The United States is heading for bankruptcy

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2-0-Sixx

2-0-Sixx

Sicc OG
#1
May 13, 2002
49,944
47,801
113
44
Seattle
www.socialistworld.net
#1
By Edmund Conway, Economics Editor
Republished from Telegraph.UK


The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank

The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country’s central bank.

A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a leading constituent of the US Federal Reserve.

Prof Kotlikoff said that, by some measures, the US is already bankrupt. “To paraphrase the Oxford English Dictionary, is the United States at the end of its resources, exhausted, stripped bare, destitute, bereft, wanting in property, or wrecked in consequence of failure to pay its creditors,” he asked.

According to his central analysis, “the US government is, indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in this context, are current and future generations to whom it has explicitly or implicitly promised future net payments of various kinds’’.

The budget deficit in the US is not massive. The Bush administration this week cut its forecasts for the fiscal shortfall this year by almost a third, saying it will come in at 2.3pc of gross domestic product. This is smaller than most European countries – including the…
-- end excerpt --

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F

Fucky McFuckerson

Sicc OG
#2
May 9, 2002
37,066
16,282
113
#2
Impossible...the Federal Reserve put the US in debt for a REASON...money isnt even worth the paper its printed on.

The only way the US would go "bankrupt"...is if the elite wanted/planned for it...they would have to be some motive by them doing so...

These elite fuckers devious...
 
I AM

I AM

Some Random Asshole
#3
Apr 25, 2002
21,002
86
48
#3
^^Why is it that we tend to agree on this shit and we're from Seattle (you, 2-0, and I)? Is there somethin in the water? You took the damn words right out of my mouth.
 
E

Eternal Designs

Sicc OG
#6
May 5, 2002
212
0
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www.kevin.motionmedia.info
#6
They are setting up the US for a massive depression. Take a look at what happened leading up to the 1929 stock market crash to see what they have planned. All the elite, super rich, and other countries with large US dollar reserves are dumping their reserves in droves. They're replacing them with silver and gold (which is why those prices are at 20-year highs, that and the increase in inflation). Both Bill Gates and Warren Buffet have dumped their investments in the dollar in the last few months.

What's gonna happen is when they want to trigger the depression the Fed will restrict the amount of dollars available and call for all loans to be paid in full. Since most people buying houses have been usuing $0 down payment high interest homes banking on appreciation to be able to pay it off and most people have less than 20% of their morgtage loans paid off, people will lose their houses and jobs and be homeless like the aftermath of '29. The bankers and elite can then swoop in and buy up all the property at super low prices. With the changes in the bancruptcy laws in the last year those unable to payback their loans will be thrown in debtors prision or forced to work off their debts in indebted servitute to the corporations.

That's why you should be focusing on paying off all your debts and putting the money you do have in gold/silver or property. Stuff that isn't tied to a fiat currency or can be bartered/traded for goods. If you have a house look into growing your own food and look into solar power or other sources of independent power to allow you to live off the grid. Look into learning a trade which will be needed.

The dollar's days are numbered. They were numbered from the start of the Federal Reserve being instituted. All fiat currencies are. You can only inflate a fiat currency a finite amount before it is worthless. The only reason the Euro is doing so good is because it is new. I believe they will let the dollar die and replace it with the N. American Union Amero.

Although every state in the US as well as the federal government is running surplusses in the billions. Which is illegal as any surpluse is required by law to be returned to the public. All taxes go to paying the criminal interest on the national debt not for anything else the gov says it is. The majority of the debt is from the last 25 years (reagan, bush, clinton, bush). At the curent rate we will never be able to pay it off.

We need to demand teh Federal Reserve be abolished and the US returned to a silver standard. Otherwise the central banks will alwys have absolute control of this contry.
 
Hutch

Hutch

Sicc OG
#7
Mar 9, 2005
1,345
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#7
I like your style Eternal

Clinton was starting to get the US back on track - instead of borrowing, he saw the low interest rates as a perfect opportunity to pay back the debt before it got too high. Bush, on the other hand, has dramatically increased spending, resulting in a vast increase in foreign debt. Instead of seeing low interest rates as a sign to pay off their pre-existing debt, Bush sees the low interest rates as an excuse to borrow MORE money.

The US just has to hope that the rest of the world doesn't decide to simultaneously dump their investments in the US dollar (especially if China is involved). If that happens, well...

As for the US federal reserve putting the US in debt for a reason - what is that reason? I put myself in debt so I could buy a laptop, but that still means I have to pay it back. If my income doesn't match my debt, then I'm fucked aren't I? The only reason why I'm not a small scale 'US' is because I have the means to quickly pay back my debt.
 
swoop187

swoop187

Sicc OG
#9
Apr 4, 2006
1,719
333
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www.myspace.com
#9
Oh Coy!Ocerto said:
Impossible...the Federal Reserve put the US in debt for a REASON...money isnt even worth the paper its printed on.

The only way the US would go "bankrupt"...is if the elite wanted/planned for it...they would have to be some motive by them doing so...

These elite fuckers devious...
Click to expand...
wow, i agree with you. You are correct, money isnt worth the paper its printed on. Thats why they are trying to dump the penny because it costs 1.5 cents to make but it is worth 1 cent.
 
FunK-3-FivE

FunK-3-FivE

Sicc OG
#12
Jun 17, 2004
849
2
0
#12
I like how most americans aren't aware of this, but everyone else is. As if it's some kind of secret everyone (including your government) is keeping from the U.S. population, haha. The most important thing is that it's already inevitable, it's a domino effect, someone takes all their money out of USD and everyone gets scared and does the same... inevitably forcing the USD to become worthless.

It's funny when americans come to the UK or anywhere in western europe thinking everything is fine and dandy because they are supposedly "rich" until they find out they can't afford anything.

The minimum wage here is £5.05 which is more or less equal to $10.00 USD, The average American male makes roughly $18/per hour while the average British male makes £12/per hour (roughly $24USD).

You're all just getting worked like slaves by your government and corporations and being fooled into thinking that you're making anything.
 
FunK-3-FivE

FunK-3-FivE

Sicc OG
#13
Jun 17, 2004
849
2
0
#13
guerrero said:
i heard about this like 3 years ago in high school they said it was bankrupt
Click to expand...
the U.S. has technically been in debt since the 19th century (or maybe even all of its existence)... but i think the main point is that the US Dollar is going
 
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