6.22.2010

ANOTHER GREAT PIECE AT LEW ROCKWELL


Most Americans know that the U.S. economy is in bad shape, but what most Americans don't know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a "downturn" or a "recession". What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen. Our greed and our debt are literally eating our economy alive. Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era. We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world. A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious.

But the truth is that you cannot defy the financial laws of the universe forever. What goes up must come down. The borrower is the servant of the lender. Cutting corners always catches up with you in the end.
Sometimes it takes cold, hard numbers for many of us to fully realize the situation that we are facing.
So, the following are 50 very revealing statistics about the U.S. economy that are almost too crazy to believe....
TO FIND THE 50 AND READ THEM ...GO HERE

7 comments:

bluepitbull said...

Ah yes, but why are jobs of any class going overseas? Personal greed on the part of the retailer, the consumer, and the manufacturer. I'm not opposed to the accumulation of wealth in the least. I am opposed to people living so far beyond their means that we are told we have to bail them out whether we want to or not.

Stop extending credit to people who can't afford it, stop the spending. Not everyone needs a flat screen and a Mercedes. Nor does everyone need to eat kobe beef (cough obama cough).

chupacabra said...

God, we're our own worst enemies.

Christopher said...

All one has to do is look at the EU and it's disintegration country by country to know what is headed our way, but knowing it and stopping it are two completely different things.

LandShark 5150 said...

Bully - you said it, noy
thing wrong with greed, but when it works hand in hand with a distructive governmental power, wer' all screwed. A government can't make us all happy and wealthy but it can make us all equal in poverty and dispair.

Chupy - say it, I know it's at the tip of your tongue.

Christopher - there is only one way to slay the beast and that is to remove the head. I am starting to think maybe we (the people) are getting tired of being burnt in the ass.

Ramblings From a Young American said...

How many times have we heard that "Greece can't happen here!" I couldn't agree more with what you've said, because the reality is that Greece has already happened here.

A government has spent too much, too fast. It is now sowing what it has reaped. Our country and our individual checkbooks are now realizing just how impossible it is to avoid personal responsibility. Responsibility and duty, no matter how much we believe "this time, it'll be different" those two factors have a way of catching up to us.

Keep on writing!

JihadGene said...

Loved the blower!

AnObiter said...

That's "f'in'" [clean, schmean...lol] hilarious!!! Hot air, 24/7....