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Tipping Point: 25 Signs That The Coming Financial Collapse Is Now Closer Than Ever

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.

  • mondobeyondo

    Yes, we’ve got Trouble.
    Right here in River City.

    With a capital T, and that rhymes with D,Z,E and G.

    D for Depression.
    Z for The End.
    E for Economic Collapse.
    G for Good Gracious God!

    Merry Christmas.
    Please ask Santa to send you a sack of coal.
    You’ll need it to heat your house this winter.

  • http://brunolem.wordpress.com Brunolem

    To answer #20, please call 911BHB and ask for Ben Helicopter Bernanke!

    The Western world is like a man in his 50s, who has been partying, heavily drinking and smoking, for years.
    This man just suffered from a massive heart attack, and the doctors had to implant a pacemaker to resurrect him.
    Yet, right after being released from hospital, he goes back to his former life.

    What are the survival chances of a man in his 50s, with a pacemaker, partying every day of the week?

    Click on my name to visit my blog.

  • mondobeyondo

    The 2010 Poverty National Anthem…
    (now being sung at tent cities everywhere!!)

    [thank you, John, Paul George and Ringo]

    “Help me if you can, I’m feeling down
    And I do appreciate your being round
    Help me get my feet back on the ground
    Won’t you please, please, help me”…

  • Tim

    40% of doctors will leave the profession? Nonsense. They are grossly over paid and spent 1/2 life in school so they can legally rob us.

  • Gary2

    All these trends could be reversed if we simply tax the rich and spread the wealth.

    The top 1% have more wealth and income than the bottom 50%. This is unhealthy and immoral. Yet the tea baggers want to give tax cuts to the rich. Are they crazy? (yes)

  • wallyworld

    when u start shoppin at the dollar store for groceries, u know things are bad

  • Michael

    This is China’s message to the USA:

    Bow down to the one you serve.
    You’re going to get what you deserve!!

  • paul anon
  • Hognutz

    Gary, I hate to break it to you, but even if we confiscated all of the “rich” peoples wealth it would not put a dent in the National Debt.

    Instead of looking to take peoples wealth, it might be more productive for you to start looking for ways to get yourself and the rest of your parasitic breathern off the Government teat.

  • Concrete man

    “Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them, and these will continue till they are resisted with either words or blows, or both. The limits of tyrants are prescribed by the endurance of those whom they oppress.”

    Frederick Douglass quotes (American Abolitionist, Lecturer, Author and Slave, 1817-1895)

    WE DEMAND MORE CHEAP JUNK AT WALLY WEIRLD!!!

  • William

    the US system of governance is BROKEN. The US Congress is composed only of people whose
    primary goal is to be reelected, and NOT to work for the good of the country. Look at the Nov 2010 national elections. Republicans, who drove America into the ditch and created the current national nightmare, were voted back into power in the US House. How strange it is to hear these Republicans talk about the debt and deficit when they had NO problems with Bush’s stunning deficits. “Earmarks” continue, the deficit is stunning, and the collapse is coming.

  • http://dumbolddad.blogspot.comq Dedicated_Dad

    Gary2: Are you serious? Really?

    The “bottom 50% pay *ZERO* taxes now – and 4 of 5 actually get MORE out than they paid in via “earned income credit” and other “refundable tax credits.”

    Your “top 1%” OTOH are already paying more than 1/3 of all income taxes paid. Further, the “bush tax cuts” actually INCREASED the taxes paid by the top percentiles – but that didn’t stop you leftards from lying about “tax cuts for the rich”, did it?

    Your class-warfare bigotry is – in large part – responsible for where we are today. Just how much harder do you think you can stroke the most productive people in our society before they “Go Galt”? Here’s a hint: MANY of them already have.

    Many – myself included – have cut BACK our economic activity, laid off workers, closed shops and otherwise reduced our exposure — which ultimately hurts others far more than “the rich.” Why?

    Simple. I’m better off with fewer employees and less revenue – growing my business will now COST ME MONEY thanks to your Looter mentality.

    Ah well — maybe someone in your bottom 50% – who pay no taxes at all — will give you a job, right?

    DD

  • Matt

    Bring on the collapse! It will wipe out all the corrupt power empires, and we can start over with a clean slate, and the Constitution. Gary2, it is not the rich I nor you should despise, it is the CORRUPT be they rich or poor. I’m not rich myself but aspire to be rich through my own honest & clean hard work. I hope you aspire to be honestly rich also, and hope you are someday.

  • VegasBob

    We need to face up to the fact that we have behaved stupidly as a nation. Globalization and de-industrialization have been tragic mistakes for America. Importing goods and exporting IOUs has led to the destruction of our economy.

    The debtor always becomes the servant of the lender. It cannot be otherwise.

  • Thomas

    From what I understand the Euro will collapse first and within 2-3 weeks the dollar will collapse. This has been planned since the end of WWII and we can Thank the Global Elite (Bilderberg Group), Banksters, & our corrupt Politicians for destroying the USA. Get your house in order because it’s going to get UGLY.

  • ben

    Shouldn’t it be, “Tipping Point: 25 Signs That The Coming Financial Collapse Is Now Closer THAN Ever”?

    • Michael

      Ben you are right – I don’t know how I overlooked that.

      Michael

  • Pixie

    I don’t blame doctors for leaving. Maybe some are in it for the money, but the majority genuinely got in it to help poeple. They are so regulated by government AND FEAR OF THOSE DAMN LAWYERS that they do things they wouldn’t ordinarily do to have to protect themselves. This is the last straw that will break the doctors’ backs. What’s the point of spending such a long time in school (working hours most of you wouldn’t) to end up having to listen to Obamacare bureaucrats.

  • http://leibowitzsociety.blogspot.com Leibowitz Society

    People still seem to be busy shopping and planning out their holiday parties and whatnot. I think that January is going to be a hangover month in a lot of ways, a time when people lose the festive end of the year mood and there’s nothing but a particularly nasty winter and worse and worse news to deal with.

    All the signs are there, we know the storm is coming…the question is just how long we have before it hits, what we’ve done to prepare ourselves for it and how bad it will be and long it will last. A decade? A generation? Or will this be the end of our current global civilization and the trigger for our descent into a new dark age?

    Visit http://leibowitzsociety.blogspot.com for one way in which we can prepare for the coming collapse.

  • http://www.danielrevelationbiblestudies.com Robert Stout

    Point 1. Realistically the unemployment rate is hovering around 20%
    Point 2. I’ve worked in this business for 7 years, and new homes are coming on the market every day.
    Point 3. China and Japan are the two countries holding most of our debt. This is dangerous!!
    Point 4. Blue collar workers in the USA is going is really struggling, I know a lot of these types of people.
    Point 5. China has 2.65 trillion dollars of our money and are building their navy at a unbelievable rate. 5 ships to our 1.
    Point 6. The big plan is to wipe out the middle class and its working very well!!
    Point 7. The USA used to be an industrial giant back in World War II, but now we have become a service nation, what a pity!!!
    Point 8. I know several real estate agents and their just about to go bankrupt because the housing market is dead!!!
    Point 9. Even if you have good credit, it does not mean the banks will give you a loan!! See it all the time with my friends that are middle class!!!
    Point 10. Very true statement, the middle class are falling into a tail spin with their mortgages, and many just cannot keep up because in many cities the prices of hones has significantly decline din value!!!

    Many of my friends are reading your report daily because of the straightforwardness of your investigation into all of these serious issues, and the clear and precise writing that you and staff are doing!!! Keep up the excellent work!!!

  • http://none Patrick M

    We are in this shape because of the liberal (Read Commie) thinking of the likes above Tim and Gary2.
    Doctors DO NOT have to pratice! And once Obamacare really starts (God I pray we stop it) you will see the negative effects next time YOU have to see a doctor!
    Gary2 you really don’t get it. The Wealthy are the ones that CREATE JOBS and also have the ability to just leave the country if they choose bringing their money, taxes and jobs with them to some other country.
    Wake up America ! The writing is on the Wall !

  • jackmeof

    Gary2
    Obviously you are on the list of people trying to get something for nothing which is likely what you have achieved in your lazy ass life …nothing tax someone who is successful nice to be unsuccessful huh? This way you dont need to be responsible for anything…you are the problem in this country

  • LC

    China is in trouble too. They have been buying our debts (loaning us money), and when the dollar collapses, everyone in the world (who is in the slave class) will suffer. The only way to stop this is to outlaw fiat currency & private central banks, default on these debts that have been created by our politicians & international bankers, and prosecute all of these criminals for stealing the prosperity & wealth of the world.

  • Peter Courtenay Stephens

    Gary 2 It is unfortunate that you never got the skills necessary to get more than a grease trap cleaning job at a fast food joint and were born with a sub average IQ, but just because others succeed in life doesn’t give you or any one else the right to steal from them. The government does a very good job of it as it is. Besides if you gave all the money the rich have to people like you, it would just be back in the hands of the rich in a couple of years as morons who don’t have money have not the slightest idea what to do with money and so very quickly squander it and pass it on to those who have the skills to attain wealth.

  • quiltingsando

    This is no accident that the world economies are all tanking at the SAME time. It has been carefully orchestrated and documented by the International Banking Cartel. Working towards a One World Order under their control.

    Our crime has been our Apathy to politics. We have been entertained by bread and circuses. The FRACTIONAL Reserve Banking System is a FRAUD and those who run it should be on trial for Treason and Fraud.

    To blame China for our predicament is WRONG.
    Our politicians POLICIES and LAWS drove business from the United States. Focus the blame where it belongs not shift it to others.

    We are living in a Corporate Oligarchy system,
    the two major parties are BOTH OWNED by these Oligarchs. Elected officials are presenting bills they have not written (lobbyists write the bills) or even READ the bills before voting on them. This is OUTRAGEOUS! Rather than be up set with wealthy people or doctors be upset with TREASONOUS POLITICIANS and the BANKING CARTEL that has gotten away with the thief and destruction of your country. Be upset with ourselves for our Apathy to what is going on. Turn OFF the tv READ a book go on the internet research and be informed.
    Good luck because when the SHTF they have plans for you and you won’t like them.

  • Teknikid

    If it were not for the privately-owned (non)Federal Reserve and the corrupt Congress, we would not be in this mess. Our government has sold us down the river to enrich bankers beyond your wildest dreams. The jig is up and the game is over.

  • Tea Bagger

    Hey Gary2.

    GET A CLUE! Taxing the rich will only drive them and their money out of the US. You want to stop all of this?

    Stop taxing all of us, cut the defense budget, stop all of the bs social programs, and end the Fed (which is not Federal at all).

  • flubadub

    In 1982 the national debt was around 1 trillion dollars. The rate on a 30 year treasury bond was at over 14% due to the inflation rate at the time.

    http://mortgage-x.com/general/treasury.asp

    Our national debt now is approaching 14 trillion dollars and rates on the thirty are around 4.5%. Any fifth grader with a calculator could predict the effect late seventies – early eighties style inflation would have on the cost of servicing today’s national debt. But this is a word problem that most of our leaders and media continue to ignore.

  • http://ariel.org stilo

    It seems as though everyone is laughing at everyone else. America is laughing at Europe because of their troubles. But we’re about to receive a huge piece of coal in our stocking. The Chinese are laughing at us. But they’d better watch out because Santa is comin’ to Town. That goes for anyone invested in Russia and her allies.

  • Jim

    The top 1% earners pay 38% of all Federal income taxes collected, while the bottom 50% pay less than 3% of the total. I’m not part of the rich (I’ve actually been unemployed for 6 months now) but I’m not stupid. Lower the tax rates on the rich and they will pay MORE in taxes at the end of the day, because they have an incentive to work hard to make as much as they can. If you raise the tax rate on the rich, they have no incentive to invest in earning an income – they will just wait on the sidelines or invest in another country that treats them better.

  • Patti

    All this could have been avoided if our administration would adhere to the constitution. Stop the eternal business/personal regulations, cease the thieving from the public via taxes/regulation/mandates, stick to keeping our country safe and protecting the citizens. The progressives are all for themselves and they’re personal agenda’s that keep they’re constituents happy to re-elect them next time around. Our current and past administrations are not there to serve the populist, they are there to dole out goodies in exchange for votes.
    Time to get back to the basics people and pay attention to what is “really” going on. Do your homework!

  • http://ariel.org stilo

    I love it. Jerry Brown has become a conservative– overnite.

  • http://www.Mortgage123.com Ron Borg

    @Gary2 – you are so wrong. Don’t think for a minute the rich will sit idly by as the gov’t confiscates their earnings to pay for the government’s own financial ineptitude. Check your history – its the proverbial “last straw on the camel’s back” – when the rich start leaving a country due to excessive taxation. It’s a shame that the government cannot get a handle on its own spending. And look – it’s not really the spending, it’s the overspending that is the problem… they simply cannot properly manage their social programs – millions of people try to take the gov’t for every penny they can get and have simply lost their incentive to work.

  • don

    to Gary2 – You are kidding right? The reason money is clustered at one end of the population is because those are the people that work and save. They are the entrepreneurs that employ millions of Americans and work 60 hour weeks. Those are the people that pay 90% of the taxes so the government can pay welfare, food stamps, aid to illegal aliens and unemployment. Eliminate that 1% and people like you would starve.

  • http://silverdollarcoinvalue.com Morgan Silver Dollar Value

    I was shaking my head in the lunacy that was going on when the DOW was partying at 14,000 back in 2007…only to see it drop to 6600 by March 2009. Now we have a US Gov’t and Federal Reserve creating more lunacy to prop the DOW back up to its current level. There will be a repeat of the March 2009 lows. Complacency has set in once again. Buy Gold Coins, Buy Morgan Silver Dollars, American Eagles (both gold and silver), and Pray.

  • Gary 3

    Gary2, your flippant comment hurts me badly. I understand how people like you have been created even with good intentions, but it makes me sad. If you are really serious, that’s the thinking that made this mess. But, clearly over half of the US voters think that way now. We’re now a nation of Takers and Makers. Guess which is incented to grow? There is just not enough incentive any more for the makers to earn enough to give to the “Gary2″ takers. I “was” once a “maker” and created good jobs for dozens. Yeah Gary2, I made a lot and as I made more I was financially rewarded to hire more – for a while, but the taxes, and ever increasing red tape, and mandatory benefits we couldn’t afford and most of my employees didn’t want, put me under, and everybody lost their jobs. The “Great Society” killed us. I played by all the rules. You too eventually will lose if you haven’t already which maybe feeds your bitterness towards the wealthy. Eventually you takers run out of other people’s money… and us “rich” just give up. I don’t dislike you. I just weep at the ignorance or unwillingness to think it all through rather than just be mentally lazy and jump on political bandwagons that make great headlines, but feed and excite the ignorant and hurt us all.

    However, I think we’ve passed the point of saving it and my comment here makes no difference. It will all collapse. And, once again every person will have to work that wants to eat. We’ll start over. We may even remember that we were once a republic rather than a mere democracy. And maybe even Gary2 might suddenly have a desire to keep more of what he earns, creates, or grows and give what he wants to those he wants to give it to rather than those he’s told to give it to. I wonder.

  • TURPS

    This list is just the beginning, it will go on until the dollar wont be worth toilet paper. Do your self a favour and go out and borrow as much cash as you can get your hands on. And buy silver/gold coins. And when you cant afford to pay it back do what the government does… borrow from peter and pay Paul… and plead innocence when you can’t…. Keep as much metal coins as you can… save them for food. Because the price of food will go up so fast one day a banana will be a luxury item. The future is now my friend. And when things can’t seem to get any worse the Iranians and the Israelis will get into a conflict that will devastate southern Europe… if you don’t believe me go to the library and get a book on nostradamas. Or go onto u-tube and see for yourself…. If you think this cant happen… or won’t happen in America… think about the long road of denial the Jew’s went through in Germany until they were controlled and carted off, it didn’t just happen overnight…. But one morning it was too late.

  • jackie

    For those of you out there who think that the comments on this page are a bunch of conspiracy nuts, I suggest you type in on google these words: videos of the Rothschild bankers. You will get several hits, usually the first 2 hits will be a history of fractional banking, one is narrated by bill still, and is 3hours and 35 minutes long. This video tells how corrupt the fractional banking system is, and how the debt is accumulating huge sums of money to the Rothschild bankers and all the central banks in the world. Fractional banking is a giant Ponz scheme and like all Ponz schemes they collapse in time. America needs to get back to constitutional money, and that is money backed by silver. Gold is controled to much by the Rothschild bankers. America can create money and not have to pay any interest to do it. We have to create the right amount of money for business and peoples needs. If you create to much or to little it causes great problems. We must stay out of wars, which most of our past wars were caused by the Rothschild bankers.

  • Buckeye Copperhead

    @Gary2
    You’re joking, right?

    Tax the rich and spread the wealth? I think that’s been tried before in Russia, China, East Germany, Cuba, Poland, Estonia, Hungary, etc. etc.

  • Spencer

    #18 – have you not heard of baby boomers? Why does this stat surprise you at all?

    On a lighter note, every minute we are closer then ever to the future, so if there ever is a collapse, even if it is a a million years away, we’re closer then ever. Which means your title is garbage and meaningless

  • Richard

    Hind sight is 20/20. Complaining about results is easy. How long before the real focus shifts to causes and solutions thereto?

  • sharonsj

    I’m not not sure the financial collapse will hit, because as we go down, the stock market goes up (thanks to all the money from the Fed). That’s why the media keeps touting a recovery.

    But the rest of us who are not hedge fund managers or bank CEOs are certainly sinking into financial ruin. I have a lot of friends who are going broke or who can’t make enough money to eat and keep warm. Some of them are educated professionals. As for me, if I didn’t have some Social Security (pitiful as it is), I’d be out in the street.

  • alice

    Patchwork, piecemeal, solutions are not good for Europe or the USA. We have to get in front of the problem with both feet, and all we are doing in both continents are crossing our fingers and hoping it’s good enough! We keep borrowing against the future to get us through today, with no idea or guts for a long term solution. The can has been kicked down the road for so long, that any real solution would shock both continents to their core. Maybe a pledge from the people not to revolt, strike, or panic, and just do the patriotic thing (Stay calm) for both of our continents, and take the medicine, would give our politicians the courage to reverse this vortex we find ourselves in!…. BUT,, I don’t think it would be possible, without a pledge from the elite of our continents to do the same! We need the cooperation from all involved, to make the sacrifices needed to save the West from themselves! We are our own enemy, we must come together, we must solve this together, IN GOD WE TRUST,,,, God bless America!

  • Funky Trader

    #1 should be the secret meetings China and OPEC are having to decide the fate of the world reserve currency -WRC… if the dollar fails as the WRC then the bernanke QEx printing press scam will be exposed and end the reign of the fiat USA. A SAD DAY!!

  • Jackb

    It appears both Tim and Gary2 are foot soldiers in Class Warfare and adherents to the “Politics of Envy”.

  • Bruce

    Gary the welfare queen tax the rich tax the rich so you can collect your foodstamps. You are like talking to a spoiled brat who found out he has to work for living and can’t sit on ass all day leaching off Daddy. But being a useless worthless liberal you want Uncle Sam to support your welfare queen lifestyle as you cry about the rich like a spoiled brat.

  • TH

    I understand all the reasons why we should fail but as the worlds reserve currency country it ain’t going to happen until that changes. A weak currency isn’t our (U.S.A.) problem it’s everyone elses ( other countries and currencies ) problem – think about it.

    Market noise is magnified 500% right now, every little piece of news makes people jumpy. Sorry we have to be more complacenet then we are right now. More…

    Last but never least, it ain’t going to happen when you think it’s going to happen. Everyone and their dog thinks the world is coming to an end. So that means its not.

  • http://www.ilovegenerationx.com Alex Reagan

    Tim-Doctors don’t rob you, insurance companies do. I would think if you spent half your life acquiring special skills that save people’s lives, you would want to be compensated when someone wanted to use your services. You are absurd.

    Gary2-
    the income gap is bigger than ever…but simply taking from one group of people to give to another…”spread the wealth” as you say, would be assanine. Who decides what money goes where? Why do you get a claim on wealth another person has earned? How does that work?

  • Mark Collier

    Maybe it is time to re-invest in American manufacturing infrastructure (plant and equipment). Most of the existing manufacturing base of older rust belt cities is now 70 years old.
    Europe rebuilt after WWII and Japan wound up showing us how to make automobiles. Maybe we should rebuild to show the world how it’s done in post industrial society.

  • Trevor

    We can’t tax the rich to get out of this mess. How does taxing the rich get 41 million people off of food stamps or cover the 90% pensions of gov workers? Gov spending (at all levels) is the issue. We can’t pay the public pensions that we have set up and that will cause riots when the fact is finally accepted. Besides if you tax the rich more they will stop spending and lay people off and how will we be better off? My brother in law on food stamps isn’t buying new cars, a home, or eating out at restaurants but the upper middle class and wealthy are. Pay your debts people!

  • http://theeconomiccollapseblog.com AngryCitizen

    I had a revelation this morning. Regardless of whether the Republicans or Democrats are in power, the Republican agenda goes forward. The reason is that the Republican platform serves the wealthy, but the Democrats need to eat at the same trough or risk not being reelected. There votes are purchased by the wealthy as well. Therefore, the wealthy control both parties and promote the illusion that there is a difference – but the reality is that there is none. I am filled with despair when I realize that the U.S. Government and the political party system no longer serve the public interest. 90% of the population have no representation in government.

  • Lee

    Gary: The top 20% already pay 80% of the taxes and the bottom 40% pays nothing. I am in the bottom % and believe that we need the $ to create jobs for the rest of us. Perhaps great incentives to produce jobs (not government jobs) would help our economy. When government intervenes things just get worse: i.e. QE2 and QE lite have only produced a decline in the bond market. Look at the market price, it doesn’t lie.
    Merry Christmas

  • INNERTRADER

    ANYONE that still thinks taxing the rich will save us is out of his mind! Thats how we got into this mess! The bottom 50% income earners only pay 2.5% of the taxes NOW! That is the problem! Socialism has never worked and never will work. The market place always punishes those who try it, period! And we are being punished for it right now! I’m considering leaving the US while I can.

  • http://none Karl

    Gary2,

    Taxing the rich and spreading the wealth will not work and never has worked. This is not your money. You are simply trying to legalize theft.

    Karl

  • Grey Wold

    Back in the late 60’s there was a poster with some very humorous tips on how to survive a nuclear attack, a very real threat back then!
    The last tip was “bend over & kiss your ass goodbye”. Here I am 43 years later, now realizing that it will be an economic collapse & not some nuke that will do us all in. At my age, all I can say is that it was a nice life while it lasted. Perhaps at best I’ll see all of you in the bread line, at worst in the extermination camp!

  • http://www.joke.com Joe Bloogs

    China hasn’t drained anything…the us spent all their money on chinese goods and is not crying they’re broke! Kepp printing guys!! Lol

  • Richard

    Hind sight is 20/20. Complaining about results is easy. How long before the real focus shifts to causes and solutions thereto?

  • http://www.joke.com Joe Bloogs

    But what a bunch of lame @ss signs! No8: U.S. “housing prices have now declined for three months in a row”. Oh no! The sky is falling!!

  • Just Observing

    OK Gary2…..let’s say we stole ALL the wealth from the top 1%….made them live under a bridge…..and give it out to the bottom 50%.

    What the heck are you gonna do when the bottom 50% fritter’s it away like like lottery winnings ? Remember, there aren’t that top 1% to rob anymore next time around.

    You know WHY the bottom 50% is IN the BOTTOM 50% ?

    Because for the most part, they are too lazy and stupid to get out of it. They consistently make poor choices and that keeps them right there. Handing them a boat load of money won’t change that one lick.

    THAT is the fact you whinny “tax the rich” bunch miss every time.

  • TruckerMark

    #26: The average home price in the 140 square miles of Detroit’s central city is down by almost 90% since 2003, from a previous high of almost $90K, to a present average value of under $10K. The experience in Flint, MI is even worse. Even Detroit’s high-end suburbs have seen home values collapse by 2/3rds, and the entire metro Detroit region had 4.5 million residents just 5 years ago. Three years ago, your chance of selling your house anywhere in the 5-County metro-Detroit region was 1 in 200, and in the inner-city it was 1 in 700. As of January of this year, just Detroit’s central city had over 35,000 abandoned homes, and 10,000 abandoned commercial buildings and factories. Check-out the photos of the old Packard plant in Detroit, which in World War II once employed 15,000 workers. Today it is over 98% vacant, and portions of it have even collapsed due to a lack of maintenance.

  • Dave G – Tucson, AZ

    To Gary2 –

    Spoken like someone who has never succeeded on his own merits to reach the status of the 1%…

    Why should the 1% be penalized just so those who have less can unfairly share in their success? If those in the 1% want to share their wealth, and many do, I applaud them. However, our Republic should not compel them to do it against their will.

    Anyone who wants to succeed in America has an opportunity to do so… Carpe Diem!

  • Bob

    I have to disagree with the premise that the wealth is leaving the country. Much of it is staying right here but its condensed into about 6% of the population. With so much wealth controlled by so few, it’s no wonder our political system is being powered by the wealthy. I do agree wholeheartedly with the overwhelming evidence that we, as a people, are getting poorer and poorer. The wealthy controls who runs for office in this country so the chances of electing someone that can change the direction this country is going in, is virtually impossible.

    Because of their influence the wealthy uses our tax money to send our military into countries to further their business empire. They did it in Iraq and are doing it in Afghanistan and a number of other countries but in a more secretive and subtle manner. As a baby boomer I’ll ride this out but it’s my children and definitely my grandchildren will know less and less individual freedom along with more and more deficiency.

  • TruckerMark

    The wealthy among us lived a fine lifestyle back when our marginal tax rates were much higher, and our income disparity was much fairer. The numbers of middle-class jobs are down by 10% since 2000, despite a 10% population increase since then. The top 1/10th of 1% of Americans average 60% of the nation’s entire income, and the top 10% of wage earners, excluding the top 1/10th of 1%, receive more money for their labor than the bottom 90% put together. Why should 90% of Americans have to live like slaves so that the lucky few among us can live like kings? Many of us have worked really hard for many years, but only a lucky few of us have much left to show for their years of labor. In 1970 the average CEO earned 25-40 times what his average blue-collar worker did. Today that figure is over 300 times. Why should anyone who works 60 hours hours per week need to earn more than $1 or $2 million per year? I worked 60 hours per week my entire career, at one time I owned my own business too, and I never made 6 figures ever, though I got close. Remember, for every person earning more than $1 million annually, there need to be a couple dozen people earning less than $30K to balance it, as there is only so much money in our money supply.

    I still believe strongly that the only way out of this for us is going to have to be the enactment of legislation that forces anyone who wants to sell their products in this country to perform a minimum of half or 2/3rds of the labor value of that product here at home. Our good friends the Saudis have such a law, why not us?

  • Ace

    Gary2, why do you bother to read these blogs focused on economics?

    “Tea baggers” is an insult and a clue to your character.

  • Bruce

    And have a merry, merry christmas. All looked over by corporations of loving grace.

  • Richard

    Bob, I agree with much you have written and this question is not meant to attack. Why the willingness to sit back and watch?

  • Bill Marcus

    AND we keep electing the same politicians bought and paid for by the special interests…

    How stupid is the American public

  • El Pollo de Oro

    Gary2: The uber-rich fatcats, robber barons and The White Shoe Boys are going to be heavily “taxed” in The Banana Republic of America (previously the USA), although the “tax” won’t necessarily be collected by the Internal Revenue Service (for my friends in the UK, that’s the American equivalent of the Inland Revenue) or state revenue agencies. In the future, the “tax” that the uber-rich will be paying in the BRA is what I call the Desperate People Doing Desperate Things Tax (DPDDTT), which is quite common in some Third World banana republics. DPDDTT isn’t a “tax” in the traditional sense, and it is often collected at gunpoint or knifepoint through things like kidnapping, carjacking, extortion and violent home invasions. DPDDTT is so common in places like Port Moresby, Johannesburg, Guatemala City and Caracas that the rich need round-the-clock bodyguards and are essentially prisoners in their own homes. Arianna Huffington addresses this problem in her new book “Third World America: How Our Politicians Are Abandoning the Middle Class and Betraying the American Dream.” Señora Huffington doesn’t call it DPDDTT (that’s my term), but it’s the same idea.

    DPDDTT is how folks from Hillbrow (a really nasty area of Johannesburg) “spread the wealth” and encourage the more affluent South Africans to make generous donations to the “Hillbrow fund,” and they aren’t very polite about it. Speaking only for myself….. if I made seven figures, I would much rather live in the Netherlands than in Papua New Guinea or South Africa because in the Netherlands, I wouldn’t have to pay DPDDTT and wouldn’t need 24-7 bodyguards. But the BRA decided to flush its middle class down the toilet (VERY bad decision), and things are going to get really dangerous around here as the poverty, misery, suffering and desperation intensifies. Michael T. Snyder put it best when he said that if Americans are willing to trample one another to death for some bargains on Black Friday, how bad are things going to get when Americans have gone without food for two or three days? Exactly! And when the neo-poor, the desperate, the cold and the hungry can’t find any rich people to kidnap, they will go after what they think is the next best thing: the American middle class (what’s left of us).

    My fellow Americans, get ready for the horrors of DPDDTT, coming soon to a Chicago or a Philadelphia or a Houston near you.

  • Dabooda

    *40% of doctors plan to retire. Our paper “money” is headed toward parity with toilet paper. Atlas is shrugging.
    *Government, with its debt-based fiat money, is the problem, not the solution.
    *Fiat money makes you a slave to the people privileged to print it.
    *Precious metals are the money of free men, who deal with one another as equals.
    *Once the tipping point is past, once the crash is upon us, do not look to government to save you; their only answer is more of the coercion and fraud that caused the crash. Trade value for value with honest men, and guard your own heads. Government always was a bad idea.

  • Bolobaby

    Oh Gary, you ignorant fool. You need to start familiarizing yourself with something we conservatives call “facts.” Start with Hauser’s Law. It basically proves that we can’t soak the top 1% like you propose:http://www.muditajournal.com/wp-content/uploads/hausers-law.gif

  • Ballsy

    Gary, your a clown. The “Rich” are already rich. How are you going to tax their “income” when they don’t HAVE or NEED income. They are already RICH!!! Open your eyes man. You are professing an age old marxism basic philosophy. The “taxing the rich” ONLY hurts the middle class who are still earning income to feed their families.

  • El Pollo de Oro

    Gary2: Now don’t get me wrong. I want entrepreneurs to prosper, grow their businesses, make tons of money and create jobs. Hell, I want that computer geek in his dad’s basement to invent something terrific and get rich doing it. But that’s upward mobility, which is what you have in developed capitalist countries. This isn’t a developed capitalist country anymore. It’s a fascist Third World banana republic under the iron boot of a corrupt, thieving oligarchy, and in Third World banana republics, desperate people do desperate things. In the words of Gerald Celente, “when people have lost everything and they have nothing left to lose, they lose it.” They also collect the Desperate People Doing Desperate Things Tax (DPDDTT) and can be really nasty about it.

    And if people think the crime problem is the BRA is bad now, just wait. God help The Banana Republic of America.

  • lostinmissouri

    leave Gary2 alone. He is just a product of public education that spews the socialist agenda. He grew up believing he is “owed” a living.

    Every country that has gone down the path of “taking” from one citizen to “give” to another citizen, has ended the same way….they disappear.

    When half of the population believes the other half “owes” them, then it’s over. John Galt becomes a common name. The “producers” will just sit it out.

    I believe America is almost, at that point, now.

  • http://economiccollaspe Mike

    TO INNERTTADER
    Try to leave the USA ? Better investigate the EXIT tax…..its like the Death tax. You still get screwed.
    MM

  • El Pollo de Oro

    Bob: Very good points. The problem with this country is not the absence of wealth, but the fact that a tiny minority of corporate fatcats (many of them bailed out by the taxpayers) are getting wealthier and wealthier while most people are becoming poorer. In want to see innovative entrepreneurs get rich, grow their businesses and create good jobs. Instead, we’re seeing Third World conditions, which is really tragic because so many people immigrated here to escape Third World conditions.

  • http://www.selling-a-business-without-stress.com Martin

    We in the west have lost our way. We have far to many people trained in the redistribution areas, and plying their trade doing that. We have far too few people trained and working in the production areas of both valuable goods and services. Compared to China how do we fare in producing engineers and others trained in hard sciences and mathematics? People that add to the overall pie. We certainly outproduce them in the areas of sociologists, womens studies, psychology, and other completely unproductive areas. But they add nothing to the overall pie.

    We need to discontinue all these redistribution activities and training people in them and get back to basics. Then we will again compete on a level playing field with China and other debtholders. Of course we could wait for them to catch up with us in redistribution professionals and activities. But we might not live that long.

  • B

    Pixie,
    It’s not the “DAMN LAWYERS.” It’s the system. The lawyers only interpret the system that is already in place and the judges can only rule on what the law allows! Blaming lawyers only shows that people are not familiar with the laws. This is where the change needs to happen. Also, the insurance companies have made it very appealing to sue — because they keep paying the corrupt Plaintiffs off! If the Plaintiffs were held to the fire and forced to prove their case, then a lot of lawsuits would go away and people could do their jobs! This is not the fault of a lawyer!

  • Margaret

    What America do you all live in?

    The bottom 80% of our country only owns 15.5% of the wealth ..as fun ad it is to shout about socialism, America is about as far away from socialism as it’s ever been and is realizing that such an income inequality makes it nearly impossible to finance a federal government. realistically the only way to finance our perpetual wars IS by taxing the rich, because indisputably the bottom 2/3rds of the country simply don’t even have enough money for their taxes to make a difference. The wealthiest one percent are able to orchestrate an inordinate amount of control over the united states government, and wage wars that the majority of the population is opposed to. They are just beginning to realize that with the ability to accrue such an absurd amount of wealth, power, and influence, comes the responsibility of funding the policies they advocate – because the remainder of America has a meaninglessly small income in comparison ( due to the sharp income inequality that simultaneously allows them to get so rich)

    Maybe this whole problem would go away of all the money willing to be spent lobbying the government and campaigns was instead used for the government itself.

    If you are so enamored of the rare indiviual’s success at the expense of the many,

  • Ed S

    Most of our current economic problems stem from the actions of the Federal Reserve and can be traced back to it’s beginning in 1913. Contact your repersenitive and demand that congress audit the Fed.

  • mondobeyondo

    Taxing the rich would be ineffective at best.

    Why punish people (even further) who have given their time, energy and money to pursue their American dream?

    And taxing the poor would unleash the biggest public revolt of all time.

    Taxing anyone, anything, is a rather moot point though. We’re so far in debt, it doesn’t even matter. We’ve kicked the can down the road, off the cliff and into the canyon.

  • Gene

    Why do people keep quoting Ayn Rand principles, and blame all our problems on taxation? If that were true, then why, with the tax rates lower now than ever in our country, are things going so poorly? The Bush tax rates are still in place, and will be for the next two years. Why aren’t things doing great? Maybe because that Ayn Rand, trickle down garbage doesn’t work!!!

  • Maria

    Richard,

    I also came to this blog looking for answers and solutions. I’ve looked for months on the www. It’s too late to “fix” the current world economy. All that remains of this system is the horrible reckoning. We haven’t gone through enough pain yet to stop the blame games and focus on new solutions.

    I wonder if that day will EVER come.

    I wonder which countries will survive this stupidity of mankind.

    I wonder what life will be like in this world for my children.

    And I pray.

  • Bob

    Here’s a great video on the economy, what’s coming next and how to prepare. Check it out now…the video goes offline this Sunday.
    http://www.wakingupamerica.com/theelevationgroup

  • Dave

    Instead of putting all of our lives in jeopardy and destroy our society, why won’t the governments not only stop new spending entitlements, but cut the current entitlements to the bone? I guess it would take a liberally minded person to try and argue why we shouldn’t stop spending and not cut entitlements. BTW, why not stop funding the IMF….

  • http://www.hattrickassociates.com Jimbo

    Completely “redistributing” wealth doesn’t work, correct. Neither does the top 1% making 5,000x or 10,000x the annual salary of those at the bottom. Sorry, you can dispute that all you wish, but in history, those folks with millions upon millions – as 50% or 60% of the country quite literally starves or is homeless – things do NOT turn out well for the wealthy. In France, many of the rich (tens of thousands!) actually lost their heads. Huge protests, riots, home invasions and murders, massive civil unrest (think pitchforks and torches!) are probably on the way at some point in this country’s next 5 years. Deservedly or not, the rich on Wall Street and DC, etc. will eventually pay for the fact they have made billions and billions in salary and huge bonuses – comprised of taxpayer dollars (in bailouts that would have otherwise bankrupted their companies – shifting private debt into public debt) – while about 20% of the country is unemployed, most homes are underwater (or soon will be), 42 million are on food stamps (and sure to rise, until they simply no longer work) Imagine when every shelf in the grocery store is empty – for weeks. I wouldn’t want driving around town in my new Mercedes at that point! But that’s just me.

  • L Tecolote

    The bottom 50% of the population dies fairly early (mostly of diseases induced by their own bad habits) but the top 1% survive to a ripe old age.

    That’s not fair! Shouldn’t the government take the lives of these selfish few survivors, “harvest” and “redistribute” their organs to the poor bottom 50%, whose hearts, lungs, and livers are ruined all too early?

    That’ll make the average lifespan longer for for everbody, won’t it? Maybe not, but that plan makes every bit as much sense as the redistribution of wealth plan. After all, your wealth is simply your saved up life, in material form.

    I’m tired of hearing sheep complaining about the wolves they hired to keep order. If a few scammers have figured out how to buy your government — to get laws passed that enable them to steal from you “legally” — maybe you’d do better to turn your attention to the prostiticians who promised you so much, robbed you to pay for it, then delivered it to someone else.

    In a self-governing nation, that’s what sovereign, intelligent people do. If your government tells you that you’re not self-governing anymore — that they have decided to be your boss instead of your hired help — what do you intend to do about that, Citizen?

  • vw

    Tax the rich…don’t tax the rich…it doesn’t matter when will anybody admit that Afghanistan and Iraq are the real problem…stop the wars, or they will stop us.

  • ArtieEm

    @INNERTRADER:

    1. We had higher tax rates for the rich in the past, and had a decent economy. Giving the rich better tax breaks over the recent many years has not improved the economy, and aruguably help put us into this mess (They save thier money or store it overseas).

    2. A very mild brand of Socialism is working just fine in Western Europe (e.g., no one goes bankrupt because of medical bills).

    3. You are correct that the unregulated
    “market place”, controlled by the corporate/banking sector to create jobs in China is indeed punishing the American middle class.

  • ArtieEm

    Wow, it is nice to hear from all the loyal serfs here.

    “It’s your money my lord, I don’t begrudge you for it. What’s that? You require an extra bushel of potatoes this month? No problem Sire, I’m happy to do it. By the way, me daughter needs an operation, is there anything you could do about that? What, the stables need cleaning? Yes Sir!”

  • http://boccebrew.com Brewfo

    My sister has lived in Spain for 46 years working for a Spanish corporation who represents Boeing ( MacDonell Douglas ). She has seen first hand the worlds insatiable greed that has led us to this juncture where the U.S. has lost its trade advantage forever. A conservative person ( in the monarchical sense of the word ) she has complained bitterly of George Bush’s god damned pseudo fascist Homeland Security apparatus that demands she fill out reams of forms to get a spare part for our FA-18 fighter bomber while the Spanish govt gets a knockoff from Kazakhstan or the Czech Rep. over night.

    As some may know, NATO pilots ( Spaniards among them ) flew sorties over Belgrade to stop the fighting in the Balkans. An army is supposed to bring PEACE and enforce it. In the 2010 national campaign, not one candidate spoke out for or against the wars in Iraq or Afghanistan. Rather it was about tax cuts, financial reform, jobs, deficit spending, loss of homes, cry baby ,cry baby. This country would rather drink the blood of their own children than lose their material well being.

    Seems Rev Wright had a point.

  • http://boccebrew.com Brewfo

    Organized crime is still the best business model.In times like these, it’s time to dust off Arnold Rothstein’s truly genius work, the dark American Dream.
    I urge all the citizens of this nation to pick up a trade to undermine the ruling elite whether they be right or left, corporate or government, religious or secular.

  • Kate

    Does anyone get why the stockmarket is soaring right now? The AP said today that some market analysists think 2011 will mark a DJIA record. WHY??? Is everyone on Wallstreet insane? It is the piece of this crazy puzzle I have not figured out yet.

  • Libre

    All of your arguments do not answer the basic question: how can an economic system that needs a 4 % to 5 % growth rate year after year survive in the long term ? At a 5% growth rate, the world economic outpout doubles every 14 years, we’v doubled our production many times since the industrial revolution and there was always room to grow.

    Standing where we are right now, does any one beleive we can double out many more times? Doubling our population, our oil production , our water consumption, our food production, our base metals or anything else forever while living on a closed enviromenet called Earth ?

    I thinks its clear that this system although its has elevated the human species to the pinacle of civilisation can not last much longer. It is therefore logical and intelligent to start thinking about a new foundation for the human race’s future on Earth as if we just keep going like it is, we will no longer have choices. Change will be forced on us, call it chaos, anarchy, famine revolution, destruction all could set in rapidly and my prediction is that it will be within our life time.

    We ought to reverse to a much simpler way of life as the times they are changing and fast !

  • Ted Lazane

    forget all the yapping and blogging and get busy planning and preparing, because their is another dark age coming in this world of a Biblical proportion, and don’t forget to exchange a your stacks of frn for some gold and silver before you can’t.

  • Gary2

    It is not theft when we tax the rich. It is OUR (working people/poor people) money that they stole by not giving any productivity increases to workers. It is not theft to take back something that belongs to you and that was stolen from you.

    The rich pay more taxes because they have all the money Duh! Even a republican can see that. You are also only talking about federal taxes, when you factor in everything else. The rich DO NOT pay more than the rest. Ever hear about the wage cap on ssi taxes? Or the low capital gains taxes? I love how conservatives spin “facts”. I guess the study that just came out saying fox news viewers are dumber than the rest of us is true. Most folks already knew that so there was really no need for a study.

    I can’t remember who said this but “wherever you see great wealth you see a crime scene”

    The wealthy got that way by exploiting people with low wage jobs etc. Look at the profits wal-mart/McDonald’s etc make by paying poverty wages.

    Where are the rich going to go? Europe etc taxes then much more. Let them leave! They are the problem and not the solution. Our country will of course take their ill gotten wealth when they leave as it was our country that enabled them the opportunity to get rich in the first place. Time to pay their dues.

  • Ex-engineer

    To lostinmissouri:
    I don’t think Gary2 believes everyone is “owed” a living. What I believe is that in real life not only is no one owed a living, no one is owed opportunity! That’s right, and also no one is owed health, safety, security or liberty. You have to fight for all of those things, sometimes to the death if necessary. If you are willing to live without those things, you become a serf.

  • Gary2

    This is on Micheal’s other blog “the end of the American dream” and was posted by MP. I copied it here to debunk all the right wing garbage of socialism failing.

    Socialism hasn’t failed in every instance. Read this article: http://www.forbes.com/2009/05/05/world-happiest-places-lifestyle-travel-world-happiest.html The top 3 happiest countries have a social system… Being Dutch myself I can tell you we have high taxes for the people who can afford it and the basic necessities in life for all; housing, education, unemployment and help in general. We’re not perfect either but let’s try to leave no one out. We’re no communist country either. Social is not a bad word. You’re a rich person in the Netherlands if you pay 50% tax, believe me. Open your mind and look what other cultures are doing and adapt it to your culture…

  • Gary2

    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”.

    Well said from working life.org-I may not always articulate my posts as eloquently as I would like so when I come across someone who says it so well I wanted to share it but not pawn it off as my own post. I totally agree with this.

  • Roland Hopmans

    Different day, same politicians elected, further into debt and all looking for a way out, nothing will change, so get out and set up in a nice place, Cayman islands, Lichtenstein, or somewhere where you dont have to feel like you have to defend your position, forget it and move on, pick a better place than the USA to live !

  • Gordon

    OOPS! All of the free market don’t tax the rich people have forgotten the wonderful bonuses the bankers and their traders have “earned” (while doing nothing productive)that you dear taxpayer funded in the bank bailout.
    The middle class should be angry, very angry

  • Charles de Gaule

    What some here are overlooking, perhaps, is that a lot of the uber-wealthy 1%, who “deserve” all the money they’ve “worked so hard” to make are actually committing theft and fraud every single day – and getting away with it. They bribe politicians. They write, and re-write the law to suit themselves. They have blood-thirsty lawyers that get them out of having to pay damages to people they killed or made sick because their products are or were untested, or they (oops!) dumped a bunch of toxic waste somewhere without bothering to spend money on appropriate disposal. Big agra and big pharma now control the FDA. This is but one example of the corruption rife in Washington’s so-called “regulatory” agencies. If you feel safe taking prescription drugs or eating food in America, you are living in a dream world.

    Furthermore, these elitists? They don’t give a rats ass about this country or what it was supposed to stand for. If the United States dies, what does it matter to them? THey are internationalists, not patriots. They want to sell jobs to the lowest bidder and goods to the highest and the government is so corrupt, it goes ahead and panders to this. Through “free trade” these people would push the standard of living in this country down to what it is in the 3rd world. Want jobs? Well, I guess you American’s will have to stop being so snobby and work for $.20 an hour, like they do over in Bangladesh. That’s okay, right? You can just work 23 hours a day. Pull yourself up by your bootstraps, and all that. Show us how tough you are!

    Those brainwashed by the gospel of “deregulation” need to wake up. Corporations are profit-making entities. They do not have consciences. Without regulation, they can and do destroy health, property, and lives. We don’t have child labor laws, paid vacations, and a 40-50 hour work week because corporate bosses are “really nice”. We have them because (whatever they may have become later on) the labor movement fought for them.

    Redistribution of wealth is, of course, a ludicrous suggestion. How about patriotism, instead? Patriotic policies that protect the middle class such as Glass-Steagall, infrastructure development and large scale energy programs, science-drive programs, sovereign credit. Whenever a country uses sovereign credit to create needed infrasturcture, the investment pays for itself, and creates additional jobs as well. Stop drinking the mainstream media and economics textbook kool-aid and read some history.

  • Nickelthrower

    Greetings,

    I’m guessing that since only 3% of Americans even own passports that many of the people running their silly mouths about “socialism” have actually never left the country and can only repeat whatever Fox News tells them to say.

    Germany is about as socialist as you can get but that little country (about the size of Arizona) out exports China. The people have excellent health care, education and public transit and pay for it all up front. The people enjoy 40+ paid holidays a year and also enjoy a 36 hour work week. Labor Unions are extremely powerful and, as a matter of fact, labor unions must have a voting seat on all boards of directors for all corporations.

    Of course, you wouldn’t know that because you’ve never left the country. Oh yeah, before someone gives me any crap, I lived and worked in Germany for 5 years and I also own a home in Northern Italy near Venice (the Italians get 42+ paid holidays). The Europeans are aghast by our low standard of living, our terrible quality of life and our willingness to believe whatever the television tells us to believe.

    Americans are very silly people and are about to realize what happens to fat, lazy, ignorant, uneducated people that believe whatever someone tells them to believe.

    Good luck idiots.

  • Typical American Corporate Thrall

    Glad to see so much loyalty to Lucifer’s corporate elite here. Remember your place: to serve the capitalist elite. Kneel and obey, worms!

  • Tim Hammond

    Wake up world. This is setting the stage for the Antichrist to come on the scene and take over. We are in the end times of the Bible and financial chaos plays a large part. Read Rev 11:1-2 very carefully. It proves that the 7 year Tribulation starts the day Palestine is recognized as a nation with Jerusalem as its capital, which is the number one agenda in the UN right now. It will happen in 2011. We are in a 70 year countdown that started on May 14, 1948 when Israel became a nation. 1948 + 70 = 2018 but then come back 7 years and you are at 2011. We are under attack spiritually, emotionally, physically, and financially. You have one hope and that is in Jesus Christ.

  • mogar

    You cannot spread wealth. You can spread misery.

  • mogar

    Jimbo you can tax 100% of all the income in the US and confiscate all the wealth of the hated rich and you won’t change a thing except run off any international investment in the US. That is a fact not opinion.

  • LivedAllOverTheWorld

    To Jimbo – you make some great points!

    To the Ayn Rand types – it’s not socialism when people are dying in the streets from starvation.

    I lived in the Netherlands for a few years. They have a socialist system. They have not “vanished from the face of the earth.” One of the biggest problems in America is the incredibly ignorance of its citizenry.

  • Norrin Radd

    We could clean up 60% of the US economy with three actions:
    1. Put the Federal Reserve and the money supply under the control of Congress, as it states in the Constitution (not in the control of for-profit bankers as now);
    2. Back our money using a market-basket approach, with about 15% gold, 30% silver, 15% other mining commodities, 15% agriculture, and 15% energy.
    3. Eliminate the IRS and put in a national sales tax. That would get the multi-billion-dollar “recreational” drug industry to pay taxes.

  • Richard

    Maria,

    I don’t think anyone could have stated what you just did any more accurately.

    I believe there is a viable way to restructure the US economy and give us all a fresh start. A solution relatively simple which all Americans could help implement without much effort. Unfortunately time is of the essence and to quote you “We haven’t gone through enough pain yet to stop the blame games and focus on new solutions”.

    I too pray.

  • flylowguy

    Well, isn’t that a dismal picture?
    Maybe a growth business would be a long term freezing plant/warehousing operation so people could voluntarily put themselves in suspended animation until things got………’better’.

    At the rate we are going, there will be no way for many people to live through this. So ‘suspending’ them is at least theoretically better than putting them through starvation and exposure until death.

    Then again, maybe 2012 is really a good thing in disguise.

  • William

    NO cuts to Social Security until the US military is brought back from foreign bases and the DOD budget is reduced by $100 Billion a year until it is down to $400 Billion. We can NOT afford EMPIRE——never could.

  • PD

    America ceased being a country and became a wealth vehicle. They are killing this particular goose. When it goes down, we will return to the old days of survival of the fittest.

  • pedro

    Let’s not worry about ridiculous Mercedes driving fools…life is so full anywhere you care to look… it’s every moment u live… Simplicity is the new philosophy…

  • Matt

    Gene,
    It’s probably best to know what you’re talking about before leaving comments. You ask the question: “why, with the tax rates lower now than ever in our country, are things going so poorly?”
    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?

  • mc

    been looking into those 10,000 dollar condos and get hard luck storys of health care costs, disabilities and associatives HOA.s run off with the money for repairs, and the remnant taste of alcohol,fast women, and ….renters…….not sure what “made” the neighborhood!

  • mondobeyondo

    It won’t matter.

    Tax the rich, tax the middle class, and the poor could offer their first born child to the government. It won’t matter.

    All your taxes are going into a black hole.

    Bill Gates could give every red cent in his possession to the federal government, and it still won’t be enough to pay for the 2010 cost of the war in Afghanistan. And don’t forget our future obligations. Social Security, Medicare, and Medicaid are the biggies. How ’bout we completely eliminate all three? (You’re going to have a lot of seniors asking for blood if you even suggest that.)

    What to cut, then? How about some useless government agency like NASA? Sure, we could dismantle NASA. And it wouldn’t even make a dent in the budget.

    Our debts are beyond astronomical, they are unsustainable, and they are beyond repair.

  • mondobeyondo

    El Pollo de Oro is correct.

    There is immense wealth in this country. Our Great Plains is the breadbasket of the world (well it used to be).

    But like any good government/corporate bandits will do, they squandered the vast wealth for their own personal gain.

    Africa has incredible natural resources. Fertile soil, minerals, gold, diamonds. So why on earth is so much of sub-Saharan Africa dirt poor? (no pun intended)

  • Don K.

    It’s typical of businesses today not to make clear the need for an email address to get a comment published. So here goes again after they refused me the first time. It says address required not email address required. Pretty dumb huh? Most of the comments center around the federal taxation system. People making $100,000. or less shouldn’t be paying any federal taxes. This enables that income group to fund their retirement and health insurance programs. If Congress would set a livable annual income amount of $41,600. and adjust it to the real cost of food, housing and essential services such as water, sewage, electricity, etc. then a reasonable level of consumption would be guaranteed and the general welfare of America would have a solid base and job growth would be essentially guaranteed. In addition, the federal fiscal and monetary policies should be geared to supporting the growth of the free market system. The Chinese have not only stolen our free market enterprises they have adopted a central government financial support of their free market system with a heavy hand to ensure monopolies are minimal in their free market system. And they tax the high income earners heavily to ensure the central control of the general welfare is adequately funded. Their consumption of goods by lower income citizens is rising at a high rate. Soon they will dump Walmart and such retailers because they don’t then have to buy U. S. Treasury debt which will probably default in the short run. They just won’t need to sell us their low, low priced goods made by slave labor anymore besides the Commies are afraid the poor will revolt if they don’t pay more. In summary, we need to dump the military gravy train almost totally[$300 billion per year is plenty to provide for the common defense of America]; we need to fund the rebuilding of America’s infrastructure pronto; we need to require our banks to finance the rebuilding of our manufacturing enterprises as well as funding the new enterprises that will be required to put 95% of Americans of all ages back to work which will require a responsible, accountable, and efficient monetary system[the Federal Reserve System is not responsible, accountable nor efficient so must be dumped]. This endeavor to retake America by ‘We The People’ is possible because it is a must if America is to become a thriving, progressive entity once again.

  • cindybin

    Our so called poor live much better than half of the other worlds people. If things aree so bad for them, why not deport them to Africa, Cuba or Mexico where they might find it better to their liking? Personally I am tired of being forcefully made to pay taxes to support them.

  • http://www.pathtoasia.com Rhea

    Another burden to carry… The financial system as a whole is already at its worst and the government has already known about this, even before the Lehman announced its bankruptcy. The problem is they have just taken it for granted and is confident that they can use consumer’s money/consumer credit to increase its fake assets. To top it all, the American government does not have the political will to be honest with the American people about our financial condition. And so effects are pouring in and is passed on to us, working majority.
    We help Americans find jobs and prosperity in Asia. Visit http://www.pathtoasia.com/jobs/ for details.

  • Shut up

    @tim hammond
    Keep your fear mongering to yourself you inferior. Your words are so wide that it can be used to describe anything even the bark of a dog doen the alley. Si dont tell us exactly where our hopes are when you can’t be exact in quoting those words.

    This is a place for human superiors and intellects. Not inferiors like you fear mongering. So shut up take it else where to your medieval dark ages. Don’t try to resurrect your medeival powers. They’re gone forever never should have been allowed in our supreme human world.

  • Denise Wright

    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.

  • ramrod

    Lets start the cuts. UN expenses, government salaries and positions, government foreign travel and fringe benefits, pork barrel program. Just start in Washington!!!!

  • Lennie Pike

    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.

  • http://norm Norm

    Guys.Don’t worry.Obama will fix everything

  • apache

    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.

  • Westcoastliberal

    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.

  • MajorDrama

    Aint Capitalism Grand?!!

  • Gary2

    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.

  • Jeff N

    @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]”

  • FOX

    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.

  • Rich W.

    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.

  • GCG

    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.

  • PuppetKing

    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.

  • Gary2

    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.

  • Gary2

    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”.

  • LMoore

    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…

  • http://www.mat-rodina.blogspot.com Stanislav

    @ 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.

  • Sienna Sacha

    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.

  • TooBad41

    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.

  • Grob Hahn

    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

  • m

    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.

  • Richard

    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.

  • http://thegreatrecessionconspiracy.blogspot.com James Taylor

    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!!

  • Marq

    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.

  • Daniel

    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.

  • mpagarwal

    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!

  • TheMan

    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.

  • Marcus

    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!

  • http://www.youtube.com/watch?v=lu_VqX6J93k Gail Troyer

    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

  • http://riffenberg.wordpress.com/ Karen

    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.

  • ChiefGeorge

    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.

  • ChiefGeorge

    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.

  • Michael Purling

    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.

  • deege

    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?

  • ROY

    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?

  • ki.ku

    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.

  • http://filmexpeditions.com Bonnie Ember

    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

  • Rock

    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.

  • Virginia

    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?????

  • PrepareNow

    #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.

  • Mark Q. Petola

    “… 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?

  • Ken

    This “Karen” talks about stereotypes (including opinions). She misses the point that stereotypes are mostly correct

  • andy

    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?!

  • MaryBethC3

    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.

  • Kim

    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.

  • joseph leonaitis

    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

  • joseph leonaitis

    The gold bubble is next to burst. There is not enough gold to cover all the paper purchases.

  • CHARLIE BENSON

    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.

  • http://christiewall.co.cc/ Christie Wall

    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?

  • Steven Anderson

    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.

  • DG

    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.

  • Pingback: Friday Five for November 25 « Thoughts on Business and Faith()

  • Freedom Lost on 911

    Ronald Reagen stated he “would turn America into a consumer nation” no one was listening to the words, just clapping and cheering, now they wish they had listened to their “Great Leader” who assisted in the destruction of America as we knew it! Just keep listening to politicians and keep reaping those awsome socialist benefits like unemployment and loss of a home…and I always considered myself “not as bright” as some educated people..but hey..I’m a freeking GENIUS considering how most Americans have been dumbed down “by their school indoctrination centers”!!!

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