The
Coming Current Financial Collapse of the
United States
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Aug. 13, 2007
Financial Times
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Learn
From the Fall of Rome, the US Warned
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Aug. 14, 2007
Antiwar.com
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Decline
and Fall
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Aug. 18, 2007
Roanoke Times
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Could
America Be the Next Rome?
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Aug. 23, 2007
Online Journal
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Financial
Bankruptcy, the US Dollar and the Real Economy
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". . the biggest deficit in America
is the leadership deficit".
". . burning platform of unsustainable policies with fiscal
deficits ."
Source: David Walker, the Comptroller General of the
U.S.
Who Agrees? Ben Bernanke, Chairman of the Federal reserve,
for one, and Senator Fred Thompson, for another. Nobody else
is talking. It is the most controversial political subject
there is.
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Latest
News from David Walker
David Walker, CEO,
Peter G.
Peterson Foundation
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Sources
of Democracy Destruction - Corporate Power
The EVIL
FACTORS
(The
following views are mine alone, and not those of David
Walker.)
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CORRUPTION -
DESTROYED BY GREED
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Lobbyists
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There are 24,000 corporate
lobbyists in Washington, DC, whose sole function is to bribe
congressmen - give them millions
of dollars, to get their way. IN
EVERY CASE, this activity is detrimental to US
citizens.
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Congress
Whores
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All congressmen are rich. You don't
become a congressman unless you are rich. This country of
the rich, is controlled by the rich, for the rich.
Forget about "Mr. Deeds Goes to Washington." It was pure
fantasy, and will not happen in your lifetime.
Pie-in-the-sky optimism. Naive idealism.
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Moral
Decay
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The country is UTTERLY LACKING in
leadership. Self-gratification rules all, so-called popular
music has become vile filth, and sex and drugs are the
primary pursuit of many of the populace. Self-restraint is
untaught and unknown. Our schools are failing miserably. US
prison population rates are the highest in the world, per
capita. Most offenses are related to drugs.
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AMERICA SOLD
OUT
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Media
Monopolies
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There is no more independent
journalism. You don't get published unless you espouse the
corporate line. "Investigative journalism" no longer exists.
Truth can only be found on the Internet, and you must look
hard to find it.
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Manipulated
Population
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We are all bombarded with corporate
propaganda daily. Election issues are muddied by
organizations who sound like they are for something, when in
fact, they are totally against it. Deception abounds. To
make an informed decision, Americans must study each issue
in minute detail, if they are not to be deceived. Precious
few have the time to do this. Even fewer, the inclination.
So they vote for slogans, which are totally misleading, and
are meant to be. They identify with a group, and do what
they are told. How could George Bush possibly have been
elected twice? Unfathomable.
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Unchecked
Immigration
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Illegal immigrants are pouring into
this country, and taking the jobs of US citizens. Don't
listen to the lie that "They are only taking the jobs that
Americans don't want." This is the propaganda of corporate
interests, so that they can become richer. Jobs that used to
pay $15 per hour now pay $5 per hour. THAT'S the reason that
Americans "don't want the jobs."
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Free
Trade
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Jobs are shipped offshore, with
reckless abandon.
So that corporations can achieve cheaper labor.
Foreign sweatshops abound. American workers don't count
anymore. Only corporations.
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Elections
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With the use of "voting machines",
falsifying election results has become far easier. The
election of 2004 confirmed this in Ohio and Florida, in
spades. Expect more of the same, only worse. Neocon
manipulators now determine elections, not the people. How
could George Bush possibly have been elected twice? He
wasn't.
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The Underlying
Problems:
The folly of insupportable
foreign wars
The folly of runaway deficit spending
The plethora of interest-only mortgages
The peaking of the national debt held by China and
Japan
The executive branch run amok - Congress
impotent.
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THE
ORDER OF EVENTS - COLLAPSE
TIMETABLE
(I have no idea how this
will actually play out, but I thought that I would take a
shot at trying to predict the sequence and timing of the
collapse, just for drill.)
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2007
WaZappnin?
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The Dow Jones Industrial Average
Hits 14,000.
July
19, 2007 - It will never be that high again.
The vaporization of foreign
lenders
China
Dumping Treasuries?
Collapse of the dollar
Dollar
Hits New Low
The steadily rising price of gold
Gold
Hits 16-month High
The only tool US leaders have is
distraction.
The
Upcoming Bombing of Iran
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2008
Recession Now,
only to get worse.
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Collapse of the Real Estate
Market
Runaway
Mortgage Defaults
Home
prices continuing to drop
Runaway Oil
Prices
Runaway Food
Prices - Food Riots
Airline
Bankruptcies - reduced routes,
higher prices
Collapse of Financial Institutions -
-- Collapse
of Bear Stearns - Government bailout March 2008 -
$29
B
-- GM
Hits 53-Year Low - June 26,
2008
-- Collapse
of IndyMac Bancorp - Government bailout July 2008 -
$9
B
Consumed 1/5 of the total
insurance fund! ("100 more coming")
WaMu and National City
next?
-- Failure
of Fannie Mae and Freddie Mac - Government bailout July
2008
"$200 B" is bull - it is much
closer to $1
Trillion
-- 10th
Bank Failure of 2008 - Aug. 2008
-- Lehman
Bros. failure - 158 years old - Fed refuses rescue -
Sept. 14
-- Merrill
Lynch - 94 years old - 48 hour sale - Sept. 15
-- Dow
Drops 500 points - Sept. 15
-- AIG
Insurance - Government bailout - Sept. 17 -
$85B
-- Goldman
Sachs - Government bailout - Sept. 22
-- Morgan
Stanley - Government bailout - Sept. 22
-- Washington
Mutual seized - fire sale to J.P. Morgan - Sept. 25 -
$1.9 B
Sept. 29, 2008 - Black
Monday
-- Four European bank
failures - Sept. 29
-- Wachovia for sale to Citibank - Sept. 29 -
$2.1 B
-- Congress fails to pass
bailout
-- Dow Jones Crash -
biggest drop in history - Sept. 29
-777 points
-- Wells Fargo ups Ante for
Wachovia to $15.1
B - Oct. 3, 2008
-- Dow
Drops 800 in one day - Oct. 6,
2008
-- AIG
Gets $37.9 B MORE - Oct. 8, 2008 - Another party next
week
-- Dow
Closes Down 679 - Oct. 9, 2008
-- Wells Fargo Wins Wachovia for
$11.7 B in stock
- Oct. 9, 2008
.. "unmerciful disaster, followed fast and followed faster"
. . .
. . . . . The Raven, Edgar Allen Poe
Later,
Failure of XYZ, who'll be next?
More robber barons WALK WITH THE MONEY - YOU PAY!
Wall Street consists of 100% crooks.
Socialism for the rich - NONE for you! YOU PAY for their
greed!
They keep the profits - YOU pay all their losses!
Health insurance companies reject claims, while the execs
grab millions.
THIS COUNTRY IS RUN BY THIEVES! Your kids don't have a
chance!
The U.S. Congress screws everyone, for the lobbyist
money.
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2009
Depression
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Continuing housing collapse - no
help for homeowners.
Health insurance companies drive thousands into
bankruptcy.
Runaway Unemployment - many no longer looking
Benefits run out for millions
-- True
Unemployment Hits 17% - Oct. 2, 2009
Runaway Inflation - the dollar
continues to drop.
-- 98th
US Bank Fails - Oct. 2, 2009
"Hundreds more" to follow
-- FDIC
Is Broke - Sept. 26, 2009
-- Gold
hits $1,040 Oz. - Oct. 6, 2009
Oil will no longer be traded
in dollars, but in gold.
Entire financial system is a sham, of repackaged bad
debt.
First collapse of the stock market has already
occurred - Oct. 2008
China has stopped buying our debt, due to the imminent
collapse of the treasuries
market, accompanied by the
Collapse of the bond market
Second collapse of the stock market
The peaking of consumer debt
-- Mass Debt Default
Distraction is the only remaining tool of US politicians
"Dancing With the Stars" isn't going to be quite enough,
and neither is "Kate and Jon".
Another 911 is planned by the CIA/ Neocons to assure Carte
Blanche -
just like the battleship
Maine, Pearl Harbor, Tonkin Gulf, and the first 911.
Israel attacks Iran - Russia will come to the aid of
Iran.
Rise of protectionism - collapse of International Trade
World economic depression
Crude oil continuing to rise due to world demand
Severely reduced airline routes, 55 MPH auto speed
imposed
Collapse of the airlines and trucking - fuel too
expensive
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2010
Panic
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The suspension of the Constitution,
with martial law imposed.
Gold will reach $8,000 an ounce. And beyond.
People will be defending their foreclosed homes with
firearms - the government will not be able to do anything
about it - possession will determine ownership. Well-armed
rural residents will be defending themselves from hordes of
city-dwellers seeking food.
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2011
Collapse
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The rise of a barter economy
Difficulty getting food
No gasoline available - Electric vehicles and horses
only
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2012
Doom
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Will the end of the "long count" of
the Mayan calendar (December 21, 2012), result in the end of
civilization, through a major catastrophe? Will the sun come
up tomorrow? Probably. But, who
knows?
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REVOLUTION
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Revolution?
Nah. The guys calling the shots need that
corporate lobbyist payola.
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The Declaration of Independence
clearly states, and I quote, "that whenever any Form of
Government becomes destructive of these ends, it is the
Right of the People to alter or to abolish it, and to
institute new Government."
THESE ARE THE WORDS OF THE FOUNDING FATHERS.
But who is going to do this? Certainly not the congressmen,
whose very existence is based upon sucking at the corporate
lobbyist teats.
How can we change the current state of affairs? I don't
think we can. We are all doomed to corporate servitude.
There is nothing we can do, although some try, such as
Ralph
Nader.
Are we truly in the "last days", described by the prophets
of the new testament? Is our destruction immanent? The US
Comptroller General says that the collapse of the American
financial system is inevitable, and in the near future. The
COMPTROLLER GENERAL OF THE U.S.! WHO IS MORE QUALIFIED to
make such a statement?
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WHY REVOLUTION WON'T HAPPEN
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We are truly a nation of sheep.
Americans are too self-consumed, undereducated,
under-informed, and under-motivated to do anything about the
crisis. The system will collapse long before Americans will
do anything about it, or even realize it's happening. We
cannot "spend our way" out of this one. Even the rich are
doomed. There is no escape.
Eat, drink, and be merry. Take on more debt. You will be
able to pay it off with cheaper dollars. Except you won't be
able to get enough cheaper dollars.
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WHAT CAN BE DONE ABOUT THE
FISCAL
CRISIS?
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Nothing. We are doomed.
We have already gone too far with unsecured debt.
We just don't know it yet. It cannot be reversed.
Everyone in the US will be deeply affected.
There is no solution. There is no escape.
The financial pessimist point of view. Realistic?
Absolutely.
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WHAT CAN BE DONE ABOUT
GLOBAL
WARMING?
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Nothing. We are doomed.
We have already gone too far with carbon emissions.
We just don't know it yet. It cannot be reversed.
Everyone in the WORLD will be deeply affected.
There is no solution. There is no escape.
. . . The environmental pessimist point of view. Realistic?
Possibly.
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The
Historical Collapse of Civilizations
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Approx.
Period
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# of Years
Domination
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Empire
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1000 BC - 323
BC
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680 years
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Greece
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550 BC - 330
BC
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220 years
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Persia
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27 BC - 476 AD
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500 years
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Rome
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1299 AD - 1922
AD
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700 years
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Ottoman
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1402 - 1806
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400 years
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Spain
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1583 - 1921
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340 years
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Britain
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1800 - 2010
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210
years
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United States - not so long,
by comparison,
but we live in a highly accelerated age.
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ALL great civilizations of the past
have fallen.
Why do you think that the US is any different? Your
patriotic ego?
That won't help. It will only hasten the fall, by keeping
you in dreamland.
Quoting David Walker - The undeniable, inescapable
truth is -
We are repeating the identical 3 sins that doomed the Roman
Empire -
1. "declining moral values and political civility at
home",
(hedonism,
entertainment culture, consumption culture, corporate greed,
government by lobbyist, impotent Congress, leadership
failure, Bush the destroyer, mad dog Cheney)
2. "an overconfident and overextended military in foreign
lands"
(false pretenses Iraq
war, Afghanistan war, war privatization for profit
(Blackwater), talk of bombing Iran, thousands of new
terrorists, war at any cost) and
3. "fiscal irresponsibility by the central
government"
(tax cuts, deficit
spending, insupportable social programs, foreign
debt).
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150
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100
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300
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