THE END OF THE WORLD AS WE KNOW IT????
Without domestic consumption, America really has essentially no economy under the current structure.
In order to consume, Americans need an income or access to leverage. As banks are cutting off credit to consumers and businesses.....more and more Americans are relying on their incomes to survive.
Unfortunately, layoffs are just beginning to kick into gear as 17% of the workers in America are unemployed per U6 government statistics.
Now practically every city, county and state are beginning to layoff massive numbers of workers...so are private companies.
Toyota Closure Could Erase 40,000 Jobs in California
NetJets to lay off 5 percent of work force NOT BUFFETT!!!!!!!
Broward commissioners approved a flat tax rate that will lead to cuts at the sheriff's office and parks and libraries.
Fools...none of this is fun...it is simply the reality of Zombulation policies that will eventually destroy the economy as we know it. You can't simply cut off credit to a highly leveraged domestic consumption economy with a massive government on top of it and not expect total destruction to the result.
Sure there are Fools telling you that this is not as bad as The Great Depression....and that is only because government is running a $2 Trillion dollar deficit. Without that deficit, this would be MUCH WORSE than The Great Depression....with tens of millions of Americans on the streets fending on their own for food and shelter.
And if we keep running the deficit....our currency will be worthless in the very near future as the deficit will only widen as the bankers cut off credit to the private economy and state and local government must balance budgets forcing even more cuts.
It would have been one thing if the bankers cut off credit BEFORE they infected our economy with over $25 Trillion of swap induced toxic debt.....but cutting off credit AFTER and forcing the population to try to service a mathematically foreseeable unservicable amount of debt is Economic Treason that will inevitably lead to the rapid impoverishment of our entire nation.
Without credit.....a credit dependent and highly leveraged domestic consumption economy will be obliterated ....as it tries to service a massive amount of debt taking fund and support its government at the same time. Between interest and taxes....there is not enough left for food and shelter.
9.09 has just started....MOAP is here......you should now be prepared.