Here are 21 reasons – a blackjack winning hand – evidencing why we are not in an economic depression nor a recession any longer.
We have now entered a financial collapse brought about by derivative gambling debt… and it’s sitting right in plain sight on our doorstep.
Federal Budget Deficit. The Federal debt limit was just raised almost 100% to $14.3 trillion. It was nearly half that amount ($7.8 trillion) in 2005. The U.S. debt at 84% of the Gross Domestic Product is about to pass the 90% trigger point.
U.S. Foreign Trade Deficit. The total continues climbing as $400 billion is added each year. Foreigners now own $2.5 trillion of the U.S.
Plummeting U.S. World Trade Dollar. The dollar has already fallen and is continuing on a steady downhill slide. The main index measuring dollar strength as a foreign reserve and trade currency has gone from 120 at the Clinton-to-Bush handoff to below 80 today.
Credit Ratings Down, Rates Up. Economists at S&P, Fitch and Moody’s were (and still are) guilty co-conspirators with the Banksters by misleading – and flat-out lying – to investors before the onset of the meltdown that still conti9nues. What’s coming next? Rising debt, lowered credit ratings, and soaring interest rates… not to mention hyper-inflation a la Argentinian style.
Global Real Estate Disaster. The new Dubai Tower, the world’s tallest building, is empty. The U.S. commercial real estate bubble is now $1.7 trillion, a “ticking time bomb” that already accounts for 25% of bank balance sheets.
Oil and the Population Explosion. The United Nations estimates the world population exploding 50% – from 6 billion to 9 billion – by 2050. That’s three billion more humans not just demanding more automobiles, but exhausting more resources to feed their version of the Detroit gas-guzzler… not to mention food needed to feed their own hungry mouths.
Social Security Collapse. There are only two choices: Cut benefits or raise taxes. Politicians hate both, so they’ll do nothing. Delays worsen solutions. Without action, by 2035 Social Security and Medicare benefits will eat up the entire federal budget other than defense.
Medicare Collapse. This failing social welfare program is going broke faster than Social Security. In five years, cost estimates are expected to be over $60 trillion (more than double the 2009 expenditures).
Health-care Insurance Scam. The payment burden is shifting to employee paycheck deductions faster than a speeding bullet. The realistic costs of health care are rising much faster than inflation.
State and Local Government Deficits. With estimated deficits of $110 billion in 2010 (in reality, double this figure due to “creative accounting” techniques used by most government corporations), $178 billion in 2011 (again, a realistic and practical amount is double the “official” estimate), plus more than $450 billion of currently under-funded / un-funded state and municipal employee pension funds. Just wait until April when we get a more accurate peak at the pension fund collapses.
Under-funded Corporate Pensions. Corporate pension funds have quickly become technically bankrupt. They had a $60 billion surplus in 2007. In just two short years, that surplus became a $409 billion deficit in 2009. 92% of corporate pension plans are now underfunded.
Consumer Debt. U.S. Citizens are still living beyond their means. Even with a downturn, consumer debt rose from about $2.3 to $2.5 trillion. Fat Cat Bankers love it — yes love making matters worse by gouging cardholders and mortgagees, blocking help in foreclosures and bankruptcies.
Personal Savings. Before the 2008 meltdown, the savings rate dropped from about 10% (in the early 1980’s) to below zero. Now, the personal savings rate is steadily increasing. This is slowing any hopes of a retail sales recovery. In contrast, Federal and State governments have become non-savers and are spending what they don’t have.
Military Defense Deficits. The “official” costs of the Iraq and Afghanistan wars are $200+ billion annually. In all reality, the figure is closer to $3 trillion when taking into consideration the massive long-term costs for veteran medical care, equipment renewal, and recruitment.
Homeland Insecurity Fiasco. An outrageous cost for alleged “security programs” against purported “terrorists” at airports, seaports, borders, chemical plants, refineries, etc.
Fed/Treasury Bailout Lies. Tax credits, loans, cash and the purchase of toxic assets (OTC derivatives) from Wall Street banksters and their corrupt banks. The cost (so far) to the U.S. Taxpayer is estimated at $23.7 trillion.
Washington Bankster Power. Through lobbyists and former employees working inside the DC corporation, Paulson, Goldman, Geithner, JP Morgan, Bank of America, Citibank, ad nauseaum, now have absolute power over DC corporate-government spending. This is called corporate-socialism. Let’s not forget the U.S. Supreme Court giving them the OK to fund their political puppets without monetary restriction.
The Derivatives A-bomb. Wall Street wants no regulation of this $670 trillion, high-risk, Over-the-counter (unregulated), out-of-control gambling casino operation. Unregulated OTC derivatives destroyed global economies in 2008-09 and will collapse them by 2012.
Dysfunctional Two-Party Politics. This is the greatest confidence game ever created. Daily, both Republicans and Democrats outwardly demonstrate absolutely no desire to cooperate with each other for the benefit of those who voted them into office. Their only goal is to keep making Americans believe that they’re really not sleeping with each other.
WTSHTF “Tea Party” Escalations. These days, nobody trusts anyone who has any authority… and for good reason. For Wall Street and DC (two birds from the same nest), doing what’s right and moral for the American people is just empty political rhetoric. The sleeping sheeple have noticed are are beginning to wipe their eyes, which is why the peaceful tea parties may end up yielding to angry crowds who have no more patience.
Food Shortage Reality. Has anyone bothered to look at the actual food production figures? Are the silos full, half full, or nearly empty? Extreme weather has wiped out crops in all 50 States to the point that silos are half full for winter and spring food needs. There will be more demand than supply simply because crop production was less than what’s needed to break even.
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