The People Fiddle as the Country Burns
By Greg Hunter’s USAWatchdog.com
Thank goodness the Casey Anthony case is over! The jury thinks she is not guilty of murder. I don’t know if they got right or wrong, but I do know many dollars and much air time was devoted to a story that will have zero effect on the lives of 99.999% of Americans. I think the discovery of a walking, talking Martian would have gotten about the same attention. I guess this stuff sells newspapers and gets TV ratings but is sure not what U.S. citizens should be focused on. Maybe that’s the point. Are stories like Casey Anthony just our version of a Roman Circus? Are the masses being kept preoccupied with events that have no bearing on their lives while the country burns in a cloud of debt? I think so.
Most people have no idea of the perilous position the U.S. is in. One wrong move by our government or even a government the size of Greece, Portugal, Spain or Italy, and there could be a daisy chain of debt explosions around the globe. The people are in the dark, and I blame the mainstream media (MSM.) A story that should have people really terrified is the battle going on in Washington D.C. over raising the debt ceiling some $2.4 trillion dollars. If the issue is not settled by early August, the U.S. could have the mother of all debt defaults. The Democrats and Republicans cannot agree on a package that contains both tax increases and budget cuts. President Obama has called for a “balanced approach.” Bloomberg reported yesterday, “The Obama administration and congressional leaders are working to complete a deal on a long-term budget reduction package by July 22 as part of a plan to raise the $14.3 trillion debt limit. The Treasury Department has said that its borrowing authority expires Aug. 2 and could result in a first-ever U.S. default on its obligations. Obama’s comments came as Democrats were intensifying a showdown with Republicans over whether tax increases should be part of a deficit-cutting deal before the Aug. 2 deadline.” (Click here for the complete Bloomberg report.)
Everyone should be watching this debt ceiling negotiation because, no matter the outcome, it will affect the lives of 99.999% of Americans and many people around the globe. If a deal is not reached, catastrophic consequences would follow. In his latest report, economist John Williams from Shadowstats.com said, “Such a default would be a serious mistake, and it most likely will be avoided as political games push the limits of brinksmanship. An outright default likely would trigger massive dumping of the U.S. dollar, and it would accelerate movement to much higher U.S. inflation and, ultimately, to hyperinflation.” According to Williams, there are $12 trillion in liquid dollar assets held outside the U.S. That is where the hyperinflation would come from.
Paul Farrell from MarketWatch.com takes the opposite end of the argument and says the U.S. should not raise the debt ceiling because it will make matters worse in the future. In a post he wrote yesterday, he said, “No, do not raise the debt-ceiling. You heard me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A debt addict. Time to detox. Deal with the collateral damage before it’s too late.” Farrell gives 7 reasons why he thinks we should force a depression right now and not wait for an even bigger one to happen later. (Click here to read the complete MarketWatch.com report.)
Either way, America is heading for a real disaster, and most people are clueless of how fast the economy could fall off a cliff. And when I say disaster, I mean riots, crime, violence, hunger, hyperinflation and a complete loss of wealth that will vanish seemingly overnight. This is a fall that will forever change the country. This is big, very big. Meanwhile, the mainstream media (MSM) is obsessed with wall-to-wall coverage of stories like Casey Anthony. I guess the John Edwards saga will be the next distraction as we head for the abyss. When we crash, and I guarantee it will happen, the MSM will sit around and say the exact same thing it said after the 2008 meltdown: “Nobody saw that coming.” Let the games continue.
The young don’t have a clue, the middle think things will get better and the old are terrified of the coming storm
To George that’s the best answer I’ve read all day.
This is a timely article and as an informed citizen I am deeply concerned about the current zeitgeist in America. All I’ve seen or heard in the MSM has been the Casey Anthony story. Yet just last Friday (July 1st) the Seventh Quarterly Report on the economic impact of the “stimulus” was released announcing that it had has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That translates to a direct cost to taxpayers of $278,000 per job. The amazing thing is I haven’t seen or read anything in the MSM that expresses outrage. Yes we’re rapidly headed toward a massive crash and hurt doesn’t even begin to describe the outcome. There’s a signpost up ahead — next stop, the Twilight Zone.
I agree 100% with Paul Farrell. Let the system reset right now, and in the process expose our politicians for what they are, self agrandizing morons, with no other interest in mind but themselves and the lobbyists they serve. Because they sure don’t give a damn about the people anymore.
Just look at the biggest Congressional votes taken in the last few years, the American people did not want them, but they voted for them anyway; and the beneficiaries?…Wall Street, banks, Hedgefund managers, and the like. I’m just plain sick of it.
Now Goldman is making millions of of the sale of US infrastructure to foreign investors and sovereign funds by the States.
So let it all crash right now, I’m prepared, and I quite frankly don’t care how much pain it causes in this country. Something has to wake up the sheeple from their debt induced LSD haze.
Just one more note about default…be prepared for China to take Alaska and Japan to want our Pacific territories and Hawaii, because they will want something in exchange for their loss.
You say you guarantee we are going to crash? I agree with you, but it might not be so bad if it is a repeat of 2008. What I fear is something greater.
First, it’s nice to see that you borrowed my phrase, that is, that many “news” stories are only diversions from what is really going on (what I call “bread & circus” stories).
Second, I read yesterday on Drudge Report that GOPers may decide on a “mini” debt ceiling. Excuse me? This “mini” debt ceiling agreement will only “kick the can” for a few weeks, then it’s back to “square one.” I don’t know about you, Greg, but I’m tired of these RINOs like Boehner and Rick Perry, who puff themselves up and posture, only to cave in at the last minute. Whatever happened to serving the people? Whatever happened to taking a stand? Boehner is so wimpy he makes Neville Chamberlain look like another Churchill.
Third, we are already in a hyperinflation. We have some ways to go before we see wheelbarrows full of cash.
Fourth, as to hunger and loss of wealth, there is still time to prepare. Gold and silver are still relatively cheap, as is food.
Fifth, no matter what happens, there will be violence. I also read on Drudge yesterday of more “flash mobs” over the holiday, this time a few people were killed. We’ll have violence all right – but don’t forget, many more people have armed themselves (and have been stockpiling ammo!), and have been getting concealed permits just before and after the 2008 election. Less people, this time around, are going to be pulled from their vehicles, more will fight back.
Greg, as I said on this blog off and on for 5 months now the debt ceiling is going to be raised, everyone knows it, including the MSM.
Its just postering and photo-opps. I hate to defend the MSM but maybe they have this story right; a non-story because its going to be settled so why make a big deal out a big yawn. I, for one, am for not raising it, and taking the hit to get to downsized to start somewhat over, a great wake up call. The hyperinflation theory if its isn’t raised could be true, but going futher in debt is just inflation too, it will just take longer to inflate the dollar the same percentage. Kicking the can down the road will never solve problems. Remember, when the debt ceiling is raised, and it will be raised, any deals to curtail spending in exchange for the ceiling raise will be future curtailments only and later can be amended to spend it anyway, which is what will happen. Knowing these wolves in sheep clothing as Americans are finally learning should entertain that this scenerio to be no gbig surprise.
As to your problem with the MSM, the only way these Washington snakes continue to have any relevance is that the MSM continues to place sports, court cases, and other bullshit stuff first and foremost on the boob-tube. Otherwise, they would never get away with it. Americans for the most part have relied up the foxes to watch the hen house and, of course, you how that works out. Your poor average America has now checked the chicken coop and low & behold he has no chickens left in there for future meat and eggs to eat.
In conclusion, the debt ceiling will be raised and all will be well with inflation marching on as usual due to the destruction of the dollar. The MSM will get another murder trial to watch and tell us about and our esteemed Government will spend as usual and get us in another war, all the while the average american continues to wake up one by one and find his life has changed to his or her detriment.
This is huge – it will be painfull – many of us see this coming and are preparing for it as best as we can.
There is nothing we can do to stop it.
Farrel is absolutely correct. Better to take the medicine now.
The only way to fix this is to let it break!
Do you really beleive that raising the debt limit will accomplish ANYTHING when it comes to reigning in the government spending???
We will be in this same position in another couple of years – maybe sooner.
And the 14th amendment is not the prez’s trump card. Let him try it.
He hasn’t seen the American people really pissed yet!
I learn so much from you. Thank you for all your work Greg.
Global scale collapse.
The argument about the debt ceiling is just yet another media circus. Everybody knows that it will be raised. Yes, it will be worse for the USA if it is raised – but given the choice between a catastrophe now or a bigger catastrophe later, any professional politician will choose the second option.
This is a sad and sobering story of the people forgetting the lessons of the past of governments getting to much power. Most of the people will wonder why the crash happened. Well, we have let the ruthless Federal Reserve Bank do this to our country and the world. The FED has printed all the soon to be worthless money, and control the governments, military machine, mainstream media, banks, energy, food and WE THE PEOPLE will suffer….because we have let them by not holding them accountable with the use of our money. It is because the men in this country have put more value on having shiny new 4-door trucks with big tires and lift kits on them, with sad stickers remembering our dead war heroes that have died needlessly for the worthless militaristic war profiteering cartel, and our soccer moms in their suburbans carrying around the kids that get a useless education based on a brainwashing agenda that teaches them that the one that dies with the most toys wins. They keep those vehicles spotless on the daily trip to the car wash. All very planned, organized and all American. Oh, some of us have seen through the veil of the “keeping up with the Jone’s deceit” and live within our budget, not with a high credit card balance. But not our government, their mommies never taught them to live within their budget or face the consequences. They just call the FED and order more to be printed, and charge it to our kids and grand kids. Hope all of you people know how to grow food and have some land, seeds, fertilizer, and a water source. Better get that camping gear together too. Don’t forget the bikes and guns. Better to be prepared as it looks like our “LEADERS” have been planning this crash all along. They are not the patriots they have claimed to be. They are evil. Just my opinions. Greg thank you once again, I know you are doing a lot of good.
Greg, why we allow TV in courtrooms is beyond my understanding since we do not see the same trial as the Jury. When the interesting and “juicy” news stuff is making news, the jury is normally out of the courtroom. When the “real” trial is going on, the TV news is not covering that since it is boring and uninteresting. So what we see is the audiance coming up with a completely different decision based on information the jury never receives. That leads to questions about our judicial system.
As for the debt, spending and taxes, one can simply relate our government leaders with the owners of NFL, NBA, MLB and NHL teams. They complain that they are not making any money (spending more than their revenues) and then they go out and sign contracts that take them further into debt. Then they go back to the players and demand collective bargaining agreements that put a cap on spending (debt ceiling). Once they have that in place, they are then in a position to at least break even as they are not allowed to go over a specific amount of spending. (Balanced Budget Amendment). All of this because they can not make a decision like a few owners make where they limit their own spending because they have the intelligence to know that one can not keep spending more than they take in.
So when one remarks that we need more business men in DC running the country since they know how to balance a budget, lets just make sure it is not a owner of a professional sports team!
Scholars assert that a country cannot plunge into an economic Depression until the banking system fails [systemic bank failure].
Are we there yet ?
What does the World plunge into when multiple countries fail to meet their debt obligations ?
Does anyone know the absolute correct answer to that one ?
Thank you. I look forward to an answer from some Scholar out there.
there exists a systemic bank failure
The debt ceiling will be raised, no doubt. It’s a perpetual waiting game until the market wakes up to the epiphany that the solution is market driven , organically and it is not a top-down solution by the elite, at all. The elite have done their job and that task was to set gold free to float, while creating a real-time measure for gold payments (the floating USD.) Something had to act as a “bridge” in regards to weighted bullion payment for goods & services that are likely priced in a fiat currency. Call it a new integration of the measure and the weight, but in real-time, something that gold has never had the pleasure of experiencing in its past roles as a form of currency. The fixed peg had to be severed for gold to perform properly as a currency.
but not really, there is (i believe) a way to save the country without a total depresion.
someone like ron paul.
deregulate the countrys production. remove proabition.release 70% of the prisioners that are there on drug related charges.
remove lawsuits on medical doctors,weiver release program for the uninsured.
bring the troops home. give more rights of freedom to the states.
and i really like ron pauls opt out program.count me in.
as for casey- it should never went to court without proof. the media is guilty of being mediostitutes. i am guilty of being mad as hell,and im not going to take it anymore.
It’s out of our control.The Empire rot is irreversible.
Destruction is on the way.
The One in charge has given us idiots for leaders and the best they can do is grope in the dark.
14 “Behold, He tears down, and it cannot be rebuilt;
15 If He withholds the waters, they dry up;
If He sends them out, they overwhelm the earth.
16 With Him are strength and prudence.The deceived and the deceiver are His.
17 He leads counselors away plundered,And makes fools of the judges.
He leads princes away plundered,And overthrows the mighty.
20 He deprives the trusted ones of speech,And takes away the discernment of the elders.
21 He pours contempt on princes,And disarms the mighty.
22 He uncovers deep things out of darkness,And brings the shadow of death to light.
23 He makes nations great, and destroys them;He enlarges nations, and guides them.
24 He takes away the understanding of the chiefs of the people of the earth,And makes them wander in a pathless wilderness.
25 They grope in the dark without light,And He makes them stagger like a drunken man.
Greg….another “on the money” post! That “debt-trap” is about to grow even bigger! All of this chatter about this “debt-crisis” will guarantee one thing for certain: Both parties will “crow bar” this nation’s cookie jar (I call it the Department of Debt) after all,name me any other nation that can wage war any time it wants to? Opps,did I fail to mention how many kinds of war…..this Department of Debt can wage at one time? Now there’s a story that can replace that tragic case in Florida- the next question is: Who has the balls to do so? One other point here: Wall St and that Department of Debt,which is more sinister? Until the next time~ keep hitting!
Well.. well.. well.. at least somebody else besides me, the politicos, and bankers know what’s really going on and what’s going to happen.
Bad thing is that when it does hit the fan…. and it will… the ill-informed (as a result of their complacentness) will be forced to be informed by the same people who caused the collapse.
Just like the collapse of 2008… when now you have those who initated what lead to the financial collapse convincing and mainupulating the reality ignorant into believing the crisis was caused by over regulation, taxes, subprime lendees, etc. etc. etc… you know the game.
Haha how true it is how sadly true it is! When I heard the crowd chanting, “appeal! appeal! appeal!” I could almost picture Emperor Obama in his toga nervously poised above the throng wondering if he should his thumb up or a thumb down.
Unfortunately in leaving us kept in the dark and totally unprepared, “we” are being primed and set up to react in the worst possible way to the inevitable collapse of the dollar, which will then justify and even mandate that the governement take the most drastic actions available to ensure continuity of government.
I can almost see the ships being loaded to capacity right now, full of third world human livestock born and bred to wear the blue UN helmet and carry out any order to the letter, already on their way here “to ensure peace, restore order and bring about a return of prosperity to this troubled nation.”
I tend to agree with Farrell. Either we deal with it now and it is really bad or we kick the can down the road and deal with it when it will be 100 times worse. Neither republicans or democrats can get off the washington version of crack. To suggest raising the limit to spend more to save the country from finanial devastation is the same as telling a crack whore to smoke more crack if she wants to break the crack habit. Really? Even a temporary rasing of the limit to buy time will only result in another temporary fix, then another and another. Fix it now, dont raise the limit, force Washington to make some massive cuts and lets deal with it.
Not a word about dropping the debt by cancelling the illegal, unChristian wars or demanding the bailouts be paid back? THOSE TWO ACTIONS ALONE would solve a great deal of our emergency? Why are not the “who-would-Jesus-bomb?” people taking the lead on this in DC?
If you are bankrupt like we are, how do you raise the debt ceiling? You don’t! You cut spending and leave it where it is. At least that is how I had to do it. I imagine it is the same with everyone else that has borrowed more than they can afford to pay back. You don’t give them more money! You make them prioritize what they spend on.
What does it matter if Congress stops buying that cup of “Starbucks” everyday if they can eat three meals a day at Ruth Chris’ Steak house and charge it? Are we such a nation of fools that only the few thousands of us on Greg’s site get it? If so we need to organize and try to help the morons. That is after we have taken all the steps to make sure our families will weather the storm.
I have been places where topics like the economy come up and I hear the ever present phrase, “That will never happen! This is America”. My guess is they said that right up until the collapse in the 1930’s. At least right up until FDR’s G-men came to every house and confiscated all the gold coins and gave them fiat toilet paper in exchange. And when FDR had all the gold, your $20 bill was no longer worth $20 in gold. He devalued the US Dollar by nearly half, to $35 to the ounce of gold.
He stole nearly half the wealth in America and he is a hero to the masses. The liberals hold him up as an icon. Hell, I guess the guy [likely Obama] that steals all our 401K’s and other retirement plans will be raised to sainthood.
“What do you mean? The government can’t take my 401K plan.” Keep believing that. Oh, but the government says that they will give you a government savings account in place of your 401K. Hmmmm, isn’t that what Social Security was?
My MBA-educated, senior-executive brother-in-law is a good example. He is smart enough to know the trap we are in, and prefers to be kept in the dark, because the truth, were it to be told, would invite catastrophe. Where he seems to be incorrect is his insistence that those who control the MOPE will be able to avert the catastrophe that has befallen all debt-laden currencies. I think this is a natural psychological response – one who has invested his whole adult life in a particular mindset, reinforced by many hours and dollars in higher education, would not find it easy to admit everything he’s believed in is not so. History doesn’t seem to matter anymore because virtual-reality has taken over. We’ll see.
Default now or default later. It’s GOING TO HAPPEN. The only question is when. What our fascist corp-gov can not handle, and what just might make it worthwhile for all of us, “little people”, is that they will not be able to operate in the world that emerges on the other side. They cannot commit heinous crimes like NAFTA, the World Court, or even World War II without the backbone of the global finance network intact. This is the end of their hegemony. NOT the end of us. That is the “disaster”, they fear so much. And I REJECT the idea that it will be far worse for us than for them. No. That’s what they’re trying to sell us on, and like everything else they peddle it’s nothing but a cheap con!
Let it fall!!
all ponzi schemes come to an end ….. and like Gerald Celente says, shooting wars are now in progress because of the economic crisis
Yes it is happening exactly as the scriptures foretold. Babylon has reemerged, not as a city, but as a global cabal made up of bankers and corporations that make up the body of the beast.
This beast headed by satan is pushing for a global currency that requires the dollars role as the reserve currency to diminish.
Once enough chaos ensues the countries of the world will unite under a global covenant that will bring the mark of the beast by the middle of the tribulation which will control who may buy or sell.
This will bring the separation of the wheat from the tares the scriptures require. Its nothing new. It happened to physical Israel as the Lord drove them into their wilderness led by Moses and it will happen again very very soon to spiritual Israel led by the manchild of Revelation chapter 12.
If you desire to know more please visit our web site: http://www.unleavenedbreadministries.org
In CHRIST! Rob
I’d actually appreciate if we found a martian, these stories of filth (celebrity entertainment, murder trials, etc – bore me to death).
The truth is the debt crisis and the stability of the world should be getting the most media attention. People don’t like to hear about it but its the largest problem the masses face and it needs some well constructed plans to resolve.
My personal opinion is the US should have a majority of its debt forgiven just like the US has forgiven a majority of others debts. This still leaves the lack of jobs problem but I feel like the US has done enough good in the past to be at the forefront of the future.
Only the Almighty knows what happened; but most of the media is missing something very important. The arrogant treatment of a meter reader who got treated with terrible arrogance by the officials could make any ‘ average person’ question anything that came out of the mouths of the prosecution. Christ spoke in great detail about ‘arrogance.’ If a guilty person walked free; I attribute it to arrogance of those in charge who treated ‘ one of us’ with such arrogance because they made a discovery they couldn’t. So often , its the average person that is going to see something and they deserve to be treated with respect for trying to be a good citizen. Linda Joy Adams
My first inkling that this mess would happen was the day that President Carter announced that “redlining” was banned and banks had to lend money to folks that could not repay it. That opened the door to all sorts of abuse. I think it was around 1978 or so. How can folks not see this coming? My family has tried to get ready for years and I’m sure we should have done more. I pity the sheeple that still don’t see it coming.
I agree with you Greg. However I believe they will raise the debt ceiling and all will continue as it has been…and of course…the DOW will rally. At this point the DOW is so manipulated and goosed that no matter what bad news gets reported…the DOW will rally, it is after all the only success the Fed/Goldman have been able to pull off.
I tend to believe those who say we are witnessing a slow motion economic train wreck, the emphasis here would be on slow motion. The rest of the planet will still run blindly to the USD for safety only because it’s the pig with the nicest shade of lipstick.
Will the end come suddenly without warning…only the banksters know the details and timing of that one but you can better believe it will be when they have the greatest opportunity to build yet more wealth and power.
They’ll raise the debt limit. They always do. This is just posturing by republicans.
This article assumes the debt limit won’t be raised, but lets say it is…then what?
Kudos! Absolutely dead-on correct. The next round of financial collapse will be huge, and with an impact on every resident of the U.S. and the world. The MSM is no longer presenting news, but is manipulating perception. If the Casey Anthony is the lead (and often only) story, then everything else must be OK. How very, very wrong.
There are a few of us that have been shouting this warning for years. It seems almost hopeless to attempt to awaken the common citizen. But, as I am sure you would agree, seeing that one pair of eyes open to the reality for the first time is worth all the effort!
Keep on opening the people’s eyes.
You are 100% correct, as usual.
Be ready, be very ready, for it could happen at anytime.
You hit the nail on the head. Every word is on the spot. It is NOW.
Greg, the Brandon Smith article & this one hits home with facts that are truly coming true faster than we think. The MSM will not change its colors until its to late. The sad part Americans are not prepared for any real crisis. I have lived alone for years because I like it that way, the lack of jobs has forced me to belong to the group of parents to open up there home to their adult children & their kids. Getting them to live on a budget & stick to it has stretched my patients thin! I had taught them why it was important to not sell their PM’s if either one lost their job. All the doe’s & don’ts, what did they do, all the don’ts! It’s the story nation wide for the younger group who never used real money & will learn the hard way! I am not a fear pusher, but some things just seem to stick out that somethings very wrong.
Brandon Smith said we keep shooting ourselves in the foot, he’s right & todays story is right. The MSM will move on from the Anthony to another meaningless story to keep Americans glued to their seats.
Saturday, my daughter said look dad, I wish I didn’t have to work all week end, we would fly out & join in the fun, their in shorts & swim suites while skiing out west. As I read the news story my mind was about to blow! Record snow pack has folks lining up to catch a lift at all the resorts open this late in the year. Most would have been open for hikers not skiing, but those roads remain closed due to record late snow & what is melting puts great pressure on the streams feeding the flooding Missouri river & other major rivers. I asked her if she read the whole story, no dad why? Well 1st you can’t afford to go deeper into debt. 2. There is a news blackout & no fly zone in place at Fort Calhoun in Nebraska, the plant had a fire, the Missouri river has surrounded the nuke plant, the Red Cross has signed some sort of Pack with FEMA at Obama’s request. Down river Cooper nuke plant just came inches from being flooded, up river Gavins point Dam increased its flow rate to 160,000 cfs & the commander over Army CoE’s said he had no choice but to continue this rate because of snow melt, record rain above all the Dams factors into the rate flow from all the Dams for months to come. After some searching,I came across this site, rich in videos, links to U.S. & public/private sources & the S.Dakota Historic Society has a video at Gavins Point Dam with a time line of erosion views & the sounds over comes you. http://www.oilfreefun.com/2011/06/nebraska-nuclear-meltdown-coverage-from.html. I don’t agree with all the content on this site, but the links to the Red Cross & other sites with interviews of physics professors gives it merits to view.
Greg, this is no child’s game the government & corporations are playing. We have passed the “What If” when Japan nuke plants are now releasing nuke poison 24/7 & hanging on by their finger nails. The crisis is many in nature and if people are depending on the government, corporate banking & muti-national corporations to do the right thing, there is proof it’s very un-healthy or even fatal. It will take a depression to wake up the world, what a sad story indeed.
Indeed, the show must go on. Just remember to reap what you sow.
What if the Treasury issue( i owe you bonds) replacing the Fed,this will keep the interest paid at home in US. rather than grease the usual grey emminence abroad,people with more money to invest will pay proportionally more on the earned interest,democrats i guess will go for it,is too simple isn’t.
Old Canuck Montral
Sorry for my french
At what point do we start blaming ourselves? Fixing the economy and allowing people to continually de-evolve is a mistake. Societies should strive for advancement or wither away to be taught in future history classes. We all should be moving to the next step as opposed to propping up a corrupt and destructive enterprise that we have today.
Personal Responsibility is dead and that’s a shame.
the day that we as a nation can not be bothered to pay attention to the murder of one small child and not be concerned about justice being served in her murder , is the day that we as a nation do not deserve to continue or have justice for ourselves
that is my opinion.
Ummmm, what justice do you speak of? She was aquitted. Are you satisfied now? Okay, now go back to sleep.
Thank you for another great article.
Despite many people like you warn about the dangers of the current U.S. economy, there are still a lot of people immune from the sad reality. I know many people who never watch any local and national news. Instead of worrying about our country and do something positive, they are more interested in hi-tech gadgets, Hollywood gossips, new music album releases, who’s in American Idol or Dancing with the Stars, etc. Many people told me that they prefer something more entertaining and brainless so they can get their minds off work. Politics and economy topics are just too serious for them. Also, they feel that they are powerless to change anything. Life goes on with or without them.
It is true that the U.S. economy is failing and threatening our lives. However I believe the real threat is the US Congress. When the incompetent members of the Congress passed the free trade agreements, they started killing our manufacturing. When they decided not to regulate the banking industry, they planted the seed of the economic bubbles. When the economic bubble burst, they gave billions of free money to big banks and corporations.
Before any spending cuts, I would like to see that the benefits to all members of the U.S. Congress to be completely eliminated. They should not receive free medical insurance when most Americans pay for their high premium (and many more don’t have insurance because they cannot afford it.) They should not get transportation subsidies when most Americans suffered from high gas prices. They don’t deserve to receive any benefits because of their incompetence. They should be paid by hours only – hours that they actually work on real issues for our people and not playing cats and dogs fight between parties. Many politicians have been living as old European nobles and they have no idea on how the average American has to struggle to live everyday.
Finally, I would like to share a story with you and your audience. It is a story about former Taiwan President Chen Shui-bian.
One day, President Chen went to Taipei Province to listen reports from local officials. An elementary school principal asked him, “ Mr. President. It is very hard for our students to study in this hot weather. Could you please increase the school funds so we can buy some equipment to cool the classrooms?” President Chen replied, “ Sure, I will add $100,000 to the school funds so you can install more fans in your schools.” Later, a prison warden asked him the same question and President Chen replied, “No problem. I will add 10 million dollars to the prison funds so you can install more air conditioners in your prisons.” When President left Taipei, his secretary asked him, ”Why do we install fans in schools but air conditioners in prisons?” President Chen said, ”Use your head! What is the chance that we will ever go back to study in elementary schools?”
(Note: Former President Chen was arrested on November 12, 2008 and is currently in prison for money laundering. I am not sure that if he is enjoying the air conditioners that he funded.)
Politicians are not stupid. They are just incompetent.
Please!!! J6P pay attention? Not on his best day. I agree with Farrell. Stop the madness. Treasury is “borrowing” the funds from gubment employees retirement monies ($263 billion) which will be exhausted in Aug. Let us not forget the rolling over of the Treasury bonds, and how much will need to be paid back immediately upon approval of more debt. Insanity. Hurt a little now or die in the streets within 2 years. Your choice, I have already made mine.
Greg, fantastic piece which I’ve shared with many friends and family members. Keep up the great work!
Thank you Greg for being a light of reason in a lunatic nightmare from which the U S A and Canada will likely wake up to when it’s too late.
As a Canadian enjoying lifestyle permitted by a taken-for-granted flow of goods from your country. About 80% of our exports are to the States. When that collapses, where are we?
As I see it, we’re all in this together yet I hear our money guys saying, “Too bad about the U.S. dollar but we’re okay!”
If the US economy crashes, so do we! I can’t , for the life of me, understand the reasoning by our economists here. But then, you said it well!
The media diverts our attention to hockey or baseball or football…..
Listen to the outcry when the price of beer goes up or worse yet, when a brewery goes on strike. Panic in the streets (like when Vancouver lost the Stanley Cup to Boston.)
I agree with you Greg, however, this is a slow motion economic train wreck, the deadline will come and go, congress will lift the debt ceiling, the Fed will continue with covert QE and of course…the DOW will rally and the sheeple will continue to not question a “jobless recovery”
This will continue much much longer than we think. By the time the debt explosion occurs most investors will have dumped their gold because they were tired of waiting for a crisis that seemed would never occur.
Remember, the market can stay irrational much longer than you can stay solvent.
Those whom the gods (Or God) would destroy, they first make mad.
I consider the death and possible murder of Caylee Anthony to be horrific as well as despicable – no child deserves the fate that this young one encountered. I also consider the main stream media’s over wrought, over bearing coverage of the Casey Anthony trial to be just as horrific and despicable. As you stated in your article Greg, this story has zero effect on my life.
In the weeks that the Anthony trial was forced fed by the MSM to the public – the United States pushed ever so closer to the point of no return. Not only financially, but in every way possible. For instance, not one of the news media outlets (to my knowledge) did any kind of in depth reporting on the epic flooding that this country is dealing with. Not one story was done about the amount of farm land that is now flooded and its possible consequences in regards to already high food prices. And it goes on and on – so many important stories of relevance to everyone in this country – which deserved in depth reporting – simply didn’t the attention from the MSM.
The MSM did give the public in depth reporting about every aspect of the Anthony trial. If Casey raised an eyebrow, it was reported upon in great detail. On days where there was not enough news about the Anthony trial to report about – the MSM did the public a favor by doing in depth reports on other irrelevant news. For example, around the time that Japanese officials admitted to full blown meltdowns at the Fukushima nuclear plant – the MSM felt it was necessary to report about Snooki’s car accident in Italy.
In my opinion, the MSM (both national and local outlets) should be ashamed of themselves for reporting on this mindless vomit. This not only goes against every tenet of respectable journalism – it is a disservice to every citizen of the United States.
The deal is we print money, we can live with inflation. Who gives a shi= what the world thinks. Housing is cheap a guy can get a old truck for a few worthless bills and we still have some of the best farmland in the world. Inflation is just telling the old people and investors your old money your setting on is worthless. This is a battle as old as the first paper money. A pound of gold for a pound of potatoes. Scared is for women an kids the earth belongs to the wild boys, always has always will. PEACE
But it would be more interesting than Casey Anthony!
Thank you for your fair reporting over the course of this unbelievable idiocy.
Getting food stored.
The phrase “Panem et Circenses” (L – Bread and Circuses) comes to mind when dealing with the debt problem. For the average Joe, what’s to worry when there’s still pizza, PS3 and the ipod? It seems like the common man has been sufficiently distracted that the major issues will never be addressed, until it’s too late.
And even for those who are aware, there’s a dangerous complacency that believes America will be able to handle anything. Plus, we are in recovery, aren’t we?
Even worse, the supposed leaders of the government are barely literate about the economic situation. There is no serious consideration of appropriate imminent to long-term policies to address them.
There may be no sudden big bang to the end of the American eminence, but it will surely decline as long as no one seems keen on fixing the problems in hand.
There isn’t a single person in my life, friends….relatives…neighbors…co-workers, who would know what the term “debt ceiling” means. I feel like I’m living in a box, all by myself.
Absolutely 100.000% on the target!
This population in America has nooooo idea what is about to happen to ALL of us! It’s going to make the 1920s depression look like a cake walk! (no pun intended) We paste ourselves into other peoples business & lives and completely forget about our OWN! > UNTIL hit’s us in our OWN BACKYARD! Then we say, WHY ME? This happens to other people, never me! Wanna bet? the calm before the ‘REAL’ storm for >>> EVERYONE! is on it’s way!
Good day, Sir.
Any news on 1099 reporting for all transactions greater than $600?
Still on POTUS’s desk?
Thanks, Good luck.
You really know how to make a person loose sleep at night. This is only because I am fairly young 34 and worry what the future holds for me and my family. I hope we will be able to weather this perfect storm and keep our heads above water. It saddens me to see our great country spiral out of control because too many became complacent and uninformed. Ahhhh it drives me crazy. At least you are an example of media who tries to keep us in the know and actually cares.
“As the World Turns” / “As the Country Burns”
HELP !!! I’ve fallen into my TiVo and I can’t get out.
The whole world has become a repeating Soap Opera.
This is not surprising since, as the old saying goes,
“Everything becomes unreal once the money becomes unreal.”
And Boatman, some advice : divorce your mother and swap your
TV-addicted girlfriend for one working a silver claim. Why silver?
Because the other ones are nothing but a bunch of gold diggers.
one can purchase and horde as much gold and silver as one wishes-
but they are not edible products-
IF the economy goes “crash-boom-bang,” just wait and see how the controllers manage to devalue the worth of precious metals ahead of time (or at the right time on their part)- it’s a viable concept that no-one has yet considered, sadly
OK – Mr. Doom and Gloom! How about you check out what has been happening in the economy for the past 35+ years and how every so-called expert has been predicting an economic collapse since then. How about you wake up already and get off your preacher box on how things are going to fall apart…only to 100% IMO readjust your economic forecast as things don’t fall apart as you predicted and then have to extend your timeline…but then again every sky is falling advocate will get it right sooner or later – some way after their time and some during…stop already. You seem to smart to pounder the doom and gloom scenario. Wake up Greg!!!
I like this article alot. I worry for my country and the people in it. I find many things pointed out above and shake my head. I wonder my so many people worry about stupid court cases that don’t affect them but can’t seem to understand why gas prices are so high. Why food cost so much or why the government can’t just figure this out. But as long as they have what they want (i stress want) not need or heaven forbid afford. Everything is ok and life goes on. I see it but really what can you do in all honesty as 1 person in the general scheme. If you are the right 1 person like say bill gates then yes you can make a difference, but as 1 regular joe you still have commitments to work and family so yes its hard and we rely on the the media to give us a look at life. Problem is as said they pick the wrong part to show most of the time. So we stay shletered and hidden. Which adds to another huge problem government chest thumping. I believe its all a game of them against us. I believe they do what they do to confuse most people and it works well. To many people want to be democrat or republican instead of smart. The democrats say ooo they are bad because they spent all your money. then the republicans get kicked out and the democrats take over and do the same thing then the republicans say ooo they are spending all your money same cycle over and over again. To many stupid people that can’t see they are all wrong and need to be held accountable for their actions with our money. I loved when i heard that californina held back payment to officials until they could manage there budget. I forget the exact details but i though many wouldn’t that be great to do that to our officials. then i realized oh wouldn’t matter because most of them don’t need the money they get from the job to live their lives they are rich. I think everyone would aggree we need to give these bozos a term limit just like the president. maybe then they would spend time running the country instead of all their time trying to get re-elected.
Also the funny thing that is sad is all this silly posturing by the presidents to balance a budget. what a sad mess. we are going to cut the budget by 14 trillion, i said yes, over 15 years. CRAP! who cares. like that matters. probably just take the money they save and spend it on something else besides paying off the debt. That is the problem with raising taxes these fools will just use the money on something else. Just like people i know. Hey I could use this money to pay of my credit card debt. na just do the minimum on that and take a trip cause “NOW WE CAN AFFORD IT”, with someone elses money. That is how it is with the people. that is how it is with our government.
“To default or not to default? That is the question.
Whether I should run and hide, or face the anger of the people.”
There are plenty of people in high places that are wondering how long this is all going to stay together. I can tell you that this site is very tame in their comments. The general public is searching for answers and are willing to listen to those who where once chastised. The,”This is America” crowd is finding out that it is not the same America and is proven out by the above written statements.
I would ask you all to prepare for something that has never happened before. Bigger than any fire, storm, earthquake, because it will be man made and will affect us all. Natural forces can be understood and the destruction diminished by outside help. When all the European countries fail and the BRIC alliance faulters, where is the help to come from? When anger turns to revenge, the 12 trillion repatriated US Dollars will cause an inflation of biblical proportion.
Unless you know the instruments of destruction they have used, you will still be susceptible to their lies.
Wow, if all of these predictions are true what I was reading here about, then we, the ordinary tax payers, are in a deep trouble. May good God help to all of us having nothing to do with unfortunate mistakes that our Goverment was making over the period of last several decades.
ok, let’s default.
but first let’s figure out just what the hell we’re talking about.
wanna default? ok, let’s put it to a little test. first thing. cut all your credit cards in half and send them back to the institutions that issued them, along with a letter stating that all further correspondences from your institution will go directly into the trash can, unopened and unread because you feel that a fair value exchange has already taken place based on past payments that you have made to them for the vastly overpriced crap that you have purchased using their card. you now declare us to be even and all of your blithering about interest, surcharges, taxes, fees, etc. no longer holds any interest for you. k, ready? go!
any takers? no? how sad is that?
the great “debt”. who owes what to whom and for what?
the bulk of the debt is owed by “our” government. the treasury prints up a bunch of bonds, uses the bonds for collateral to borrow money from the fed (crown, city, red shield) to carry out a lunatic spending spree (more for armies, weapons and other tools of imperialistic conquering than for our crumbling infrastructure). did you really think that this was all financed by your tax dollars? no. what the fed (not the government) takes in from income and other taxes is not a drop in the bucket compared to the budget of “our” out of control, money junkie government.
the real reason we are taxed is to place a burden upon us that precludes any real idea of actually experiencing the wonders of liberty. in other words, to enslave us.
if we really lived in the land of the free and the home of the brave that we sing about before every ball game, we would be living under constutional law instead of the maritime laws of the crown (ucc). the fed would not exist and the government of the people by the people and for the people (an incredibly succinct definition of anarchy by the way) would draw up a manageable budget every year, print the money needed to carry out the budget and circulate to the people enough monies to carry out a healthy commerce for that year. all monies would be subject to backing by gnp, commodities or other hard collateral. and yes, as we now know all too well, this would require the stringent oversight of the people.
so, it all comes back to the fed (sometimes directly, sometimes by more circuitous routes, but always back to the fed). what do we owe the fed for exactly? outside, specious control of our very lives and nothing more.
sounds like a bad deal all around to me.
This is a great comment g.johnson! Completely true and completely sad. TH
, real “total U / S debts pub pvt c$200 tril two hundred tril
12 zero, gdp$14/t/yr.” West gov’s cant pay prin, borrow to pay int.”
see J oe S tiglitz, “the $3tril w a r” (now $3.7 t) book. . . “
When blood comes to Main Street, here is my top-5 media shills who will be seeing hanging on a lamp post:
1- Bill O´Reilly
2- Sean Insanity
3- Ed Schultz
4- Chris Matthews
5- Bill Maher,
Taking it to top-10, anyone?
You are one of us, sure !
I´d never put you in that hate-list !
You´ll be in a good-doers list, with: Gerald Celente, Peter Schiff, Alex Jones, etc.
Ah, Greg, by the way …
Take in mind that people like us are to be labeled ” The Resistance”.
You´ll remember my words when the Police State crack down on us all after a staged nuclear-911 false flag domestic terror operation.
You think I am a nut conspiracy theorist, huh ?
Wanna a hint of it happenning right now ?
He armed the mexican drug lords.
Any bell ringing ?
By the way … have you noticed that several of theses so-called “conspiracy theories” are gradually and consistantly becoming true by the day? Want a list? BP Spill, Fukushima are good starters, huh?
People know something is wrong and are very uneasy. They are not talking about it though. Can’t find mason jars at yard sales or thift shops anymore. That indicates that people are more aware than anything else. Canning is not one of the more pleasant events we farm raised folks remember in my area. If you can find something to can. My raised garden isn’t producing and the farmer”s market is not open.Mason jars are great for storing rice,beans, and pasta —-
Defaulting on debt payments does not have to be an issue should the debt ceiling not be raised. There is more than enough money coming in to service the debt. Just pay the debt service FIRST and don’t fund something else.
This is shucking and jiving. Service the debt and then close the FDA, FCC, HUD, EPA, Dept. of Education, Dept. of Energy, USDA, and cut welfare. Stop funding the arts and education. Sell-off Federal lands. The fix is simple, but it’s not easy because so many Americans are used to living off their neighbors and borrowed money.
Overall, it seems that the power elite are becoming quite nervous because more and more Americans are now becoming “aware” of what they are doing to the dollar. Thanks in no small part to Patriots like you, Greg. I was shocked to learn how the $USD index has steadily been dropping for some time now. It almost looks and feels that government is quickly scrambling to get their security network in place while the let the dollar shrivel on the vine before they finally decide to kill the dollar. Thanks for being one of those voices of reason still out there, Greg! Wish it was better news…but at least it is for real 🙂
We ARE out of control in America. I say stop the bleeding now too. I’m ready to just get it over with and start the brutal climb back up the mountain. America is such a mess that I’m pretty much at the point where I hope they DO default. Nothing lasts forever and it’s just the wake up call thei country needs.. Just get it over with already…
Let the detox begin!
good thing for her casey is a young women….some old white guy would have got what he deserved……and then there is OJ….
my mom n girlfriend were glued to the screen 24/7……HUH?
debt ceiling: extend n pretend is the rule of law in keynesian econopolitics….nobody getting reelected by taking away the keg before everyone’s passed out….even tho the next morning and night he would be a hero.
very bad things will have to happen before this great fiat-credit-paper-frankenstein experiment is proved to be what it is, greg.
its just the nature of human beings.
I just returned from a wonderful vacation with my wife and children. Don’t forget to live your life and have some fun while the criminals we keep re-electing destroy our Country, our money, our moral and societal fabric. I guarantee collapse too Greg, but the sun came up today, and we only have so many sunny days in our lives, so enjoy them to the fullest and repeat. I think the saddest thing about the MSM propoganda machine is that there are so many beautiful days here in America that they just don’t want us to see. As soon as Americans lose their fear of the so called war on terror, it’s game over for the merchants of fear.