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alstry (36.49)

WW3 or Massive Economic Collapse

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September 11, 2009 – Comments (8)

Federal deficit hits $1.38 trillion through August......we are on track for a $2 trillion dollar deficit for calendar year 2009.  $2 TRILLION DOLLARS!!!!!   Benny Bin Laden is doing everything he can to bail out his buddies, cut off credit to the citizens, and destroy the value of our dollar.

You think Goldman bankers are holding dollars right now?????  You may want to check out who is the largest foreign investor in Chinese banks.

By destroying the dollar we are destroying the savings of Americans and nations around the world holding trillions of dollars.  Benny B's behavior is no different than if someone walked into your home and stole items right in front of your face.  Benny through his Zombulation policies is essentially terrorizing the savers and holders of dollars around the world.

Retaliation will not be difficult for many.....simply refuse to accept dollars anymore in world trade. Dump dolllars in the open market and create a new reserve currency.  Since we don't export very much, it will be practically impossible for America to generate foreign currency in any meaningful quantities....especially in light of our dependency on foreign products...of note oil.

Such a move would make imported products prohibitively expensive for Americans.

Probably behind the scenes, such threats are already being made outside the delivery of the mainstream media....our only retaliation short of physically assaulting another nation will be implementing protectionist policies.

Obama to impose tariffs on Chinese tires

Inevitably, our foreign trading partners will impose their own protectionist policies

Sarkozy calls for carbon tax on imports; Economists warn on consequences...

Canadians fired back. A number of Ontario towns, with a collective population of nearly 500,000, retaliated with measures effectively barring U.S. companies from their municipal contracts -- the first shot in a larger campaign that could shut U.S. companies out of billions of dollars worth of Canadian projects.

As foreigners dump dollars, shun trading with America, and find alternative trading partners.....Benny B's screw the dollar policy will impoverish our citizens and isolate America from the rest of the world.  At that point, Obama will be left with few buttons to push to defend his citizens from world's retaliaton to Benny B's behavior.

If he pushes the wrong button....there will be no turning back.....for any of us.

9.09 will be unlike anything you have ever seen before........

8 Comments – Post Your Own

#1) On September 11, 2009 at 11:21 PM, alstry (36.49) wrote:

Defense Secretary Robert Gates is expected to approve sending thousands of additional forces to Afghanistan to deal with the growing threat from roadside bombs, Pentagon spokesman Geoff Morrell said Friday. Gates has concluded that there are not enough forces or equipment in Afghanistan to protect U.S. troops from the threat, he said...

It appears that all options are being put on the table during negotiations.  Do any of you Fools really believe that our troop build up is to chase a tall white robed man among fields of poppy seeds?

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#2) On September 12, 2009 at 3:04 AM, oshiri (< 20) wrote:

Sempai Alstry --

      I unloaded everything today -- no more ties to U.S. equities.

     I've a riddle for the non-believers, "How can Chinese GDP be growing when their import/exports are down over 20%?"

     Answer, they really don't have to rely on the U.S. (non)consumer. When your domestic market is four times that of the zombulated American consumption class, why do you even care about imports/exports anymore.

China's imports, exports drop 20.6% in August

http://news.xinhuanet.com/english/2009-09/11/content_12034469.htm

China's August fiscal revenue rises 36.1%

http://news.xinhuanet.com/english/2009-09/11/content_12034854.htm

China's GDP growth is 7.9%, U.S. GDP down -3.9%

http://www.economist.com/markets/indicators/displaystory.cfm?story_id=14416756

     China selling RMB (yuan) bonds to the world, agitation for an alternative settlement currency, record unemployment in the U.S., $2,000,000,000,000 USD (and counting) of fiat paper pumped into the world financial system. Hmm . . . are we seeing not only a trend, but perhaps a problem? (and I haven't even mentioned tax revenue, foreclosures, healthcare reform, H1N1, or rumors of additional wars).

     Get out now . . . and y'all better thank Al . . . 

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#3) On September 12, 2009 at 7:14 AM, alstry (36.49) wrote:

"China strongly opposes this serious act of trade protectionism by the U.S.," a statement posted on China's Ministry of Commerce Web site said. "This act not only violates the rules of the World Trade Organization but also violates the relevant commitments made by the U.S. government at the G-20 financial summit."

Obama's move will harm U.S.-China economic and trade relations, the statement said.

Governments around the world have suggested the United States talks tough against protectionism only when its own industries are not threatened. U.S. rhetoric on free trade also has been questioned because of a "Buy American" provision in the U.S. stimulus package.

The decision could have ramifications in other high-priority areas, too.

The White House badly needs Chinese help to confront climate change, nuclear standoffs with Iran and North Korea and global economic turmoil. China is the world's third-largest economy and a veto-holding member of the United Nations Security Council.

http://news.yahoo.com/s/ap/20090912/ap_on_go_pr_wh/us_us_china_trade

How long do you think governments around the world are going to let us run a $2 trillion and growing deficit.....against evaporating income......simply so we can consume?

It is one thing to shove paper dollars down the throats of banana republics....very different to shove it down the G20...at some point, they will now swallow.

At this point, it appears the Fed and our politicians are taking us down a road we may all regret.

Fed Failed to Curb Lending Flaws at Two Banks That Later Shut, Report Says

Dollar Declines the Most Since May as Its Borrowing Costs Become Cheapest

Senator Reed Backs More Afghan Trainers, Opposes Troop Withdrawal Deadline

Never has a nation been permitted to simply print its way to prosperity without producing much, there was always been a HUGE cost to that nation and population....and recently, it appears from the facts, the world is now beginning to push back.

It is a big world out there..................and you push it around long enough, it will push back.

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#4) On September 12, 2009 at 7:47 AM, alstry (36.49) wrote:

As money runs out....you can only fake it for so long....

Baltimore City has no money set aside for future payments to members of its oldest fire and police pension system, according to a just-released state audit of Maryland's local governments, but city officials said no one will miss a payment.

The state report also showed six municipalities, including Cumberland and Cambridge, closed the fiscal year that ended June 30, 2008, with a deficit. Meanwhile, results were uncertain for tiny Forest Heights in
Prince George's County: The town of 1,000 hasn't filed the required audit for the past two fiscal years.

"That's rare," said Bruce A. Myers, the state's legislative auditor. If town officials don't remedy that quickly, they could lose any state aid they receive, he said. Mayor Andrea McCutcheon and other town officials did not respond to messages seeking comment Friday.

http://www.baltimoresun.com/news/maryland/bal-md.audit12sep12,0,6330659.story

It is interesting that we are focusing on health care reform when money is running out.  Before discussing health care, shouldn't we check if we have any money?

The city included $1.9 million for the payments in the fiscal 2008 budget covered by the audit, but the city must pay an estimated $7.9 million in future benefits.

"It should have been pre-funded," Myers said. "Most systems do it that way."

Edward J. Gallagher, Baltimore's finance director, noted the problem is very small compared to those the city faces with more current pension funds and retirees.

Very small?????????  How big is the more current problem???????????????

We can only spend more than we make for so long.....if this continues....none of us will be making much unless we restructure.

In an attempt to bridge a $1.5 million budget gap, the Arizona State Parks Board made "sobering and substantial" reductions on Friday that include layoffs, limits on park operations and moving forward with an entrance-fee proposal next spring.

"This is not a fun day for anybody on this board or anybody in this room," board Chairman Reese Woodling said.

The board voted to eliminate about 25 to 30 full-time positions - about 10 percent of the park system's staff

http://www.azcentral.com/news/articles/2009/09/11/20090911stateparks0912.html

Banks shutting down, millions getting fired, pensions unfunded.... maybe we are heading down a path where it all won't matter anyway?

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#5) On September 12, 2009 at 8:19 AM, alstry (36.49) wrote:

ARE YOU READY FOR 9.09????

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#6) On September 12, 2009 at 8:45 AM, dickseacup (66.92) wrote:

It is interesting that we are focusing on health care reform when money is running out.  Before discussing health care, shouldn't we check if we have any money?

I have been saying this for a very long time. Nobody seems willing to consider it. Especially not any politicians. The bleeding hearts don't care if we reduce every man, woman and child to less than third-world living conditions in the process of providing 'universal' coverage that we cannot afford (on top of Medicare, which is our largest unfunded liability and has already bankrupted the government, even if it doesn't want to admit it).

The means justify the ends, man!

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#7) On September 12, 2009 at 8:53 AM, alstry (36.49) wrote:

dick,

I have spoken to some politicians...they simply don't get it or have been conditioned to be reactive, not proactive.

The Ron Paul video above is pretty insightful....clearly the path we are heading down is one few are prepared for...it was a path I was hoping we wouldn't choose......but soon we will all feel.

The time should not be too far off now.

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#8) On September 12, 2009 at 11:48 AM, jason2713 (< 20) wrote:

Wow, that's nuts man, I hope for everyone that isn't true.  I hope and pray because that isn't good.

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