Posted on 02/04/2010 9:50:11 AM PST by blam
20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Michael The Patriot Blogger
Feb. 4, 2010, 10:26 AM
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.
The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.
And it is going to be painful.
[snip]
(Excerpt) Read more at businessinsider.com ...
http://theeconomiccollapseblog.com/
Including this little gem:
It Is Now Mathematically Impossible To Pay Off The U.S. National Debt
I tell you, the first reason...the second batch of ARMs resetting...THAT, my FRiend, is going to be a bitch. It was mainly the sub-primes the first time. How about those other type loans? Also, is this mainly residential, or is one of the coming batch of ARMs resetting commercial?
Great 10 commandments list! (It'll never happen)
Thanks for the ping.
Is it made in a factory? Maybe you think they grow on trees? Or is there an M&M mine somewhere?
If it'll stop your crying, you can subtract those goods out of the total manufacturing numbers.
Lots of chickens will be coming home to roost...
Any third world country like Uganda or Zimbabwe can make potato chips. Only an abysmally stupid moron puts making potato chips on par w making computer chips
They have a large potato chip industry down there? How much do they make?
Only an abysmally stupid moron puts making potato chips on par w making computer chips
Yeah, George H. W. Bush was an economic idiot. No argument there.
Making potato chips is not an effin industry. Making steel and automobiles and refrigerators is. Get back to me when you figure that one out. No wonder America is in trouble. Even the conservatives are idiots!
That's heavy industry. There's more than one type.
No wonder America is in trouble. Even the conservatives are idiots!
Yeah, but enough about you.
Coming to a town near you:
http://www.azcentral.com/news/articles/2010/02/03/20100203foodtax0203.html
"The 2 percent food tax will take effect April 1 and expire after five years, though Mayor Phil Gordon said the council has the option of reversing its decision after it hears from the public during 15 budget hearings planned for this month. ...The tax on milk, meat, vegetables and other food purchased by shoppers will generate an estimated $12.5 million for the fiscal year that ends June 30. It will raise another $50 million for fiscal 2011. Food purchased with food stamps will not be taxed."
Where I grew up we had plenty of light industry because the free traitors hadn’t sold us out yet. My father’s factory (I worked summers there) was light industry. Was sheet metal. Light industry is real industry. Making fritos, doritos and potato chips is not
Right, making billions of dollars worth of food every year in a big factory is a service. LOL!
Rush had an interesting comment from a mathematician listener of his.
He said that Georgey Clooney went to Haiti and did a telethon and came up with something like 66 million dollars.
George Clooney would have to hold that telethon and take in that amount every day for 158 years in order to pay for Obammie the Commie’s budget.
Helps put the dollars (debt, spending, deficit) into perspective.
I know in this family, we're trying to cut doen/off our credit cards(we have no balances month to month) and pay off our home eq LOC....
you must have a job, right?...a nice govt pension?...don’t know what it feels like to have hours cut....
or draw up medication with her #350 reading glasses and hope that the dose is correct?
SS at 70 is fine for people that sit at desks or don't do physical work....the only recourse would be for many people to just go on dissability...which would be more expensive...
as far as dissability on Ss.....why age 40?....anyone up to age 62 should be able to work unless totally dissabled..even if just part time....
now if we could get rid of odorous enviromental laws and actually start acting like a capitalist nation, our economy and our self esteem would take off....
imagine if we allowed drilling off of FLorida or other places with AMERICAN workers....
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