The financial collapse that so many of us have been anticipating is seemingly closer then ever. Over the past several weeks, there have been a host of ominous signs for the U.S. economy. Yields on U.S. Treasuries have moved up rapidly and Moody's is publicly warning that it may have to cut the rating on U.S. government debt soon. Mortgage rates are also moving up aggressively. The euro and the U.S. dollar both look incredibly shaky. Jobs continue to be shipped out of the United States at a blistering pace as our politicians stand by and do nothing. Confidence in U.S. government debt around the globe continues to decline. State and local governments that are drowning in debt across the United States are savagely cutting back on even essential social services and are coming up with increasingly "creative" ways of getting more money out of all of us. Meanwhile, tremor after tremor continues to strike the world financial system. So does this mean that we have almost reached a tipping point? Is the world on the verge of a major financial collapse?
Let's hope not, but with each passing week the financial news just seems to get eve worse. Not only is U.S. government debt spinning wildly toward a breaking point, but many U.S. states (such as California) are in such horrific financial condition that they are beginning to resemble banana republics.
But it is not just the United States that is in trouble. Nightmarish debt problems in Greece, Spain, Portugal, Ireland, Italy, Belgium and several other European nations threaten to crash the euro at any time. In fact, many economists are now openly debating which will collapse first - the euro or the U.S. dollar.
Sadly, this is the inevitable result of constructing a global financial system on debt. All debt bubbles eventually collapse. Currently we are living in the biggest debt bubble in the history of the world, and when this one bursts it is going to be a disaster of truly historic proportions.
So will we reach a tipping point soon? Well, the following are 25 signs that the financial collapse is rapidly getting closer....
#1 The official U.S. unemployment rate has not been beneath 9 percent since April 2009.
#2 According to the U.S. Census Bureau, there are currently 6.3 million vacant homes in the United States that are either for sale or for rent.
#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.
#4 Back in 2000, 7.2 percent of blue collar workers were either unemployed or underemployed. Today that figure is up to 19.5 percent.
#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.
#6 Since the year 2000, we have lost 10% of our middle class jobs. In the year 2000 there were approximately 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.
#7 The United States now employs about the same number of people in manufacturing as it did back in 1940. Considering the fact that we had 132 million people living in this country in 1940 and that we have well over 300 million people living in this country today, that is a very sobering statistic.
#8 According to CoreLogic, U.S. housing prices have now declined for three months in a row.
#9 The average rate on a 30 year fixed rate mortgage soared 11 basis points just this past week. As mortgage rates continue to push higher it is going to make it even more difficult for American families to afford homes.
#10 22.5 percent of all residential mortgages in the United States were in negative equity as of the end of the third quarter of 2010.
#11 The U.S. monetary base has more than doubled since the beginning of the most recent recession.
#12 U.S. Treasury yields have been rising steadily during the 4th quarter of 2010 and recently hit a six-month high.
#13 Incoming governor Jerry Brown is scrambling to find $29 billion more to cut from the California state budget. The following quote from Brown about the desperate condition of California state finances is not going to do much to inspire confidence in California's financial situation around the globe....
"We've been living in fantasy land. It is much worse than I thought. I'm shocked."
#14 24.3 percent of the residents of El Centro, California are currently unemployed.
#15 The average home in Merced, California has declined in value by 63 percent over the past four years.
#16 Detroit Mayor Dave Bing has come up with a new way to save money. He wants to cut 20 percent of Detroit off from essential social services such as road repairs, police patrols, functioning street lights and garbage collection.
#17 The second most dangerous city in the United States - Camden, New Jersey - is about to lay off about half its police in a desperate attempt to save money.
#18 In 2010, 55 percent of Americans between the ages of 60 and 64 were in the labor market. Ten years ago, that number was just 47 percent. More older Americans than ever find that they have to keep working just to survive.
#19 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China's share had soared to 20 percent.
#20 The U.S. government budget deficit increased to a whopping $150.4 billion last month, which represented the biggest November budget deficit on record.
#21 The U.S. government is somehow going to have to roll over existing debt and finance new debt that is equivalent to 27.8 percent of GDP in 2011.
#22 The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.
#23 According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the profession over the next three years.
#24 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.
#25 All over the United States, local governments have begun instituting "police response fees". For example, New York Mayor Michael Bloomberg has come up with a plan under which a fee of $365 would be charged if police are called to respond to an automobile accident where no injuries are involved. If there are injuries as a result of the crash that is going to cost extra.
You can leave without the exit tax if you keep US citizenship.
The problem is we’re not producing much. We’re a nation of office and service staff, plus professional gamblers on Wall St. We need stuff we can export.
Foreigners are right- Americans aren’t learning economics in school.
Lets start the cuts. UN expenses, government salaries and positions, government foreign travel and fringe benefits, pork barrel program. Just start in Washington!!!!
Tim Hammond:
Not only do you have the Bible as evidence to substantiate that what you said is truth but you must have said what you said either partly or entirely because you have allowed God to have control over you and that has a lot to do with the words that come out of your mouth.
Even more evidence to substantiate what you said to be truth was given by the example of what came out of the mouth of Shut up. What you said must have really struck a nerve in the one that controls what comes out of his/her mouth.
Guys.Don’t worry.Obama will fix everything
I’M SHOCKED THAT AMERICA IS IN SUCH HORRIBLE SHAPE AFTER READING SO MANY INTELLIGENT BLOGS HERE AND ELSEWHERE.
there certainly seems to be a metaenormous gap between capability and reality.
The problem as I see it (at least in the US) is we have slowly replaced a representative democracy with a fascist state. The Supreme Court sealed the deal with the “Citizens united” ruling; a ruling which went well beyond the scope of the case (in my opinion to insure that corporations could control elections). With only a few exceptions, those in Congress do not have the best interests of the American people at heart. How we can fix this without unprecedented pain, suffering, and yes, blood in the streets, is a mystery to me. But I agree with the authors, the tipping point is very near.
Aint Capitalism Grand?!!
Matt-Reagen increased the deficit. Quit lionizing that dumb goof.
Cindybin-you obviously do not understand absolute vs. relative poverty. Google this and I think it will totally debunk your post.
Matt-Gene is correct-the rich have been getting many tax cuts-where are the jobs? If you need to go all the way back to the early 1900′s to try to support your inane statement you obviously are missing something.
Nickelthrower-great post and insight. I never thought the all the people who say socialism is so terrible had never actually been to a mildly socialist country and would be repeating Rush and fox “news”.
One of my customers is from Germany and I asked her the other day which country she liked better and without hesitation she said Germany. Said they run their country much better and everyone is better. The social safety nets are better so they do not fall so low if they loose a job etc.
This country could be better-we simply need to reduce the gross income inequality in this country. IE:tax the rich and spread the wealth, living wages, high taxes on corp who ship jobs to other countries etc.
@Matt
“You do understand that the federal income tax did not exist at one time, right? You also know that when the top rate was lowered from 70% to 50% in 1982 that the economy and government revenue both sky rocketed? Or is it you really have no idea what you’re talking about?”
You are wrong. See below Reaganomics @ wikipedia (also note, wikipedia uses citation to back up its information, where as you do not — but I understand why).
“In 1981, Reagan significantly reduced the maximum tax rate, which affected the highest income earners, and lowered the top marginal tax rate from 70% to 50%; in 1986 he further reduced the rate to 28%.[15] As a result of all this, the budget deficit and federal debt increased considerably: debt grew from 33.3% of GDP in 1980 to 51.9% at the end of 1988 [16] and the deficit increased from 2.7% in 1980 to more than double in 1983, when it reached 6%; in 1984, 1985 and 1986 it was around 5%.[17] In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion,[18] and the United States moved from being the world’s largest international creditor to the world’s largest debtor nation.[19] Reagan described the new debt as the “greatest disappointment” of his presidency.[20]“
Gary2:
So, you are Dutch… so what. If you really like a Socialistic Government, then move to a country that already has it in place. You have spouted the same old “The Rich Are Greedy” mantra throughout several of your posts.
In America, we are FREE ! If you don’t like the wages that Wal-Mart is paying, then go somewhere else or start your own business and run it as you see fit. Believe me, Unions are NOT the answer to wage and benefits issues… just look at General Motors that has catered to Unions all these years and needed to be bailed out. The Unions don’t care about the workers; they care about themselves and the power they have. I know, I was in several Unions for two decades and I know first hand how they work. Yes, my wages were higher and benefits were better than an equal job outside, but after I became my own business owner, I realized first hand the real cost of running a company. Having a Union planting itself between the company and employee is the true robbery that goes on in America.
Capitalism works if left to work. Put too many government obstacles and regulations in the way, and it fails. Why is it that a capitalistic country like the U.S.A. gives more to other countries than ANY other county in the world ? Saudi Arabia is filthy rich, but you do not see them giving to other country’s anything even close to what the U.S. does… WHY ? China is one of the most powerful and wealthy countries going, yet you don’t say a word about them; Why not… ?
If for you, America is really that bad, them by all means, go live somewhere else where you feel the government is good and fair to its people; more so than in America… No one is stopping you; otherwise, keep your liberal BS to yourself because it doesn’t hold water. Japan just lowered its corporate tax rate, which now makes the U.S. rank as the highest corporate tax on planet earth… but no, you Gary2 want those “greedy corporations” to pay even more. Tell me, how much should someone earn that opens a box; places the items from the box onto a shelf; then takes the empty box to the back stock room to be recycled ? No schooling required; no real “job skills” needed… If you owned a small company, Gary2, how much would YOU pay that person per hour ? Remember, if times are tough and not many shoppers are buying, you STILL need to pay this person their weekly wage for showing up… just give us all a number that you would pay them per hour.
You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. You cannot multiply wealth by dividing it. This probably does not make any sense to you as you are most likely the one that is receiving from those that truly work for a living and take the chance on being successful.
Only one person has gotten it right on this whole page. The Lord Jesus is returning to this world very soon. All Bible prophesy ponts to it. Accept him as Lord and obey, and nothing else will really matter.
The problems of which you speak will not get better, only worse, until his return.
Hey, FOX, how free is someone who is unemployed, has no unemployment benefits and no health insurance, and has a foreclosure notice in his hand? This is your “capitalism” at work.
American debt slaves and corporate slaves are going to get a rude awakening soon. Party is over. The song has stopped singing. The Dream has collapsed. Now pay up or eat the ****!
Get ready for what’s coming.
FOX-Many many people are trying to make America a more left of center nation. I want my country back for the destructive ravages of the free market republican conservative dogma that has ruined our country. A lot of people feel as I do, many more than you think.
If all you can pay are crap low wages then we do not need any more of your businesses. Its nothing to be proud of providing poverty wage jobs. You should be ashamed.
I like how you said your wages and benefits were better in a union. As I see it wal-mart, mcdonalds etc could be forced by the government to double their workers wages and still be very profitable.
FOX-I posted this in a previous post on this site. It is very apropos to you.
It isn’t just the issue of coming with more jobs. If a CEO creates a bunch of Wal-Mart jobs–low-paying, without benefits, non-union–is that something we should praise? I know the answer, from my little corner of the world. But, it should be much more explicitly said–we got into this crisis precisely because people were not being paid enough and people had to use credit to pay off things like health care costs and other basic living expenses.
Or as Jesse Jackson has said, “Even slaves had jobs”.
As more as I get to know about other countries, (I’ve lived in many of them, by the way!) as much more I love this one (USA) in despite of all of its big problems…
@ Nickelthrower
I have news for you, first, Germany is the size of Texas, not Arizona, a big difference. Second it has some 80 million people, which makes it 1/3rd the size of the US. Third, no Germans work 40+ hours a day, you have mistaken them with the French. Furthermore, the average German paid vacation is 28 days, not 40.
Next, Germany has a very protectionist system, so yes, things cost a lot more, but they also have jobs, in other words, they are not built on import and accumulation of stuff. They have fewer things, but better life quality.
Gary2, it is rare to find a mind as void as yours on a public messageboard. Your complete lack of a any knowledge of remedial economics is actually quite frightening. The mere fact that you believe the solution to our financial crisis is to pay more in wages verifies a deep seeded stupidity that is mind boggling.
Please cease from any additional posting, you are only embarrassing yourself and humiliating your parents.
I really feels sorry for you. . . it must be horrible to live in such a intellectual fog.
One more for your list: The next shoe to drop is defaults in State and Local Municipal Bonds, Public pension funds, excessive government employees, etc. Almost every state in the union are in default some worse than others. The next 12 months will be really bad.
I see bagging on Americans as either stupid, lazy, uninformed or gullible is STILL all the rage in Europe. With all the rioting over government gimme programs going broke in Europe, I can’t imagine why you think Americans have it all wrong. Sure there are plenty of couch potatoes and undereducated dolts in a nation of over 300 million, but you are being a literal bigot if you assume those to be a cross section of all of America and Americans. And bigotry sucks in ANY nation. While there is turmoil over wikileaks, most Americans are content knowing that the revelations are little more than was already expected. There have been no really shocking revelations about the US at all. Just confirmation of things we already suspected or thought we knew. One place I do agree on American gullibility is in accepting liberal programs without properly vetting them and without properly limiting their course from the beginning. Because of this we have an entire class of citizen that has been raised on welfare with little more than crime and drugs as constant companions. Breaking out of that life has become almost impossible since ti keeps people in an economic bubble, isolated from fiscal reality. When they do try to rise above it they discover the tax system is there to slap them back down a year or two after they taste freedom. We lack transition systems to enable those who want to succeed and instead have installed an array of road blocks. And yet, people come to America in long lines and manage to rise above government assistance the moment they arrive, even when penniless! I’ll start to buy into a total collapse when unemployment gets closer to a realistic, government can’t hide it 20%. I’ll really worry at 30% after having purchased extra ammunition at 25%.
Again, bagging on Americans has always been easy and trite at the same time. By all means point out a system that is actually doing better. Show me a system that is totally fair to all of the citizenry and has enough left over to give to other people all over the planet. Also, show me a nation that allows people to walk across the border without immediately being designated as criminals. Selling America short based on bigoted assumptions is about as serious a miscalculation as one could make. If America crashes does anyone really think the rest of the planet will just go chugging merrily along?
Who’s really uninformed here?
Grobbbbbbbbbb
When it all goes down, I suggest we take back all the corrupt monies from corrupt politicians, special interests and rich crazies who made all this happen.
For change to occur, on a scale necessary to turn around our country, the US electorate would need to:
1. be in better control of their emotions
2. acquire an open mind
3. increase logical thinking and comprehension
4. come together as a team
5. be courageous
Until then we can spend our time venting on blogs.
I amazed that so many people think Obama and Congress are turning the U.S. socialist, ala France. If they were paying attention, they would understand that what is happening is that we are becoming an oligarchy, ala Russia. Read my last blog entry at http://thegreatrecessionconspiracy.blogspot.com to see the actual numbers from U.S. tax returns from 1987 to 2008. It is scary stuff!!
The rich don’t pay taxes, (via loopholes), The poor don’t pay taxes. That leaves the middle class footing the bill. I propose abolishing the IRS and State taxes then initiate a national sales tax, everyone pays the same. No IRS, NO Soc. Sec. tax. How much would that save the budget.
Actually I agree with Gary2 on this one.. Unfortunately at this point there is no way congress or the people are going to compromise enough (there are just as many Americans on the left as the right) to stop this ship from sinking.
We’re so polarized and ticked off at each other that we simply can’t work together to solve the problem.
This is bound to happen
when you live beyond your meanssooner or later you will be in want
when the leadership,judiciary become corrup and inept
this is the result:
As far as inflation is concerened the Bible which
the present leadership ,does not follow -has predicted
thta one lb-pound-of wheat will be sold for adays wages:Food will be that expensive
But what is the solution
Only let the people decide their fate and not
corrupt politicians and the very rich who controll
the money bag!
Fox:
You state: In America, we are FREE !
Actually, you are indentured servants of the American Corporations. Time to stop believing the rhetoric and propaganda.
The true definition of being “free” is having the means to live your life as you choose.
Americans love to talk about being “free” and being in a “free country” (as if the rest of the world lives in some sort of prison or something) only more and more are suddenly realising they lack the financial capacity to do much of anything.
Unemployed? heavily in debt? negative equity on your mortgage? Oh yeah… very free then….very free to just walk away and set up business on your own (who the hell is going to lend you the start up capital?)
Americans….for crying out loud…..WAKE UP!
Watch this video to see how the government and Federal Reserve System are milking everyone. The Fed makes money out of nothing.
The cost of living is not going up–the value of the dollar is going down! We are the ones that are paying the cost-of-living hidden tax.
http://www.youtube.com/watch?v=lu_VqX6J93k
The Creature from Jekyll Island (by G. Edward Griffin) Length: 1:47:20
I’ve traveled all over the world and if Europeans are concerned about our standard of living then they are profoundly insulated and ignorant. Healthcare is better in Germany? Really? Well if you want to get treatment for cancer you better get it in the US. You’ll live longer. http://riffenberg.wordpress.com/2009/09/09/us-vs-western-euope-and-canada-cancer-survival-rates/
and in Holland, A friend of mine had to bring her father to America for prostate cancer surgery. He was 75 and they wouldn’t treat him surgically in Holland. The came right out and said, “after all, you are 75″. He was too old.
Don’t try to get vitamins in Europe. They are codex. 20 Vitamin C lozenges costs about $20.00 in Germany. I buy 500 tablets/ 1000 grams at Costco for $24.00.
Driving? The elite all drive because they can afford to. A license to drive will cost between 1400-2000 euros in Germany and Holland. http://community.justlanded.com/en/Germany/forum/German-driving-license Amsterdam and maybe all of Holland charges for parking, even if you park in your own driveway.
Housing? They live in apartments. Few live in houses.
We have people from all over the world living in this country. So Americans are not culturally deprived.
I have cringed many a time when my European co-workers make comments about Jews and gypsies. I cringe when I go to Mexico and hear my Mexican co-workers speak of blacks. Talk about racists. Oh and BTW, don’t ever link Spaniards with Mexicans. They consider Mexicans inferior.
View: Day of Reckoning at the blaze.com. A 60 minutes piece on the economy nationwide this past Sunday. Welcome aboard MSM. it took guts to tell the American people how bad things really are.
All we can do is prepare by having extra food and water on hand. We must become a bridge between the collapse (inevitable) and whatever future comes out of the ashes.
You will either be a survivor or a victim. When Americans lose everything, they will LOSE IT (their minds). There nothing more scary than frightened people who did not read and heed the daily news of our situation (more than two years now). Get onboard now and stock up. Reach out to your neighbors so that you are not an island to get too. Have atleast a 6-12 month of food and think that you will need to ration it.
We are going to head into some very dark territory which this country has never experienced. Notice that things that have been happening to the US have been first time events, the worst this, the worst that in American history. Its no stretch in what I am saying.
It is difficult to say exactly when the stock market will collapse. I was a stockbroker for 27 years and try to stay well informed. What I do know for sure is whenever the bullish sentiment goes over 60% we are usually near an important top and is usually a very bad time to buy stocks. Last week some sentiment services came up with a bullish sentiment number of 73%. CNBC just interviewed Regis Philbin asking him for his favorite stock pick. Enough said.
Why not simply view 2 websites I found – exactly on point with a /the solution:
cafr1.com
taxretirement.com
Why are these sites not getting attention?
Enough said we are heading down the dark valley real fast! People are now starting to WAKE-UP, this isn’t just another Y2K not really going to happen even. The fall of this USA empire is crumbling like crackers. Wonder why the Government isnt talking about fixing the debt because they can’t, we can’t! It’s all gone there isn’t anything that can be done our way of life is finished!
This is a sinking ship, it’s not only California, Michigan, New York, but many other states as well! They all need a bail out – teachers, social workers, police, nurses, attorneys … list goes on and on will be with out a job soon.
What do you think will happen?
Any advanced economy will crumble for want of deployment of credit for productive purposes.In USA the lenders would not lend for any productive business activity and yet billions of dollars are lent for huge M & A deals that usually reduce jobs.Our Govt has no mechanisim to ensure that all the stimulus money etc are used for increasing actual jobs instead of buying Treasury Bonds that yeild Banks 3% without any cost of funds or risk.The super rich have forgotten that when society’s fabric is ripped, all the money they have will be no good because they will not be able to enjoy it peacefully.When playing ground is not level, the new comers in business are eliminated by lots of rules that are created by existing players thru Govt agencies that are in their pockets.That takes away freedom, despite your being free in theory.If you are starved for long enough, your ethics die before you are in the streets doing desparates things.Yes I do believe schools here and parents here have failed to raise hardworking youth that can compete youths in foreign counties.
Hello Everyone & Happy Holidays,
While all of us are looking at the financial collapse of the Derivatives World,
We are not looking at the bigger picture.
Perhaps the Financial Collapse parallels the Polar Shift.
For the past 2 years, the Farmers that I know, have not been getting any apples, or plums.
Bees are not pollinating the crops.
Bees, have a Geo Navigation sense,
& they are deserting their hives.
Something is askew.
To understand this,
Think of the Compass at the Bermuda Triangle.
Then there is the Woolly Mammoth found buried in Siberia, w/Tropical fruit all around him & in his mouth.
That was an Instant Polor shift.
Did anyone see the film, Sea Monsters?
America was underwater, not once, but many times.
In fact, if you dig down into the earth,
There are 7 layers of:
Marine/Earth layers,
or, Polar shifts.
Although the Financials are important,
They are a symptom of a much greater catastrophe.
Subliminal, to some.
Time to wake up.
Look at the signs of the times.
For me, I believe in Intelligent Design,
Much like Einstein, Da Vinci, & many other
Great Minds.
My Holiday Wish, is that all of us,
Prepare,
& Get our House in Order,
as the Dr. says.
Happy Holidays, Everyone,
Regards
Bonnie Ember
Filmexpeditions.com
Do not count the Americans out yet! Yes their will be a few that lose it and do dumb things. That is a given.
But we have been through times like these , just ask your great grand parents. And in the late 1890′s it was really bad.
We will not like it but we will do what Americans do, we will get up and fix it.
This is when we will see Americans do what they need to do and Clean out our Government . And to put in people who will make things happen.
One thing my Grand Mother said years ago is, Americans are a funny people , they will let others push them around . And not say much even though they should. They will put up with the dumb law’s that are around and not do much as they want to keep the peace.
But one day they will wake up and be angry,an say we have had enough and that will be the day that we say woe to the ones who have done this as we , the Americans are going to make it right.
It will happen and when it does look out to the ones who have used the system to get what they want. Because we are looking and we are coming.
Americans are at their best when things are down,that is when we pull together and when that happens there is no one that can stand in our way.
Do not believe me? Then watch.
Whether Republican or Democrat, thae politicans have robbed the American people for decades to serve their own agendas. Why did no one know about the outrageous governmental pay scales or pension obligations? When some tried to blow the whistle on Fannie and Freddie, the former Democrat bigwigs who littered their executive ranks, refused to re-organize. Dadd and Frank should have been impeached for letting those groups run wild. Why?????
#26………Massive Inflation Very Soon then Hyperinflation
The CRB Continuous Commodity Index is within a
few points of 618, the July 2008 high which was rising for years.
CRB Continuous
Wholesale prices for soybeans, corn, silver, gold, sugar, hogs, orange juice, cotton, natural gas, oil, wheat, oats, and other commodities makeup this index.
Societies NEED them.
Once it breaks 618, it will get very aggressive. Thanks Bernanke and Congress. You’ll get the inflation that you wanted.
“… as our politicians stand by and do nothing. ”
U.S.A. is a free market economy.
Do not mess with the invisible hand of a free market, that is: Governement, keep your paws off of the free market. Let the free market take care of the depression! No better than the free market!
Why cry for help from the politicians and the government?
Or maybe the free market religion is not totally correct? Maybe free markets need some regulation?
This “Karen” talks about stereotypes (including opinions). She misses the point that stereotypes are mostly correct
yea the dollar is going to collapse the more they spend the faster it will, will you be living in this bloody country when the **** hits the fan?!
There are some good comments here but how about some solution-oriented ideas for the average Main Street person already struggling? I am wondering what people are doing to safeguard whatever assets they may have left after 08 such as Mutual Funds that are being managed by a solid investment company. I am wondering how the little people can find out what people in the know are doing. I know there are no magic bullet solutions but I bet there is are some good ideas circulating.
Solutions? Get your money out of the market and buy your own private stock of wheat, oats, beans…seeds. It’s gonna come crashing down. I am amazed it hasn’t yet. Most people I know are still living like its going to get better in just a few more months.
The federal government is preparing for this eventuality.
1). There is a massive underground building by the feds. They will hide during the inevitable horror.
2). Haliburton has a contract to build stockades on all military bases, including 3 temporary ones.
3). An Indiana railroad car manufacturing facility,has built the first prototype restraining car for rioters,looters,etc,for the feds.
4). The feds cannot confiscate guns,so the will overprice or make scarce ammunition.
5)Pray for a miracle.
FINIS PAX
The gold bubble is next to burst. There is not enough gold to cover all the paper purchases.
IF IT WERE NOT FOR OBAMA AND HIS MARXIST/COMMIE GOVERMENT PLANS AND HIS WANTING TO BE “GOD” I WOULD TOUGH IT OUT HERE IN THE UNITED STATES, BUT IT IS TOO LATE…I AM OUT OF HERE JUST AS SOON AS I CAN FIND A PLACE IN COSTA RICA.
Why not simply view 2 websites I found – exactly on point with a /the solution: cafr1.com taxretirement.com Why are these sites not getting attention?
You and about 400,000 other Americans that have already moved there. I too am looking for an escape hatch. Collapse of this country is inevitable, and our leader is ushering it in as fast as he possibly can in order to trap most of the population.
Gary2
You should just quit trying to justify your point, You have been hammered by responses here, EVERYONE knows your wrong and I suspect you know your wrong. Quit while you’re behind because you’ll never get ahead in this debate.
Sorry if it hurts, but people like you probably weren’t meant to survive infancy.
[...] that help drive the market to the authors financial services, I still agree with them and others that we’re headed for a full financial meltdown if we don’t immediately change our [...]