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This is only the beginning...

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  • This is only the beginning...

    I have been warning that economic calamity was just around the bend for the better part of 2 years. The mainstream media has been putting off using the "R" word until it was plain as day that our ecomony was shrinking not just locally, not just nationally, but globally.

    The credit bubble began collapsing in the housing market and has crossed over- affecting consumer spending at every level. Corporations going bankrupt are now unlikely to be able to obtain loans to restructure to continue business on a new slate... and will undoubtedly seek the Federal governments aid to stay afloat.

    After robbing Americans to the tune of about a Trillion dollars, congress is going to have to tread lightly about who they decide to give taxpayer dollars to. Household names built on decades old businesses are about to vanish. With those businesses will go thousands of jobs and unemployment will rise.

    These factors translate into higher taxes, lower wages, and rampant inflation. The really scary thing though is that I believe this was likely done by design rather than incompetence.

    How better to buy cheap, than to create circumstances where the markets will generate the price levels you would like to buy?

    Real estate, commodities, and stocks are all lower- but they arent low enough to plunder. To get these things at 'fire sale' prices, the powers that be are going to have to starve some people, throw some out on the street and flood the economy with nearly unspendable cash.

    Between 1929 and 1932 the market lost 90% of its value. Here in 2008 the market has lost about 40%- I dont expect to see the market to go to 1400, but continued losses I predict will take us to a Dow 5000- Unemployment is going to drain benefits, particularly here in California.

    As we hit bottom I would expect to see a renewed interest in pursuing the war on terror or some conflict with new or old enemies to invest our resources in, thus reducing the population of eligible breadwinners. History in effect, is destined to repeat itself.
    Enjoy Freedom? Get off your ass and do something to preserve it then.

    Calguns.net OpenCarry.org
    ronpaul2008.com
    constitutionparty.com

  • #2
    It's gettin' worse out there all the time,

    All the businesses I visited this week are suffering. One shopping center was sporting 8 empty spaces. I'm not getting any calls either.

    Another war? Maybe..... Who's going to finance it though

    Comment


    • #3
      Conflict is the engine of debt creation.

      Originally posted by fbisadmin
      It's gettin' worse out there all the time,

      All the businesses I visited this week are suffering. One shopping center was sporting 8 empty spaces. I'm not getting any calls either.

      Another war? Maybe..... Who's going to finance it though
      Poor slobs like you and me will finance the war. Millions of us. Bankers and monied interests are smart- they never pick up the tab- they help create the debt so they can profit from it.

      We pay through taxation, government borrowing, and inflation.
      • In 1862 it was the Legal Tender Act and the Internal Revenue Act.
      • In 1913 it was the Federal Reserve Act and the 16th amendment.
      • In the 1940's we borrowed in the form of War Bonds and increases in corporate and income taxes.
      • More recently the money is just created- we simply owe it... and the more we owe, the less the physical currency is worth and the higher prices seem to be. Inflation is the hidden tax- you dont need to fill out a form or even open your wallet- the value just evaporates
      .

      A loaf of bread cost me just under a dollar 18 months ago. Last January, it rose to $1.22. Today that same loaf of bread cost me $1.46- The bread didnt change. It isnt more valuable to me now than it was 18 months ago. And yet my outlay has increased 50% when my earnings have not increased proportionately. (Admittedly some of this price increase can be attributed to fuel costs- but even those are the result of speculation that drove up the price of oil, which is connected somewhat to the war on terror and our dependence on foreign oil.) If this is repeated 300 million times, the cumulative effect is causing everyone who uses Federal Reserve Notes to submit to taxation and pay for a war they may not even support.

      If it were possible to have everyone transact business without Federal Reserve Notes the system by which we finance conflict would collapse and government would have to resort to more overt extortion. Likewise, if our government did not seek out these expensive conflicts, the national debt would be considered the greatest threat to the survival of our Republic. Reducing this debt would end the the profit taking by the bankers. So, you see, this is why we must have a new war. It may be the only thing that will prevent the collapse of our 'currency'.
      Enjoy Freedom? Get off your ass and do something to preserve it then.

      Calguns.net OpenCarry.org
      ronpaul2008.com
      constitutionparty.com

      Comment

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