Comments on: The Silent Entitlements Monster: Social Security, Medicare And Interest On The Debt Will Gobble Up Every Single Tax Dollar By 2020

By: Joel W

Joel W — Sat, 10 Apr 2010 16:27:05 +0000

Anybody with a decent brain and without a political agenda can accurately point fingers at what caused this mess. But a little finger pointing to the most proximal point, ourselves, collectively, as to how the hell we allowed ourselves to be marketed to, sold, bamboozled and brainwashed into thinking we really HAD TO HAVE all the material crap now made in China for ourselves. Why did we tolerate the “Blob” of huge corporate food operations blessed and protected by palm greased politicians to grow to the point where most healthy small operation farms were wiped out leaving the majority of Americans not even knowing where food comes from and what the hell’s inside the loud packaging designed to bamboozle you into buying the crap. Lotsa people going to be hungry pretty soon.

By: Mr Pike

Mr Pike — Thu, 08 Apr 2010 02:15:13 +0000

I would like to request an article by The Economic Collapse Blog about the recent events relating to the March 25th public hearing at the CFTC concerning the accusations made by Andrew McGuire and GATA about JP Morgan and HSBC suppressing the price of gold and silver, mainly silver at the request of the U.S. Government (Western Banking Cartel). The story is not being allowed in the American Media and it is a huge story because it is the biggest ponzi scheme fraud by far in dollar amount in history. It is a crime by our government and the people who control it and many people will suffer greatly in the future because of it.

By: CrisisMaven

CrisisMaven — Wed, 07 Apr 2010 15:32:53 +0000

Good of you to try and hammer it home. What I can’t understand is that these developments were foreseeable back in, say, the sixties – for anyone who knows how growth curves and exponential functions work, added in the general insecurity of projections (meaning you need to err on the safe side). It is understandable that politicians want to dole out money during their tenure as the aftereffects don’t concern them afterwards and they even have enough money to make their offspring rich enough to shield them from the fall-out of their policies. However, already academically trained civil servants who also have children that are not equally shielded and who don’t always become civil servants themselves, those civil servants should have raised the alarm “a hundred years ago” so to speak as they are affected in the long run and often hold their country dear to their heart. And they are the first to be affected by the likely sovereign default (see furloughs in California, and “we ain’t seen nothin’ yet!”) so holding back for fear of losing jobs or stifling careers is not a full explanation for that lethargy in my opinion.

By: Lunatic Fringe

Lunatic Fringe — Mon, 05 Apr 2010 16:08:42 +0000

From the edge, a brief explanation…

Anyway that’s the problem. USA debt has the same problem. At 100% debt to GDP, the Fed manufactures money out of debt. The problem is supply. When the world’s greatest economy starts to crater it takes the collective action of every nation in the world to prop us up. So far, Japan, China, and Great Britain have done so. If their economies continue to deteriorate, they won’t be able to. Japan and China are in a death dance with us. To save their existing treasury investments they must continue to invest in us or lose what is on deposit. The USA has an ungodly pipeline debt of 60 trillion coming due and payable in the form of Social Security and Medicare payments. California it seems, is a petri dish, a sneak preview of our coming collapse.

That’s why expressing debt to GDP is really a pretty antiquated way of seeing the problem, although that has been a universally accepted practice. Can we survive at 125% or 150% debt to GDP? Sure. As long as the Fed isn’t audited.

If that audit ever occurs, and TRUST ME IT NEVER WILL, the world will suffer a complete and total collapse. What we don’t know, it seems, isn’t hurting us yet.

By: Johnny

Johnny — Mon, 05 Apr 2010 13:22:36 +0000

I don’t know. Nature ALWAYS has a way of correcting these kind of imbalances. Think about it : If SS is going bankrupt and they have to cut benefits and increase the retirement age to 70, that means a less healthy senior population. Not enough to eat / more stress, etc. Furthermore, once Obarma’s health-care kicks in, there will be loooooooooooooooooooooooooooooooooooooooooong lines to see incompetent govt doctors (Think quacks). Once again, the health of the senior population will deteriorate. Pretty soon the average life-span will fall below the “official” retirement age of 70. Then see – the problem fixes itself. Of course, by then USA is as poor as any country in the world. Think Zimbabwe, Haiti, Bangladesh.

By: Man With All The Answers

Man With All The Answers — Fri, 02 Apr 2010 02:02:37 +0000

Karma will catch up with these guys. But there is alot worse things to come.

Expect a market pullback in APRIL / MAY and this could cause fireworks elsewhere.

By: sn

sn — Wed, 31 Mar 2010 05:01:50 +0000

That was some very interested information you just posted. The state of our economy has really began to interest me. I don’t want to be another idiot throwing a tirade based on illegitimate information. Is there anyway you could post some citations on the information written?

thanks
S~

By: jimmy

jimmy — Tue, 30 Mar 2010 06:47:52 +0000

I have a feeling the dollar will drop / inflate soon enough. It is a horrible thought. That guy from http://www.forecastfortomorrow.com agrees with me, and he has been spot on with everything that has happend…including called the market collapse of 2008

By: Operator223

Operator223 — Mon, 29 Mar 2010 22:55:35 +0000

Thanks to the utterly corrupt lying filthy thieving leeches that are out to only line their own pockets regardless of the cost.

By: drew hempel

drew hempel — Sun, 28 Mar 2010 22:29:39 +0000

If only the $60 billion a year military black budget was cut.