View Full Version : A bad economy may just be headed for worse
Doc Safari
11-09-12, 14:43
DISCLAIMER: The link I'm posting is a religious Bible prophecy website, but if that bothers you they link to non-religious sources for their articles most of the time.
I like how they put the bullet points in concise form. Unfortunately, you'll have to visit the link to open each one of the articles.
http://beastwatchnews.com/
The economy is not looking good--not at all.
I'm still reading a lot of the material in the links. There's a lot to get through.
US & WORLD ECONOMY
Sign #1: Stock Market Collapsing
Hindenberg Omen Sighting; Market Downtrend Reconfirmed
All the major averages have taken out their recent lows and reconfirmed their intermediate term down trends. Both the NASDAQ Composite and Russell 2K are below their 200 day moving averages while the Spoo future remain tenuously above. The order from weakest to relatively "less weak" is: NASDAQ, Russell, and SP 500.
*Markets Still Look Rattled From Yesterday's [Wednesday's] Sinkhole
*Market Crashes Through 3 Support Lines, What Now?
*Stock market sinks as Dow Jones takes giant one-day drop
*Stock Market Gets More Manic as Fiscal Cliff Fears Escalate
*Warning: The Stock Market Panic Button Is About to Be Pushed
Sign #2: Derivatives Market Collapsing
*Divested business, derivatives losses weigh on Prudential's third-quarter
*JPMorgan Posts Trading Loss on 10 Days as Derivative Bet Unwinds
*Enbridge posts profit on lower derivatives losses
*Palm Oil Posts Biggest Weekly Drop in Six on Record Stockpiles
*Continental Resources 3rd-Quarter Profit Down on Year-Ago Derivative Gain
Sign #3: Mortgage Interest Rates Rising
*Current mortgage interest rates gained slightly on Friday as banks adjusted to the falling stock markets
*FHA 30 year mortgage interest rates are being quoted at 3.000% with a rather higher APR of 3.657%
*Mortgage report at LoanSafe: Rates today are a mixed bag with rates going both up and down
*Mortgage Rate Volatility Follows Election
*Obama's economic policies explained for Earthlings: Debt multiplication, the quantum multiverse and transdimensional accounting
Sign #4: Businesses Failing
Companies plan massive layoffs as Obamacare becomes reality
Freedom Works has put together a list of companies that will be laying of employees as a result of President Barack Obama's health care law:
*Utah company blames Pres. Obama for 102 workers laid off
*Record 70.4 Million Enrolled in Medicaid in 2011: 1 Out of Every 5 Americans
*Obama heads to Asia amid looming fear of 'Fiscal Cliff'
*Terence Corcoran: Obama’s recipe for U.S. decline
*US election results: Fiscal position will worsen, economy headed for slowdown, says Jim Rogers
*Jim Rogers: Money Printing Will Run Amok
*Greg Mannarino: Here Comes The Equities Crash As Obama Re-Elected- Dow 4,000 Possible
*Marc Faber Says Barack Obama Is A Disaster For Business; Expects A Massive Market Decline
You forgot one...Moody's had already told Obombo that he isn't getting a "fiscal honeymoon" and that if he dosen't have the fiscal cliff resolved by the end of the year, they will lower the U.S.'s credit rating..
Remember, we went from AAAA to AAA, within the last year or so, if Moody's lowers us to say, AA then we are just a couple of points above junk...A AA rating means that it will become much,much more expensive for the Gov't to borrow large amounts of money..Despite what the idiots at the Fed say, you can't print your way out of debt...It is possible, if something isn't done, and done soon, we'll end up just like Greece....
brickboy240
11-09-12, 16:01
This fate was pretty much sealed when they passed QE3...which was basically print and spend forever.
Hang on people...the recovery will not be pain free...or short.
Straight Shooter
11-09-12, 16:07
I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.
I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.
A very likely possibility, Bohner is already bending over, and he wants to go "hard" to the left and talk taxes with the mystery in the white house...
Belmont31R
11-09-12, 16:49
A very likely possibility, Bohner is already bending over, and he wants to go "hard" to the left and talk taxes with the mystery in the white house...
People want the programs...then we need to pay for them.
Plenty of people here want them. Time to pay for em.
I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.
EXACTLY! The only positive in this whole shit (You really have to want to see it) is that this bastard will take the country to rock bottom. Then all his disciples will realize what they've done & maybe we can hit the reset button & clean out the crooked ****s who ruined our once awesome country.
nineteenkilo
11-09-12, 23:24
The only handouts I get are from the chickens outside.
I fully agree. It is time for a hard, painful, and lengthy reset.
I'll still be here when it's over.
I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.
I got a kick out of Rush's suggestion that Republicans vote "present" on all of the Dem's bills. Just like Obama did for controversial legislation as a IL Senator. That way it would be clear whose policies put the country in the hole without the GOP being blamed for driving the ship or obstructing its captain.
EXACTLY! The only positive in this whole shit (You really have to want to see it) is that this bastard will take the country to rock bottom. Then all his disciples will realize what they've done & maybe we can hit the reset button & clean out the crooked ****s who ruined our once awesome country.
I'm not so sure. Greece is very close to rock bottom and its population shows no sign of seeing the light. Most countries seem to go the fascist dictator route or communism in response to rock bottom. In fact, I really can't think of a country that went bankrupt and emerged more democratic and with greater liberty. I'm not so sure that we will be different. Something tells me that any future amendment to the Constitution will be an en masse revocation, and will pass with thunders applause...
Maybe Sensei, but I believe we are a resilient people. Some of us still believe that hard work equals success. That's the way I was brought up & I only associate with like minded people. There's quite a few of us still out there. If the bottom did fall out, even if it's not a speedy recovery, I think we'll recover.
Greece may not be the best comparison. Hell they close up shop to take naps in the after noon on regular "Work" days! LMAO! What a beautiful country though. So sad.
Greece may not be the best comparison. Hell they close up shop to take naps in the after noon on regular "Work" days! LMAO! What a beautiful country though. So sad.
Yep, my wife is Greek. The bitch won't even make me dinner...
America, TWICE, run into the ground, by a Kenyon pres. I am more and more, believing in that the world really is run by a panel of "7".
Yep, my wife is Greek. The bitch won't even make me dinner...
HAHA! I'm telling her you called her a bitch!
Gotta put your foot down: "Greek style or dinner...Your choice woman!":D
Maybe Sensei, but I believe we are a resilient people. Some of us still believe that hard work equals success. That's the way I was brought up & I only associate with like minded people. There's quite a few of us still out there. If the bottom did fall out, even if it's not a speedy recovery, I think we'll recover.
Greece may not be the best comparison. Hell they close up shop to take naps in the after noon on regular "Work" days! LMAO! What a beautiful country though. So sad.
problem is some of us are not enough ? The majority does not and is willing to let the gov dictate what happens to them
If obama says its now so bad I need to stay here to fix it sorry no elections for a while folks will cheer msnbc will be singing the praise !
As soon as we are weak enough I see a UN contriolled US and obama will be proud to say as the worlds leader we need to be the first lead by example and have a new world gov
ForTehNguyen
11-10-12, 08:18
some companies announced a lot of layoffs. A couple oil gas projects got cancelled after the election at work
I can't help but notice the complete lack of "tin foil hatters" comments.
Everybody knows we're in deep deep shit now.
sinlessorrow
11-10-12, 11:38
I can't help but notice the complete lack of "tin foil hatters" comments.
Everybody knows we're in deep deep shit now.
No, I think we are all just tired of saying it. Does everyone here truly thing that America will crumble in 4 years.
GeorgiaBoy
11-10-12, 12:14
No, I think we are all just tired of saying it. Does everyone here truly thing that America will crumble in 4 years.
No.
Sent from my iPhone 4S using Tapatalk
Belmont31R
11-10-12, 12:53
No, I think we are all just tired of saying it. Does everyone here truly thing that America will crumble in 4 years.
Crumble? No...but we're going to be stagnant. A lost decade like Japan had with no real economic growth that isn't funding with trillion dollar deficits. The only reason we are in positive GDP numbers is because of gov spending and QE...but that won't last forever as we risk credit rating reductions and inflation.
A lot of other government's around the world have reduced spending or found other ways to shore up their budgets. We're going full steam ahead with borrowed and printed money.
No, I think we are all just tired of saying it. Does everyone here truly thing that America will crumble in 4 years.
Crumble? No. Just a slow painful death.
Doc Safari
11-10-12, 14:22
I do believe we are headed for a depression with 20% unemployment.
I also think at some point there will be a "currency reset."
sinlessorrow
11-10-12, 14:44
Crumble? No. Just a slow painful death.
I highly doubt this is the end of America.
Moose-Knuckle
11-10-12, 15:10
I do believe we are headed for a depression with 20% unemployment.
I also think at some point there will be a "currency reset."
The last depression there were 9,000,000, to 10,000,000 Americans that starved to death.
And yes, ever here of the test run known as the Amero?
The last depression there were 9,000,000, to 10,000,000 Americans that starved to death.
America was much more rural back then.
Today, 85% of our population lives in urban/suburban regions, and only 2% work in agricultural occupations.
Sent from my phone while I was on the toilet pooping
Moose-Knuckle
11-11-12, 01:24
America was much more rural back then.
Today, 85% of our population lives in urban/suburban regions, and only 2% work in agricultural occupations.
Sent from my phone while I was on the toilet pooping
Yeap, you can start adding zeros to those figures. Food riots anyone?
I highly doubt this is the end of America.
the America that most of us know I do think this might be the end !
America will keep going but not the way we know it
the America that most of us know I do think this might be the end !
America will keep going but not the way we know it
If one wants to get a look at the future America, then you need to look no farther than California..They elected a Democratic state legisature that now has a supermajority..They can literally pass any law they want..and the republicans can't even slow them down..Look for higher taxes, more hand outs, zero job creation..
Belmont31R
11-11-12, 13:24
If one wants to get a look at the future America, then you need to look no farther than California..They elected a Democratic state legisature that now has a supermajority..They can literally pass any law they want..and the republicans can't even slow them down..Look for higher taxes, more hand outs, zero job creation..
Hasn't california had negative population growth the last few years? Anyone with a clue jumped ship if they could. Problem is they move to conservative states where companies have more economic freedom, and lower taxes, only to keep voting democrat and ruining that state as well.
Hasn't california had negative population growth the last few years? Anyone with a clue jumped ship if they could. Problem is they move to conservative states where companies have more economic freedom, and lower taxes, only to keep voting democrat and ruining that state as well.
Actually you're quite right, the difference now is, that the trickle is now going to turn into a flood...This of course will hasten the ecomonic crash of California..Maybe we can sell the southern half back to Mexico..and throw in Jerry Brown to sweeten up the deal...
Belmont31R
11-11-12, 17:11
Actually you're quite right, the difference now is, that the trickle is now going to turn into a flood...This of course will hasten the ecomonic crash of California..Maybe we can sell the southern half back to Mexico..and throw in Jerry Brown to sweeten up the deal...
Sucks. Grew up here, and its a beautiful state with lots to do but I couldn't even afford to live in the town where I grew up. 300-500k "track" houses out the ass, a comparable apartment to what we have here would be 500+ more a month, income taxes, cost of living, ect.
Sucks. Grew up here, and its a beautiful state with lots to do but I couldn't even afford to live in the town where I grew up. 300-500k "track" houses out the ass, a comparable apartment to what we have here would be 500+ more a month, income taxes, cost of living, ect.
I've never been there, but I've always heard how beautiful it is..(especially in the north)It's sad, this is a state with a rich history. But those in charge of the state house now, seem determined to throw any chance of economic recovery away with both hands. Instead of trying to solve the problems, they take the easy way out, Tax,Tax,Tax, and more Tax, and now they can do it at will, unopposed.. It will take a little time, But only when they realize that the states economy is about to crash,(because citizens and business alike have left as fast as they could) will they figure out they went too far...
Belmont31R
11-11-12, 20:44
I've never been there, but I've always heard how beautiful it is..(especially in the north)It's sad, this is a state with a rich history. But those in charge of the state house now, seem determined to throw any chance of economic recovery away with both hands. Instead of trying to solve the problems, they take the easy way out, Tax,Tax,Tax, and more Tax, and now they can do it at will, unopposed.. It will take a little time, But only when they realize that the states economy is about to crash,(because citizens and business alike have left as fast as they could) will they figure out they went too far...
It's just a collection of all the worst liberal ideas out there being voted in by idiots.
It is a nice state otherwise. I grew up about an hour north of San Diego, and all within a couple hours or less you could go skiing, the desert or the beach. All 3 in one day if you wanted. San Diego, for being a large city, has a nice downtown area. Lots of military around there. Not a fan of the LA area. SF is nice to visit but ran by the ultra liberal anti-military types. NorCal is awesome. Tahoe area is very nice.
It's a shame those idiots keep voting that way. When I was there my county voted republican as did the SD area. Now its dark blue.
I just wish the people who skip town would stop voting for democrats wherever they move to only elect the same bastards that ruined Cali. Not all them do, like me, but plenty enough CO is now a blue state, and theres towns on the western side of the country infested with them like Missoula, Boise, lots of places in CO, ect. I think all the Mormons in UT keep them out there.
I've read the same thing has happened in the NE, and they leave NYC or MA and go to OH, PA, VA, NH, ect and turning them all blue.
Cagemonkey
11-11-12, 20:48
We're all live in Blue States now.
We're all live in Blue States now.
Embrace it.
Trade your 4x4 for a plug-in hybrid (a foreign-made one), sell all of your guns and buy pottery, buy some skinny jeans and wear a blazer with them, load your fridge with expensive gourmet cheeses, forget any knowledge of history you have, adopt your world-view from NPR, and most importantly, make sure you hold very strong opinions about things that you know nothing about.
http://media-cache-lt0.pinterest.com/upload/106679084892824507_hZJw1Nz0_b.jpg
Sent from my phone while I was on the toilet pooping
Consider the following:
1) When the US federal government spends money, expenses are officially categorized in three different ways.
Discretionary spending includes nearly everything we think of related to government– the US military, Air Force One, the Department of Homeland Security, TSA agents who sexually assault passengers, etc.
Mandatory spending includes entitlements like Medicare, Social Security, VA benefits, etc. which are REQUIRED by law to be paid.
The final category is interest on the debt. It is non-negotiable.
Mandatory spending and debt interest go out the door automatically. It’s like having your mortgage payment autodrafted from your bank account– Congress doesn’t even see the money, it’s automatically deducted.
2) With the rise of baby boomer entitlements and steady increase in overall debt levels, mandatory spending and interest payments have exploded in recent years. In fact, the Congressional Budget Office predicted in 2010 that the US government’s TOTAL revenue would be exceeded by mandatory spending and interest expense within 15-years.
That’s a scary thought. Except it happened the very next year.
3) In Fiscal Year 2011, the federal government collected $2.303 trillion in tax revenue. Interest on the debt that year totaled $454.4 billion, and mandatory spending totaled $2,025 billion. In sum, mandatory spending plus debt interest totaled $2.479 trillion… exceeding total revenue by $176.4 billion.
For Fiscal Year 2012 which just ended 37 days ago, that shortfall increased 43% to $251.8 billion.
In other words, they could cut the entirety of the Federal Government’s discretionary budget– no more military, SEC, FBI, EPA, TSA, DHS, IRS, etc.– and they would still be in the hole by a quarter of a trillion dollars.
4) Raising taxes won’t help. Since the end of World War II, tax receipts in the US have averaged 17.7% of GDP in a very tight range. The low has been 14.4% of GDP, and the high has been 20.6% of GDP.
During that period, however, tax rates have been all over the board. Individual rates have ranged from 10% to 91%. Corporate rates from 15% to 53%. Gift taxes, estate taxes, etc. have all varied. And yet, total tax revenue has stayed nearly constant at 17.7% of GDP.
It doesn’t matter how much they increase tax rates– they won’t collect any more money. See the Laffer Curve for further evidence of this: http://en.wikipedia.org/wiki/Laffer_curve
5) Our Debt/GDP ratio currently sits at 106%, while GDP growth prospects are tepid at best. Facing so many headwinds like quickening inflation, an enormous debt load, and debilitating regulatory burdens, the US economy is barely keeping pace with population growth.
6) The only thing registering any meaningful growth in the US is the national debt. It took over 200 years for the US government to accumulate its first trillion dollars in debt. It took just 286 days to accumulate the most recent trillion (from $15 trillion to $16 trillion).
Last month alone, the first full month of Fiscal Year 2013, the US government accumulated nearly $200 billion in new debt– 20% of the way to a fresh trillion in just 31 days.
7) Not to mention, the numbers will only continue to get worse. 10,000 people each day begin receiving mandatory entitlements. Fewer people remain behind to pay into the system. The debt keeps rising, and interest payments will continue rising.
8) Curiously, a series of polls taken by ABC News/Washington Post and NBC News/Wall Street Journal show that while 80% of Americans are concerned about the debt, roughly the same amount (78%) oppose cutbacks to mandatory entitlements like Medicare.
9) Bottom line, the US government is legally bound to spend more money on mandatory entitlements and interest than it can raise in tax revenue. It won’t make a difference how high they raise taxes, or even if they cut everything else that remains in government as we know it.
This is not a political problem, it’s a mathematical one. Facts are facts, no matter how uncomfortable they may be.
Sent from my phone while I was on the toilet pooping
Belmont31R
11-12-12, 02:17
They say its mandatory because they passed a law saying so. They can just as easily repeal the law that says, 'we have to', and thus it's no longer mandatory.
It's funny, and sad that welfare spending is 'OMG mandatory!', and there isn't a lick of wording in the Constitution that mentions Social Security or Medicare....yet the military is mentioned in the Constitution, and its 'discretionary'.
Screw that noise.
The last depression there were 9,000,000, to 10,000,000 Americans that starved to death.
Source?
Moose-Knuckle
11-12-12, 03:37
Source?
I stand corrected . . .
“The researcher, Boris Borisov, in his article titled “The American Famine” estimated the victims of the financial crisis in the US at over seven million people. The researcher also directly compared the US events of 1932-1933 with Holodomor, or Famine, in the USSR during 1932-1933.
In the article, Borisov used the official data of the US Census Bureau. Having revised the number of the US population, birth and date rates, immigration and emigration, the researcher came to conclusion that the United States lost over seven million people during the famine of 1932-1933.
“According to the US statistics, the US lost not less than 8 million 553 thousand people from 1931 to 1940. Afterwards, population growth indices change twice instantly exactly between 1930-1931: the indices drop and stay on the same level for ten years. There can no explanation to this phenomenon found in the extensive text of the report by the US Department of Commerce “Statistical Abstract of the United States,” the author wrote. “
They say its mandatory because they passed a law saying so. They can just as easily repeal the law that says, 'we have to', and thus it's no longer mandatory.
It's funny, and sad that welfare spending is 'OMG mandatory!', and there isn't a lick of wording in the Constitution that mentions Social Security or Medicare....yet the military is mentioned in the Constitution, and its 'discretionary'.
Screw that noise.
I agree 100%, but as the law currently stands, entitlement payments can't be skipped. And for the foreseeable future, it'll stay this way. Democrats would cut the DoD vs. Medicare in a heartbeat. Constitutional or not.
P.S. The 2A is the only place in the Constitution where "Security" is mentioned. The original DHS was guys like all of us.
The_War_Wagon
11-12-12, 06:21
Crumble? No. Just a slow painful death.
The Visigoths didn't come storming over the walls in A.D. 476. Plenty of them had already come into the city - taking, raping, & pillaging as they pleased...
When finally, the decadent Romans were thoroughly oblivious, and enough Visigoths were ON the inside, they simply went up - opened the city gates themselves - and let the rest of the barbarian horde just AMBLE in, and seal Rome's fate.
Sound like any OTHER decadent, overspent, country, with 30,000,000+ ILLEGAL FOREIGN INVADERS inside their borders, that you've ever heard of? :fie:
I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.
That is exactly what I've been saying. I'd only add the GOP in the house should add a disclaimer 'this is against our judgement but what the POTUS, Reid & the American people want'........
Hasn't california had negative population growth the last few years? Anyone with a clue jumped ship if they could. Problem is they move to conservative states where companies have more economic freedom, and lower taxes, only to keep voting democrat and ruining that state as well.
Maybe that's their plan to turn the rest of the country into a socialist utopia.
Consider the following:
1) When the US federal government spends money, expenses are officially categorized in three different ways.
Discretionary spending includes nearly everything we think of related to government– the US military, Air Force One, the Department of Homeland Security, TSA agents who sexually assault passengers, etc.
Mandatory spending includes entitlements like Medicare, Social Security, VA benefits, etc. which are REQUIRED by law to be paid.
The final category is interest on the debt. It is non-negotiable.
Mandatory spending and debt interest go out the door automatically. It’s like having your mortgage payment autodrafted from your bank account– Congress doesn’t even see the money, it’s automatically deducted.
2) With the rise of baby boomer entitlements and steady increase in overall debt levels, mandatory spending and interest payments have exploded in recent years. In fact, the Congressional Budget Office predicted in 2010 that the US government’s TOTAL revenue would be exceeded by mandatory spending and interest expense within 15-years.
That’s a scary thought. Except it happened the very next year.
3) In Fiscal Year 2011, the federal government collected $2.303 trillion in tax revenue. Interest on the debt that year totaled $454.4 billion, and mandatory spending totaled $2,025 billion. In sum, mandatory spending plus debt interest totaled $2.479 trillion… exceeding total revenue by $176.4 billion.
For Fiscal Year 2012 which just ended 37 days ago, that shortfall increased 43% to $251.8 billion.
In other words, they could cut the entirety of the Federal Government’s discretionary budget– no more military, SEC, FBI, EPA, TSA, DHS, IRS, etc.– and they would still be in the hole by a quarter of a trillion dollars.
4) Raising taxes won’t help. Since the end of World War II, tax receipts in the US have averaged 17.7% of GDP in a very tight range. The low has been 14.4% of GDP, and the high has been 20.6% of GDP.
During that period, however, tax rates have been all over the board. Individual rates have ranged from 10% to 91%. Corporate rates from 15% to 53%. Gift taxes, estate taxes, etc. have all varied. And yet, total tax revenue has stayed nearly constant at 17.7% of GDP.
It doesn’t matter how much they increase tax rates– they won’t collect any more money. See the Laffer Curve for further evidence of this: http://en.wikipedia.org/wiki/Laffer_curve
5) Our Debt/GDP ratio currently sits at 106%, while GDP growth prospects are tepid at best. Facing so many headwinds like quickening inflation, an enormous debt load, and debilitating regulatory burdens, the US economy is barely keeping pace with population growth.
6) The only thing registering any meaningful growth in the US is the national debt. It took over 200 years for the US government to accumulate its first trillion dollars in debt. It took just 286 days to accumulate the most recent trillion (from $15 trillion to $16 trillion).
Last month alone, the first full month of Fiscal Year 2013, the US government accumulated nearly $200 billion in new debt– 20% of the way to a fresh trillion in just 31 days.
7) Not to mention, the numbers will only continue to get worse. 10,000 people each day begin receiving mandatory entitlements. Fewer people remain behind to pay into the system. The debt keeps rising, and interest payments will continue rising.
8) Curiously, a series of polls taken by ABC News/Washington Post and NBC News/Wall Street Journal show that while 80% of Americans are concerned about the debt, roughly the same amount (78%) oppose cutbacks to mandatory entitlements like Medicare.
9) Bottom line, the US government is legally bound to spend more money on mandatory entitlements and interest than it can raise in tax revenue. It won’t make a difference how high they raise taxes, or even if they cut everything else that remains in government as we know it.
This is not a political problem, it’s a mathematical one. Facts are facts, no matter how uncomfortable they may be.
Sent from my phone while I was on the toilet pooping
You are quite right.... The numbers don't lie...Taking all the above into consideration, I figure in 4 yrs, the fiscal cliff will look like a ditch in comparsion to this..I figure we're headed for a big crash...1929 or worse, all over. Those who voted for Obombo will finally get the gov't they deserve..
Doc Safari
11-12-12, 09:09
The Visigoths didn't come storming over the walls in A.D. 476. Plenty of them had already come into the city - taking, raping, & pillaging as they pleased...
When finally, the decadent Romans were thoroughly oblivious, and enough Visigoths were ON the inside, they simply went up - opened the city gates themselves - and let the rest of the barbarian horde just AMBLE in, and seal Rome's fate.
Sound like any OTHER decadent, overspent, country, with 30,000,000+ ILLEGAL FOREIGN INVADERS inside their borders, that you've ever heard of? :fie:
Probably the one upside to the coming meltdown is that the illegals will self-deport as there are fewer and fewer jobs for them. Add to that the inevitable resentment of legitimate citizens to illegals taking their jobs in an environment of high unemployment and you may get to see the liberals' coddling of the illegal alien population finally backfire on them.
I'm not going to bore you with individual stories, but every single day since the election I have turned on some radio program, some TV show, or looked at some website where a business that had planned to expand is now planning to lay people off or cut back on hours instead.
Crumble? No...but we're going to be stagnant. A lost decade like Japan had with no real economic growth that isn't funding with trillion dollar deficits. The only reason we are in positive GDP numbers is because of gov spending and QE...but that won't last forever as we risk credit rating reductions and inflation.
GDP is the biggest scam there is. GDP was defined to include government spending, even though that spending is not real economic growth. Or production of ANYTHING of value.
You can get your GDP numbers sky high by increasing spending. Doesn't mean a damn.
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arizonaranchman
11-12-12, 13:31
I can see us headed for a depression. The US and world economy are already floundering. The insanity of what the Regime has in mind will bring us over the tipping point.
Extremely difficult times ahead.
I can see us headed for a depression. The US and world economy are already floundering. The insanity of what the Regime has in mind will bring us over the tipping point.
Extremely difficult times ahead.
Exactly right, As Obamacare is further implemented,I'm sure employers all over the country are studying Obamacare, and figuring out how much this is going to cost them..I figure they'll do one of three things
1. Close down..although I think this is least likely, some business's may end up doing just this.
2.Layoff's...Layoff enough people to get under the requirement to provide healthcare(50 employees) and keep it there.
3. Hours. If #2 above is'nt really viable, then the next option would be to cut hours back, remembering that under Obamacare 30hrs a week is considered "full time employment". So, if you have a business, and have say, 200 employees working 40hrs a week, you reduce them to say 24hrs a week (3days) you could split the work week up between them. Shift "A" will work Mon- Wed..Shift "B" will work Wed- Sat, Saturday will become a straight time day as the 40hr threshold hasn't been crossed.
This just may be the new normal..Alot of people's career's will be nothing but a endless string of part-time jobs, with no future of advancement, or any hope of getting ahead, you'll get just enough to get by...
Doc Safari
11-12-12, 16:38
This just may be the new normal..Alot of people's career's will be nothing but a endless string of part-time jobs, with no future of advancement, or any hope of getting ahead, you'll get just enough to get by...
I think you nailed it. We become a nation of part-time employees.
We were already headed toward becoming a country of low-paying "service industry" jobs.
Now we will all be part-time service industry types.
No one will have the money to eat out anymore, so even those restaurants that try to survive by cutting hours or employees are in trouble.
Part time employment doesn't generally allow you to have a retirement income.
You are quite right.... The numbers don't lie...Taking all the above into consideration, I figure in 4 yrs, the fiscal cliff will look like a ditch in comparsion to this..I figure we're headed for a big crash...1929 or worse, all over. Those who voted for Obombo will finally get the gov't they deserve..
The crash will exceed 1929 by an order of magnatude! With but few exceptions, the entire manufactiring base has left the building for asia, this is so catastrophic, that I have little difficulty envisioning what Obama and his co-horts will resort too. The up-coming crash, will not end the USA, it will end western civilization.
When Rome collpased, it dragged all of the west, and middle east with it, into oblivion. This period lasted for hundreds of years, we have popularized a name for this episode of history, we refer to them as the dark ages!
When the USA collapses, and its going too, it will drag all of western civilization down with it. I wear no tinfoil cap, where I've arrived at in just the last six years time, is an amazement to me, nonetheless, I suffer from no illusions as to how this boat ride comes to an end...
the great depression while some bad stuff happened there was also a lot of folks that could feed themselves with farms and for the most part I think people were more willing to help their neighbors since they knew them and were most likely friends with many
while yes their were riots they were not daily and the mess we would have today the lines of the soup kitchens would not happen today it would be riots to steal all the food etc.
sadly many of the people are not the same as they were 80 years ago the gangs were not like they are today etc.
when it happens it is not going to be pretty
ForTehNguyen
11-12-12, 18:00
Lot of tax increases coming next year if nothing is done, guess what happens:
Wealthy Dump Assets Amid Worries About Going Over 'Cliff' (http://www.cnbc.com/id/49792979)
the great depression while some bad stuff happened there was also a lot of folks that could feed themselves with farms and for the most part I think people were more willing to help their neighbors since they knew them and were most likely friends with many
while yes their were riots they were not daily and the mess we would have today the lines of the soup kitchens would not happen today it would be riots to steal all the food etc.
sadly many of the people are not the same as they were 80 years ago the gangs were not like they are today etc.
when it happens it is not going to be pretty
Well, provided you have some ground, and some garden tools, you could put in a garden, and learn how to can, The way things are shaping up I'm sure alot of us on this board will have time, because we probably won't have a job...
Well, provided you have some ground, and some garden tools, you could put in a garden, and learn how to can, The way things are shaping up I'm sure alot of us on this board will have time, because we probably won't have a job...
yeah I think so many these days dont have home lots like my parents had where you had a chunk of land my parents house has a small orchard and they live on the water so also have that to get food from and their own well etc..
seems now so many even where I am now we have such a small yard ? some sqft gardening is all we can do and if the water gets cut besides the pool we would be hosed !
also I think so many do not know how to garden or get their own food etc..
sadly so many radical genetic modfied foods and seeds are going to be a issue unless you have those ?
sadly I dont think it will be like it is in the past
my wifes parents are in Canada they came from England and were WWII farm kids that left the city
they still grow a lot of their own food and can and have a large pantry rely on wood heat and really are frugal and could sustain themselves
we pretty much lived off the land in the islands when we wanted to fish and pick food trade with others etc.. often never had to go to the stores unless you wanted certain fun things and once a month or so go for some things like rice and a few main stays but everything else was hunted or gathered
just seems so many these days I think would not be able to have the land or the water or the means to have a garden and live ?
GDP is the biggest scam there is. GDP was defined to include government spending, even though that spending is not real economic growth. Or production of ANYTHING of value.
You can get your GDP numbers sky high by increasing spending. Doesn't mean a damn.
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Yep. Even debt counts toward GDP.
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