The Endless Debt Spiral: Barack Obama Proposes A 3.83 Trillion Dollar Budget For 2011

What would happen to your household if it spent $9,000 every single month but only brought in $6,000 every single month?  Well, you would quickly accumulate a massive amount of debt that you would very soon not even be able to pay the interest on.  You would probably have to end up declaring bankruptcy.  So if it is not okay for your household to spend like this, then why is it okay for the U.S. government to do it?  On Monday, Barack Obama unveiled his proposed budget for 2011.  It calls for 3.83 trillion dollars in spending, and it projects a deficit of 1.3 trillion dollars.  In other words, one out of every three dollars that the U.S. government would spend under Obama’s proposed budget would be borrowed. (Read More...)

The U.S. Senate Votes To Pile 1.9 Trillion Dollars More Debt On To Our Children And Grandchildren

On Thursday, the U.S. Senate voted to raise the U.S. government debt cap by another 1.9 trillion dollars.  This is another 1.9 trillion dollars that our children and grandchildren will have to pay interest on for the rest of their lives.  The U.S. national debt is rising at a rate that is so reckless and so catastrophic that it threatens to destroy the entire U.S. economy.  It is now becoming apparent that we have created a financial hole that is probably mathematically impossible to get out of under the current system.  Average Americans are becoming increasingly angry at the U.S. government for getting us all into this colossal financial mess.  In fact, one very strongly-worded letter to Barack Obama from a 95 year old World War 2 veteran is causing quite a stir all over the Internet.  More people than ever are waking up and are realizing the the United States is headed in the wrong direction and has been for a long time. (Read More...)

What Is He Up To Now? George Soros Declares That Gold Is Now “The Ultimate Bubble”

What in the world is George Soros up to now?  At the 2010 World Economic Forum in Davos, Switzerland Soros recently made the following statement: “When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.”  So is Soros trying to scare people away from gold?  The truth is that the price of gold did rise about 40 percent last year.  In the current economic environment, there has been a flight to safety as nervous investors have flocked to precious metals such as gold, silver and platinum.  But are these bad investments that are overvalued right now?  Not at all.  The truth is that gold and silver are just about the only things that have held their value over the past 100 years.  An ounce of gold could buy you a really nice suit 100 years ago and an ounce of gold can buy you a really nice suit today.  But now that it is starting to come out that there could be massive reserves of gold and oil in Haiti, we should expect the ongoing manipulation of the precious metal markets only to intensify.  The truth is that the big dogs like Soros want everyone else to get out of gold and silver so that they can swoop in and get more for themselves. (Read More...)

A Record Number Of Young Americans Are Unemployed – Are They Just Lazy Or Are There Simply No Jobs Available?

A record number of young Americans are now unemployed.  According to a new report based on U.S. Census Bureau data, only 26 percent of American teenagers between the ages of 16 and 19 had jobs in late 2009 which represents a record low since statistics began to be kept in 1948.  So why is this happening?  Certainly it is much harder to find a job today than it was just 3 or 4 years ago.  But are there other factors involved?  Even when the economy was still flying high back in the middle of the decade, an increasing number of young people were moving back in with Mom and Dad after they graduated from college.  Is it our fault for raising kids who simply cannot adjust to the real world?  Is society to blame for all of the young Americans who believe that everything should be handed to them on a silver platter without them having to work for it?  Or would young Americans be more than willing to step up if there were good opportunities available to them? (Read More...)

10 Heartbreaking Stories Of Unemployment And Economic Despair In America

At times it can be really easy to get caught up in the data and the statistics of the economic collapse and forget that there are millions of very real stories behind these numbers.  The truth is that millions of Americans have had their lives absolutely devastated by this economic crisis, and things are only going to get much worse in the years ahead.  Many Americans who find themselves out of work don’t even understand what is going on – all they know is that they desperately want someone to give them a job and that they will work night and day if they could just get a chance.  In fact, employment is the number one issue on the minds of American voters right now.  A new poll by the Pew Research Center reveals that the two issues that Americans are most concerned about at this moment are the economy and jobs. (Read More...)

Economic Black Hole: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy.  Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly.  But this time around that is not the case.  The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover. (Read More...)

The Feds Were Quick To Bail Out Their Friends At The Big Banks But Are Letting All The Small Banks Die Like Dogs

The Feds Were Quick To Bail Out Their Friends At The Big Banks But Are Letting All The Small Banks Die Like DogsThe massive federal bailouts that Congress passed in 2008 and 2009 were supposed to stabilize the banking system and breathe new life into the U.S. economy.  We were told over and over that the major banks were “too big too fail” and that the U.S. government was helping “Main Street” by giving massive bailouts to Wall Street.  But unfortunately all that is not working out too well.  Instead, the major banks (which got the bailouts) have cut their collective small business lending for the seventh month in a row while the feds are letting all the small banks die like dogs. (Read More...)

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