedom is being ursurped is a losing proposition. But then again, amerika is full of losing propositions these days….

  • William

    There are four possible outcomes for America, two likely, and two unlikely:
    1) An economic miracle with decreasing unemployment, real GDP growth in the 3-4% range, or higher, mild inflation and a much reduced annual federal deficit…. HIGHLY UNLIKELY.
    2) A total collapse of civil society, with the inevitable police state crushing the civilians…. UNLIKELY.
    3) The US “puddles” along with stubbornly high unemployment, weak and anemic GDP growth, stunning deficits and debt and increasingly BAD inflation…. Very Likely.
    4) #3 above with STUNNING inflation….very likely over the next 2-5 years.

    • Rancher

      #4 Another war
      #5 War with Iran
      #6 No more money lent to the US
      #7 Massive natural disaster
      #8 Loss of faith in our hollow currency
      #9 Collapse of euro
      #10 Always expect the unexpected

  • http://www.thehomeforsurvival.com Survivor Mike

    #13 above is the reason I began preparing and started my blog.

  • gary2

    Lets just cut to the chase:

    The modern conservative is engaged in one of man’s oldest exercises in moral philosophy: The search for a moral justification for selfishness. (John Kenneth Galbraith)

    We all know this is true.

    • Alex S.

      Survival of the fittest is based on selfishness. It may not be ideal, but it’s the way the world works – from humans all the way to the smallest ant.

      The modern liberal is completely lost in a dream world and unable to grasp the stark realities of the world. They continue to spend trillions of dollars destroying society in a fight against mother nature, to prop up the weakest who will never truly make it anyways.

      Conservatives simply put the responsibility of survival, wealth, health, etc. on the individual. That you should stand up and fight for yourself, work hard, and actually be responsible… what an awful, selfish concept.

      • Gary2

        I believe that as humans we can move beyond the selfish survival of the fittest. We unlike animals have a soul.

        I do not see how anyone who is conservative can claim to be a Christian as the philosophy are not compatible.

        PS-I do realize most Christians are phoney!

  • Roman James

    Only somebody who is not smart enough to think on their own would fall for the fact that this is all because of Obama. Some people will understand that it takes a lot more to live now then it did when George Washington, Franklin Roosevelt or even Ronald Reagan took office. Also, policies/legislation enacted by an administration take YEARS to be fully realized. S@$# rolls down hill and so does the legislation of Clinton and GW. Much of the above may be documented facts, but it is far from being a result of Obama’s policies. Ron Palooka for President – yeah that’ll work!

    • Kevin2

      This is decades in the making predating both Clinton and GW (however Free Trade Industrial Evisceration and Banking Deregulation certainly was a catalyst). It can be reasonably argued that it goes back to at least 1971. The damage was done previously (as opposed to just laws enacted) but it was hid by increasing debt both public and private.

      The above being said nothing is being done to reverse the policies that created the damage and if anything they are being advanced. The solution to too much debt is not more debt. You can take it to “The Bank” (oops poor choice of words) that another war is around the corner too.

      The difference is their is no difference.

    • REED RICHARDS

      Roman James,

      And only someone with oxygen posing as brain matter would conclude that Obama shares absolutely “ZERO” responsibility for the mess that amerika finds itself in:

      While it is true that most of the programs and policies plaguing everything were in effect long before Obama came onto the scene, it is also true that Obama has done nothing “TO REVERSE THE CURRENT NEGATIVE TRENDS IN QUESTION.” In fact, he has turned up the heat and intensified the current negative trends that are destroying this place. This is what I fault Obama for. From Carter through Bush Jr. was the period where many of the policies and programs now in place were enacted. Other destructive policies enacted during the age of Obama are outlined below:

      Obama did vote for the first TARP Bailout of 2008 as a sitting US Senator from Illinois. He also voted to give telecom companies immunity for their spying on citizens at the behest of the Bush White House. Obama also voted for the 2006 or 2007 bankruptcy bill that cemented student loan debt as a permanent ball and chain (symbol of slavery) around the ankles of young adults. And now Obama has done the ulitmate: Signed into law a monstrously evil piece of legislation called the National Defense Authorization Act of 2012 which allows the military to indefinitely detain citizens and legal residents without charge, trial, or due process of any kind. Stimulus bill anyone? No jobs created there. Alternative energy funding anyone? All those government funded companies are now bankrupt. End to big to fail? Not on your life.

      IN A NUTSHELL:

      The Obama presidency has produced nothing but more civil liberties violations and police state power grabs, more wars, and more banker bailouts. That is essentially the essence and the sole purpose of Barrack Hussein Obama being in the White House. To tighten the screws and crush the citizenry via blunt law enforcement and military force, to start more wars and slaughter more people around the world, and raid and loot the treasury for more banker bailouts……………

      • TrishfromDarwin

        Reed Richards,
        Your ‘In a nutshell’ summary is pretty damming. My impression (from afar) has been that Obama’s administration has had to compromise itself to be able to negotiate its policies through Congress. But the NDAA (2012) seems unjustifiable. I hadn’t realised that it’s the military and not even just the police who can detain US citizens that way! What price freedom? Whatever view you take on Bradley Manning, the way he has (reportedly) been treated condemns Obama’s administration too, as a reputation deserved by Bush et al.

        The overall picture seems to be that it doesn’t matter who is elected, the MIC/banks are the ones who decide and implement govt. activity – irrespective of policy guidelines. It’s all so disillusioning. But Obama has to be the better option. If he had more voter support and less media-incited polarising hatred, fear and meanness, maybe he could make progress.

  • Brant Williams

    The problem is NOT the Federal Reserve, it is NeoClassical economic theory, which dominates academia, and policy. It does not matter what monetary structure you put in place. If policy it determined by people who follow fantasy theories which have no relationship to the real world, you are going to have a mess. This notion that the FED is the problem is dangerous. It is that all the people who run the FED, are Neoclassical economists!

  • http://goto.glocalnet.net/pdn/ Perdavid Nygren

    NESARA (National Economic Stabilization and Recovery Act). “Beloved Saint Germain” and “Saint Sananda Immanuel” (Omegans) will help you get your stamp on your forehead or hand. They WILL fix all economic trouble! They are playing “enemy of Illuminati”. Wow this was a crazy comment, no?

  • Tapper P.

    People cling to the problems being ‘Bush’ or “Obama’ because that means they have a choice in the process. You don’t. No US President has made an important decision in over 57 years. They are cardboard standees only, handed instructions by the euro banking elite families. Selected by them, not elected by the slaves.

    Politics, religion, economic class, etc are nothing more than systems of control based on lies to enslave you. To pit one against another in ignorance.

    While you are battling over these false unimportant systems the owners sit back and design your life.

    Whether GOP vs Dems, over Christian vs Muslim, Lakers vs Mavericks, it is all horsecrap.

    All false systems put in place to serve a purpose. To keep the human mind busy so you won’t focus on those that are controlling your life.

    Free your mind.

    • http://yahoo scout

      Tapper you are exactly right. We’re arguing over crumbs and they’re leaving with the whole meal. We’re ignorant.

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