The Beginning Of The End
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The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming

The people out there that believe that the U.S. economy is experiencing a permanent recovery and that very bright days are ahead for us should have their heads examined.  Unfortunately, what we are going through right now is simply just a period of “hopetimism” between two financial crashes.  Things may seem relatively stable right now, but it won’t last long.  The truth is that the financial crisis of 2008 was just a warm up act for the economic horror show that is coming.  Nothing really got fixed after the crash of 2008.  We are living in the biggest debt bubble in the history of the world, and it has gotten even bigger since then.  The “too big to fail” banks are larger now than they have ever been.  Americans continue to run up credit card balances like there is no tomorrow.  Tens of thousands of manufacturing facilities and millions of jobs continue to leave the country.  We continue to consume far more than we produce and we continue to become poorer as a nation.  None of the problems that caused the crisis of 2008 have been solved and we are even weaker financially than we were back then.  So why in the world are so many people so optimistic about the economy right now?

Just take a look at the chart posted below.  It shows the growth of total debt in the United States.  During the financial crisis of 2008 there was a little “hiccup”, but the truth is that not much deleveraging really took place at all.  And since the recession “ended”, total credit market debt has gone on to even greater heights….

So what does this mean for the future?

Well, if a small “hiccup” in the debt bubble caused so much chaos back in 2008, what is going to happen when this debt bubble finally bursts?

That is something to think about.

Sadly, most Americans seem oblivious to all of this.

If you go out to malls in the wealthy areas of America today, people are charging up a storm.  In all, Americans charged a whopping 2.5 trillion dollars on their credit cards during 2011.  Way too many people have already forgotten the lessons that we all learned back in 2008.

Of course some Americans pay off their credit cards every month, but way too many Americans are not doing that.  Today, Americans are carrying 793 billion dollars in revolving credit balances.

And student loan debt is an even bigger bubble than credit card debt is.  As I have written about previously, total student loan debt in America is rapidly approaching a trillion dollars.

So it looks like U.S. consumers have not learned to stay away from debt.

That is not good.

Well, what about the banks?

Has the financial system learned any lessons since 2008?

No, not really.

Sadly, the “too big to fail” banks are now even bigger than ever.  The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.  If they were to fail today, they would be even more of a threat to our financial system than they were back in 2008.

And our major banks continue to be very highly leveraged.  In fact, major banks all over the world are absolutely swamped with debt.

The following statistics come from Zero Hedge….

The U.S. banking system is leveraged 13 to 1.

The Japanese banking system is leveraged 23 to 1.

The French banking system is leveraged 26 to 1.

The German banking system is leveraged 32 to 1.

These are insane levels of leverage, and they are just inviting another major financial crisis.

Do you all remember Lehman Brothers?  The fact that they were leveraged so highly is what did them in back in 2008.  When the value of their holdings declined by just a little bit they were totally wiped out.

Well, during this next financial crisis large financial institutions are going to be wiped out all over the world.  Major banks all over the globe are going to be crying out for more bailouts when things take a turn against them.

They are making the exact same mistakes that they made before, and they are going to be expecting more government handouts when things go bad.

Will we ever learn?

So obviously the banking system has not learned any lessons.

What about the federal government?

Well, if you follow my blog regularly, you know that I love to write about how horrific U.S. government debt is.

Unfortunately, over the past four years things have gotten so much worse.

Back in 2008, the U.S. national debt crossed the 10 trillion dollar mark.

Just recently, it crossed the 15 trillion dollar mark.

So now we are in a much weaker position financially to respond to another major financial crisis.

Just check out the chart posted below.  This is a recipe for national financial suicide….

During fiscal 2011, the Obama administration stole close to 150 million dollars from our children and our grandchildren every single hour.

At the moment, the legacy of debt that we are passing on to future generations is sitting a grand total of $15,351,406,294,640.49.

But keep in mind that it is going up every single hour.

Meanwhile, our ability to service that debt is declining.  We are rapidly getting poorer as a nation.

During 2011, the amount of money that left the United States exceeded the amount of money that entered the United States by more than a half a trillion dollars.

This gap is called a trade deficit, and it is absolutely ripping our economy to shreds.

For a moment, imagine Uncle Sam standing next to a giant pile of money on a map of the United States.  Then imagine a half a trillion dollars being taken out of that pile every single year.

So why haven’t we totally run out of money yet?

Well, it is because we borrow those dollars back.  In order to maintain our false standard of living, our federal government, our state governments and our local governments have to go out and beg the rest of the world to lend us our dollars back.

Sadly, our government schools have “dumbed-down” the population so much that most of them don’t even know what a “trade deficit” is anymore.

Meanwhile, our economic infrastructure is being gutted like a fish.

Look, I know that I go over this point over and over and over, but it is absolutely imperative that we all understand this.

The half a trillion dollars a year that leaves this country every year could have gone to support businesses and jobs inside the United States.

But instead it is going to support businesses and jobs on the other side of the world.

The consequences of this are absolutely devastating.

According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities a day closed down in the United States during 2010.  Overall, more than 56,000 manufacturing facilities in the United States have shut down since 2001.

Even many so-called “American companies” have been bought up by the rest of the world.  The following comes from a recent article posted on Economy In Crisis….

RCA is now a French company, Zenith is a Korean company. Frigidaire is a Swedish company. IBM’s Personal Computer Division—with its 500 patents—is now a Chinese company. Westinghouse Nuclear Energy’s major shareholder is Toshiba—a Japanese Company. Lucent Technologies, a former research division of AT&T, along with all the patents acquired from the beginning of the phone system, is now a French company. In 2008, Brazilian-Belgian brewing company InBev purchased the iconic American brewer Anheuser-Busch, makers of Budweiser. With the sale of these manufacturing companies, the future profit and technologies all belong to foreign entities.

We once had the greatest economic machine in the history of the world.

Now it is being dismantled and bought up by foreigners.

When America’s economic infrastructure declines, that means that there are less jobs available for all of us.

As I wrote about the other day, the employment situation in this country is not getting better and we have never even come close to recovering from the recession that started back in 2008.

During 2008 and 2009, the U.S. economy lost millions of jobs.  Since the beginning of 2010, the percentage of the U.S. population that has had a job has remained very stable….

Normally, when a recession ends the percentage of Americans that have a job bounces back pretty dramatically.

So considering the fact that the employment situation has never recovered from the last financial crisis, what is going to happen when the next financial crisis hits?

And most of the jobs that have been “created” during this so-called “recovery” have been low income jobs.  In fact, if you look closely at the employment numbers that were released last Friday, you will find that the vast majority of the “new jobs” were part-time jobs.

But you cannot pay a mortgage and support a family on a part-time job.

Sadly, the truth is that median household income in America has been steadily dropping over the past several years.  Tens of millions of American families are deeply struggling and more Americans than ever are falling into poverty.

Back in the year 2000, about one out of every nine Americans was living in poverty.  Today, about one out of every seven Americans is living in poverty.

All of this is causing a great deal of anxiety in America today.  Large numbers of Americans know that something has fundamentally changed, even if they don’t understand the specifics.  That is one reason why sites such as this one have become so popular.  People want some answers.

And once people get some answers about what is really happening, they tend to want to prepare for the hard times that are coming.

In a few days, a new series on National Geographic entitled “Doomsday Preppers” premieres.  The mainstream media is starting to take notice of the growing “prepper” movement in America today.  It is estimated that there are at least 2 million “preppers” in the United States at this point.  Of course people are “prepping” for a whole host of reasons, but the number one concern among most groups of preppers is the economy.

As the economy crumbles, more Americans than ever have decided that it is not a good thing to be 100% dependent on the system.

Back in 2008 and 2009, millions of Americans suddenly lost their jobs.  Because they did not have any finances stored up, large numbers of them also lost their homes.  Many went from being solidly middle class to being out on the street in a matter of months.

That doesn’t have to happen to you.  Instead of blowing your money on frivolous things, do what you can to set something aside for the difficult times that are on the horizon.

A lot of those “in the know” are quietly making their own preparations.  For example, legendary film director James Cameron (Avatar, Titanic and Terminator) has purchased more than 2600 acres of farmland in New Zealand and he is getting out of the U.S. for good apparently.

Unfortunately, most of us do not have the resources for something like that.  But what most of us can do is we can change our priorities and start focusing on the things that will help us survive the hard times that are coming.

So are you ready?

  • Rodster

    And so it begins………

    “Greece takes step closer to default”
    http://www.ft.com/cms/s/0/cf397bb8-5003-11e1-8c9a-00144feabdc0.html

    • bongstar

      Yes it dose its going faster than ever. again remember the Fed was created to swallow the competition in the banking market. This is why the banks are more powerful than ever, and the six banks that michael speaks of are shareholders in the Fed. Kensian economics, fonded by jhon maynard kyenes one of the founders of the Fabian Socialist movment, never allows a deleveraging period or deflationary periods. It is a game that ends in hyperinflation, and well intentionaly. you see the Fabian socialists want a new world order and world wide socialism, and they have infiltrated our government and our universitys that is why kensian economics is the main type of economics tought in our universities. The kensian end game is at hand!

    • Bone Idle

      The Greeks will never agree to tougher austerity measures. The unions won’t allow it and neither will the politicians other than those technocrats appointed by Brussels.

      Even more austerity measures will drive the country deeper into depression and higher unemployment.

      The conditions the lending banks wanted as part of the haircut agreement cannot be met.

      More austerity cuts will bring the population out onto the streets – and not just the usual suspects.

      • BenjiK

        Agreed, it’s the old “damned if you do, damned if you don’t” scenario.

      • REED RICHARDS

        Bone Idle,

        The Greeks have no choice in the matter. Austerity is here to stay and Merkozy has spoken. Any further defiance on the part of the Greeks and severer punitive measures will be taken against them. At this point the only sane, rational decision that the average Greek citizen can arrive at is fleeing the country, and fast……………

        • Ben Dover

          Austerity will come to Greece (and USA) one way or another.

  • Rodster
    • http://www.youtube.com/thepreparedpastor Prepared Pastor

      Don’t quit your day job, but start living a double life. Weekdays, be a responsible consumer parking your late model car in the attached garage with an underwater mortgage.

      Spend weekends driving your old diesel pickup to your off-grid retreat and get it ready for full-time occupancy so that when your job vanishes, so can you.

      If money made people happy, so many celebrities wouldn’t be on drugs. Learn how to be content with as little cash as possible. Many people in third-world countries are happier than us.

  • Ken nohe

    It is quite amazing indeed to be up there in impesenteur at the very top of the ballistic curve. It feels good and unnerving at the same time, with this strange sensation that it cannot last. We failed injection into orbit and it looks like a long way down back to earth. A couple more month up there, then buckle your belts. It’s all been slow motion until now but speed is coming back!

  • Lennie Pike

    It was derivative cds debt in 2008 as it is now – here and in Europe – not government debt and consumer debt.

    Reign in these pathological gamblers and the problem has a small chance of being solved – it’s just that there is no chance of reigning in these psychopaths due to the ignorance and apathy of the average idiot – those who pay for the bailouts through inflation with their labor.

    Glass Steagal has to be rescinded.

    More urgently – the spraying of the world’s skies needs to be forced to come to an end – satan is having a field day and no one is even noticing – look up!

    • bongstar

      not sure how acurate the number is but ive heard recently that the dirivitives market has reached 1.4 quadrillion!!!!!! yes i said quadrillion. is all we can hope for is a major deflationary trend ater the coming crash that will be painfull but will allow the dollar to survive. but i think that is being optomistic, its more like hyperinflation till they starve us into submission of the world currancy. either way we have to pray an prep!

    • BenjiK

      In researching derivatives, and more specifically the “Plunge Protection Team”, I came across this explanation:

      http://www.rense.com/general52/secretsoftheplunge.htm

      A very interesting read…..

    • John W.

      Glass Steagal was rescinded. That is what helped get us into this mess. Or did you mean reinstated.

  • William

    You, American citizen, are already being brainwashed for this coming war. Did you ever wonder just HOW a country with an annual federal deficit in excess of ONE TRILLION DOLLARS could continue more wars???

    • Paul

      Just make more wars. Next: Syria, then Iran, then North Korea.
      Well, that is if the US still have enough oil to power their airplanes and ships and tanks. And enough food to feed their soldiers.

      Or money to buy that stuff.

      If people have USD, they will buy American real estate. Maybe Russia will buy Alaska back, Mexico will take Texas and France Louisiana?

    • bongstar

      brain washed!!!!!!!! ha, guy i know what going to the fullest!

  • Observer

    Well, I would write something but then it might not be posted, so why bother.

  • CitznKate

    Here is the URL of a useful article on basics of preparedness:

    http://www.backwoodshome.com/articles2/lewis133.html

    Prepare for the most-likely emergencies first (hurricane preparedness in a low-lying coastal area; earthquake preparedness in an area located near a major fault; wildfire preparedness in an area bordering on a large tract of heavily forested land; extreme weather preparedness where blizzards or ice storms have been known to paralyze an area for weeks). Develop bug-in and bug-out strategies, and identify triggering events. Hint: the triggering event should prompt you to act significantly BEFORE everybody else panics and jams all routes leading out of the area. If you leave early and the emergency turns out to be less severe than you anticipated, this would be no tragedy and it would be preferable to having waited too long to take action.

    • MisterC

      How about a whole website on preparedness,
      http://www.survivalblog.com
      This site is a goldmine for info about almost anything survival related.

    • Paul

      My mom has still self-made jam in her basement from 1999. And it still tastes good. The only bad thing is, you need to be a body builder to unscrew the tops.

    • Kathy Smith

      Thank you for the info excellent article

    • BenjiK

      I’ve been a subscriber to Backwoods Home for a few years. It’s an excellent magazine with very informative articles. I would recommend it to anyone, regardless of their position on “preparedness”. It’s an invaluable resource for anybody who has interests in gardening, sustainable lifestyles, food preservation, etc…

  • Ameen

    As usual, powerful, true, and a total wake-up call!

  • mark

    I don’t know if a collaspe will happen soon or much later. But I do know that we will do more work each month to make our lives easier when it does happen. There are more than 2 million preppers around. I know that when it hits the fan that we can help out our neighbors. We will continue to stock up and will give what we can’t rotate to others and then buy more fresh stock. This way they can start to store for themselves and there will be less pressure on our storage. Food and water are the most important storage items to help others in a time of need. Hungry people can get real ugly real quick. You will also need to have the tools to protect your family and supplies from outright mean people.

    • Barn Cat

      I’ll be donating my expiring dry cereal to a food bank.

    • Rancher

      You give you out of date food to others that know you….?
      Then they all know you hoard? Good move smart guy.

  • El Pollo de Oro

    Economist John Williams (Shadow Statistics) has been saying that the REAL unemployment rate in this country in December 2011 was 22.4 percent. In other words, the economy in The Banana Republic of America (formerly Los Estados Unidos) is comparable to the economy in Spain, which has the highest unemployment in Western Europe. Economic recovery? Yeah right! There is no “recovery” for the BRA, only widespread misery as this Ponzi scheme continues to fall apart and the BRA continues to slide deeper and deeper into Third World misery. These are incredibly dark times for The Banana Republic of America.

    • Rick L

      Shadow Statistics is a great site. Thank you for sharing.. Rick, Montana.

  • McKinley Morganfield

    Many EU nations must roll over hundreds of billions in bonds this year, so I believe this summer will herald the start of the panic as central banks in the EU falter. This will in turn topple banks around the world as the global banking/financial system is thoroughly integrated. Sovereign nations,states, provinces, municipalities, and big banks will no longer find buyers for their bonds at interest rates below suicide. This is coming.

    China is buying and storing commodities by the billions each and everyday. I suggest we peasants to the same by stockpiling the basics survival to the best of our ability and seek common cause with family, friends, and neighbors.

  • Rancher

    Good review Michael… What more does one really need. If you are a serious person willing to just about whatever is needed to prepare for most any disaster then visit preppergroups.com

    Actually doing something to really set up a real plan is not easy so… this site is not for talking heads, armchair posters and entitlement minded folks.

    After a while posting endless comments here will do nothing for you.

  • r.bitting

    The only hope for America is to return to the God of the bible, the one and only God, the God who made this country great. If the people will not repent of their sin and turn back to God, they will be judged, both collectively and individually. God will is that all be saved, but there comes a time when God’s patience will end and his wrath will begin. Please get alone with the Bible and spend some time in his word. Read the New Testament. Examine the claims and the teachings of Jesus Christ. Christ died for all, so that Gods righteous requirement of justice be met, that all who would except Jesus Christ as their Lord and savior would then become righteous in God’s sight, your sin would be forgiven and God would place his spirit within you and consider you his child. The Bible states that when a sinner repents, the Angels rejoice in heaven. The Bible also states that eye has not seen, nor ear heard, nor has entered into the heart of man what God has prepared for those that love him. Don’t you want to have the assurance of knowing that God considers you righteous, that God is at peace with you, and that your name is written in Heaven. Of course you do, but you must lay down your pride and humbly accept that you have sinned against God and are unable to provide your own righteousness. You need to ask God for forgiveness and for mercy, trusting in Christ’s death on the cross to attone for your sin. Acts 2:38 ” Repent and be baptized every one of you in the name of Jesus Christ foe the forgiveness of sins and you will recieve the gift of the Holy Spirit “. God desires that you be reconciled to him, but there is only God’s way, you cannot do it your way. Instead of complaining to God that there aren’t two doors leading to heaven, thank him that he was merciful enough to provide one. Luke ch. 15 tells the story of the prodigal son. If you truly want to see the heart of God for the lost to be saved, read it. Please don’t reject the love of God, because the judge is at the door. I will pray that at least some will turn to be saved. No man would have ever devised such a path to salvation as the one found in Christianity, because if man had devised the way it would have taken the path of least resistence, and it would not have confronted mans depravity , but rather, accepted it. It’s one of the greatest single indicators that the bible was inspired by God himself and not man. Man’s plan would have man as the captain of his own salvation and not answering to God for his sin. Does this sound like you? Please consider the Bible’s claims. God bless you people.

  • VyseLegend

    Great time to post this – right as hoards of the same feckless Americans you speak of are fawning over the spectacle of the Superbowl. Lets not kid ourselves – this is not about football anymore than Gladiator fights are about martial arts…its time to wake up America.

    Or maybe its just too late and we have to stop trying to wake up those who are willingly drinking the Gub’mint Kool-Aid. The charts on the national debt and trade deficit are so sad that it is actually comical. I can’t believe this can continue for long, and I can’t believe anybody buys the mainstream proclamations of recovery…

    My advice, steel your soul.

  • Ryan

    Very good article that wraps it all up in to one nice depressing bundle. When will people get it?!? Please continue to keep up the great work and thank you for the time that you spend on it.

    • Rancher

      Rtan,,,

      The sad truth is 98% of this country either can not afford to correctly prepare or…will not.

      We all including myself, find ourselves where we are now and someday where we will end up as the direct result of our choices in life. It is called personal accountability and no one can or should make up for the results of said choices.

      I call those who for whatever reason (I do not care what it is)… victims waiting to happen. If you do not make it happen now you will have a lot of company.

  • Terry

    I live on a poverty level income. How can I possibly prepare? It’s not as if I have disposable income I could sock away if I only cut out frivolous spending.

    • mondobeyondo

      Do the best you can with what you have.

    • McKinley Morganfield

      Beans, rice, canned vegetables, and canned fruits are not that expense at discount stores such as Aldi’s. Set aside 5 or 10 dollars worth every week and within a few months you have enough to survive independently for a few months when TSHTF. Save empty containers, wash them thoroughly, and store water. Keep a gallon of bleach on hand to purify more water as needed. Its as simple as that

      • Ben Dover

        If you have small kids, apple juice bottles are quite sturdy.

        • Ben Dover

          A 50# bag of dry rice at Sam’s is about $17.

    • Barn Cat

      Look at what you can sell on Craigslist or eBay. Use the money to buy beans and rice.

    • http://www.srcareers.com Leah

      Terry, why not earn your food storage? Check out the folks at http://www.srcareers.com. You can help others get prepared and earn a commission as well as free and 1/2 price food.

    • Orange Jean

      Just remember, knowledge is power. Check out the library for info.

      If you have a house (own it, or can get permission from landlord), dig up and plant yourself a garden.

      Even if you live in an apartment in a city there is usually someway you can garden a bit. Years ago, I was a dirt poor single mom, living in a third floor apartment and I started a little garden out on the roof of the porch. I used large plastic tubs (about 10 gallons) which I begged off my local Dunkin’ Donuts… they were leftover containers that used to hold jam. I drilled a number of holes in the bottom (started with nail and hammer, used a screw driver to make them a bit bigger), and filled the pots with little layer of rocks, then soil I got from a friend who had a garden. I used cleaned leftover milk cartons to haul water from my sink to the pots when needed.

      Seeds are pretty cheap, compared to cost of food… and I successfully planted cucumbers, zucchini, and a few other things. Not everything worked, because not too many bees got way up there… but it’s an adventure and an education in prepping. (OK, my wild raspberry experiment on the 3rd floor was a flop, but I didn’t know it takes 2+ years for them to bear and I wasn’t hand pollinating which I should have.) If you get open pollinated seeds (not hybrid) the next year you can save seeds from your plants and replant and not have to buy them. I propped the filled pots on 2 old bricks I found out in a ditch so they’d drain better.

      I used to live near Cambridge MA, and one of the more innovative gardens I saw was planted by some Asians, I think Vietnamese. It was in a bad part of town, so nobody cared… they dug up the strip of dirt between the gutter and sidewalk and had all kinds of things growing like crazy there. Many cities also have urban gardens and let people grow things in vacant lots.

    • Jeremy

      Though it may sound obvious, put your trust in the Lord. Only He knows what will happen. The scriptures states that the hearts of men will fail in the last days, but that those in Christ should wait patiently for His coming, and also to live our lives. Rationally, God does not intend everyone to “hunker down” and prep for the coming apocalypse. What He does command us to do is confront these times with courage (James 1). Don’t let this site be your only version of news. God may lead you differently. Me, for example, live on a poverty level income right now. I have prayed for years on what to do with my time and money. God knew, for example, that this crisis would come, yet laid the path for me to attend law school. Not prep. Right now He has laid the path that I may work, network, interview, sharpen my legal skills, and save for the bar prep course. Once again, not prep. It is easy to say that everything is going to hell (and it just might), but have a little faith in people, and of course, in God. God be with you, and don’t allow the overly pessimistic miserable to sway your direction and determination, even in these times. Stay vigilant, but also keep heart and the faith. These websites are usually breeding grounds of incessant negativity and lack of faith, and though God may have called Michael to have this sight (as the prophets in the Bible), always be discerning what you read (the choice of content and how it was framed, for example).

    • cathy

      Terry, Do your best and I believe God will multiply what you have if you trust in Him, just like in the Bible when he multiplied the bread and fish for those who believed in Him. Store what you can and then pray and trust.

    • http://earthypoetgrrl.wordpress.com/ Beth

      Don’t forget to always have a well-stocked medical chest. Alcohol, peroxide, aspirin, and learn your local plants.

  • http://worldendsat5newsat11.blogspot.com Tony Lamb

    I really feel that in 6 to 9 months we will be eating our pets, sitting around a campfire and wondering where the good times went.
    See how to survive an Economic Collpase at:
    http://surviving12-21-2012.blogspot.com

    • a better way

      You must not have pets. Most preppers have also prepped for their faithful friends, as we have. My dogs are protectors, comforters, and family members. They will not be eaten.

      • Rancher

        Right on and they will not be sitting around the campfire either. The wild dog packs will have killed them long ago. Our critters will eat well and we might be feeding them some local dogs cut loose after their food ran out as well. At least the chickens will enjoy some fresh meat….

      • Greg

        Your comment is spot on!

  • Patriot101

    My girl and myself have been prepping for 2 years. We can now live off the grid for 3 years or longer. Food, water, power issues have been taken care of, even home defense if TSHTF. What amazes me are the number of Lemmings that would listen to the crap that the UN and globalists are telling us. I pray more people start to wake up to the danger we face. Why would any sane human listen to the people that run the show? We must always question POWER, ALWAYS.

  • Patriot101

    As for me I would rather be controled by the direction of 300 million than a handful of the rich and powerful. The power belongs to the people. Centralised control never works, look at history hlease. At leasted that used to be the way in the USA over 100 years ago. Now it’s a joke.

  • Patriot101

    PS. sorry for the errors in spelling, I just got back for a supper bowl party!

  • mondobeyondo

    If this were 1962, I would have argued that the U.S. had way too much in its advantage – no chance of an economic catastrophe. It could never happen. We were a superpower! (and we still are, or maybe not, depending on who you talk to.) 50 years ago, our debt was peanuts compared to what it is now. Elvis Presley and Frank Sinatra could have paid off the full amount. We even dreamed of putting a man on the moon!!

    Unfortunately, it is now 2012, and Michael is correct. We are broke. Don’t fool yourselves. $15 trillion in debt and counting, means you’re broke. Instead of building space stations and missions to Mars, we build bridges to nowhere. We’re lucky to be able to keep the lights on at the Capitol at night.

    2008 was just the warm up act. You better prepare for the main event. It will not be pretty.

    • mondobeyondo

      From the mountains, to the prairies,
      to the oceans white with foammmm..
      (and to the people in Denver, Colorado
      buried under 2 feet of snow
      and to those poor folks in Omaha, Nebraska
      who are about to get slammed big time
      but that doesn’t rhymeeeee)

      God Bless America, my home sweet homeeee…

  • REED RICHARDS

    Michael,

    I like the new look, Michael. Spiked Hair? Fits your personality to a “T”……………….

    • Michael

      LOL – that is not me. :)

      Michael

      • REED RICHARDS

        Michael,

        How about a new citizen army to challenge the new world order, called the “Spikers”……..

        You are Commandant, and this guy could be your first recruit.

        Wouldn’t the FBI get an absolute kick out of this idea………….?

        • Michael

          LOL – I am not recruiting any army. :)

          Michael

          • r.bitting

            I’m not recruiting any army…. yes you are.

  • mondobeyondo

    Uh, you forgot about the interest. You have to pay interest on that $15,000,000,000,000 debt. (What?! You thought there would be no interest?!?! Ha ha! You are taking out a LOAN, borrowed against foreign governments. Of COURSE you have to pay interest on that loan! It’s not like it’s an international grant or something.)

    We’ve been rather lucky. Interest rates have been scraping the bottom of the barrel, close to zero percent. It will not stay there; they are going to rise eventually. It’s inevitable. Just wait till interest rates rise. When they do (and they will), you will see Fear like you’ve never seen before. Even Frankenstein will be scared.

  • HAHAHAHAHA!!!!!

    HAHAHAHAHAHAHAAHAHA!!!!!!!!!!!!

  • bongstar

    dont forget about qualitve easing! yes thats right not quantative qualitve. this is when the fed allows banks to pledge potentialy toxic mortages at there face value not there current value, for asset backed securitys or hard cash latley mostly cash to bolster there reserves. this is the eqivilent of you pawning something of value to pay the bills, its the banks last desperate acts. this only give the fed the ability to own all property that has been forclosed in the USA, no big deal! if i need to spell out the extreamly destructive desperate and volitil nature of of qualitve easing im sorry i dont have the time to get into it but it is basicly one of the last steps before full melt down!

  • luis

    Free man u are an free man u will be so man up spartans preapared for battle AMERICAN FIGHT !!!!!!!!!!

  • Craig

    Well, there are many people that are out on the streets right now. They make it. I mean they just survive, but they are able to stay alive. I agree that it would be good to prepare now, so that we would not have to be homeless. Being homeless is a very hard life. I pity these people.

    Did anybody see how jammed the grocery store and WalMart was today before the Super Bowl? It was busier than anytime of the year. This is how most of us are preparing–not until the very last minute.

    IMHO, I as a Christian man will have to put my faith in the Lord to help me through. I don’t know how much I’m able to prepare given that I haven’t worked in a long time. But it would certainly be wise to prepare. This recession isn’t real to the 6-figure and 7-figure media people and politicians. They can’t really empathize with it, and that is why they are really only giving it lipservice–with the exception of a few people like Rick Santorum and Dylan Ratagan is doing a “30 million job” program about how to restore jobs in America.

    I think I may post a link to some of the pics I’ve taken over the past 8 years or so if the owner permits. Here is one of rave kids at the park in Bellevue, WA in 2006. You think these guys are prepared? I always thought that girl on the left was a cute girl.

    http://www.pbase.com/craig_c/image/65820823

  • pete

    yer we got it made in the shade here in down unda

  • Craig

    Homelessness gallery that a fellow on my photo share site did. There is a caption about their story below the picture. What a horrible life. These people must believe that they are not loved–by anybody including God Himself. I would hate to wind up here, and I could easily be one of these people except for the grace of God.

    http://www.pbase.com/stevehuff/the_homeless

  • Paul

    We were learning in school 30 years ago that the financial institutions eventually take over power in capitalism.
    Even the employees organise their work and work hard, the dividends go to financial shareholder who do nothing for the success of the company, and who often do not even understand what the company is doing.

    And in socialist countries everyone knows by heart not to trust the state or rely on the state 100%.

    Looks like you have a steep learning curve ahead.

  • http://windturbinescost.info Wind Turbines

    The jobs that are being created are minimum wage.

    They are incompatible with survival in a country like America because America is not freaking Pakistan but is indeed a very expensive country to live in. You can’t live here on $8/hour. The cost of all goods and services is very high. The disparity between what people make and what they can afford is growing.

    • DaytoDay

      I’m glad somebody got it…

  • Big Dave

    Sometimes there are two of me-one who sees this economic madness can’t go on forever and one who foolishly thinks it can. Either way I am preparing. The LDS were the first preppers (next to Joseph of old of course). :)

  • http://www.YouTube.com/thepreparedpastor Prepared Pastor

    2008 was not that bad for me. I lost my job, but got 99 weeks of unemployment during which I sold my house and bought some wooded acreage where I built an off-grid cabin while looking for work.

    My unemployment benefits expired by the time I found a six month temp job, but because I have no house payments or car payments I have been able to get by. Now I am saving half my income until this assignment is over and I will be on Unemployment again.

    It is not true the one cannot make mortgage payments with a part-time job. The only rational reason for buying a home is that it is cheaper than renting so unless someone overbuys they can make small mortgage payments if every adult in the family has a part-time job and no consumer debts.

  • Bob K.

    Wow! Staggering realities. I want to say that one of the very best ways to prep for what’s coming is to build community. We live out in the boonies of NC, but there are enough people on our road to form a small community of people helping each other, looking out for each other!

    The small town I came from in NY has about two thousand citizens living in close proximity in a beautiful valley at the head of one of the Finger Lakes. The potential is there to more than adequately take care of each other by pooling talents and resources. This will help take the pressure off of systems. We should come together in communities not only to survive, but to prosper in the midst of it all!

  • Barn Cat

    Great article but some of your numbers are wrong. America has 300 million people. We’re not carrying 794 MILLION in credit card balances. Maybe it’s supposed to 794 BILLION.

    • Michael

      Actually you are right.

      Sorry about that.

      Michael

  • Syrin

    The only surprising stat is that our banks are only leveraged 13:1.

  • Cinderella Man

    Twice in one day Im pissed off at the govt. First they bombarded the ranch with chem trails then I find out that a welfare mama who lives in section 8 housing and gets food stamps is going to be getting 8000 back thanks to earned income credit!! And she planning on buying (no suprise) an $1100 flat screen tv! Why do I work? As for bing like 08 the Giants win again, and now all we need is the Lehaman moment from Europe and re-election of Barry and is 08 re-run all over again!

    • Tim

      I understand your anger over chemtrails. I live in the Southeast, and lately the incidence of chemtrails has increased. I like to hike on Saturdays, but I’m afraid to go outside when there are chemtrails in the sky because I don’t want to breathe that stuff. I feel like a prisoner.

  • Morpheus

    You got that right. But this much bigger than corruption and banks. You have to be an idiot to think you can change anything by moving money around or electing a different president. Wake up people. We don’t have much time to keep screwing up.

    FIGHT THE CAUSE – NOT THE SYMPTOM
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

  • Stuey

    Good article.

    But one thing is a little misleading about it. Although we do borrow from other countries, most of our debt is funded by the Federal Reserve. I seen an article last week that said the Federal Reserve held 6 trillion of our total debt, compared to China which holds little over 1 trillion.

    Of course, the Federal Reserve has the power to “print” more Federal Reserve Notes electronically or literally(so called US dollars) and buy all the debt they want.

    So what will the Federal Reserve do to the American citizens when they can no longer pay back this debt? What will they want or take in form of payment when it all collapses? Will they just forgive us of all the debt? I doubt it.

    • bongstar

      you are right no one mentions the Fed!!! they are truly at the heart of this. If you havent yet please read the creature from jekle island by G Edward Griffen. it explains the And reaveals the true intent of and the operating mechanics of the Federal Reserve. it will blow your mind.
      I put a comment on here about Qualitive easing, yes thats right not quantative qualitve. this is when the fed allows banks to pledge potentialy toxic mortages at there face value not there current value, for asset backed securitys or hard cash, latley mostly cash to bolster there reserves. this is the eqivilent of you pawning something of value to pay the bills, its the banks last desperate acts. This only give the fed the ability to own all property that has been forclosed in the USA, no big deal! If you have paid attention to greece they have been puting up govornment property as collateral to the banks. This will happen here soon, so the govornment can keep up there outrageous spending and unsustainable life styles. This is what the fed will do more of as the dollar becomes crap! This way they can take the assets that have been pledged by the banks and govorments, so when everything is restructured they will have a massive ledger of assets no matter what the currancy revaluation is. Remeber the only reason the ECB wants to bail out greece is to keep there intrest on the loans being paid. it has nothing to do with keeping the world economy together. bailouts cost tax payers not banks.

  • knightowl77

    Michael you have been preaching to the choir for awhile now….If the sheeple aren’t awake now, they won’t be. Especially after they hear Obama and all the talking heads on the government run media say that the crisis is past and we are in recovery….Great article though.

    • Michael

      They say that someone usually doesn’t learn something until they hear it 7 or 8 times.

      And since the mainstream media endlessly pumps propaganda into the minds of the American people it may take 70 or 80 times.

      So we will all have to keep hammering away. :)

      Michael

      • gary2

        that is why I keep saying we need to tax the rich and spread the wealth.

  • Abby

    I am guilty of using credit cards. My purchases are new shoes for growing kids, (other clothing items are purchased through Goodwill) and paying medical bills for myself. Thousands of dollars of medical bills. Oh, and gasoline & car repairs so I can get to my part-time job & the doctor. I know I’ll never get ahead – but I’ll get everyone paid off eventually – or die trying.

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  • Jake

    Michael, it was good to open up the ETF Daily News this morning and find this blog post. The more you can get this word out the better.Keep up the good work.

    • Michael

      Jake:

      Yes, I am so honored that so many other sites pick these articles up.

      And I am also thankful for those that post these articles on Facebook, Twitter and vote for them using Google+. When readers take a few moments to do that, they partner with me in spreading this message.

      Michael

  • http://economiccollapse jackier

    Just read an article on all the businesses and banks that invest in treasury bonds. They include our credit unions and especially everyones pension systems. When the US falls it will take everything with it. There won’t be anything to depend on after.

  • Craig

    I read a book by Christian author Larry Burkett around 1989 or 1990. The title was “The Coming Economic Earthquake”. At the time our national debt was small compared to what it is today. But I do remember that Burkett said the earthquake would happen when the national debt got to be around 16 trillion or 17 trillion. Does anybody remember that book? It is out of print now.

  • karen

    And the gov is getting ready to pull the rug out from under food stamps and welfare in general. The article is on alex jones web Food Stamp Fraud Targeted As Election Season Brings Criticism.

  • http://TheEconomicCollapse Dave of OK

    Y2K was a non-event because enough people got the word and were able to prepare, could the same thing be happening with the debt bubble. More and more people realize something is not right in the world and are preparing the best they can. The Greek problem has been two years in the making, so many banks and financial institutions have been been isolating and insulating themselves from the problem, that when the Euro does unravel, the U.S. is not going be taken down as much as the doomsday folks are envisioning.

  • Patriot Alice

    Greece is a good example of our own future…They will default, have their own currency, devalue, print, and better able to trade with the world….Not bad…As far as our huge debt? We can inflate our way out of the debt, the only draw back is that most people won’t be able to keep up with the devalation of the dollar, and fall in the despair of poverty..There are no easy solutions, it’s the end of the world as we’ve known it…Nobody will make the budgetary cuts necessary to correct our excessive spending, so what do you expect?

  • Max

    Excellent post. Your site is one of my bookmarks under required daily reading. Very sobering. The globalist banksters have been after our republic since the first Revolution. They succeeded in the bloodless coup of 1913. (G.E.Griffin/The Creature from Jekyll Island) Since then our demise was a fait accompli. I believe as the engineered implosion of the economy accelerates, most Americans will continue live in blissful ignorance. A post-industrial America will be one of continued decline in living standards, medical care, and education. The treasury has already been looted, so there’s not much left of American wealth except our resources, and our willingness to keep paying our overlords in “taxes”. I advise all to become involved in local communities/governments as much as possible. Move out of major metropolitan areas if at all possible, even if a decrease in earning power is a result. Remember the parable of the bundles of twigs… one twig breaks easily….many twigs in a bundle becomes more difficult. Resilient communities are manifest all over the country. Read read read prodigiously, and take action daily, however small. Practice by turning off the main electrical breaker for 12-24 hours, and then thinking about your immediate needs.

    Think about the different threats to your safety. I think first about economic, and all its implication, which will precede others. The collapse may manifest in a series of events, or multiples at once.
    (A bum rush, designed to disorient) I do not believe they want chaos, but a false flag blamed on Iran/Pakistan/Tea Parties may be used to justify martial law. They will use our “patriotism” against us, as good ole boys and yuppies rally round the flag. The war drums are beating, and once that genie is out of the bottle, all bets are off. Russia and China may become involved. 6-10-15 dollars a gallon gas is conceivable in the next war, along with rationing. Since petroleum products are a multiplier, do the math. The shock to the economic system will be devastating, and societal upheaval will be like bad movie. The seething discontent of the entitlement class will manifest first in inner city riots. The banksters already have their offshore havens, and once the gene pool has decreased, they will come in to pick the carcass clean.
    Besides preparing, I intend to peacefully resist. I will be a Ron Paul delegate in my state. I call talk shows, talk to anyone who will listen for 5 minutes, and have a list of websites printed on 3×5 cards for the uninitiated. (This site is one of them) Resistance is Victory.

    I have sworn upon the altar of Almighty God, eternal hostility against every form of tyranny over the mind of man. Thomas Jefferson

    • bongstar

      ahh so you have read the creature!!!!! definaly an untold wealth of knowledge, i belive every one on this site should read this book. it makes everything vry clear. most people understand that things are going down the drain the just dont understand the true mechanics behind it.
      Nice Jefferson quote.

  • That Sojourner

    For those like James Cameron, who think that leaving the country will keep them safe, think again.

    The underclass of those countries that you run to will make you a target as soon as their lives start to deteriorate.

    They will be on the hunt for the rich foreigner, to do with you as they please.

  • Father Of Many

    I have to ask you people , I have been trying to get my family to listen and to start preparing , But all i get is your “nuts” thrown back at me . What is the best way to get them to atleast concider this might happen ?

    • Jake

      Hey Father, I like to start with the most respected professional I can find who will be warning folks of whats down the road. For me that person is David Walker, former Comptroller General of the US. He isn’t a crackpot or wildeyed fanatic. He’s the former head accountant for the country. Sometimes people will listen to him and once they see that there’s a real problem they can embrace my warning to prepare for what MAY come. It’s a start. Google David Walker and begin researching what he has been saying.

  • REED RICHARDS

    STEPHEN KING PRESENTS:

    Economic Horror 2012: Obamageddon!

    Gotta have deluxe front row seating to this freak show! Too bad most amerikans will be busy sifting through garbage cans and dumpsters scavenging for food…………..

  • Antonio Gonzalez

    But before the crash the Iran war.

  • Gary2

    The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming

    Yep caused by republican and conservatives.

    We absolutely can not let conservatives maintain their stranglehold in the house and senate.

    They will cause another recession just like the first one they caused.

    • knightowl77

      The dimocrap party ran the congress when the recession hit in 2008…not that the republicans don’t own an equal share of the blame….Obammy, nancy and harry voted for the bailouts of wall street not main street….

      So get off your high horse and quit spewing dnc talking points…

  • i’vegivenup

    Once again gas prices are going up…food prices (and everything else) going up…wars in Iran and Syria are just around the corner….Greece will soon default…personal and government debt is increasing day by day…our government leaders dodge the issues. Meanwhile the clock is ticking and we are only a short hop to a total collapse (maybe within months) Hope for the best which will still be bad and prepare for worse which will be a catastrophe. God help us all…

  • Rodster
  • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

    The “war of all against all” in America might just be the next “war to end all wars.”

    “Bellum Omnium Contra Omnes”

    http://olgreyghost.blogspot.com/2012/02/bellum-omnium-contra-omnes.html

  • Cinderella Man

    What happened to spiky dude? He looked like Static X’s lil’ brother! Yeah Tim, the chemtrails were terrible I thought that they were just some urban legend kind of thing, but I watched them for about 3 hours spraying in x’s and lines all over the sky. My dad who is a pretty sensible man was shocked at what he was seeing. He had never heard of the chemtrail phenomonon before so when I was reading some of the Infowars articles I was getting chills at what I was reading, because it was happening before our eyes! I told my dad to get inside because he has COPD and I dont want the govt. bastards to kill him early! F the NWO long live freedom!!!!!!!!!!!!! Oh and TAX THE POOR THAT ARE SPONGING OFF THE REST OF US WORKER BEES MORE! WELFARE MOTHERS DONT NEED $8000 FROM EARNED INCOME CREDIT TO BUY A $1100 FLAT SCREEN! IF YOU NEED MORE MONEY FIND ANOTHER JOB!!!

  • http://www.magnifiedview.com Yoda

    Kudos! Outstanding journalism.

    Communism is Coming To A Neighborhood Near You

    http://www.magnifiedview.com/2011/10/18/occupying-wall-street-style-uprisings-and-the-arab-spring-revolutions/

    Yoda@magnifiedview.com

    P.S. “May you live in interesting times” Ancient Chinese curse.

  • newton

    People NEED to understand; this is FIAT money supplies we are talking about !

    The Fed may be at a 53% leverage point —–

    So what ???

    In a Fiat world what’s the difference between 53% and 153% ????????????????????????????????

    When YOU hold the keys to the printing press and some sucker is a willing accomplice ???

    100%

    Crank ‘er up and turn ‘er on ! As long as their are willing buters of our worthless debt

    The sky is the limit folks — it could go on for a very, very long time.

    Look how long Greece has lasted ! What are her resources compared to ours ? She is in a full blown depression and yet has enough “collateral”
    to entice outside buyers of her debt.

    Just think for a moment the collateral of the USA

    It boggles the mind – and they will USE IT ALL !

    • bongstar

      please read my comment on qualitive easing a few comments up it explains how the fed has already swallowed up manny of our nations asset. and greece gets it most of it bail outs from the IMF along with all other industralized nations, and now were at the end of our rope. the technical term is the kensian end game!

  • denny

    1. Bring your family closer. There’s nothing wrong/failed with everyone living together. The elites love to reduce people to isolated units. We’re weaker that way and the elites believe we’ll buy more of their crap so we can ‘feel better’. To them, more crap means happiness. 2. Get to know your neighbors better. 3. Practice the human virtues of trust, compassion, love, charity, honesty, faith as in – our efforts will enable us to survive and thrive. 4. Turn off t.v. It’s full of lies, stereotypes and imagery which weakens us. Look closely at Madison Avenue’s image of the average American – seemingly helpless without their crap. 5. Stop buying corporate. Let’s weaken them for a change. They might even begin listening to our demands for a saner approach to life on our planet. Buy local whenever possible. 6. Seriously begin revamping your psychology. More is not necessarily better. Accumulation is not necessarily ‘success’. ‘Living large’ at this point is an obscenity. 7. Reject who the elites and corporations tell us our enemies are. We really don’t have any enemies, just people like ourselves who are trying to get by. If we do have enemies it’s the people telling us to hate and kill. It’s going to be a long path to true freedom and it certainly won’t always be easy. Good luck, work hard and trust each other!

    • Lennie Pike

      That’s the solution but I don’t think it is possible to pull off using their money.

    • Agoraphobic Plumber

      “More is not necessarily better. Accumulation is not necessarily ‘success’.”

      Incorrect. More is absolutely better if you’re talking about medical supplies, canned food, or cases of ammunition. Accumulation is absolutely success if you’re talking about beehives, cattle, chickens and stabilized gasoline/diesel/kerosene.

      I think, though, that you were talking about things like designer jeans, HDTVs and high-status cars. In that case, I concur with your statement.

    • EdK

      denny, Great post! I could not agree more! Get out of debt as fast as possible, self-reliance will bring each of us through this rising economic storm. If you are safe, help another to learn the ways of self-reliance and so on.

  • http://www.americankleptocracy.com MattS

    If the next collapse is around the corner, wouldn’t it be smart to take on huge amounts of debt to buy THINGS which could then be paid back with inflated (worthless) dollars in the future?

    Say you borrow $100K, you convert part of (33%) into emergency supplies and gold/silver, hide it, and then when the bank comes calling, you negotiate a “haircut” where you pay back $67,000, maybe on a payment schedule. As inflation worsens, you’ll be paid more and more for your work, so you’re making ten times what you did before, but your debt is still in “old” dollars. Your hoard of goods becomes more valuable, either to consume yourself, or to trade with.

    BTW this is what Wall Street does, but with our money instead of goods.

    • John Adams

      Spot on. Thank you.

    • knightowl77

      Many, are doing just that….

    • Jeff

      Problem is that wages lag behind prices. You better be damn sure you have enough income when things get bad to service your debt and pay inflated prices.

      • gary2

        just default on debt. Do a litle wealth redistribution of your own!

    • RedRiver

      Nice Try. However, my fear is this. Look at what is happening now and has happened throughout Europe. Unpaid Debt obligations are met with jail time. In some developed countries you still owe the debt even after the jail time and your services are indentured till payment. Think: I buy your debt from the courts and once you work off the legal amount of the bill making license plates for Uncle Sam you then burnish metal pipes for me. This debt is The Fed’s debt not the US. And the debt is guaranteed by the American people. Our lands and our labor have been used as collateral. Pay off your debts, I did. PS. I won’t be burnishing pipes for you.

    • http://warpedsystems.com dragonsprayer

      genius! but we have deflation with system collapse they flood the system with even more money and your stuff will increase but it will be worthless as china sells stuff even cheaper. we on a inflation/deflation knife tip – sure food and oil may be limited but a pandemic could easly create deflation such as all the empty farms and houses during the black death. Balanced is the key, some cash, some gold/silver plus what you need plus stuff too trade.

    • Erik

      You are here because of the very thinking you are doing. Borrow and not pay is the same thing as tax and spend more than you take in. It is theft. Responsibility comes to mind.

      Math is a bitch! What ever you take from one side you must give to the other. Perhaps you would do well to read “The Alpha Strategy”

      When all else fails you should realize that you are taking a risk- it might work- but when it DOES NOT please don’t be like the rest of the risk takers and expect me or anyone else to pay for it. If you do, you are Them!

  • Cynical Aussie.

    In regards to foreign investment in the US.
    When US firms invest in and buy up foreign firms and assets in foreign countries….the US sees this as a Good Thing. Sound financial strategy. Diversifying risk. etc..etc….
    If foreign countries do the same to the US, it is suddenly a Bad Thing. Destroying Sovereignty…Foreign Control….etc etc.
    Being an Aussie, my country is losing many of our businesses, croplands, even water and irrigation rights; to foreign companies, including some of the US’s biggest agribusiness concerns.
    To the US based companies, this is a good thing, and a Good Thing especially for the US shareholders. But if Aussie firms bought up US businesses….oh no…that will NEVER do!……
    The US is having done to it what it has done to others. How much sympathy do we have to give you, when you gave us little first?

    • Cynical American

      >The US is having done to it what it has done
      > to others. How much sympathy do we have to
      > give you, when you gave us little first?

      The average American citizen derives zero benefit from the things that our multi-national corporations do. In fact, we pay the price as well. Yes it’s true that the average American probably paid very little attention to world affairs but some of that is due to the US media (which is also controlled by big business).

  • Orange Jean

    So Michael, what do you think of this news (re: the FEDs goal to devalue the dollar by 33%)?

    http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/

    • Michael

      Very interesting article.

      I will have to put together another piece on the Federal Reserve very soon.

      Michael

      • Orange Jean

        Thanks! I do appreciate your work and insight into this subject.

  • james monroe

    You stated that people are feeling changes and that is why are site “The economic collapse” is so popular.How do you plug in a computer in a tent. I have shanty towns, being set-up around my neighborhood. and its scary knowing that people
    living in tents, with no water, are living close to me. you wonder what do they do with their time.

    • Michael

      James:

      Good point – most people out there still have computers, but out in the tent cities people are not able to read this site.

      Michael

  • ANTI ESTABLISHMENT

    The Americans have been sold out by their freaking untrustworthy Federal,State and city governments. We have more outsourced jobs. Our cities are full of robbers and rapists not to mention serial killers. So go ahead and hate the Americans! When push comes to shove our military which used to have some sense of morals which have been dumped on by Freaking Hollywood and Obama and his radical agenda. The Americans have been generous and rebuilt other countries infrastructure while ignoring our own stuff at home. GROW A SPINE AND TURN ON THE FREAKS OF NATURE COLLECTING TAXES THAT THEY DON’T EARN AND CALLING PENSIONS AND SOCIAL SECURITY AND ENTITLEMENT,,ONLY IF YOUR A FREAKING ILLEGAL IS IT AN ENTITLEMENT. THAT’S BECAUSE THEY COLLECT WITHOUT WORKING FOR IT!!!GROW UP!

  • FamilyGuy

    My high-tech job was outsourced to H1B visa holders (Indian nationals sponsored by the hiring company). I have been out of work for over 2 years and now it is impossible to even get an interview because I HAVE BEEN OUT OF WORK FOR TOO LONG! I am now at the end of my rope financially…no more money, too many bills, and no income. I have liquidated everything…no cash, no bonds, no stock, no retirement. Welcome to the new American “dream”…it’s a nightmare.

    • americanpatriot

      You need to write a book and explain to the rest of America how to survive what you and your family are experiencing. You are ahead of those who haven’t experienced this hardship as of yet and they will be looking to survivors to help them through. Don’t give up the fight.Your hardships can help others.

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  • david baxter

    Is the answer perhaps that The US and UK should default the way Greece is going to? And while the new people,s administration is at it, perhaps abolish the Federal Reserve and other central banks as well? Countries could then issue their own currencies as Abraham Lincoln did. He was assassinated for that – but two can *************.

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  • John

    Hey guys, do you want to go to Texas with me?!

    • TerriSkau61

      Not really since I was there less than a month ago to bury my sister…The little town she lived in was drying up…and it too will become a ghost town…:-))

  • TerriSkau61

    Michael when some one explains to me how we finance 61 Trillion in Total U.S. Debt…I keep my mouth shut..until then this too like all good things will go KABOOM…:-))

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