Why We Are On The Brink Of The Greatest Depression Of All Time
Published August 23, 2012
Everywhere from FoxNews.com to CNBC.com, I suddenly see commentators warning of pending doom, economic collapse, and a new Great Depression. Welcome to my club. Perhaps America’s politicians and economists should have paid attention to an entrepreneur and small businessman that has been warning of economic collapse and a new Great Depression publicly for over two years.Continued below.
Lindsey Williams: US Government Will Shutdown Financially
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Gerald Celente – How Much Lower Can America Sink?
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Isaac ‘Could Rival Hurricane Katrina’
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Jesuit Controlled Freemason : The Evil Serpents Body Is Wrapped Firmly Around America
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Americans Without Gold And Silver ‘Will Starve’ As Crisis Accellerates
More importantly, none of the current commentaries mention the “why’s” of this slow motion economic collapse…beyond the obvious — mountains of deficit and debt. None of them mention the dysfunctional structure of the current U.S. economy and the massive changes in the work ethic and mindset of the average American.
I am a successful small businessman and a patriot who loves America and always sees its greatness. I am also an optimistic, positive thinker who always sees the glass half full.
But not this time.
This time we are in such deep trouble, the only solution is a radical restructuring of the politicians, the economy, and the way we view personal responsibility versus government handouts. If those changes don’t come then we are facing a long decline and the eventual end of America.
The economy is crumbling. The situation is turning more hopeless by the hour. The more government gets involved, the worse it gets. Coincidence?
This time the results are going to be dramatically worse than 1929. This time we are facing The Greatest Depression ever.
Why? Because The Great Depression had NONE of the structural, economic, and social problems, nor the massive obligations we are now facing. Read the facts:
In 1929 America was not $16 trillion in debt, plus facing over $100 trillion in unfunded liabilities. That’s over $360,000 in debt per citizen.
In 1929, most of our states were not bankrupt, insolvent and dependent on federal government handouts to survive. One county (Cook County which includes Chicago, Illinois) now owes over $108 billion in debt (the biggest part of it in unfunded government employee pensions).
In 1929, we did not have 21 million government employees with bloated salaries, obscene pensions, and free health care for life. Today 1 out of 5 federal employees earn over $100,000.
Today, 77,000 federal employees earn more than the governors of their states.
Staggering numbers of federal government employees retire at a young age with $100,000 pensions for life.
Unfortunately on the state and local levels it’s even worse. There is now nearly $4 trillion in unfunded pension liabilities for state government employees.
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Well, couldn’t agree more. Only the government knows if they do that there will be 300,000,000 poor and hungry Americans in a few month time. They chose the longer path to misery by having a massive inflation that’s coming. That’s the socialist way of doing it.
But the final bill is coming either way!
Before the last Bush got into office this country was in pretty good shape. It started sliding into the mire with him, while he feathered his nest with OPEC and others, and it has not seen a climb of any kind out of the mire with our present President. We have only sank farther into the mire. Saw this coming years ago. Wish the rest of America had seen it. But buckle down folks and prepare to survive or you won’t make it. Get smart on survival, and it is not running to your local store or fast food joint.
“It started to Mire with him,” Really??? This is what Americans believe? Have we forgotten that only months after he took office that America had been the target of the largest terrorist attack in our history. This had a massive impact on our economy. I agree with your survival statement but please, can we stop blaming Bush? This is getting silly.
Depression is the outcome of the instability and unsustainability of the fractional reserve banking system as implemented by the Federal Reserve Act of 1913. Not only do banks only keep fractional reserves, but those reserves are simply the debts of the Federal Reserve Bank. There is no gold backing these debts; they are just paper promises, designed to be broken. And when these debts can only be paid in nothing, you will discover that the value of your bank accounts is nothing, zero, nada. The value of government promises like Social Security and Medicare is nothing since they too were promises made to be broken. I would offer you nothing if you wanted to assign your Social Security benefits to me because in my opinion, they are soon to be worthless.
You have been defrauded. It is complex to understand if you look at the details, but simple if you just consider the federal government and the special interests is supports like the banking cartel and the medical monopoly, are in the business of taking your wealth through the political system and putting it in their own pockets. Bend over and grab your ankles.
Unfortunately, the masses are unable to grasp that they have been the victim of the greatest con-job in the world, government.
i’m sorry but whats wrong with the working man earning a good wage and a good pension??.is that reserved only for the rich,ceo’s and bankers??..oh and the congress…the problem is not that these “workers” are earning a good wage and pension,it’s idiots like the writer of this story who thinks that a fair wage will cause a depression…when the root of the problem is the middle class jobs being shipped off to china,india and other third world country’s so these corporation’s and there ceo’s can make there billions..and let’s not forget these scum bag bankers who caused this mess and not ONE has been held accountable….WAKE UP PEOPLE this is what the elitist’s,corporate america want you to think..if it were up to them minimum wage would be too high a pay..
i see an interesting article and go to investigate and then notice that it has been aupplied by barracuda and therefore junk.
Why? Because White skinned men in suits control the chessboard, playing the races of humanity as pawns… They choose who live,die,suffer, go bankrupt ,etc,etc,… they have a blood lust that keep humanity in dis array, they are incapable of allowing humanity to grow to its fullest potential…
Your racist rants will no longer get you anywhere loser. In November we throw your racist, Marxist muslim messiah out of office and you can scream all you want about it being due to racism but the truth is, America don’t like Anti-American, Marxist muslims. He is toast, I wish I could see your face on election night lib.
It is key to understanding the present state of affairs by looking at the “planned” implosion of the US financial system by the implosion of the US dollar, aka the world currency. Let me explain. Under POTUS Clinton, and by his hand, the Glass–Steagall Act (1933) was repealed and this allowed banks to regulate their own risk and also, to speculate in the stock markets (bad move). What they all saw coming was the Basel Accords, which have yet to fully kick in, which began reigning in the banking speculation by requiring higher reserve requirements. The Bank for International Settlements – the Central Banks for Central Banks (founded by the Vatican and the Nazis) are the ones to thank; they saw all of this coming; and, they not only profited thereby, they are also planning absolute domination of their Fourth Reich with financial conquest as the war de jure. Basel III kicks in January 2013 and the S will HTF~! … no matter who is POTUS.