A wake up call to all Americans from the U.S. Government Accountability Office (GAO) – (formerly the “General Accounting Office”).
http://GAO.gov
(since its over 10 min, i had to remove a few scenes in start to upload it)
Also do read this from Federal Reserve Bank of St. Louis Review, July/August 2006, 88(4), pp. 235-49:
“Is the United States Bankrupt?”
http://research.stlouisfed.org/publications/review/06/07/Kotlikoff.pdf
“This paper explores these views from both partial and general equilibrium perspectives. It concludes that countries can go broke, that the United States is going broke….”
- How can the US go bankrupt, when it can just print new money (US Dollars) at no cost? You cant, you just dont want people to watch the money supply too close then, which is why FED stopped showing the M3 money supply in 2006:
http://www.federalreserve.gov/Releases/h6/discm3.htm
- but the huge supply of newly printed US dollars will decrease its value. Ask yourself if the US dollar has fallen in value against other currencies lately e.g. the Euro, British Pound, Canadian dollar? or if gold or oil cost more in USD lately?
- In God you trust……but the FED?
Only one honest US politician will tell you whats really going on, Ron Paul. Not only does Ron Paul question the FED, he also want to shut down the IRS – if you wonder why, watch this almost 2 hour long video, and I am quite sure you can understand. If you think this movie shown here is scary, you havent seen anything yet:
http://video.google.com/videoplay?docid=-1656880303867390173
Forum:
http://eucitizens.eu
Duration : 0:9:5
October 24th, 2009 at 1:12 pm
I agree, the …
I agree, the newsletter has been a huge help for me personally.. check it out, its free anyway.. authoropen . com
October 24th, 2009 at 1:12 pm
In a sense your …
In a sense your comment is an oxymoron; you say the US doesn’t live beyond its means, but then add that it was living off riches that didn’t exist. Which is it? =)
If US labor doesn’t compete,you wouldn’t produce anything at all. If they’re not competitive, in a market economy, the would be put out of work. People are working. So that doesn’t add up.
The fact is: you are quite simply spending more money, than you are making. You’re producing, but you waste it on vanities, that don’t last.
October 24th, 2009 at 1:12 pm
The government …
The government officials you’re talking about ARE baby boomers.
Of course you can’t blame all the baby boomers, but it still is the baby boomers as a generation, that lived beyond their means, and need the rest of the nation to pay for their upkeep.
There’s nothing wrong with needing someone to upkeep you in your old age. The problem is, that the baby boomers outnumber the following generations, meaning your GDP will plummet, when they retire. At the same time medicare costs will skyrocket.
October 24th, 2009 at 1:12 pm
Spending $1 …
Spending $1 TRILLION a year can’t be repairing anything! Peter Schiff is correct, we will see hyperinflation in the U.S. It doesn’t even matter which political parties are in control when such spending is so out of control!
October 24th, 2009 at 1:12 pm
its time to embrace …
its time to embrace technology and stop living in manufactured scarcity.
the for profit system has failed and will completely collapse.
we need to build a robotic labor force, that is capable of repairing themselves.
the technology exists, the money does not.
so abandon the financial systems and embrace the resource based economy.
it is the only way.
October 24th, 2009 at 1:12 pm
What is wrong with …
What is wrong with this video? This jerk is blaming the baby boomers for going to bankrupt the monetary system. These people are used as escape goats! They have worked hard all their lives, contributed to the Social Security system so now they are told they can’t collect their hard earned entitlements? That is just ridiculous. Why not harp on the main culprit of the out of control spending….. Its our government officials that can’t stick to a budget!
October 24th, 2009 at 1:12 pm
You are a sovereign …
You are a sovereign entity, by this I mean you are no longer controlled or run by the people. The people simply sprint every saddening day while you put on your suit and tie. The people understand and appreciate the sun rise while you put on your suit and tie, and begin to explain how much positive information you can make up an tell us how we must pay taxes! YOU SIR ARE UNACCEPTABLE ! The people have suffered themselfs confused. Now thanks to OBAMA your sovereign entity you call government is w
October 24th, 2009 at 1:12 pm
The problem is not …
The problem is not with the USA living beyond it’s means. The problem is that the USA no longer competes with the world economy for reasons. One reason, the world economy is off balance due to labor wages. American workers cannot compete. Another reason, the USA was living off riches which did not exist. Wall Street disclosed this to us. So did Madoff of course.
We need a robotic economy. Our probelms could be solved this way. None of us will have to work.
October 24th, 2009 at 1:12 pm
USA has more debt …
USA has more debt than any other country. Seems ironic as the “richest country”? lol
October 24th, 2009 at 1:12 pm
You mean all U.S. …
You mean all U.S. citizens, residents, the government, the land mass, or the abstract national construct? It’s meaningless to say the U.S. only cares abot money. Every person in the world cares about money. You need it to live.
October 24th, 2009 at 1:12 pm
What was your major …
What was your major? I feel bad about your situation and was in a similiar one a few years back. I was probably the only landscaper with a Bachelor’s Degree in Computer Science at the time haha. I just thugged it out and after about 2 years I got lucky. They say luck is being ready to act when oppurtunity arises. I wouldn’t worry about working in your field, most companies want to see that you are working.
October 24th, 2009 at 1:12 pm
France allows her …
France allows her people to go to college without paying the rest of thier lives or selling their college loans for 24% interest to a finance company. The United States only cares about one thing, MONEY.
October 24th, 2009 at 1:12 pm
I see on television …
I see on television that crime doesn`t pay. No, the hard working tax payer pays. Criminals sit on their butts and watch the televisons you and I pay for. You want to see cable Television, go to prison, want to see a doctor? go to prison, want an education? go to prison. What is wrong with this picture? Why are hard working Americans doing without because of the way their hard earned tax money is spent? Canada has a health care program for her people. The United States doesn`t.
October 24th, 2009 at 1:12 pm
for many years and …
for many years and only wanted my paymens to be reduced so I could afford food. The letter also said that if I were in prison, my college education would be free. What an insult. I feel betrayed by my country. Prisoners get everything for free, free medical, free clothes, housing, food shoes, education, even free uniforms to go outside and play baseball. How unfair to working America, yet the government thinks this is fair and okay. There`s money for space programs and every other program.
October 24th, 2009 at 1:12 pm
I used to think the …
I used to think the United States was the best country in the world. I was born and grew up in it. Today I only feel very sad. I own money for college. I have no job and I have no medical coverage. I asked for help with my college payments. I got a letter saying they sold my college loans to a finance company at 24 % interest. They also said I will not receive Social Security when I retire unless all is paid. Then they said if I were in prison, I wouldn`t have to pay. I paid on my loans
October 24th, 2009 at 1:12 pm
Oh, and I forget …
Oh, and I forget three buildings on 9/11 in the middle of Manhatan do not fold down perfectly by acident. This type of thing has to be planed and it must be planed well. So my beloved americans you swalowed it all. You are some hard case idiots. Sory but on the national level this is the only explanation.
October 24th, 2009 at 1:12 pm
What can one expect …
What can one expect from a kreten nation like the nation of USA. Their presidents lie and get away with it “I did not have sex with that woman”. Their presidents defy the charter of United Nations and get away with it (Recognize republic of Kosovo, a mafia country). Their presidents wage clandestine wars and torture camps all over the world and say it is in the name of freedom. US soldiers die all over the world for the interest of few rich man, all in the name of freedom and democracy.
October 24th, 2009 at 1:12 pm
the rich people
the rich people
October 24th, 2009 at 1:12 pm
Lier-lier pants on …
Lier-lier pants on fire our tax money has been used to spent moren than 250 billion each year on Irak and Afganisthan and this year 2009 to spent more than 700 billion on the people on depth.
October 24th, 2009 at 1:12 pm
the UNITED STATES …
the UNITED STATES ECONOMY is OVER-PRICED and that is EXACTLY why it is in a RECESSION TODAY.
$150 U.S. for a barrel of oil – ha! NOTHING , absolutely NOTHING “SHOCKS” the UNITED STATES…basic BASIC shit….when you OVERPRICE an asset and it subsequently comes down to it’s FMV you are faced with “downslide” in house prices, financial assets, commodities, securities, ETC…and ladies and gentlemen, that downslide is called a “RECESSION”
so the U.S. is being “corrected” – THAT’S ALL!
October 24th, 2009 at 1:12 pm
you seem like a …
you seem like a smart person. just think how affirmative action – a government BS – probably stole your chance to a better education. and i’m a woman. i could benefit from their scholarships, but i won’t take one because i think it’s immoral. if i’ll ever get rich, i’ll make scholarships for white men only. lol
October 24th, 2009 at 1:12 pm
look it up
look it up
October 24th, 2009 at 1:12 pm
False
False
October 24th, 2009 at 1:12 pm
lol, 6 figures per …
lol, 6 figures per person or worker to pay off the debt. I don’t make that much in a year and probably never will. I made roughly over $20,000 last year and paid $293/mo in accumulated taxes. May have been under that. Can’t save or invest with Uncle Sam taking more of their fair share and I wouldn’t want to invest in a corrupt govt. that has not allowed big businesses to fail. It’s manipulation of the market. I think the U.S. Congress and the Federal system is on the road to collapse.
October 24th, 2009 at 1:12 pm
shut down the IRS …
shut down the IRS and eliminate Social Security and Medicare. The tax code has been unfair to all in this country and to add more fuel to the fire, we haven’t really come that far in terms of true progression here in the U.S. Just a lot of greed and corrpution in D.C. and I’m waiting to see how many unfair taxes get imposed on the citizens in terms of a Mileage tax and what not. The U.S. govt is not credible at this time hand has a long long way to go towards gaining that back.