Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Star Parker: Don't let America become like Italy
Spero News ^ | 11/11/2011 | Star Parker

Posted on 11/12/2011 6:03:44 PM PST by AstralisLux

The Wall Street Journal calls the economic implosion now taking place in Europe "a crisis of the welfare state."

The latest European nation to hit the wall is Italy, where national debt is 120 percent of GDP. That is, for every dollar their national economy produces, they owe $1.20.

The Journal calls this a crisis of the welfare state because the Italian national debt is well in excess of the ability of Italians to pay its obligations and is the direct result of excessive government spending.

(Excerpt) Read more at speroforum.com ...


TOPICS: Government; News/Current Events
KEYWORDS: communism; economy; europe; greece; italy; mafia; marxism; prostitution; sleazy; socialism; vulgar; welfare

1 posted on 11/12/2011 6:03:45 PM PST by AstralisLux
[ Post Reply | Private Reply | View Replies]

To: AstralisLux

Not to worry, no one would ever mistake Veronica Lario for the wookie.


2 posted on 11/12/2011 6:25:57 PM PST by Track9 (I walk better with a Cain.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Track9

Huh? I’m trying to figure out what you’re saying. Please clarify ... I must be slow.


3 posted on 11/12/2011 6:30:23 PM PST by AstralisLux
[ Post Reply | Private Reply | To 2 | View Replies]

To: All


Just A Reminder
Please Don't Forget
To Donate To FR
This Quarter

Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!


4 posted on 11/12/2011 6:32:26 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
[ Post Reply | Private Reply | To 3 | View Replies]

To: AstralisLux

Why don’t you look to see who Veronica Lario is. It’s a treat for sure. From there the connection is easy. Enjoy.


5 posted on 11/12/2011 6:34:22 PM PST by Track9 (I walk better with a Cain.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: AstralisLux

Star Parker, reading her book, today...recommened THE WHITE GHETTO. Sometime the truth makes us feel uncomfortable.


6 posted on 11/12/2011 6:35:34 PM PST by rovenstinez
[ Post Reply | Private Reply | To 1 | View Replies]

To: AstralisLux

She says our national debt is 70% of our GDP? Our debt is close to 15 trillion and our GDP is 14.5 trillion. What am I missing?


7 posted on 11/12/2011 6:39:55 PM PST by RightInEastLansing
[ Post Reply | Private Reply | To 1 | View Replies]

To: AstralisLux; Track9
Rode hard and put away wet, IMO. And fake boobs to top it off.


8 posted on 11/12/2011 6:43:37 PM PST by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ChildOfThe60s

Yikes.. I guess I was looking at pics from yesteryear. The culture of plastic surgery is not kind to those who indulge.


9 posted on 11/12/2011 7:02:03 PM PST by Track9 (I walk better with a Cain.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Track9

She was a beautiful woman once.


10 posted on 11/12/2011 7:03:40 PM PST by Track9 (I walk better with a Cain.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Track9

Looks a bit like Angelina Jolie.


11 posted on 11/12/2011 7:23:23 PM PST by reg45 (I'm not angry that Lincoln freed the slaves. I'm angry that Franklin Roosevelt bought them back.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Track9

“She was a beautiful woman once’’< A woman is only beautiful when she is loved.


12 posted on 11/12/2011 7:28:43 PM PST by jmacusa (Political correctness is cultural Marxism. I'm not a Marxist.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: ChildOfThe60s
Dang, poor thing has not worn well.
13 posted on 11/12/2011 8:35:34 PM PST by org.whodat (Just another heartless American, hated by "AMNESTY" Perry and his fellow demorats.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: AstralisLux

Wow. Great column.


14 posted on 11/12/2011 8:37:55 PM PST by Rocky (REPEAL IT!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: org.whodat
Dang, poor thing has not worn well.

Unfortunately, so much of the pictures we see in all the various media forms have been "enhanced", that a whole lot of the beauty we see really just ain't that good. When is the last time you saw a picture of a celebrity with pores in their skin?

15 posted on 11/12/2011 8:51:10 PM PST by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
[ Post Reply | Private Reply | To 13 | View Replies]

To: AstralisLux

we are at 24 percent GDP and Italy has 120 percent GDP. I doubt that we will be like them anytime soon. However another thing is that we recognize the problem and are working it. Italy waited until they were beyond trouble.


16 posted on 11/12/2011 8:59:22 PM PST by napscoordinator
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChildOfThe60s
All true,
17 posted on 11/12/2011 9:02:11 PM PST by org.whodat (Just another heartless American, hated by "AMNESTY" Perry and his fellow demorats.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: napscoordinator
we are at 24 percent GDP

I think you're way off on that. More like 100%.

Take a look here.
http://www.usgovernmentspending.com/federal_debt_chart.html

or here:
http://www.foxnews.com/politics/2011/08/04/us-debt-reaches-100-percent-countrys-gdp/

We are very deep in heap big pile of crapolla.

18 posted on 11/12/2011 9:19:06 PM PST by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
[ Post Reply | Private Reply | To 16 | View Replies]

To: ChildOfThe60s

I thought we were too but during the debate they were mentioning 24 percent and that is why I thought, good we are not that bad. I hope that the candidates are right and you are wrong....no offense at all towards you.


19 posted on 11/12/2011 9:20:24 PM PST by napscoordinator
[ Post Reply | Private Reply | To 18 | View Replies]

To: AstralisLux

Too late, We’re lost worse off because of all the failed stimulus spending. When inflation kickc in and it will, all the 401k accounts will become worthless. The federal reserve has already set in motion the events that have to happen.


20 posted on 11/12/2011 10:38:11 PM PST by jyro (French-like Democrats wave the white flag of surrender while we are winning)
[ Post Reply | Private Reply | To 1 | View Replies]

To: napscoordinator
I hope that the candidates are right and you are wrong....no offense at all towards you.

No offense taken, of course. I would prefer to be wrong.

I didn't watch it, so I missed the context. But the standard way this is defined and used makes us at 100% of GDP. If they actually said that our debt was 24% of GDP then there was some serious lying going on. Or we have a real collection of dunces. It's simply our total federal debt figured as a percentage of 1 year's total output of goods and services. A 15 trillion debt compared to 15 trillion output equals 100%.

Now, figuring that our annual growth is nearly flat & our debt is growing at $1.5 trillion EACH YEAR, then it's pretty easy to see that in 3 years we will be at about 120-125%. Like a snowball rolling down a very long hill.

That is assuming that the economy grows at a modest rate and doesn't shrink. No guarantee there. A 1 point increase in interest rates will seriously jack up the cost of servicing the debt & with that the deficit. And that is pretty much inevitable unless the fed begins to print 100% of our debt. Then it's hello Weimar Republic, which is already moving from possible into the realm of probable.

No one can guess the scenario if (when) that happens in the US. The US is a *much* bigger domino than Germany or Zimbabwe were. The repercussions of our crash would (will) be so great that we really can't guess how it will play out.

21 posted on 11/13/2011 2:55:13 PM PST by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
[ Post Reply | Private Reply | To 19 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson