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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (35154)	5/27/2008 7:27:07 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217798

just noticed, The Biggest Debt Beat Of All: To see this is like watching the edge of an expanding black hole in interstellar space, but this is a financial hole on the verge of swallowing an entire nation. The federal government's long-term financial obligations grew by $US 2.5 TRILLION last year, a reflection of the exploding costs of Medicare and Social Security benefits as more baby boomers reach retirement age. As reported in a USA Today analysis, American taxpayers are on the hook for a record $US 57.3 TRILLION in federal liabilities to cover the lifetime benefits of everyone eligible for Medicare, Social Security and other government programs. That’s $US 500,000 per household. When the liabilities of State and local governments are added to this, the total rises to $US 61.7 TRILLION. That’s $US 531,472 per household, more than four times what Americans owe in personal debt and mortgages. This is now front page news on USA Today. Staring Into The Abyss With Wide Open Eyes: Millions must have seen this report. The presidential candidates had nothing to say. The White House had nothing to say. Congress had nothing to say. Economically, this much is certain. The debt is unpayable, even if Americans who still have any are stripped of all their assets to pay for it. The American Social Revolution Ahead: At some point, Americans will start to realise the reality of this debt morass. They will try to count their own individual assets and, at that point, a national panic will take place. Today most Americans have more personal, household and other liabilities than they have assets. Once this sinks in, the US will be at the trigger-line of a social revolution because the physical assets Americans do have control over will, to most, become a life and death matter. To be stripped of them - as so many Americans are now being stripped of their houses - will mean to be left destitute in the street with nowhere to go. It has happened before. It happened during the 1930s when agents of bankers showed up to sell a farm they had repossessed. On the day of the auction, other farmers walked and rode up. They all had guns in their hands. The auction began and there were no bids. Finally, a younger man stood forward and offered one Dollar for the property. Silence. The agents for the bank tried to leave, only to find that they could not. The other farmers were still there and some raised their guns. Another long silence. Then the top man from the bank accepted the one Dollar bid and that one Dollar was handed over to be followed by a bill of sale. The younger man then handed another Dollar to the first farmer and all he said was that the other farmer could pay it back when he was able. The farm changed hands again and, entirely legally, the farm was back in the legal ownership of the original owner with no debts owing. The agents of the bank left in their cars in a cloud of dust. For a long way, they could see men and boys with guns along the roads. At the farm, the other farmers left one by one and went home. There had been no violence, nobody had died. But there would have been dead men if this had not happened and all the men there knew it, the farmers as well as the bank’s agents. This happened many times in the 1930s but the history of it has died in silence. In future, when the truth dawns on millions of Americans that the Federal Government is BROKE and unable to pay them what it has promised, the stage is set for streets and cities in chaos as Americans rise in rage and in fear.