A Horrific Economic Collapse Is On The Way: Bond Market Is Imploding, Debt Ceiling Will Be Breached On Next Monday, Dec. 31st, Homeowners Now Foreclosing on Banks, And America Is rapidly Becoming A Nation Of Taker, Everyone Takes, Nobody Makes, Money Is Free And Worthless!!
Bond Ratings Cuts Advance to Fastest Since ’09: Credit Markets
Standard & Poor’s and Moody’s Investors Service are cutting corporate debt ratings at the fastest pace since 2009 as a global economic slowdown and record borrowing erode credit quality.
The ratio of ratings downgrades to upgrades worldwide climbed to 1.85 this year from 1.23 in 2011, according to S&P data
. PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, was cut three times by Moody’s since March to speculative grade. Fort Worth, Texas-basedRadioShack Corp. (RSH) was lowered four steps this year by S&P to seven levels below investment grade. Defaults rose to 80 issuers from 52 in 2011, according to S&P.
Europe’s second recession in four years and slowing global economic growth are helping to push a measure of corporate debt to earnings to a three-year high, Barclays Plc data show. Companies from the neediest to the most creditworthy sold unprecedented amounts of debt at record-low yields in 2012 as the Federal Reserve held interest rates at almost zero for a fourth year in an effort to boost the U.S. economy.
“We’re going to have an elevated level of negative outlooks,” Diane Vazza, head of S&P’s global fixed-income research, said in a telephone interview. “The companies that we’re seeing with downgrade pressure are speculative-grade companies.”
Dec. 31st: Debt Ceiling Will Be Breached On Next Monday
…The Treasury said on Dec. 28 it would suspend issuance of State and Local Government Series securities, known as “slugs”, which are special low-interest Treasury securities offered to state and local governments to temporarily invest proceeds from municipal bond sales.…
The Treasury said the debt ceiling is set to be reached on Dec. 31, but analysts believe extraordinary measures can stave that date off into February.
America Is Rapidly Becoming A Nation Of Takers, The Number Of People On Welfare Exceeds The Number Of People With Jobs In 11 States: : California, New York, Illinois, Ohio, Maine, Kentucky, South Carolina, Mississippi, Alabama, New Mexico and Hawaii.
America is rapidly becoming a nation of takers. An increasing number of Americans expect the government to take care of them from the cradle to the grave, and they expect the government to dig into the pockets of others in order to pay for it all. This philosophy can be very seductive, but what happens when the number of takers eventually outnumbers the number of producers? In 11 different U.S. states, the number of government dependents exceeds the number of private sector workers. This list of states includes some of the biggest states in the country: California, New York, Illinois, Ohio, Maine, Kentucky, South Carolina, Mississippi, Alabama, New Mexico and Hawaii. It is interesting to note that seven of those states were won by Barack Obama on election night. In California, there are 139 “takers” for every 100 private sector workers. That is crazy! The American people have become absolutely addicted to government money, and it gets worse with each passing year. If you can believe it, entitlements accounted for 62 percent of all federal spending in fiscal year 2012. It would be one thing if we could afford all of this spending, but unfortunately we simply cannot. We are drowning in debt, and we are stealing more than a hundred million more dollars from future generations with each passing hour. No bank robber in history can match that kind of theft.
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Whistler Blowers, Insiders
Why is it that those who paid in either by working and getting lay-off or paid in and became disable or retired are see as TAKERS. Are you saying when you find yourself in future you will just Die so you do not ask for what you paid in or lay-off from?
This nation lived well on the backs of those who work 30 and more years. They paid the taxes that built schools and roads you have all used to be where you are now. I do not see you yelling for cuts in Congress retirements but let take food from children, sick or elderly.
Wall street had no problem risking retires money and still are. Clearly the workers of the past should have yell for higher wages and not trusted business and State and Federal Governments to keep their word to save back the money for the future, do better then the older generations.
Never trust your future to future hands of government and businessmen&women, they wont keep their word. And be willing to dump you because you not useful.
Well stated and I agree with your comments, but as yourself I got my Social Security card in 1954 and left the work force in 2008. (54 yrs) One of the companies I worked for went under and I lost my private pension, and the dollar has lost heaps of purchasing power. Obama care is on the horizon with the elderly on the bottom shelf, and that includes you and I. It looks as though the government will soon absorb the (401) accounts to bail themselves out of financial collapse and make it a part of SS, and, again; You and I must make more space on the bottom shelf. When the banks got into trouble, the government stepped it – bailed them out – and made it a tax payer problem – again creating more cramped space on the bottom shelf, and I cannot see any daylight in the future with the current government policies.
Well it was right here,,HAR! HAR!
Since the death panels were shot down, then demoralizing the elderly should shorten their life span…
If the money is deemed worthless, when did it loose it’s worth? Trillions of US dollars have been manipulated, stolen and otherwise used quite liberally by those in charge for a long time…The Federal Reserve
If money is worthless, then so is DEBT, a debt purchased with worthless money becomes VOID!
So canceling (all Americans debt should follow.) The Glass-Steagall Act can accomplish that, but Obama told Rolling Stones Magazine that he will NOT sign it.
Will the Clintons ever be exposed for doing away with honest money?
Will Geithner and associates all be arrested for money laundering transactions for the GIANT DRUG CARTELS that apparently support the governments of the world?…The NWO “elites” that have their hidden hands in that VERY BIG MONEY pie for a while. Will all of that be exposed when the dollar finally goes bust? Will ANY corruption be exposed or just swept aside, covered up like all the rest with the help of the so patriotic MSM?
Is the crime too big to fail? Is it the perfect crime? Is it too big to fail?
Millions want to know.
@msbetz…
Fractional reserve banking was invented in antiquity, in fact it can be traced back to Roman times.
The dismantling of the gold standard occurred in the very early 1930′s.
Either of these things by themselves are enough to claim that money is worthless; combining the two just made it ridiculously easy to do so. Also…
You do know that the Federal reserve is a private corporation and not a government facility don’t you?
@Mid aged Mayham
Maybe you should read all of it…………………………….
The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch.3) is an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes (now commonly known as the U.S. Dollar) and Federal Reserve Bank Notes as legal tender. The Act was signed into law by President Woodrow Wilson.
The end of the United States Gold Standard began in 1933 when President Franklin D.Roosevelt declared private ownership of gold to be illegal, except in the case of jewelry. The Bretton Woods System, however, allowed foreign governments to continue to sell their gold to the United States Treasury at a price of $35 per troy ounce from it’s inception in 1946 until President Richard Nixon ended the program in 1971, thus enabling gold to be traded at fluctuating market prices rather than the fixed price of $35 per troy ounce. This marked the end of the Gold Standard on a global level as no major economic system has employed the Gold Standard since that time.
Since the end of the Gold Standard in 1971, the United States has operated on a fiat currency, which is not backed by any precious metal or other commodity. This form of commerce allows for fluctuations in the global currency market that were not possible under the Gold Standard. Since the Gold Standard established a set amount of gold that could be purchased with a country’s currency, it also set the value of that currency. By ending the Gold Standard, it opened the way fo
@Anonymous…
Thank you for your support although it does make your initial comment somewhat confusing. Yes the Fed is a private corporation and in fact is a ‘being’ for all legal purposes. I see that we are in agreement on this matter.
To clarify my comment regarding the lack of intrinsic value in money i offer this perspective. Gold! What is it good for? It makes for a reasonable reflector, a proficient conductor but poor insulator and still it does not wear well as a paving stone.
Thing is, y’all have been saying this collapse is “IMMINENT” for like 2 years now – so where is it? It’s ok to say “the sky is falling!”, but it loses it’s weight when you say it every day over a period of months and it doesn’t happen.
Kinda’ like running around screaming “the sun is burning out!” Is it? Yes – in like 4 billion years. But should we start panicking, and getting everyone else panicked now? At this point, I’m so sick of hearing about it, I am just ready for it to be over with so all of you can say “See – we told you!” already. Sheez.
I know right…I happened to start a business that grew 10 fold through this so called collapsing economy. Its still growing. People are still buying un-necessary items..then there is the growing barter system in rural communities..some, I know are stuck in their jobs and cities but if you could, get out and meet some like-minded folks who aren’t so dependent on the system..a good example is the Amish, luckily we still have them around to show us that it’s still possible to live without all the gov’t, economies, and “entertainment” they shove down everybody else’s throats
This is such utter nonsense. The bankers and politicans are the takers. Not only do they rape and murder children, they have stolen trillons from the citizens.
Right on brother, er sister! Back when we were a productive country, businesses were shared by all, you were included in work place decisions and profit making. You felt like your work place was an extension of yourself, you helped each other grow and move forward. You didn’t mind going to work every day because you felt like a valuable employee. Today it is employment at will, you screw up or don’t agree with policy, you are out the door. There are way more managers and bosses than actual workers. Laws are fed down the ladder for those on the bottom to follow and obey without question or reasoning. They want more work and responsibility out of their employees without due compensation, they want 100% dedication yet give you nothing in return. I have had it with employers, bankers and politicians, there goals have nothing to do with working people, we are their chattel. Thanks for letting me rant, love to all, even those evil ones who are selfishly killing this country.
There is no question that the banksters and their government lap dogs are committing huge crimes against the people. And if it were not for their thugs their days would be numbered. Still… the entire society is built on a Ponzi scheme. We have all paid into a social security scheme, but, that money has been stolen. The only way to fund the medicare, medicaid, food stamps, housing assistance, EBT cards, etc. is indeed by using the “police power of the government” to shake down the minority of Americans that work.
The ONLY money the government has is that which it taxes from the private sector or prints. There is no social security lock box, you did not contribute to a medicaid savings account.
You were lied to by the people you trusted, but, now, if you get ANY kind of government check that money is being taken from your neighbors, their kids and their grandkids. Fine, as long as those checks keep coming, as long as those dollars purchase what you need, but, at some point, this transfer of wealth will end. Probably because there will no longer be any wealth to transfer, but possibly, because our grandchildren will realize that they need to take care of their children and not their grandparents, and as much as they would want to take care of us, they won’t be able to.
Humans live a very short life, and in the few years they are on this Earth they see only a very little, just because it has not happened in your lifetime does not mean it will never happen. The transfer of wealth from child to parent cannot endure forever. It will end.
I only worked into the system for 30 years, and then hurt my back fracking, I don’t feel one bit guilty about taking monies back I paid in that are generally worth only 25% of what was put in, if any pretend conservative , but really government bootlicker says different, I can prove how much gold the globalists could buy with mine and my employers fica deposits 30 years ago compared to what I see a month now. So many so called amurikans are really just looking for where the government criminal bootlicking is best. (this is generally true everywhere and is the main cause of your future total enslavement) This includes areas that you would expect home spun conservative values, well those values might be put up as a front, but people in those areas are going to make the best NAZI’s,,(and the gov knows it),you’ll see. HAR! HAR!
Aaahhh,,heck I’m being much too gracious, they already are government functionary NAZI’s! HAR! HAR!
MORONS!
It is not Nazis, but Zionist Banksters and Controllers doing this to you now no different what they did to Germany before WWII.
Only you are so braindead or brainwashed by their Hate Propaganda, that you do not see the Truth if it bit you in your 4 Letters.
America is now experiencing what Germany did in the late 30′s.
Only you don’t have a Statesman that can turn around your Economy to create Work and a healthy living.
History repeats itself only now it’s you Yanks that are the immediate Victims.
Just don’t start a Holocaust or otherwise you’ll hear about it for the next 100 years
Grin bear and enjoy.
Banks Barrow your Money when you make a deposit. That is what the Deposit Slip legally is.
They were under Security Agreements to repay the Money they owed. This was a part of the Waiver and benefits package, that is how they were to repay their debt.
They did not, and in fact have cooked the books all the way to the top, to insure that they do not have to repay the population.
They then illegally made the people the Surety for the Debt, they owed to the people. By then paying them again and again, multiple streams of profit and double enrichment….On the National ledgers this entry is all Double entries of DEBT.
I have been tracing the instruments for 5 years now. They have made the sole creditors of these Accounts, relabeled as the ‘Debtor.’ Then they deny access to view the instruments drawn on the accounts. This is why we put the ‘Open Records’ laws into place in the first place..this is a financial crime called “Covet Means.” In short, it allows them to create falsified records of debt, extract all the cash reserves in the nation, and collapse the economy. In the past, that would allow them to use Force of Law to then seize the Allodial lands.
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I’m not calling the author a lie but I am casting suspicion on the source providing the information, why? This country literally hide trillions of dollars and no one can account for it, EVER. So blaming the populace is wrong for the handouts they manage to receive. Didn’t Bill Cooper say back in 1998 that the goal was to make the populace dependent on governmental support so they will be willing to exchange their rights (and guns if need be) for that support? If people need help and they understand that the help they receive more than likely have strings attached they need to weigh the pros and cons of the matter.
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You call the people getting social assistance thieves, really? Goodness where have you been, that’s what the scandals of Countrywide,Enron and Tyco not to mention all the corporate bailouts were really about, THEFT. The government will not ever, EVER, spend more on the populace than corporate interests so stop hating on those people who are getting help from the government. The Ponzi Scheme known as Western Society is imploding, not because people are leeching off the system but because there’s no longevity in a society based on debt. Debt is not natural therefore a economy based on it can’t sustain itself hence one of the reasons it’s caving in. The other is a economy based on lies, deceit, killing, and perpetual wars all for the sake of money and resources is not natural as well when there’s plenty for all.
My advice to those receiving social services would be to not get comfortable and rely on the government to continue taking care of them. Eventually it’s gonna all come to an abrupt end so begin preparations on how you’re going to survive without it before the end don’t wait for it to end.
Call out Obama as the Antichrist before the Fiscal Cliff.
Heckle his press points everywhere no matter where he is in the world, even in China.
Yelling OBAMA ANTICHRIST
This is the Apocalypse so spread this good news
/opinion-conservative/2012/12/heckler-yells-obama-you-antichrist-2549720.html
The heckler knows what others dont.
cool.
If the indicators are, that too many people are on social assistance, it could mean one or two things,one that social assistance pays better than a Job, or two that there are too many people competing for a Job.
The latter part is easiest to fix, just stop accepting new immigrants particularly those that will go on welfare right away, including all of their Family members.
If you have to, then only bring in skilled workers, as you obviously have enough unskilled ones that are supported by much less contributors to the system.
Cut the powers of the Unions,which have been collecting dues, but had no power to stop the Lay-off of their contributing Members in the Auto Industry or anywhere else.
Create incentives and training for new Jobs,to look after your own people first.
Stop all the moneys going into NASA , HAARP,Afghanistan and other useless Money pits like Wars, that are very unpopular with the Masses in America and abroad.
But as long as you maintain the status quo by reelecting someone that has not fulfilled his promises,you deserve what you have at present.
In Germany they hailed Hitler because he brought Jobs and stability,when he went loony, they tried to assassinate him.(however you Americans are no different by invading foreign countries by force and War, using the same excuses that Hitler used).
Only difference is that Hitler did a lot of good for his own people, and I repeat and emphasize the word OWN people, which can not be said for you Americans.
So money fails. We’ll find something else to trade with, like skills and real assets.
But those hardest hit in a financial collapse aren’t most people. It’s the ultra-rich. Those who hide in the shadows behind their trusts and other legal entities. The cowards who won’t come into the light.
So this is one way to do it. If someone wants their US treasuries to be paid, they first register it into the name of an individual. Doesn’t matter if it’s sovereign debt from another nation. And then the individual has to provide verifiable proof of funds for the purchase and a statement regarding the source of funds.
Finally, they bid on how much they will discount the debt and those bidding the lowest get paid first.
No more stretching out the pain. It’s time for a principal reduction loan modification. And nothing gets paid while rolling out this program. The US needs to build its reserves and live within its means, and to stop borrowing money. I hereby disavow all of the stated and unstated US debt.
Trillions of dollars in 401K and retirement accounts now being greedily eyed by those who would have you believe trillions of dollars of debt are your valid obligation to pay. This was probably the plan all along.