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alstry (36.12)

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June 09, 2009 – Comments (8)

In a nation where the private sector's sales and profits supported the public sector in its first 230 years of existence........such support can no longer be provided.

The Federal Deficit is $2 Trillion dollars and likely to GROW substantially before the year is out.

If we were to tax the top 50% of wage earners 100% of their incomes, it would not be sufficient to cover the current deficit......not factoring any growth driving our children into further debt.

1 in 8 mortgages are in default or late making payments.

New Home sales are DOWN 80%.

Auto Sales are DOWN 50% and contracting.

Office Rent in NYC is DOWN 70%.

50 Million Americans do not have health coverage.  Many with Health Coverage are foregoing treatment because of an inability to copay or pay the deductible.

Hosptials and Clinics are laying off tens of thousands of workers around the nation.

Thousands of Auto Dealers closed or about to shut down and hundreds of thousands of workers released from dealers, manurfacturers, and suppliers.

OVER HALF the companies in America are instituting WAGE CUTS, WORK CUTBACKS, or WAGE FREEZES as fuel costs and health insurance skyrocket.

Thousands of retailers have shut down and tens of thousands slated to shut down in the near future.

600,000 Elderly Americans are LATE on their mortgage payments.

Cities, Counties, and States around America are BROKE and their outlook for revenues are deteriorating.

The only businesses really functioning satisfactorily are those serving the government, government workers or government payment recipients like WalMart and health care serving the poor....why do you think Washington D.C. area is still functioning and yet there is about one hundred vacant office buildings in Northern Va.???

If govnerment stops spending....our economy contracts 50%!!!!!!  and government is out of money.

Welcome to Alstry's world as idiots talk about green shoots and a second half recovery.

Which country do you think we are going to bomb......or when do you think we get an "unexpected" or "surprise" attack so we can put our people back to work and mask this reality?????

 

8 Comments – Post Your Own

#1) On June 09, 2009 at 9:48 AM, ati2ud (31.39) wrote:

Which country do you think we are going to bomb......or when do you think we get an "unexpected" or "surprise" attack so we can put our people back to work and mask this reality?????

 

interesting question.  Not that I agree with any conspiracy or anything like that, but interesting.  After all, by ending something in one country and just moving next door, it has assured me of a job still.

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#2) On June 09, 2009 at 10:15 AM, jddubya (< 20) wrote:

I think we'll let other countries go to war where we can be the major supplier of weapons and services - ka-ching!

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#3) On June 09, 2009 at 10:32 AM, jesusfreakinco (29.03) wrote:

Which country do you think we are going to bomb......or when do you think we get an "unexpected" or "surprise" attack so we can put our people back to work and mask this reality?????

Huh?  Where did this come from?

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#4) On June 09, 2009 at 10:43 AM, alstry (36.12) wrote:

Let me explain....in the end....all comes down to credibility.

Credibility in a currency is the lifeblood of its existance.  When you use it for trade, your partner must believe that the piece of paper you are handing them is a credible note backed by something.

It is clear that the tax receipts coming into USA Inc are no longer sufficient to cover the amount of money being borrowed.  Thus the credibility of the dollar is being called into question all over the world......

Soon, instead of acceptiong one dollar for an item, the partner will want two or three.........and as conditions continue to deteriorate.....more.

Without a credible currency.....a nation can't trade and its economy can't function.

At this point America is in a credibility crisis on many fronts.....its government, its accounting, its federal reserve, its banking system, its foreign policy, etc.....

The spin machine is working overtime as we speak....and the Chinese and others laugh at us...

As the world backs off.......we will become more and more isolated and trade will become much more difficult.

In the end, credibility is earned in one of two ways.....it is earned or it is imposed.

The above question contemplates the latter.

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#5) On June 09, 2009 at 12:21 PM, jesusfreakinco (29.03) wrote:

At this point America is in a credibility crisis on many fronts.....its government, its accounting, its federal reserve, its banking system, its foreign policy, etc.....

We agree on the credibility issue. I just don't buy into the conspiracy theory that the US govt is going to create a war or crisis to save us all economically.  I see the lefties saying that about Bush, but the lefties saying this about Obama?  Not gonna happen.

JFC

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#6) On June 09, 2009 at 12:28 PM, alstry (36.12) wrote:

You won't have a choice......if we pursue a hyperinflationary policy....we will need to figure out a way how to force foreigners to deal with us...accept our money to sustain our continued deficit spending

Nobody wants to accept a currency or debt obligation that will be devalued due to massive printing w/o productivity behind it....at this point, there simply are no more bubbles in the private sector to inflate to keep tax dollars flowing to the federal government.

Obama will be faced with a currency of little value and population of starving people....what would you do if your family was starving???

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#7) On June 09, 2009 at 12:42 PM, scorp1us (< 20) wrote:

North Korea. The US will plant, and detonate a nuclear bomb in South Korea, then mobilize to strike back. We will then create one Democatic Korea to replace China because China is getting pissy about Federal Reserve Notes. We will mandate that the US/Korea trade is done in Dollars and they can freely invest in our bonds. 

With North Korea being a totalrian state, we'll be able to change the manufacturing base swiftly and without protest.

 

 

 

 

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#8) On June 09, 2009 at 12:51 PM, alstry (36.12) wrote:

scorp,

how will that resovle our deficit problem and the fact that our currency is backed by little productivity?????

Who will finance the ever exploding deficit???

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