Posted on 04/23/2011 10:13:42 PM PDT by bruinbirdman
So let me get this straight. The Standard and Poor's rating agency last week took the historic step of putting the US government's AAA credit rating on "negative watch".
There is now, according to S&P, "at least a one in three chance" that American debt will be downgraded from its top-notch status over the next two years – which would be a first in modern times.
A New York Times/CBS News opinion poll has also suggested the US public is now more economically pessimistic than at any time since President Barack Obama's first two months in office in early 2009 – when the country was still caught in the "Great Recession".
Amid renewed talk of a "jobless recovery", the number of Americans who think the economy has deteriorated spiked by 13 percentage points over the past month. Congress, meanwhile, is locked in a bitter dispute over the federal government's ability to make ends meet.
These are the stark realities facing the world's largest economy. They are set, furthermore, against Europe's sovereign debt turmoil, Japan's nuclear crisis and ongoing violence in the Middle East.
Yet despite all this bad news, this veritable litany of woe, the Dow Jones Industrial Average ended last week at a three-year high. US equities are now at levels not seen since mid-2008 – before the credit crunch really took hold. On top of that, despite S&P's announcement, the price of Treasuries kept rising, as their yield – the cost the US government must pay to borrow – fell to its lowest level in a month. Has the world gone mad?
With a federal deficit close to 10pc of GDP, it is clear the US needs some very significant fiscal tightening. Total debts matter even more than annual deficits and on that score
(Excerpt) Read more at telegraph.co.uk ...
“America appears to be sleepwalking towards disaster – does no one care?”
Um, I believe the people who care are called the Tea Party.
But I guess you’ve been so busy calling them dimwitted, racist yokels that it may have slipped your mind!
Uh-oh. Barry gonna get whupped bad next year.
It was the Pelosi/Reid/Obama regime that had no problem running up the spending to astronomical levels.
If anyone reading this haven’t already start I urge you to start getting prepared now. I truely believe that time is growing short very short.
IMHO we will see within the next six months (Unkle Ike thinks I am being overly optimistic with that six-month timeline and from the look of this post he might be right!) a economic collapse much like that of Argentina’s:
http://www.youtube.com/watch?v=rH6_i8zuffs
For more information on live in a collapse economy I strongly suggest that you read Ferfal’s blog SURVIVING IN ARGENTINA: http://ferfal.blogspot.com
And remember as a armed society and one which contains a much more violent crimial and entitlement minded element our collapse is much more likely to be very violent than Argentina’s was/is. I see places mainly big ‘blue’ cities mostly were what I call “Pocket pogroms” will be carried out and if you aren’t ‘Amish’ you better be ready to get out and quick!
For those who would like to get started preparing I have updated my Preparedness Manual and added the following sections:
19. A Highly-Mobility 72 Hour Kit-by Ward Dorrity
55. Step by Step Earthbag Construction-by Dr. Owen Geiger
Thanks to eaker it can be down loaded at:
http://www.tomeaker.com/kart/preparedness1i.pdf
And soon, when all of the white people are finally forced to feel guilt just for being, and the successful among us taken down a peg, everyone will be rich, everything will be free, there will be no disease, no war, no poverty, no pain. Everyone will join hands on the streets, singing the politically correct and religion-neutral version of Kumbaya.
The future is now, baby. Resistance is futile.
America is drunk on money.
“Yet despite all this bad news, this veritable litany of woe, the Dow Jones Industrial Average ended last week at a three-year high. US equities are now at levels not seen since mid-2008”
More dollars chasing stocks?
Interference in the market? (PPT)
Yes, lots of people care.
You might find this thread or the folks on it helpful, and this post would certainly be a good fit over there:
Weekly Roundup - Living On Nothing Edition [Survival Today - an Ongoing Thread #3]
http://www.freerepublic.com/focus/f-chat/2299939/posts
What Has Become Of The United States of America?
Has America become the land of the special interest and home of the double standard? For many it has. Here is a review of current events. Make your own decision.
If we lie to the Congress, it’s a felony. If the Congress lies to us it’s just politics. If we dislike a black person, we’re racist. If a black dislikes whites, it’s their First Amendment right.
The government spends millions to rehabilitate criminals and they do almost nothing for the victims. In public schools you can teach that homosexuality is OK, but you better not use the word God in the process.
You can kill and unborn child, but it’s wrong to execute a mass murderer. We don’t burn books in America, we now rewrite them. We got rid of the communist and socialist threat by renaming them progressive. We are unable to close our border with Mexico, but we have no problem protecting the 38th parallel in Korea.
If you protest against President Obama’s policies you’re a terrorist or a racist, but if you burned an American flag or George W. Bush’s picture in effigy it was your First Amendment right.
You can have pornography on TV or the Internet, but you better not put a nativity scene in a public park during Christmas. We have eliminated all criminals in America; they are now called sick people. We can use a human fetus for medical research, but it’s wrong to use an animal for drug research to cure a disease.
We take money from those who work hard for it and give it to those who don’t want to work. We all support the Constitution, but only when it supports our political ideology. We still have freedom of speech, but only if we are being politically correct.
We can celebrate Cinco De Mayo and Halloween, but we can’t celebrate Christmas, which is a recognized national holiday and a religious holiday for most of Americans.
We can ask law-abiding citizens to present valid I.D. when cashing a check or making a credit card purchase, but we can’t ask suspicious “illegal aliens” to produce a valid I.D. to verify their status or identify themselves.
We explain away individuals who steal classified and secret communications and distribute them to the press, but can’t hold the press or individuals libel for participating in this life-threatening treachery to our country and armed forces personnel.
We applaud confiscatory taxation and regulation on those who work hard, run an enterprise and play by the rules, then reward drug addicts, slackers, welfare cheats and bums with “benefits” they did not earn to continue their corrupt lifestyles … and call this whole process “social justice” or welfare for the so-called disadvantaged and poor of society.
Actor Wesley Snipes goes to jail for tax evasion, while Democratic Congressman Charles Rangel, who was indicted 20 times for fraud and evasion, gets a mild censure and no jail time from Congress. And you wonder why the U.S. Congress is held in deep contempt with a 20 percent approval rating from U.S. taxpayers and voters.
What has happened to the land of the free and home of the brave?
The answer: America has become a welfare state based on deviant behavior, questionable morals and situation ethics.
http://blog.billlawrenceonline.com/2011/01/10/what-has-become-of-the-united-states-of-america.aspx[/
Yes, and they’re going to hand over the job of cutting all of the entitlements over to a Republican controlled Presidency and Congress.
The next revolution is three missed meals away.
When dollars are worth less, it takes more dollars to buy stock. That creates the illusion of rising stocks when it is actually the falling dollar.
You linky doesn’t work, but the column you posted was awesome.
It covered all the bases.
"My father says that almost the whole world is asleep. Everybody you know. Everybody you see. Everybody you talk to. He says that only a few people are awake and they live in a state of constant total amazement."
That's true, but the hoi polloi are like that. Unfortunately, today they vote socialist, are unwitting dupes.
Those who understand, care and can do something about it, have chosen to let the crisis be the answer.
In the last 20 years, everyone has been given the opportunity to acquire enough to weather the crisis. The dotcom bubble, the realestate bubble, and now the commodity/equity run up.
Hope everyone took advantage and can survive what's coming.
"Ferfal’s blog SURVIVING IN ARGENTINA" Ferfal is a gold bug flimflammer. Too late to get in now.
yitbos
Athiests and pagans don't seem to do very well as civilizations, eh?
yitbos
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