Saturday, February 19, 2011

Major Crisis Coming: Beyond Any Experienced Since Great Depression

We are facing a tipping point.  There will soon be a crisis affecting US citizens beyond any experienced since the Great Depression.  And it may happen within the year.  This past week three awful developments put a dagger into the hope for a growth-led recovery, which held promise of possibly averting a debt and currency implosion crushing the American economy.

The first was a little-noticed, but tragic, series of events in the newly elected House of Representatives.  The speaker, Mr. Boehner, had given the task of fashioning the majority's spending cut agenda to Representative Paul Ryan (R-Wisconsin), a rising conservative star representing the vocal wing of fiscal conservatives in the House. Promising to cut $100 billion of government spending, Mr. Boehner spoke before the elections of the urgency to produce immediately when Republicans took control.

Out of a $3.8 trillion government spending agenda, the wonkish Mr. Ryan, considered by many to be the best hope for fiscal conservatives, revealed proposed cuts of a whopping $74 billion.  After some tense meetings, (referred to as a "revolt" by some media) newly elected conservative congressmen convinced the leadership to commit to unspecified cuts of an additional $26 billion. The actual "cuts" from any such legislation will, of course, be less once the appropriate political log rolling and deal-making are done- let's call it $50 billion (while the deficit grows by $26 billion during the week it takes to discuss it). So go the hopes for serious spending restraint from our newly elected wave of rabid, anti-big government Republicans. They may deliver cuts 1.3% of total spending that is itself approximately 90% greater than collected taxes.  Let's mark this spending reduction effort as an epic fail, at a time when epic success is almost required for survival.
More Here..

Fear of 'Catastrophic' Crash Rising Despite Bull Market


  1. The gargantuan US economy reminds me of a God-
    zilla sized robot, that has been in an ongoing
    battle and is on the verge of falling down. As
    it stumbles along through the wasted cities, one
    eye hangs out of its's head is twisted
    sideways, one leg cocked a-skance, trying to keep
    it's balance but tipping over and when it finally
    crashes to the ground, the dust and debris fly up
    in the air thounsands of feet as people run for
    cover, women screaming, men crying, everyone
    knowing : THE GIG IS UP.

  2. Yes, the Sheeple will pay the price for not being vigilant concerning electing representatives and preserving freedom.

    Im not suggesting it encouraging or condoning it but I could see a very near future environment where a enraged public could take mob justice on socialist, progressives and democrats for spending the country into chaos. I hear real anger on the street growing toward where this socialist agenda has taken us.

  3. Socialism? I wasn't aware Socialism was bailing banks and big corporations out, giving them interest free loans to conduct business, and legislating any competition they have out of existence with regulations that only preserve the status quo and help the elite.

    My understanding of socialism was the dictionary definition of it:

    : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
    a : a system of society or group living in which there is no private property b : a system or condition of society in which the means of production are owned and controlled by the state
    : a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done

    Maybe if we actually had socialism people would be better off. Seems to me, it's the elites that would be most vehemently opposed to socialism and would in fact prevent it from occurring in any way possible. Surprise surpise, they got the sheeple to chant along with them.

    We're about as far from socialism as possible. The reason we are so fucked is because of unchecked corporate and banking greed, and a government owned by these people.

  4. americans are so stupid
    got gold
    american idle is on got to go.

  5. 12:42 - Really ? Quite a bit of your definitions
    sound pretty damn accurate as to where we are currently.
    Production and distribution controlled by state
    check, we got that times two
    Govermental ownership , check - they currently either own outright or run just about every damn corporation in the USA and of course wallstreet.
    Course the part about goods might not be so true because the stupid commie bastards shipped all of our basic manufacturing capability overseas a long time ago
    But alas! the services sector ! holy shit ! do we ever have services! we have every gadamn fucking service you could ever want - compliments of uncle sugar!
    Unequal distribution - check; we got that covered - just ask Charlie Rangel - he's probably in his Villa in the Dominican Republic

    You may reach him at 1 -800 - SuckAroot

  6. 3:06 - Right On!!

  7. Many of the comments here I agree with. 12:42pm included this statement:"because of unchecked corporate and banking greed". We all need to look at our own lives, both past and present and ask what part WE played in the greed problem. Sure we have been 'programmed' to be consumers and WOW we have been excellent students. What is so wrong with the concept of 'enough and a little more'. Whether referring to our residence, transportation, clothing, food, entertainment and the list goes on...when have we said I don't really need more? Without a change in our mindset, nothing can be corrected.

  8. You are right of course. The people we elected who we thought would cut the budget are failing us. However a large part of the blame falls on the voters. We gave the Senate to the Democrats and we need 67 conservatives in the Senate to overturn a veto. We did elect a majority Republican to the House but we also returned many Democrats like Pelosi who can only be called traitors. We, the voters elected this fool to the presidency and we are going to pay the price for it. We elected the Democrats into the majority in 2006 and they have spent like drunken sailors. We did it!

  9. 12:42 is delusional. Communist idiots would rather die than change their way of thinking.

    3:06 you're exactly right.

    We have reached a Socialist system, you know Marxists, the transition at the end of a capitalist one? We've been in it for about 15 years so far, of course with decades here and there that brought upon greater government all throughout the 20th century.

    That's Progressivism. I'd like to point out something important though. It wasn't Democrats solely. As far as the Progressivism that has hijacked both major parties, each is responsible for pushing their power in different directions that still leads to the same goal (Collective Power to the Government over the individuals).

    The left wing of the Progressive party is designed to cripple the system within. This is done by raping our values, creating state dependence, pushing drugs and STDs, demanding economic strains and regulations, dumbing down the education, and breaking up the family unit.

    The right wing of the Progressive party is meant mostly for the military industrial complex and heightened security measures over the people. The military industrial complex is to devour the resources of other countries to expand big pharma and also bring the dope into the country for street usage.

    The FBI and Homeland Security are nothing more than a domestic spy network to attain control over the masses intelligently, and for anybody stepping too far out they send in the muscle (cops).

    The right wing of the Progressives are also about defending big business, Wallstreet, the money and the banking system. The common Conservative will be duped into defending these as well thinking only Socialists attack them. Conservatives, listen. None of the above exemplify America or the American way. They are all anti American, anti freedom, anti individual, and go hand in hand with the on coming Communist or Fascist system.

    Why Wallstreet and big business? They prevent the little man, the average person regardless of education, to ever hope to succeed in their own business. 20,000 commercials watched every year by the average child. This is not a positive example of the "free market", that's just plain mind rape. But you and I could never compete with people like that who have the connections to advertise across hundreds of stations.

    The Communist system will be the totalitarian centralized government if the government continues to grow and it ends up in the hands of a far leftist.

    The fascist system will be the totalitarian state with increased government power and then ending up in the hands of a common, modern Republican politician.

    The Progressives are on both sides and meet the same ends. Same beginning, and same underlying emotional dysfunctions. They simply cannot leave people alone. That's all it takes to be a Progressive.

  10. And this is why we are fucked. The sheep actually think the government owns Wall St. They think the government is bullying around the poor little corporations and banks.

    The corporations and banks OWN the government. They make all the laws and rules the way they want, the government is a mere puppet. That is why it matters not who is elected or in office. They will not do a thing the corporate elite do not want. Even that healthcare bill that they pretended they didn't want, it's the exact bill they themselves proposed and wrote. They just put on a show for the more stupid people in the country---which is even the people on this website.

    I can personally go either way on the whole socialism thing. But people seriously don't get that the elites run the government? Wow!

  11. corporatism
    this current collapse is bad in that most every country is near/in the same boat all at the same time, a worldwide collapse. of course the solution they'll put forth is a worldwide global fix huh
    7 heads and 10 kings without traditional kingdoms to rule them all

  12. Socialism maybe...but capitalism sure ain't been the satus quo for a while now!

  13. Ok one definition of socialism is given above.
    But what about corporate state capitalism often simply refered to as fascism or fascist imperialist warmongering.
    In this economic crisis What with bailouts socialising the losses of the rich after a coup over Treasury it does not look like socialism to me.
    If the jackboot fits…
    “Corporatism is sometimes considered a synonym for fascism owing to the corporatist structures created by Mussolini's regime as well as in the latter years of the Third Reich under Albert Speer's direction. Corporatism was viewed by some as an appropriate strategy to prevent worker unrest, as well as a potentially and effective economic strategy. Franklin D. Roosevelt was one such proponent. While Roosevelt was not a fascist - he declared a loathing for authoritarianism - his liberal corporatism was part of his vision for a "third way", reflected in the New Deal.”
    Has Obama and the other puppet politicos got a “new deal” for you

  14. Could Obama care ,enforced insurance for guaranteeing the profits of the insurance industry, be considered a corporatist state structure?

  15. 5.39 says:
    'The Communist system will be the totalitarian centralized government if the government continues to grow and it ends up in the hands of a far leftist.

    The fascist system will be the totalitarian state with increased government power and then ending up in the hands of a common, modern Republican politician.”

    This is to see things as the management of the economy and society through rule of the radical "ideas" of a "great man" theory of history.

    Conservatives, supporters of the Status Quo attempt to create fear of changes in society by creating fear of ‘great men” as if they were all simply insane individualists ,even branding them all as "Socialists" or even communists disguised as progressives !
    But these "great men" are only products of their time as representatives of views on control of property and distribution of the social product and wealth either in the interests of the different classes or of elite oligarchies and their monopolies.

    The public face 'leader" becomes an articulate spokesperson of the different mutually antagonistic economic interests of this or that class or section of society in bringing about change.

    Often these 'great men" are mere paid puppets representatives of the various classes or elites as Hitler was.

    Fake messiahs promising 'hope and change” for the "masses” even portraying himself as a more cost efficient and more humane military leader for the systems wars may arise or be promoted by the elites whose real purpose and role is to preserve the existing setup.

    Come the time for necessary changes in the reorganization of society comes the man or woman clearly summing up and expressing the ideas suitable for this or that class or sector, perhaps a "reactionary" fuehrer type corporate state spokesperson for the interests of the Elites in an attempt to recreate and invigorate past 'ideal" conditions of life such as 'pure capitalism" . Or perhaps a "progressives" or socialists seeking new or more rational conditions of organizing economic life, production and 'fairer' distribution of the social wealth ,as it is becomes clear that the old ways are no longer working (except for the elites ) or inefficient .
    Or even insane .
    Like the current turn to bailouts and the printing press to pay of past debts to capital by the creation of more debt as 'national debts" for the taxpayers to pay off .
    Even though the small taxpayers and working people are already weighed down with their own debts.
    Capital and its spokespersons cry for Austerity as the cost saving solution to enforcing increased payments of the debts. creating a nation of underemployed Debt Peons.

    It is inevitable that spokespersons and political movements or parties most clearly expressing the needs of the underemployed underclass and debt peons for resistance will arise and the elite will seek to marginalize those spokespersons with whatever means it can using its MSM ,sex scandals, accusations of “anti –Semitism” or whatever.

    Some people because they have a vote and “free speech imagine that they too are playing the role of "great" men by pontificating from an armchair on what they are told is real by the MSM and a lifetime of conditioning.

    But the “great men” can achieve nothing by themselves without first organizing the sectors of society they speak for as movements for the interests of the people or its classes.
    To acheive sucsess the great leaders or parties
    must portray themselves as spokesman of the interests of all classes not narrow sectional interests.

  16. This country has produced some truly great men and women.

    Unfortuantly for all involved; we ain't had one of these particular individulas in, oh 'bout 60 years or so.

    I include myself is said comment

    We are; as a whole; so very


    Unfortunantly again; with extraordinary problems

  17. Ordinary 'normal" times produce ordinary leaders because that is all that is required.
    To be “Great” requires leadership emerging in times of crisis ,when old ideological frameworks are seen as outdated and not matching economic realty or restricting peoples needs. Comes the time comes the man propelled into for example france found a napoleon and America a Washington and a Jefferson.

    “To achieve success the great leaders or parties
    must portray themselves as spokesman of the interests of all classes not narrow sectional interests.”

    Thus the “founding fathers” of America developed ideologies and constitutional frameworks in the interests of the vast majority of Americans in defeating arbitrary rule by foreign monarchies and are seen as ‘great’.
    The times produced the necessary leaders. America needed to be free for development of its own economy and trade in the hands of its own people.
    It particular as mostly rich landowners and even slaveholders The “founding fathers” were able to preserve their own economic situation as the existing establishmentin the old colonies while catering to the land hunger of the ordinary Americans then restricted by the king to the existing colonial lands already handed out. By opening the American Frontier for settlement .As well as the ideas ,the revolutionary fighters were inspired by the practical promise of material gain ,a promise of a land grant for every soldier ! America empire was off and running at the Indian lands!
    During the last great depression Roosevelt emerged as the savior of American capitalism and claimed that he worked in the interest of ALL Americans even by promoting “patriotic” unions cooperating with business in his version of a more Democratic Corporate State. Building infrastructure like the Hoover dam with employment financed by state money issues. Some consider he was a “great” president. But ultimately the failed economy fueled by Keynesian style spending and money printing was unable to recover and Roosevelts economics failed ,until a war and war economy was developed after nearly a decade of misery.
    In Germany Hitler emerged with his own openly dictatorial version of the Corporate State for saving capitalism, with business and unions patriotically class collaborationist and cooperative with Fascism. Hitler appeared ‘great” for a while building infrastructure like the Autobahns with employment financed by state money issues. As that failed to continue to be profitable and the state debts mounted the fascists turned to war and looting the assets and labor forces of other countries.
    Thus it can be seen that the Corporate State and money printing were failures and the ‘great” leaders of the Corporate State solution were forced in the end to turn to war to keep the economy and capitalism expanding.
    At this time of economic debt crisis the old ideologies based on the old constitutional framework, now corrupted, and the American dream where people believed they could get some value, a share in the socially created wealth from their own work are seen to have failed, as asset wealth and future debt ownership is only accumulating in the hands of the elite .
    To solve those problems, new political party organization and even “great” American leaders and new ideologies suitable for the times will emerge.
    The times and peoples economic needs will demand it.
    but expanding Empire and even more wars is no way out .That has already failed.


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