Well, it is time to raise the debt ceiling again. Right now we are about to hit the current limit of $15.194 trillion and the Obama administration is going to ask that it be raised by another 1.2 trillion dollars. Unfortunately, Congress has already promised not to stand in the way, and so soon the debt limit will be raised to a staggering $16.394 trillion. Considering how much debt we have already placed on the backs of future generations, what is another 1.2 trillion dollars? After all, if we are going to sell our children and our grandchildren into debt slavery, we might as well go all the way, right? Such is the thinking in “the Obama Nation”. During “the Obama Nation”, the federal government has already accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office. Of course the Bush administration was nearly as bad at piling up government debt. Between Bush and Obama (with a big helping hand from the Federal Reserve), they have done a pretty good job of wiping out the financial future of the United States. If there are future generations of Americans, they will look back and curse those that did this to them. It is absolutely immoral to steal trillions of dollars from future generations. Unfortunately, there are very, very few members of Congress that are even objecting to this madness. (Read More...)
The Worst Time Of The Year?
For a lot of Americans, this is the worst time of the year. If you don’t have any money, it can be really hard to hear others go on and on about how good “Santa Claus” was to them this year. For many, there is simply not much to be cheerful about as the year ends. There are millions of people in this country that do not have a “happy family” to spend the holidays with, there are millions of people in this country that do not have any money to spend on gifts, and there are millions of people that are either already sleeping in the streets or that are in imminent danger of losing their homes. It can be really difficult to feel “holiday cheer” when you are freezing cold and you don’t have any food in your stomach. The realization that you are not going to enjoy any of the good things that other people get to enjoy this time of the year is enough to push many people over the edge. Yes, for most of the country this time of the year is filled with food, family and fun but for millions of others this time of the year tends to magnify despair, depression and thoughts of suicide. If you are blessed as we get ready to enter 2012, please remember those out there that are really hurting. If someone does not help them, they might not make it to 2013. (Read More...)
A Very Scary Christmas And An Incredibly Frightening New Year
Can you hear that? It almost sounds like a little bit of peace and quiet. This year, the holiday season has been fairly uneventful, and for that we should be very grateful. But it isn’t going to last long. 2012 is going to be a much more difficult year for the U.S. economy and the global financial system than 2011 has been. So if things are going well for you right now, enjoy this little bubble of peace and tranquility while you can. Because while things may look calm on the surface right now, the truth is that this is a very scary Christmas for financial professionals and world leaders. Most of them know how fragile the global financial system is at the moment. Most of them know that we are living in the greatest bubble of debt, leverage and financial risk that the world has ever seen. As I wrote about the other day, world leaders would not be throwing huge bailouts around like crazy if everything was going to be just fine. The truth is that we are rapidly approaching another financial crisis that may end up being even worse than the horrific crash of 2008. (Read More...)
If A Global Recession Is Not Looming, Then Why Are Bailouts Flying Around As If The End Of The World Is Coming?
I have learned that watching what people do is much more important than listening to what they say. Back in 2008, financial authorities in the United States insisted that everything was gone to be okay. But we all know now that was a lie. Well, right now financial authorities in the U.S. and Europe are once again trying to assure us that everything is under control and that we are not headed for a global recession. Unfortunately, their actions are telling a very different story. All over the world, bailouts are flying around as if the end of the world is coming. Governments and central banks are stepping in with gigantic mountains of money to prop up bond yields, major banks and even stock markets. What we have seen over the past few months has been absolutely unprecedented. So why are such desperate measures being taken if everything is going to be just fine? Unfortunately, debt problems are never solved with more debt, so these bailouts really aren’t solving anything. We are still headed for a massive amount of financial pain. It would just be nice if the authorities would quit lying to us and would actually admit how bad things really are. (Read More...)
Getting Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline
Is America in decline? That is a very provocative question. I have found that most people that hate the United States are very eager to agree that America is in decline, while a lot of those that love the United States are very hesitant to admit that America is in decline. Well, I am proud to be an American, but I cannot lie and tell you that America is doing just fine. The pieces of evidence compiled below are undeniable. Our economy is deathly ill and is rapidly getting worse. We were handed the keys to the greatest economic machine in the history of the world and we have wrecked it. But until we are willing to look in the mirror and admit how bad things have gotten, we won’t be ready for the solutions that are necessary. The truth is that there are things that we can do to reverse the decline. It does not have to be permanent. We have gotten away from the things that made America great, and we need to admit that we are on the wrong path and start fixing this country. But if we choose to continue down the road that we are currently on, it will lead us into the darkest chapters in American history. (Read More...)
North Korea: The Most Bizarre Country On Earth Is Now Even More Unstable
A new era has arrived for North Korea and nobody in the western world really knows exactly what is going to happen next. Kim Jong-Il is dead, and now control over the most bizarre country on earth has been handed over to 29-year-old Kim Jong-Un. Many believe that he is even younger than that. North Korea was already quite unstable while Kim Jong-Il was leading it, and now we have a young man that is going to be eager to “prove himself” to the North Korean hierarchy. Unfortunately, a lot of young men under the age of 30 don’t handle fame and fortune too well, and a lot of them tend to be hot-headed. Hopefully Kim Jong-Un will turn out to be a reformer that will open up the doors of North Korea, but he could also end up being worse than his father. We just do not know at this point. We know that Kim Jong-Un was educated in Switzerland as a boy, we know that he speaks French, English and German, and we know that he is reportedly a fan of the NBA. Other than that, we just don’t know a whole lot about him. What we do know is that Kim Jong-Un is a product of a totalitarian society that is absolutely obsessed with destroying the United States, and that is a very frightening thing. (Read More...)
Debt-Free United States Notes Were Once Issued Under JFK And The U.S. Government Still Has The Power To Issue Debt-Free Money
Most Americans have no idea that the U.S. government once issued debt-free money directly into circulation. America once thrived under a debt-free monetary system, and we can do it again. The truth is that the United States is a sovereign nation and it does not need to borrow money from anyone. Back in the days of JFK, Federal Reserve Notes were not the only currency in circulation. Under JFK (at at various other times), a limited number of debt-free United States Notes were issued by the U.S. Treasury and spent by the U.S. government without any new debt being created. In fact, each bill said “United States Note” right at the top. Unfortunately, United States Notes are not being issued today. If you stop right now and pull a dollar out of your wallet, what does it say right at the top? It says “Federal Reserve Note”. Normally, the way our current system works is that whenever more Federal Reserve Notes are created more debt is also created. This debt-based monetary system is systematically destroying the wealth of this nation. But it does not have to be this way. The truth is that the U.S. government still has the power under the U.S. Constitution to issue debt-free money, and we need to educate the American people about this. (Read More...)
50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe
Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don’t make dramatic changes immediately. If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them. Just “tweaking” things here and there is not going to fix this economy. We truly do need a fundamental change in direction. America is consuming far more wealth than it is producing and our debt is absolutely exploding. If we stay on this current path, an economic collapse is inevitable. Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up. (Read More...)