Coburn: Control Government Spending or Face 'Apocalyptic Pain' Much much much too late and it will get worse! It was too late in 2007 when Greenspan's gift to Bush first started rearing it's ugly head. The collapse of the middle and lower classes along with the need was no coincidence nor was the timing setting it up to come to fruition on Obama's watch! There is apocalyptic pain coming and way you look at it so I pose a question I asked before.
What happens to the world if and when the U S files for Bankruptcy?
America's Impending Master Class Dictatorship Frightening but you can not deny this reality! We are in serious trouble and as I have pointed out for years it was done on purpose and right under our unsuspecting noses! Our real debt including Debt and unfunded liabilities is $120 trillion! Wrap your mind around that!
Those who have followed me over the years know I have often talked about the lie we are living today! I just Googled an example! An Average American Patriot: So many lies today in the lie we are ...
Think about it! What is the world without America? What would happen to the entire world if we were to file for Bankruptcy? China for one would be in anarchy and go under as the country she is today and wants to be tomorrow. I find this all very disturbing because it is laid on Obama's shoulders and being credited with this mess. Unfunded liabilities, ballooning deficit, ballooning debt, it is all Chinese to most of us. One thing I do know is President Clinton ran a surplus inherited by G W Bush. He was even looking at retiring the Debt. Bush changed all that forever!
Bush Cheney Greenspan Rove Gonzales, all the enablers, do not get enough credit for what they did in allowing the moral and financial bankrupting of America. I won't bother you with another link but Michael Whitney did a great piece detailing how Greenspan set it up. Those so called men are heralded as heroes by some. You have to realize they are all benefactors of this disaster.
I always said Bush or those behind him learned their lessons well and anything they touched would be much worse than a like event in History. During the Depression when Roosevelt was trying to rebuild America we knew it happened on the Republican's watch and who to blame. They also knew and wanted to help fix it not make it worse as Republicans are doing today.
Anyway think back and you will see that everything was done on purpose and especially the timing was no coincidence. Bush and Greenspan kept the collapse off until he was out of office. People say get over it! Move on! However we will never get over it or be able to forget Bush as much as we want as his damage will affect our and the worlds lives forever. No I am not giving that bunch too much credit.
They shaped our future and the future of the whole world like it or not! Get over it, not hardly! The debt clock had to be started during Reagan's time because of his success but could only register 9 trillion. Because of Bush's so called success it had to be altered to register 10 trillion, now we are almost $14 trillion. Now the debt is moving so fast it is going virile. 3.8 trillion is our new record budget for one year. How far off can bankruptcy be especially knowing how bad it really is? Bankruptcy Questions & Answers
James m Joiner
Gardner, Ma
http://anaverageamericanpatriot.blogspot.com
13 comments:
I disagree; China might have some short-term pain, but they are on track for the long haul. They've been conducting trade agreements with South America, Africa, and Asia to the point that they have become the biggest trading partner to places like Brazil, Argentina, and South Africa.
We need them now more than they need us. Anyone could have seen it coming back when Chimpy and the Rushpubliscums put the "deferral" rule in place, but nobody seemed to care.
JR it is a mutual need. I know they are nurturing other relationships but the entire world could not replace the American market and that is a simple fact.
Jim I would have agreed with you twenty or thirty years ago but now it's a different story. China knows that they must shift their markets to survive. They had been buying Euros instead of dollars as a reserve currency the last few years. Does that tell you something?
I knew all about the Bush plan when we had two tax cuts and the wars which were unfunded. The stock market in Oct. 2007 was at 14000. So I knew helicopter Ben was shoveling money into the economy. Oops that's right they can now do it just by adding a few zeros on a computer.
Yeah it tells me they are not too smart if they lean too heavy on the Euro. The bigger concern is the Euro going down and it will bring an already failing US economy further down.
America is no longer the greatest global consumer.
Asia is.
S/Korea and Japan have more trade with China than they do with the U.S.
America will fully lose Taiwan.
TICK-TOCK
China controls 98% of the worlds rare earth metals.
These are the metals that will take us into the future.
China will pass us in 5-10-15 years.
Geithner is meeting again with his Chinese Bankers.
He will be handed his hat once more.
Multinational money left here long ago, never to return.
Most if not all American global Corps. make more revenue from over seas than they do from here.
And no.
Russia will not come to save the day. :-)
This is China/Asia's century.
And nothing can stop it but China/Asia its self.
China wants to be number one not number two to Russia or the US and if it was that easy to circumvent the US market it would be done.
This is a hell of a lot more complex than most realize. They are using the rare earth right now as a weapon but meanwhile of course the search is on to find hew sources. There has to be other sources somewhere.
http://seekingalpha.com/news-article/293112-the-mine-america-hopes-will-end-china-s-technological-stranglehold-rare-earth-metals-crucial-for-making-hi-tech-goods-race-for-alternatives-after-beijing-limited-exports
Molycorp, owner of the world's largest non-Chinese rare-earth-metals deposit, is considering doubling its planned production to help meet global demand after China cut export quotas.
The Greenwood Village-based company's board asked its management to a take a "very hard" look at raising 2012 output to 40,000 tons from 20,000 tons, chief executive Mark Smith said Monday in an interview on Bloomberg Radio.
Production will be 3,000 to 5,000 tons this year, he said.
"We will be making some presentations in the first quarter to our board of directors on the economics involved of doubling production," Smith said.
The world excluding China will require 55,000 to 60,000 tons of rare- earth metals this year, and China will export 23,000 to 24,000 tons, Smith said.
China, which accounts for more than 90 percent of global supplies, cut rare- earth export quotas by 72 percent in the second half of 2010.
Rare earths are a group of 17 metal elements used in batteries, turbines, cellphones and auto catalysts.
Figures the Japanese would create an alternative: Rare Earth Race: A Japanese Scientist Produces an Artificial Alternative
BY Jenara NerenbergMon Jan 3, 2011
China's decreasing rate of rare earth exports is forcing the world to scramble for alternative sources. Now the Japanese have artificially produced a palladium-like metal, commonly used for catalytic converters.
palladium molecule
The world--and particularly the Japanese--may be in a frenzy over China's newly announced 35% cut in rare earth exports, those used to produce many high-tech devices, in the first half of this year. But a Japanese scientist has found one answer: Create the metals artificially.
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