Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Rip the Face Off the Bears Rally! - 22nd Dec 24
STOP LOSSES - 22nd Dec 24
Fed Tests Gold Price Upleg - 22nd Dec 24
Stock Market Sentiment Speaks: Why Do We Rely On News - 22nd Dec 24
Never Buy an IPO - 22nd Dec 24
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24
Republican vs Democrat Presidents and the Stock Market - 13th Dec 24
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 24
Stock & Crypto Markets Going into December 2024 - 2nd Dec 24
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The US is at a Precipice

Economics / US Debt Mar 25, 2010 - 01:08 AM GMT

By: Submissions

Economics

Tim Gatto writes: We are at a precipice. This is the end of one era and the beginning of another. The “real” world that so many people believe in, here in America is not the world you see on your TV sets, that is the world that the government and the media want you to believe in. We are so accustomed to believing in our own American ideology that we can’t understand the ramifications of what we have done.


So many people in this country continue to believe that what we have done can’t be undone. This is the reason we have come to this point. We are not “invincible”. We are not “exceptional”. We must abide by the same financial tenants that rest of the world must obey. We cannot spend above our means. We cannot spend 1.4 Trillion dollars on the military and get nothing back. We cannot give trillions in fiat money to prop up the bankers and financiers on Wall Street.

The only ones benefiting from this spending spree America is going through are the families that own the banks that make up the Federal Reserve. Every fiat dollar that is printed, six cents ends up in the transnational banks of these families. We have mortgaged our own nation to the same people we fought the Revolutionary War against. To me, the worst President in the world was Woodrow Wilson. I hope he rots in hell. Like Obama, that man reneged on almost everything he said he stood for. He was pressured into the First World War, a war we should have stayed out of. He also let us become slaves of a Central Bank. Instead of printing our own money, we were now faced with printing money that included an automatic debt.

I believe that the only reason our government is waging these incessant wars and spending money that they don’t have is so that the rest of the countries in the world remain afraid to refuse to take dollars as payment for oil and other imports. The minute one nation refuses to accept dollars; there will be a cascade of other countries that will follow suit. That will trigger hyper-inflation and our dollar will be worthless. No more cheap imported oil. No more cheap electronics. No more spending on infrastructure. We won’t have a pot to piss in.

Undoubtedly the United States will launch a major war. Even they can’t understand that the petroleum to run the war machine has to be paid for. Ask the Japanese in WW2 how that worked out for them. We will be thrown into the same circumstances that the Soviet Union faced in the last great super-power meltdown. The break-up of the United States will be a huge probability. If you think that the families that own the Federal Reserve are going to bail us out, think again. They have seen empires come and go. No, they won’t back us up, they’ll just buy everything in this country in a huge fire sale with the money they made by putting us in debt.

This recent fiasco concerning health insurance really made me understand that most Americans have no idea what is really important. The minuscule amount of money compared to the defense budget and the bail-outs is not the important issue here. The selling out of our nation by Congress and the Executive Branch is the real problem. Giving away our nation’s treasure to financial insiders that produce nothing but debt and supporting military adventures that produce no lasting results is what is killing this nation. We can’t continue to go trillions of dollars in debt every year and continue to enjoy the standard of living that we enjoy in America. That day is coming to a close. Get used to it.

The other problem this nation faces is the timidity of the “Left”. It seems that the so-called left in this country can’t seem to get involved enough to speak out. Where are all the people that protested the Iraq War? Where is the outrage on this war for an oil pipeline in Afghanistan? The Taliban don’t want to attack the United States, they just want the “foreigners” out of their country. Afghanistan is funny like that; look at what they did to Alexander “The Great”. Let me tell Olbermann and Maddow and all the Daily Koster’s that Obama is not your friend. Supporting this so-called “progressive” is like the old socialists that supported Hitler. Hitler called himself a “socialist” but he was a Nazi. Obama may call himself a “Progressive” but he is a fascist. Most of our politicians are. Our government is in collusion with corporations that will ride this gravy train to the very end. Let the left stay quiet and when the toilet flushes on the United States, they can take it up with the tea-baggers or some other right wing coalition.

All I can say is that we had better start treating what is happening to this country with all the seriousness that we can muster. We don’t have much time; in fact, we may already be out of time. I am loath to write what I’m writing, but a friend reminded me that we must all continue to speak out. There is no place to hide. Maybe there are some of you out there that are listening.

Tim Gatto's new book Complicity to Contempt is available at Amazon, Barnes and Noble, Abe's and other fine bookstores now. Kimchee Days, A novel about an anti-aircraft Battery (reminiscent of M*A*S*H and CATCH-22) in Korea during the years 19690-1971 will be out soon.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in