There was a time when we might have done something about the horrible economic mess we find ourselves in today. There was a time when we might have been able to handle these problems one at a time as they arose, but not today. And we have no one to blame but our own government and, of course, ourselves for electing and re-electing these incompetents plus spending beyond our means.
Any one of the many things closing in on us could, by themselves, ruin our economic system, but all the major elements going down at the same time makes it impossible to survive. It is not simply the devaluing credit home mortgage market that’s collapsing, but several other core components as well.
The worldwide fall of the American dollar has already crippled us. We carry more than a $700 billion ($700,000,000,000) negative annual balance of trade. We’ve lost our industrial base so that even if we received yearly orders far beyond this amount we couldn’t produce the products ordered.
The nation’s debt stands at $9 trillion ($9,007,172,659,218.62) as of January 31, 2008. This is the direct result of borrowing from other nations and stealing entitlement overcharges, mostly from the supplemental retirement plan of American workers, Social Security. Lenders are beginning to abandon the legitimate loans and/or what was once known as the “greatest investment in the world.” If countries like
On top of all this, American families carry so much credit card debt they couldn’t begin to pay off this enormous $9 trillion national debt – and that responsibility is entirely on their shoulders. The government has no money except what it gets from taxpayers. It’s a not-for-profit organization with average citizens in a losing – losing situation no matter how you look at it.
The current housing bubble that many blame for today’s economic troubles is much the same as we encountered, and paid for, in the “Savings and Loan” fiasco of the Eighties. The federal government abandoned its role as regulator of the banking system and allowed under funded banks to award loans to every Tom, Dick, and Harry that wanted to build a house, mall or whatever.
The American people are going to suffer for what is already a recession and will become a full fledged depression. There’s nothing to stop it now.
Instead of throwing every one of the members of the House, Senate, and the Administration out of office and/or sending them to
Even if no one votes this November, the sheer number of illegal aliens will be enough for these candidates to take office. But this isn't all we have to contend with.
Let me give you an obvious example of our government's criminality:
Since its very inception, and especially since 1983, the government has been stealing billions from Social Security. Almost every member of the federal government admits this when they say things like “we’ve got to stop spending Social Security’s money.” And that’s all it would really take. Simply stop stealing the surplus generated by payroll tax overcharges and let the Social Security Administration decide what to do with this extra money. That’s not too difficult is it?
Just last month, December of 2008, The Beltway Bandits stole $19.5 billion from our supplemental retirement fund. In fiscal 2007 they stole $84.3 billion. The Social Security trust funds, Federal Old Age & Survivors Insurance and the Federal Disability Insurance trusts hold a combined total of $2.2 trillion in Treasury securities that are absolutely worthless to anyone but the government.