Posts Tagged ‘US economy’


Dominique de Kevelioc de BailleulBefore It’s News
May 4, 2012

In a riveting interview on TruNews Radio, Wednesday, private investigator Doug Hagmann said high-level, reliable sources told him the U.S. Department of Homeland Security (DHS) is preparing for “massive civil war” in America.

“We have problems . . . The federal government is preparing for civil uprising,” he added, “so every time you hear about troop movements, every time you hear about movements of military equipment, the militarization of the police, the buying of the ammunition, all of this is . . . they (DHS) are preparing for a massive uprising.”

Hagmann goes on to say that his sources tell him the concerns of the DHS stem from a collapse of the U.S. dollar and the hyperinflation a collapse in the value of the world’s primary reserve currency implies to a nation of 311 million Americans, who, for the significant portion of the population, is armed.

Uprisings in Greece is, indeed, a problem, but an uprising of armed Americans becomes a matter of serious national security, a point addressed in a recent report by the Pentagon and highlighted as a vulnerability and threat to the U.S. during war-game exercises at the Department of Defense last year, according to one of the DoD’s war-game participants, Jim Rickards, author of Currency Wars: The Making of the Next Global Crisis.

Through his sources, Hagmann confirmed Rickards’ ongoing thesis of a fear of a U.S. dollar collapse at the hands of the Chinese (U.S. treasury bond holders of approximately $1 trillion) and, possibly, the Russians (threatening to launch a gold-backed ruble as an attractive alternative to the U.S. dollar) in retaliation for aggressive U.S. foreign policy initiatives against China’s and Russia’s strategic allies Iran and Syria.

“The one source that we have I’ve known since 1979,” Hagmann continued. “He started out as a patrol officer and currently he is now working for a federal agency under the umbrella of the Department of Homeland Security; he’s in a position to know what policies are being initiated, what policies are being planned at this point, and he’s telling us right now—look, what you’re seeing is just the tip of the iceberg. We are preparing, we, meaning the government, we are preparing for a massive civil war in this country.”

“There’s no hyperbole here,” he added, echoing Trends Research Institute’s Founder Gerald Celente’s forecast of last year. Celente expects a collapse of the U.S. dollar and riots in America some time this year.

Since Celente’s ‘Civil War’ prediction of last year, executive orders NDAA and National Defense Resources Preparedness were signed into law by President Obama, which are both politically damaging actions taken by a sitting president.

And most recently, requests made by the DHS for the procurement of 450 million rounds of hollow-point ammunition only fuels speculation of an upcoming tragic event expected on American soil.

These major events, as shocking to the American people as they are, have taken place during an election year.

Escalating preparatory activities by the executive branch and DHS throughout the last decade—from the Patriot Act, to countless executive orders drafted to suspend (or strip) American civil liberties “are just the beginning” of the nightmare to come, Hagmann said.

He added, “It’s going to get so much worse toward the election, and I’m not even sure we’re going to have an election in this country. It’s going to be that bad, and this, as well, is coming from my sources. But one source in particular said, ‘look, you don’t understand how bad it is.’ This stuff is real; these people, the Department of Homeland Security (DHS), they are ready to fight the American people.”

TruNews Wiles asked Hagmann: who does the DHS expect to fight, in particular? Another North versus South, the Yankees against the Confederates? Hagmann stated the situation is far worse than a struggle between any two factions within the U.S.; it’s an anticipated nationwide emergency event centered on the nation’s currency.

“What they [DHS] are expecting, and again, this is according to my sources, what they’re expecting is the un-sustainability of the American dollar,” Hagmann said. “And we know for a fact that we can no longer service our debt. There’s going to be a period of hyperinflation . . . the dollar will be worthless . . . The economic collapse will be so severe, people won’t be ready for this.”

Source: Full TruNews interview, May 2, 2012.


Rob Wile
businessinsider.com
April 5, 2012

A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness.

The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57 percent said the decision “involved the possibility of moving existing activities out of the U.S.”

Meanwhile, only 9 percent considered moving existing activities from another country into the U.S.

Read more

 


Kurt Nimmo
Infowars.com
March 28, 2012

Federal Reserve boss Ben Bernanke told ABC’s Diane Swayer on Tuesday that gas prices will continue to skyrocket through the summer.

Bernanke told Sawyer gas prices “are a major problem” and he admitted they are “a hardship for lots of people.”

During the interview, he tried to pawn off the fallacy that gas prices are responsible for inflation, which he said will escalate over the next few months.

By inflation Bernanke means price increases. As Ron Paul notes, blame for this can be placed at the doorstep of the Federal Reserve.

“Most economists fail to understand that inflation is at its root a monetary phenomenon,” Paul wrote last March. “There may be other factors that contribute to price increases, such as famine, flooding, or global unrest, but those effects are transient. Consistently citing only these factors, while never acknowledging the effects of monetary policy, is a cop-out.”

Bernanke also claimed the rise in gas prices can be attributed to Iran and troubles in the Middle East. “The Middle East is very unpredictable — lots of things happening with respect to Iran and so on, so you know, we obviously — need to be — very attentive to that,” he told Sawyer.

Bernanke did not bother to explain how the Federal Reserve creates monetary inflation. It is really quite simple. More money equals less value.

The Federal Reserve is currently doing this through quantitative easing – increasing the money supply and flooding financial institutions with capital. Economists note that the problem with this is that although there is more money in the economic system, there is still a fixed amount of goods for sale.

Bernanke “admits he doesn’t understand why the economy is the way it is. Reality doesn’t fit his theory,” writes Zero Hedge. “So, what do you do when you are the head of the world’s biggest printing press, and don’t know what else to do? Why QE3 of course.”

On Tuesday, Bernanke hinted that QE3 may be right around the corner. He said more dilution of the money supply will be required due to vexatious unemployment.

High unemployment is directly related the the Federal Reserve and its engineering of boom and bust cycles through monetary policy. The Fed – as Bernanke has sheepishly admitted – was responsible for the so-called Great Depression and its staggering unemployment. It’s the same today.

Ben Bernanke is simply reading his bankster script, as instructed. If he was sincere, he would admit that rising oil prices do not create inflation. Oil prices are a reflection of a devalued dollar.

In an interview last year, ShadowStats editor John Williams said “the dollar’s weakness is doubly inflationary. It is the biggest factor behind the ongoing rise in oil prices.”

It’s not greedy oil baron in the Middle East or Iran threatening to close down the Strait of Hormuz in response to an attack.

It’s the Federal Reserve and the central banks.

 


Irwin Kellner
MarketWatch
March 26, 2012

Now that inflation is beginning to pick up, it is vital to distinguish between what is real and what is just an illusion caused by inflation. If one does not, one might very well come away with the impression that the economy is shifting into higher gear when, in fact, it is not.

Take retail sales, for example. On the surface they are encouraging, since February’s sales gain was the most in five months. And since retail sales are one-half of consumers’ spending, which in turn makes up two-thirds of overall economic activity, one might be tempted to conclude that the worst is over.

One would be wrong. First of all, these are dollar figures, adjusted for the time of year but not for inflation. Second, most of the rise reflected a 6% surge in gasoline prices.

Read more

 


Doug Casey
Casey Research
March 25, 2012

In an interview with Louis James, the inimitable Doug Casey throws cold water on those celebrating the economic recovery.

[Skype rings: It’s Doug Casey, calling from Cafayate, Argentina. He sounds tired, but pleased with himself.]

Doug: Lobo, get out your mower; it’s time to cut down some green shoots again, and debunk a bit of the so-called recovery.

Louis: Ah. I have to say, Doug, the so-called recovery is looking more than “so-called” to a lot of smart folks. Even our own Terry Coxon says the recovery is real, albeit weak.

Doug: Terry’s probably looking at it by the numbers, some of which are reported to be improving. But let’s come back to the numbers later and start with fundamentals. The first order of business, as usual, is a definition: a depression is a period of time in which the average standard of living declines significantly. I believe that’s what we’re seeing now, whatever the numbers produced by the politicians may seem to tell us.

Read more

 


Infowars.com
Monday, March 26, 2012

Alex talks with pastor and author Lindsey Williams about the timeline on the financial crash, what currency is a safe bet, and why Obama may not be re-elected due to his involvement in Keystone Pipeline.

 


Carl Herman
Washington’s Blog
Monday, March 19, 2012

“A mere demarcation on parchment of the constitutional limits (of government) is not a sufficient guard against those encroachments which lead to a tyrannical concentration of all the powers of government in the same hands.” – James Madison, Federalist Paper #48, 1788.

President Obama signed an Executive Order for “National Defense” yesterday that claims executive authority to seize all US resources and persons, including during peacetime, for self-declared “national defense.”

“American exceptionalism” is the belief that a 200+ year-old parchment in the National Archives has magical powers to somehow guarantee limited government from 1% tyranny, despite the specific and clear warnings of the US Founders, despite world history of repeated oligarchic/1% tyranny claiming to be for the “good of the people,” and despite US history’s descent

into vicious psychopathy (short version here: US war history in 2 minutes) hidden in plain view with paper-thin corporate media propaganda.

I don’t know about you, but both my grandfathers were in the US military during the gruesome WW1. My father, father-in-law, and only uncle were in a brutal WW2. Both wars were functions of colonialism; a 1%’s vicious and rapacious greed.

Now, we’re all looking at WW3 that includes official policy and dark rhetoric for US first-strike use of nuclear weapons on Iran. This, after multiple current lie-started and treaty-violating wars surrounding Iran, increased US military preparationsmultiple war-propagandizing US political “leaders,” and recent history of US overthrowing Iran’s democracy and 35 consecutive years of US war on Iran that killed over one million Iranians.

I don’t know about you, but I’m teaching the obvious crimes in war and money, destruction of Constitutional Rights rights (see specific links below), and asking students (of all ages) what they see to do about these clear facts. The first answer people see is to help people get over their “American exceptionalism” to recognize these massive crimes, and demand arrests of the obvious criminal “leadership.”

I don’t know about you, but I refuse to be silent in face of lying and criminal government policies that annually murder millions, harm billions, and loot trillions of the 99%’s dollars.

What will you do?

Here is the US government claiming it can Constitutionally assassinate Americans upon the non-reviewable dictate of the leader, as these criminals take psychopathic steps to murder Americans who expose their crimes.

Here is NDAA 2012 where US government claims it can Constitutionally disappear Americans and then appoint a tribunal with death sentence authority (unless unlimited detention is their choice). Here is the 2006 Military Commissions Act that says the same. This is fascist terrorism to silence Americans from communicating that the 1% are War Criminals to arrest NOW.

Here is US government claiming it can Constitutionally control-drown (waterboard) anyone they declare a “terrorist” as a 1% terror-tactic to silence Americans.

Again, what will you do?

 


The Economic Collapse
Wednesday, March 14, 2012

All over America, there are millions of Americans that are quietly preparing for doomsday.  They are turning spare rooms into long-term food storage pantries, they are planting survival gardens, they are converting their homes over to alternative sources of energy, they are taking self-defense courses and they are stocking up on just about anything you can imagine.


They are called “preppers”, and their numbers have absolutely exploded in recent years.  In fact, you might be living next door to one and never even realize it.  According to a recent Daily Mail article, there are approximately 3 million preppers in the United States today.  Others believe that the true number is significantly higher than that.  This movement has become so popular that there are now even television shows being done about preppers.  The most popular is probably “Doomsday Preppers” on the National Geographic Channel.  This movement is still growing and is not going to go away any time soon.  In fact, as the world continues to become even more unstable it is likely that a lot more Americans will find themselves becoming preppers in the years ahead.

So what exactly are all these people so concerned about?  Exactly why are there millions of Americans that are feverishly preparing for doomsday?

Well, the truth is that you will never find two preppers that are exactly alike.  Some are deeply concerned about the potential for natural disasters and believe that we are now entering into a time when there will be catastrophic earth changes.  Other preppers believe that terrorism is the most significant threat to our way of life.  Killer pandemics, an EMP attack, World War III, martial law, solar megastorms, asteroid strikes and societal chaos are some of the other things that some preppers are worried about.

Of course an economic collapse is one of the biggest concerns for preppers, and without a doubt the U.S. economy is deeply troubled.  A collapse of the financial system would change all of our lives permanently.

But it isn’t just preppers that are concerned about these things.

A recent survey conducted by National Geographic asked Americans the following question….

“Which of the following, if any, do you think might happen in the United States in the next 25 years? Please choose all that apply.”

These were the results….

Significant Earthquake 64%
Significant Hurricane 63%
Terrorist Attack 55%
Financial Collapse 51%
Significant Blackout 37%
Pandemic, Such as From a Super-Virus 29%
Nuclear Fallout 14%
None of These 13%

Obviously there are a whole lot of people out there that feel as though we are heading for some really bad stuff.

So if hard times are coming, why not prepare for them?

After all, none of us want to end up like the poor people of New Orleans in the aftermath of Hurricane Katrina.  Large numbers of people were herded into the Superdome and food and water ran out really fast.  There was rampant looting of stores and people were shooting each other in the streets.  It was mass chaos.

The following is what one Australian blogger experienced while staying in the Superdome during Hurricane Katrina….

Last night was horrendous. I heard shouting, and drinks machines being smashed. There’s no sanitation and it’s so smelly. My hair is greasy and I feel a wreck. There are crack alleys among the maze of corridors. The lights are broken in the loos which, as well as being disgusting, have become dangerous, so we now only go as a big group.

More people are arriving, and the dome is like a refugee camp. I see two soldiers carrying a corpse and we hear there are more dead in the basement.

As an article in the New York Times from that time period detailed, food and water were in very short supply and those cramped into the Superdome were rapidly becoming impatient….

Desperation was in the air. Danielle Shelby tugged at a reporter’s arm. “I have a handicapped daughter,” she said. “She’s over there with her wheelchair. She’s hot. We don’t have any water. I’m afraid she’s going to have a seizure.”

Others crowded around. “I’ve been in the food line twice, and every time I get to the front they tell me they don’t have any left,” said Juanita McFerrin, 80.

Later on in that same article, we are told that there were fights, rapes and at least one suicide in the Superdome during that time….

It got worse. Ms. Rousell recalled hearing a loud bang Tuesday afternoon as the body of a man slapped the concrete at the edge of the football field in a fatal suicidal plunge, after he apparently learned that his home had been destroyed. Others told of fights that broke out in food lines, and of a husband and wife who slugged each other in a wild argument.

Several residents said they had heard of children being raped, though it was not clear whether anyone reported such incidents to the authorities, and no officials could be found who could confirm the accounts.

To get an even better idea of what life in New Orleans was like in the aftermath of Hurricane Katrina, just check out this video.

Within just a few days food, water and supplies started pouring into New Orleans and things started slowly getting back to normal, but imagine what things would look like in this country if we had to deal with a national disaster that stretched on for months or even years?

Many preppers are not taking any chances.  Many are absolutely determined to be able to take care of their families and friends no matter what the years ahead may bring.

ABC News recently profiled one prepper named Tim Ralston….

Tim Ralston, a married father of two from Arizona, is one such “prepper.”

“There’s a lot of different things that could happen,” Ralston said. “For me, I look at prepping as kind of like insurance. You have car insurance, health insurance, life insurance.”

Call it Apocalypse insurance. Ralston turned his family’s two-car garage into a staging area. Inside is a trailer, which he keeps packed and ready to go at all times, stockpiles of freeze-dried food, including cartons of canned chicken with a shelf life of 15 years, survival gear, such as a system for purifying polluted water, first aid kits and lots of weapons and ammunition. His son has his own AK-47.

Some preppers are going to the extreme and are spending huge amounts of money on their prepping.

CNN recently profiled one Australian prepper that has spent about $350,000preparing for doomsday….

Bast has spent about $5,000 on stockpiles of food and water, and $11,000 on equipment including gas cookers, generators, batteries, water purifiers and solar power. He also purchased roughly an acre of land that’s a 75-minute drive from Melbourne and 1,500 feet above sea level (in order to stay high and dry in case of a flood or tsunami). He has built a house there, as well as a bunker to serve as his “safe spot” in the event of an emergency. Together, the land, buildings and bunker have cost him a total of about $330,000.

He’s also spent $10,000 on an 8-year old Toyota HiLux pickup truck to drive to his safe spot.

But the truth is that prepping does not have to be expensive.

The key is to start by focusing on the five basics….

1) Food

2) Water

3) Shelter

4) Energy

5) Self-Defense

There are some practical things that just about anyone can do even if you don’t have a lot of money.

For example, when you go to the store try to pick up a few extra items that are on sale and add them to your supplies.  If you rotate your food supplies, they won’t go bad.

In addition, just about anyone can plant a garden.  Often fruits and vegetables are some of the most expensive items at the grocery store, and so growing a garden can end up saving you a lot of money.

Get educated.  There are dozens of prepper websites out there where you can get an education in prepping for free.  The following are a few examples of some of the excellent prepper websites that are out there today….

*Survival Blog

*American Preppers Network

*The Survival Mom

*SHTFPlan.com

*Prepper Website

*Survival 4 Christians

*Backdoor Survival

*Off Grid Survival

The truth is that our world is becoming increasingly unstable in a whole bunch of different ways and we all need to learn how to prepare for the difficult years ahead.

As the economy continues to fall apart, America is going to become a veryheartless place.  You don’t want to be caught in the middle of societal chaos without a plan.

None of us should be relying on the government to save us when things hit the fan.  We all saw what happened after Hurricane Katrina.  Those that were depending on the government were deeply disappointed.

We should all try to become as independent of the system as we can, because the system is failing.  In the years ahead there might not be anybody to help you and your family, so you need to be working hard right now to ensure that you and your family will be taken care of.

Yes, as you may have guessed by now, I am a prepper too.  My wife and I moved to an entirely different state and totally changed our lifestyle to prepare for what is coming.

Hopefully this article will inspire many more Americans to prepare for what is coming.  A great economic collapse is on the horizon and time is rapidly running out.


Worries over a “major catastrophe” hitting the United States also drive firearms purchases

Paul Joseph Watson
Infowars.com
Wednesday, March 14, 2012

Gun shops are citing fears over Barack Obama’s re-election to explain surging sales, with one store in Lubbock, Texas reporting “drastic” increases in firearms purchases, as a new National Geographic survey finds a majority of respondents believe America will be hit with a “major catastrophe” at some point.

Video

“Now that it’s election season again, you have people uncertain… You have a customer or two coming in and saying that they’re buying because they’re afraid they won’t be able to get it soon,” said J.D. Clay, salesman at Sharpshooters Inc.

Sharpshooters report a 40 per cent increase in recent sales, a figure that has been matched or surpassed nationwide. Gun store owners in West Texas are reporting 50 per cent hikes in sales. The FBI reports a 23 per cent increase in background checks compared to the year before in the lone star state.

After record one day sales on Black Friday back in December, gun stores are also celebrating all time high sales for the month of February.

Gun manufacturerSmith & Wesson’s shares also shot up 18 per cent last week, their highest level in two years, on the back of reports of a 60 per cent surge in backlog orders.

Interest in gun shows is also rampant, with a record turnout of nearly 4,000 people showing up to an event in Iowa this past weekend. Concealed carry permits in the state have soared by as much as 270 per cent over the last year in some counties.

Gun enthusiasts fear that Obama will use his same duck second term to follow through on a promise he made to gun control advocate Sarah Brady during a White House meeting last year, that his administration was working “under the radar” to sneak attack the second amendment rights of American citizens.

“I’m constantly getting questions from people in the community about this,” firearms expert Alan Korwin told the Houston Chronicle. “We saw a fire sale when he was elected last time. But the speculation is that now … with his need to get re-elected gone, the sky is the limit on attacking the Second Amendment.”

NRA Executive Vice President Wayne LaPierre has echoed the fears, telling a CPAC crowd last month, “All that first term, lip service to gun owners is just part of a massive Obama conspiracy to deceive voters and hide his true intentions to destroy the Second Amendment during his second term.”

More generalized fears over an economic collapse and a breakdown in society are also spurring gun purchases as well as other items in preparation for “doomsday” scenarios.

A recent survey commissioned by National Geographic found that there are around 3 million “preppers” in America who are actively taking steps to protect themselves from the threat of unforeseen chaos. The vast majority of Americans who took part in the poll said they expected a “major catastrophe” to hit the United States at some point, with 51% believing there will be a financial collapse within 25 years and 29% fearing a super virus pandemic.


The Economic Collapse
March 9, 2012

Not so fast.  Those that are publicly declaring that an economic recovery has arrived are ignoring a whole host of numbers that indicate that the U.S. economy is in absolutely horrendous shape.  The truth is that the health of an economy should not be measured by how well the stock market is doing.  Rather, the truth health of an economy should be evaluated by looking at numbers for things like jobs, housing, poverty and debt.  Some of the latest economic statistics indicate that unemployment is getting a little bit worse, that the housing market continues to deteriorate, that poverty in America continues to soar and that our debt problem is worse than ever.  If we were truly experiencing the kind of economic recovery that the United States has experienced after every other post-World War II recession we would see a sharp improvement across the board in most of our economic statistics.  But that simply is not happening.  Sadly, this is about as much of an “economic recovery” as we are going to get because soon the economy will be getting much worse.  So enjoy this period of relative stability while you can.


The Obama administration would have us believe that unemployment in the United States has declined, but the truth is that the percentage of working age Americans that are employed has stayed very, very flat for more than two years and now there are some measures of unemployment that are actually getting worse.

For example, according to Gallup the unemployment rate in the United States has risen from 8.5% in December to 8.6% in January to 9.1% in February.  The Obama administration would have us believe that it is actually going the other direction.

Initial unemployment claims are rising again.  For the week ending March 3rd, they increased by 8,000 over the previous week to 362,000.  This is not the kind of good news that people were hoping for.

What the U.S. economy could really use are millions of good jobs.  But those are being shipped out of the country at a staggering pace.

Right now there are millions of Americans in their prime working years that are sitting at home wondering what to do with their lives.  The average duration of unemployment in the United States continues to hover near a record high, and if we were truly experiencing an economic recovery it should have been falling by now.

But a lot of Americans have bought into the propaganda about an economic recovery and they are out running up huge amounts of debt once again.  In January, consumer credit increased by much more than expected.  The following is from a recent Reuters report….

Nonrevolving credit, which includes auto loans as well as student loans made by the government, rose $20.723 billion during the month. That was the biggest increase in dollar terms since November 2001, when credit was surging in the wake of the September 11 attacks in New York and Washington.

Don’t fall into the trap of debt slavery.  During the last recession millions of Americans lost their homes and most of what they owned because they got overextended.

Don’t do it.

The U.S. housing market continues to deeply struggle as well.  If we were really in an economic recovery housing would be bouncing back.  But that is not happening.  Just consider the following facts….

*The number of new homes sold in the United States continues to hover near a record low.

*U.S. home prices in the 4th quarter of 2011 were four percent lower than they were during the 4th quarter of 2010.

*According to CoreLogic, 22.8 percent of all homes with a mortgage in the United States were in negative equity as of the end of the 4th quarter of 2011.  That was an increase from 22.1 percent in the third quarter.

Why are things still getting worse for the U.S housing market?

That is a really good question.

We should have seen some improvement by now.

But it isn’t happening.

Also, poverty in America continues to explode.

For example, the number of Americans on food stamps has increased to 46.5 million – a brand new all-time record.

If we really were in an economic recovery, wouldn’t that number be going down?

We should be thankful that the U.S. economy is not declining as rapidly as it was during 2008 and 2009.  But what we are experiencing right now is not an economic recovery.  It is simply just a bubble of false hope.

The big problem is that our nation is covered in an ocean of constantly expanding debt.

U.S. consumers are drowning in debt, U.S. businesses have pushed debt levels to the red line, and the U.S. financial system is massively overleveraged.

Of course government debt is our biggest debt problem of all.

All over the nation, state and local governments are on the verge of financial ruin.

If we were in the middle of an economic recovery, so many states would not be in crisis mode.  A recent article in the Los Angeles Times declared that “California could run out of cash in March“.  As the economy continues to crumble we are going to hear a lot more of this kind of thing.

A lot of local governments around the nation are on the verge of total financial collapse.  Stockton, California has announced that they will be defaulting on some debt payments, and Suffolk County in New York recently declared a fiscal emergency after discovering that it would rack up more than 500 million dollars of debt between 2011 and 2013.

Keep your eyes open for more news items like this in the months ahead.

Of course the biggest problem of all is the U.S. national debt and it continues to rapidly get worse.

According to the Congressional Budget Office, the U.S. government had a budget deficit of 229 billion dollars in the month of February.  That is the worst one month budget deficit in the history of the United States.

The Congressional Budget Office also says that the U.S. government is now borrowing 42 cents of every single dollar that it spends.

Ouch.

The U.S. national debt has gotten more than 59 times larger since 1950.

The U.S. national debt is now more than 22 times larger than it was when Jimmy Carter became president.

Are there any words in the English language that are strong enough to describe how foolish we have been?

Of course we won’t be able to accumulate so much debt indefinitely.  At some point the trillion dollar deficits will stop and our false prosperity will disappear.

If you want to get an idea of what happens then, just take a look at Greece.

But Barack Obama and most members of the U.S. Congress don’t really care about what they are doing to our future.

What they care about is winning the next election so that they can continue living their fabulous lives.

Barack Obama is supposed to be taking care of the American people, but instead he has been very busy taking care of the people who helped him get elected.  Politics in America is all about money.  Just check out the following very short excerpt from a recent article in the Washington Post….

More than half of Obama’s 47 biggest fundraisers, those who collected at least $500,000 for his campaign, have been given administration jobs. Nine more have been appointed to presidential boards and committees.

At least 24 Obama bundlers were given posts as foreign ambassadors, including in Finland, Australia, Portugal and Luxembourg. Among them is Don Beyer, a former Virginia lieutenant governor who serves as ambassador to Switzerland and Liechtenstein.

Washington D.C. is deeply corrupt and if you are waiting for our politicians to fix our problems you are going to be deeply disappointed.

The federal government is not going to save you.

Our politicians are not going to save you.

You better figure out how you are going to take care of yourself and your family in the years ahead because this is about as good as things are going to get.

This “economic recovery” is about to end and more pain is about to begin.