Interesting how the United States Constitution is no longer being honored...
Preamble
"We the people of the United States, in order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the united States of America."
Notice the words "and secure the Blessings of Liberty to ourselves and our Posterity"..."our Posterity" will be slaves to the national debt and the taxes imposed from all of the government instigated programs.
Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts
Thursday, August 27, 2009
Thursday, June 4, 2009
Printing Money, Domestic Inflation WILL Rise.
No Sunshine and Lollipops in the U.S. Economic Future
June 4th, 2009 1:29 pm | by Mike Miller of Liberty Maven
If you’ve been following the actions of the Federal Reserve, the Treasury Secretary, and big spenders in government, it’s quite clear that our economic woes won’t be over any time soon. In fact, we’re potentially headed for a cataclysmic disaster (if that’s not repetitively redundant enough for you).
The Fed has lowered interested rates to effectively zero, and is now embarking on massive quantitative easing (a fancy euphemism for printing money) which could ultimately result in the destruction of the U.S. Dollar.
China is buying less and less of our bonds, and foreign governments are holding less and less dollars in favor of the Euro or other currencies, and there are even calls to have the dollar replaced as the world’s reserve currency.
US Treasury Secretary Timothy Geithner has gone to China to calm the fears. However, even before he arrived, a Chinese central bank spokesman gave Geithner the message that the US should not assume China will continue to finance Washington’s extravagant budgets. The governor of China’s central bank is calling for the abandonment of the dollar as reserve currency, using the International Monetary Fund’s Special Drawing Rights in its place.
The method by which the Fed “prints money” is by creating money out of thin air and then uses this money to buy our own Treasuries.
Washington’s financial irresponsibility has brought pressure on the dollar and the US bond market. Federal Reserve Chairman Bernanke thought he could push down interest rates on Treasuries by purchasing $300 billion of them. However, the result was to cause a sharp drop in Treasury prices and a rise in interest rates.
As monetization of federal debt goes forward, US interest rates will continue to rise, worsening the problems in the real estate sector. The dollar will continue to lose value, making it harder for the US to finance its budget and trade deficits. Domestic inflation will raise its ugly head despite high unemployment.
The incompetents who manage US economic policy have created a perfect storm.
…
Life for most Americans will become truly stressful.
No sunshine and lollipops here.
Read As the Dollar Falls off a Cliff… by Paul Craig Roberts in its entirety and subscribe to Liberty Maven.
June 4th, 2009 1:29 pm | by Mike Miller of Liberty Maven
If you’ve been following the actions of the Federal Reserve, the Treasury Secretary, and big spenders in government, it’s quite clear that our economic woes won’t be over any time soon. In fact, we’re potentially headed for a cataclysmic disaster (if that’s not repetitively redundant enough for you).
The Fed has lowered interested rates to effectively zero, and is now embarking on massive quantitative easing (a fancy euphemism for printing money) which could ultimately result in the destruction of the U.S. Dollar.
China is buying less and less of our bonds, and foreign governments are holding less and less dollars in favor of the Euro or other currencies, and there are even calls to have the dollar replaced as the world’s reserve currency.
US Treasury Secretary Timothy Geithner has gone to China to calm the fears. However, even before he arrived, a Chinese central bank spokesman gave Geithner the message that the US should not assume China will continue to finance Washington’s extravagant budgets. The governor of China’s central bank is calling for the abandonment of the dollar as reserve currency, using the International Monetary Fund’s Special Drawing Rights in its place.
The method by which the Fed “prints money” is by creating money out of thin air and then uses this money to buy our own Treasuries.
Washington’s financial irresponsibility has brought pressure on the dollar and the US bond market. Federal Reserve Chairman Bernanke thought he could push down interest rates on Treasuries by purchasing $300 billion of them. However, the result was to cause a sharp drop in Treasury prices and a rise in interest rates.
As monetization of federal debt goes forward, US interest rates will continue to rise, worsening the problems in the real estate sector. The dollar will continue to lose value, making it harder for the US to finance its budget and trade deficits. Domestic inflation will raise its ugly head despite high unemployment.
The incompetents who manage US economic policy have created a perfect storm.
…
Life for most Americans will become truly stressful.
No sunshine and lollipops here.
Read As the Dollar Falls off a Cliff… by Paul Craig Roberts in its entirety and subscribe to Liberty Maven.
Wednesday, October 22, 2008
Who Owns America?
Who owns America? American has incurred extraordinary amounts of debt due to war, disaster relief, stimulus for the economy, the massive bailout, and along with other reasons (which I am sure includes the pork put into bills for things hidden from the American public). I take issue with that!
The debt of the entire Third World and developing nations is about $1.65 Trillion dollars. The debt, as of October 20, 2008 (since the same date in 1993) is equal to $10,464,889,644,552.18, according the Treasury Direct . gov
The U.S. National Debt Clock
So, who owns America?
Feeling a little bit anxious? I am. All of the money the U.S. government needs for programs and the economic stimulus and bailouts is going to come from me and you, the taxpayers.
So, get out the yoga mat and do some ohms cause it's going to be a long and bumpy ride.
Sources:
www.brillig.com
The Wall Street Journal
ABC News.com - Money Beat
AskQuestions.Org
CNN.com
"The national debt clock, the unofficial tracker of the federal deficit maintained by the Durst Organization in New York, has reached its limits. Last month, as the national debt exceeded $10 trillion for the first time, the clock ran out of digits to record the number.
The dollar sign in the clock had to be deleted and replaced with a one to record the massive number. The clock’s owners say a new model — with space for two extra digits — will be in place early next year.
Now the debt clock will be able to reach the quadrillions. Hopefully, that’s not a level that will be breached any time soon. –Phil Izzo" --The Wall Street Journal, October 9, 2008
The debt of the entire Third World and developing nations is about $1.65 Trillion dollars. The debt, as of October 20, 2008 (since the same date in 1993) is equal to $10,464,889,644,552.18, according the Treasury Direct . gov
"“We had thought we would have a little more time,” said Douglas Durst, whose late father Seymour B. Durst, erected the sign in 1989, “We’re rewriting the software to deal with the current economic problems and are in the process of designing a new sign that will have more digits.”
The Durst Organization, a real estate firm, plans now to add two more digits to the clock. That means the debt clock could reach $999.9 trillion before it becomes obsolete -- that’s $999,999,999,999,999 in debt or about 100 times more than we have now."-Scott Mayerowitz, ABC News.com
The U.S. National Debt Clock
So, who owns America?
"Public owners include banks, private investors, pension funds, mutual fund companies, insurance companies, and state, local or foreign governments.
Government agencies holding the debt include the Social Security trust fund, Federal employee retirement funds, and other trust funds (transportation, housing, etc). Like any other investor, these government agencies earn interest on the bonds and treasury bills that they hold."--Cheryl Woodard, AskQuestions.org
Feeling a little bit anxious? I am. All of the money the U.S. government needs for programs and the economic stimulus and bailouts is going to come from me and you, the taxpayers.
"Many people don't understand how Wall Street works, but they can see that housing prices are tanking, food prices are rising and gas prices are soaring.
When that pot of gold also known as a retirement account starts to disappear down an economic black hole, it can be very unsettling.
This increased dread and anxiety makes some people behave in unhealthy ways"--Linda Petty, CNN
So, get out the yoga mat and do some ohms cause it's going to be a long and bumpy ride.
Sources:
www.brillig.com
The Wall Street Journal
ABC News.com - Money Beat
AskQuestions.Org
CNN.com
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