Posted on 02/04/2010 11:50:19 AM PST by Jack Black
Thanks to the endless barrage of feel-good propaganda that daily assaults the American mind, best epitomized a few months ago by the “green shoots,” everything’s-coming-up-roses propaganda touted by Federal Reserve Chairman Bernanke, the citizens have no idea how disastrous the country’s fiscal, monetary and economic problems truly are. Nor do they perceive the rapidly increasing risk of a totalitarian nightmare descending upon the American Republic.
One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America’s citizens since the nation’s founding 235 years ago, the government would remain totally bankrupt.
According to the Federal Reserve’s most recent report on wealth, America’s private net worth was $53.4 trillion as of September, 2009. But at the same time, America’s debt and unfunded liabilities totaled at least $120,000,000,000,000.00 ($120 trillion), or 225% of the citizens’ net worth. Even if the government expropriated every dollar of private wealth in the nation, it would still have a deficit of $66,600,000,000,000.00 ($66.6 trillion), equal to $214,286.00 for every man, woman and child in America and roughly 500% of GDP. If the government does not directly seize the nation’s private wealth, then it will require $389,610 from each and every citizen to balance the country’s books. State, county and municipal debts and deficits are additional, already elephantine in many states (e.g., California, Illinois, New Jersey and New York) and growing at an alarming rate nationwide. In addition to the federal government, dozens of states are already bankrupt and sinking deeper into the morass every day.
(Excerpt) Read more at financialsense.com ...
Economy ping
We Are So Screwed... (c)
Ping for CWII ping list. The facts are both vivid and depressing. What is the response to most Americans to the open looting that is going on? (Today's $100 Million bonus's to the very unit of AIG that bankrupted the company is a great example).
Is there any point where it becomes too much to bear? Have we been so sheeple-ized that we will just acquiesce to all this? Does the idea of our kids paying 75% of their income in taxes (and perhaps still not getting health care for it) upset anyone?
Welcome back Sarge!
If, or maybe I should say when the US goes bankrupt, we will have exactly that. I do not think the American people are going to BOHICA when it happens.
Die Oberlord is hier!
Never thought he would be half black, half white and 100 percent pinko..... wonder what Hitler would think of this?
Let alone, Washington? Franklin? Lincoln ? Hancock?.....
Probably make them all roll in their graves!
4 your reading and comment.
“probably can’t be turned around”
That’s pretty grim.
So, what are we facing? Starvation? Invasion? Default on the national debt?
I believe an historic economic collapse is now all-but inevitable; it might well be forestalled by purposeful (and immediate) action; even then, we'd be in for an extended period of painful financial retrenchment. But our internationalist elites (the author's "Master Class") have no interest in reversing course when they may yet profit from the coming crash, and may eventually seek to forcibly control those who refuse to submit to their will.
I would not bother investing quite as much in gold as I would in food, clothing, fungible commodities, communications equipment and more immediately useful metals such as copper and lead. By the way: I have two of those Gadsden flags on display at my house and expect to see them multiply in the coming months. Good luck.
Time for a good ol’ World War to shake things up. (and get the economy rolling.)
And Barry is just getting warmed up .
The article here & comments at this article are from 2005:
“European Left Helps DNC to Re-Educate America”
By Red Square
http://thepeoplescube.com/red/viewtopic.php?t=129
All of the above.
Plus incarceration for us Tea party patriots.
Life unlike any of us have known.
Need to start job hunting in Canada.
Look at another possibility, personified by Zimbabwe. Keep printing money with its attendant inflation to the point that a loaf of bread costs a trillion dollars.
I've been afraid all along that some idiot politician would come along and monetize the debt. Looks like the United States has achieved that end, and is wearing out its printing presses printing those megabucks.
Monetization also screws everyone, particularly those who have worked and saved for retirement.
Yes, but as far as the conclusion goes, perhaps it doesn’t end with a dictatorship by a ruling elite. My sense tells me that the “elite” will in big trouble if wealth seizure is attempted. The “elite” may find themselves before firing squads of angry citizens at stadiums everywhere.
This alone would cause moderation in execution of ill conceived seizure plans.
If the election of one Republican senator from Mass can turn the political class on its head, think of their reaction to the potential action of tens of millions of armed citizens.
Our founding fathers got the 2nd Amendment right. There’s a reason it exists.
Fortunately that “master class dictatorship” will be facing about 150 million armed Americans, somewhat MIFFED about the attempted confiscation of their property.
You are right. It is sickening. What happens next? Are we going to stand for this?
If you take out the party politics....well... citizens need to go after these people.
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