The American Apocalypse - An Interesting View.

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The American Apocalypse - An Interesting View.


Unread post by ghulam muhammed » Sat Jul 23, 2011 7:30 pm


A Very Good Presentation:- ... &e=4517101

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Unread post by anajmi » Sat Jul 23, 2011 10:25 pm

Although I agree with the American Apocalypse scenario, I am wary of anyone who is trying to sell anything at the end of the message for the same dollar that is going to be worthless.

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Unread post by ghulam muhammed » Tue Jul 26, 2011 6:33 pm

The Looting Of America: The Federal Reserve Made $16 Trillion In Secret Loans To Their Bankster Friends And The Media Is Ignoring The Eye-Popping Corruption That Has Been Uncovered

These loans only went to the "too big to fail" banks and to foreign financial institutions. Not a penny of these loans went to small banks or to ordinary Americans. Not only did the banksters get trillions in nearly interest-free loans, but the Fed actually paid them over 600 million dollars to help run the emergency lending program. The GAO investigation revealed some absolutely stunning conflicts of interest, and yet the mainstream media does not even seem interested. Solid evidence of the looting of America has been put right in front of us, and yet hardly anyone wants to talk about it.

Many Americans have a hard time grasping just how large 16.1 trillion dollars is. It is an amount of money that is almost inconceivable. It is more than the GDP of the United States for an entire year. It is more than the U.S. government has spent over the last four years combined.

The Federal Reserve was just creating gigantic piles of cash out of thin air and throwing them around with wild abandon.

So precisely who got this money?

Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion. Morgan Stanley came in second with $2.04 trillion, followed by Merill Lynch at $1.9 trillion and Bank of America at $1.3 trillion.

So who in the world gave the Federal Reserve permission to bail out financial institutions all over the world?

Nobody did.

But under our current system the Federal Reserve doesn't have to get permission. They literally get to do whatever they want.

The Federal Reserve is run like a dictatorship. They get to do what they want and nobody can stop them.

This is a classic case of the foxes watching the hen house.

It was the banksters that caused the financial crisis. They were the only ones that the Federal Reserve helped. In fact, the Federal Reserve ended up having the banksters basically run the entire emergency lending program

Most Americans do not realize that the Federal Reserve is not actually part of the federal government. It is a privately-owned central bank that is not accountable to anyone.

But most Americans still believe that the Fed is a government agency.

The truth is that the Federal Reserve is about as "federal" as Federal Express is. ... -uncovered

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Unread post by ghulam muhammed » Fri Jul 29, 2011 4:27 pm

Economist Says Real US Debt is $200 Trillion

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60% of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion – 840% of current GDP. “Let’s get real,” Prof. Kotlikoff says. “The U.S. is bankrupt.”

“The U.S. fiscal gap is huge,” the IMF asserted in a June report. “Closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14% of U.S. GDP.” This sum is equal to all current U.S. federal taxes combined. “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.

Prof. Kotlikoff uses “fiscal gap,” not the accumulation of deficits, to define public debt. The fiscal gap is the difference between a government’s projected revenue (expressed in today’s dollar value) and its projected spending (also expressed in today’s dollar value). By this measure, the United States is in worse shape than Greece.

Prof. Kotlikoff is a noted economist. He is a research associate at the U.S. National Bureau of Economic Research. He is a former senior economist with then-president Ronald Reagan’s Council of Economic Advisers. He has served as a consultant with governments around the world. He is the author (or co-author) of 14 books: Jimmy Stewart Is Dead (2010), his most recent book, explains his recommendations for reform. ... -trillion/

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Unread post by ghulam muhammed » Mon Aug 08, 2011 6:10 pm

Perry Leads Prayer Rally for ‘Nation in Crisis’

HOUSTON — Standing on a stage surrounded by thousands of fellow Christians on Saturday morning, Gov. Rick Perry of Texas called on Jesus to bless and guide the nation’s military and political leaders and “those who cannot see the light in the midst of all the darkness.”

“Lord, you are the source of every good thing,” Mr. Perry said, as he bowed his head, closed his eyes and leaned into a microphone at Reliant Stadium here. “You are our only hope, and we stand before you today in awe of your power and in gratitude for your blessings, and humility for our sins. Father, our heart breaks for America. We see discord at home. We see fear in the marketplace. We see anger in the halls of government, and as a nation we have forgotten who made us, who protects us, who blesses us, and for that we cry out for your forgiveness.”

In a 13-minute address, Mr. Perry read several passages from the Bible during a prayer rally he sponsored. Thousands of people stood or kneeled in the aisles or on the concrete floor in front of the stage, some wiping away tears and some shouting, “Amen!”

At one point, Mr. Perry asked those in the audience to pray for President Obama. “Father, we pray for our president, that you impart your wisdom upon him, that you would guard his family,” he said. ... yfernandez

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Unread post by ghulam muhammed » Wed Aug 10, 2011 5:40 pm

The Decade of Lost Children.

One of the greatest casualties of the great recession may well be a decade of lost children.

According to “The State of America’s Children 2011,” a report issued last month by the Children’s Defense Fund the impact of the recession on children’s well-being has been catastrophic.

Here is just a handful of the findings:

• The number of children living in poverty has increased by four million since 2000, and the number of children who fell into poverty between 2008 and 2009 was the largest single-year increase ever recorded.

• The number of homeless children in public schools increased 41 percent between the 2006-7 and 2008-9 school years.

• In 2009, an average of 15.6 million children received food stamps monthly, a 65 percent increase over 10 years.

• A majority of children in all racial groups and 79 percent or more of black and Hispanic children in public schools cannot read or do math at grade level in the fourth, eighth or 12th grades.

• The annual cost of center-based child care for a 4-year-old is more than the annual in-state tuition at a public four-year college in 33 states and the District of Columbia.

Grim data, indeed. And there is no sign that things will get better anytime soon.

We risk the creation of an engorged generational underclass born of a culture that has less income equality and fewer prospects for mobility than the previous generation.

It’s hard to see how we emerge from this downturn and its tumult a stronger nation if we allow vast swatches of our children to be lost. My fear is that we may not. ... dren-2011/

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Unread post by ghulam muhammed » Sat Aug 20, 2011 6:12 pm

The More Americans That Go On Food Stamps The More Money JP Morgan Makes

JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money. In the video posted below, JP Morgan executive Christopher Paton admits that this is "a very important business to JP Morgan" and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan's profits in this area have soared. But doesn't this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible? ... rgan-makes

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Unread post by ghulam muhammed » Sun Aug 21, 2011 6:42 pm

NEW YORK: Reflecting the uncertain economic conditions in the world's largest economy, as many as eight US banks on an average are going out of business every month. A whopping 64 American banks have closed down so far this year, translating into an average of eight closures every month, according to official data.

This month alone has seen the shutting down of three banks, after 13 entities went belly up in July.

The Federal Deposit Insurance Corporation (FDIC), which insures deposits of around 8,000 American banks, said three entities - The First National Bank of Olathe, Bank of Whitman and Bank of Shorewood - were closed down in August.

Closure of these three banks would cost the Federal agency as much as USD 277 million.

The US, which was recently stripped of its coveted 'AAA' rating by S&P, has been grappling with banking sector woes since the financial meltdown in 2008.

A staggering 157 banks failed last year, which is the highest in two decades.
Last year saw the highest number of US banks biting the dust since 1992, when the savings and loan crisis had pushed a whopping 179 entities out of business.

The count of bank collapses in 2010, was much higher than 140 failures witnessed in 2009.

Persistently high unemployment levels coupled with sluggish economic recovery are hurting the businesses of small and medium American banks, especially with rising defaults.

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Unread post by ghulam muhammed » Sat Aug 27, 2011 3:56 pm

Is it the End of the American Century?

China is sitting on a mountain of money, whilst the US is sitting on a mountain of debt exceeding $14 trillion and 100% of its GDP. The Chinese are the largest foreign holder of the US federal debt with $1.2 trillion in treasuries, and in addition approximately two-thirds of $3.2 trillion in foreign exchange reserves is estimated to be in dollars. It’s rational to expect the poor to get into debt, but not the rich, and certainly not the largest economy in the world. After the historic down grading of the US government's credit rating by Standard & Poor, China as the leading creditor raised concern, demanded that the US should "cure its addiction to debts" and "learn to live within its means".

This is a strange paradox; China as a socialist nation has become wealthy using the Capitalist free market model, whereas the leading capitalist nation has gone into severe debt, as if they were managed by some inefficient communist regime. It is even more ironic that the capitalist US is in debt to socialist China.

Economic strength is paramount for any nation, least of all a superpower. The rise of any nation is partly indicated by its economic success; with increasing economic wealth it builds up its reserve, some of that translates to enhancing military capabilities. However, economic and military strength is not sufficient to take long term leadership. For example, the Mongols led by Genghis Khan, came and conquered, then more or less died with his demise; whereas an empire like Rome, built on ideas and principles with a system in place, lasted for centuries. Hence, ideological conviction based on a philosophy, coupled with flourishing cultural values is another essential factor for maintaining leadership.

Moreover, the fundamental problem of US debt is much more due to political factors than economics; many are blaming the recent wrangling over raising the US debt ceiling as an example of that. Another example is the knee-jerk response to 9/11, causing the debt to grow. The US launched two full scale invasions of Afghanistan and Iraq, costing billions. It was Al-Qaeda’s strategy to get the US dragged into a Vietnam like quagmire, and drain its resources. Just compare the figures for launching a cruise missile and firing some light armoured weapon, the difference is huge. In some sense Al-Qaeda has succeeded, as the US capitulation in the Middle East has started, but this may be temporary. The American century may be receding, but it has certainly not vanished from the radar. ... .html#more

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Unread post by ghulam muhammed » Wed Sep 07, 2011 5:19 pm

The American Taxpayer suing itself

The lastest news is that Fannie and Freddie are suing 17 major banks over mortgage deals gone bad. This is the latest in a string of lawsuits where essentially the US Taxpayer is suing himself – the only beneficiaries are the lawyers. AIG is suing Bank of America over mortgage bonds. The NY Fed sued Bank of America over mortgage bonds. BofA is a main target because it acquired Countrywide which was the largest pure player in the mortgage market. The housing and mortgage debacle is so complex and entangled that Wells Fargo was even suing itself.

What is lost in all of this is all these entities mentioned above are part of the government or whose existence depends on the government. We should stop pretending these are independent entities with separate shareholder bases, though in some cases this is technically true – both BofA and AIG would not exist in present form with a huge assist from the American taxpayer -at one point as a result of the federal bailout of AIG, the government owned 80% of AIG. Despite this AIG kept spending millions on lobbyists to lobby the federal government, its 80% owner. Even Fannie and Freddie stopped their lobbying activities when the government formally took them over.

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Unread post by ghulam muhammed » Sat Sep 24, 2011 4:39 pm

One in Five New York City Residents Living in Poverty

Poverty grew nationwide last year, but the increase was even greater in New York City, the Census Bureau will report on Thursday, suggesting that New York was being particularly hard hit by the aftermath of the recession. ... &emc=tha29

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Unread post by ghulam muhammed » Thu Oct 06, 2011 4:30 pm

The Unthinkable Is Poised to Happen, Economist Warns

The Aftershock Survival Summit is a gripping, no-nonsense presentation that’s quickly becoming a financial beacon in an economic tsunami.

Featuring an exclusive interview with famed economist and best-selling author Robert Wiedemer, this disturbing presentation exposes harsh economic truths along with a dire financial warning — a prophetic message that’s spreading across America like wildfire.

But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention. ... /id/407695

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Unread post by ghulam muhammed » Thu Dec 01, 2011 6:16 pm

If you want to understand why the Occupy movement has found such traction, it helps to listen to a former banker like James Theckston. He fully acknowledges that he and other bankers are mostly responsible for the country’s housing mess.

As a regional vice president for Chase Home Finance in southern Florida, Theckston shoveled money at home borrowers. In 2007, his team wrote $2 billion in mortgages, he says. Sometimes those were “no documentation” mortgages.

“On the application, you don’t put down a job; you don’t show income; you don’t show assets,” he said. “But you still got a nod.”

“If you had some old bag lady walking down the street and she had a decent credit score, she got a loan,” he added.

“The bigwigs of the corporations knew this, but they figured we’re going to make billions out of it, so who cares? The government is going to bail us out. And the problem loans will be out of here, maybe even overseas.”

It turns out that the Fed provided an astonishing sum to keep banks afloat — $7.8 trillion, equivalent to more than $25,000 per American. The article estimated that banks earned up to $13 billion in profits by relending that money to businesses and consumers at higher rates. ... emc=tha212

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Unread post by seeker110 » Thu Dec 01, 2011 10:51 pm

Br.GM I like your net surfing ways.Articles you point out are worth reading.You have balanced thoughts.

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Unread post by ghulam muhammed » Fri Dec 02, 2011 3:43 pm

seeker110 wrote:Br.GM I like your net surfing ways.Articles you point out are worth reading.You have balanced thoughts.
Thanks a lot bro.

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Unread post by ghulam muhammed » Sun Dec 04, 2011 3:24 pm

Sen. Blanche Lincoln, one of the chief architects of the financial-regulation overhaul nearing completion in Congress, is pushing for a change that would benefit a bank in her home state of Arkansas.

The bank, Arvest Bank Group Inc., of Bentonville, Ark., is predominantly owned by the Walton family, of Wal-Mart Stores Inc. fame, perhaps the most influential family in the state and one of the richest in the U.S.

Arvest officials and the Walton family declined to comment. The company is the largest of 96 bank holding companies in Arkansas and has more than 200 branches in four states.

Senate Democrats then proposed allowing banks with less than $10 billion in assets to continue to count existing trust-preferred securities toward capital. What Sen. Lincoln is doing now is pushing to raise that threshold to $15 billion.

This would include Arvest among banks "grandfathered." Arvest, with $11.3 billion in assets, is the only bank-holding company in Arkansas with more than $10 billion in assets, and thus the only one that would benefit form such a change.

Arvest's chairman, chief executive and president is Jim Walton, one of the four children of the late Wal-Mart founder Sam Walton. From 1992 through the first quarter of 2010, Wal-Mart employees and the company's political-action committee have been among Ms. Lincoln's most generous supporters, giving her $85,700, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign finance. The Waltons have owned Arvest for decades.

This isn't the first time a lawmaker has pushed for changes that would help a home-state company. Sen. Ben Nelson (D., Neb.) inserted a derivatives-related provision into the Senate bill that had been pushed by Nebraska-based Berkshire Hathaway Inc. The change could have saved the company several billion dollars, according to analysts. It was removed after the lawmaker's involvement was disclosed in The Wall Street Journal. ... S=Arkansas

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Unread post by ghulam muhammed » Sun Dec 11, 2011 5:39 pm

Americans leaving US in record numbers

Ever dream of leaving it all behind and heading out of America? You’re not the only one. A new study shows that more US citizens than ever before are living outside of the country.

According to statistics from the US State Department, around 6.4 million Americans are either working or studying overseas, which Gallup says is the largest number ever for such statistic.

The polling organization came across the number after conducting surveys in 135 outside nations and the information behind the numbers reveal that this isn’t exactly a longtime coming either — numbers have skyrocketed only in recent years. In the 24 months before polling began, the number of Americans between the ages of 25 and 34 living abroad managed to surge from barely 1 percent to over 5.1 percent. For those under the age span wishing to move overseas, the percentage has jumped in the same amount of time from 15 percent to 40.

"There's a feeling among more entrepreneurial Americans that if you really want to get anything done, you have to get out of country and away from the depressing atmosphere," Bob Adams of America Wave tells Reuters. “There's a sense of lost direction, so more people are looking for locations that offer more hope about the future."

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Unread post by ghulam muhammed » Mon Dec 26, 2011 5:38 pm

Time magazine's Top 25 people responsible for the meltdown (14 out of 25 people are Jews and Jews only make 2.4% of American population)

1) Alan Greenspan - JEW
2) Robert Rubin - JEW
3) Bill Clinton
3) Barney Frank - JEW
3) Angelo Mozilo
4) David Loeb - JEW
5) Alan Fishman - JEW
6) Jimmy Cayne
7) Alan Schwartz - JEW
8) Dick Fuld - JEW
9) George W Bush
9) Hank Paulson - JEW
10) Ben Bernanke - JEW
11) Christopher Dodd
12) Christopher Cox
13) Raymond W. McDaniel
14) Kathleen Corbet
15) Herb and Marion Sandler - JEW
16) Michael Strauss- JEW
17) Daniel Mudd
18) Richard Syron - JEW
19) Jerry L. Starkey
20) Jeffrey T. Mezger
21) Stuart Miller
22) Kevork S. Hovnanian
23) Maurice R. Greenberg - JEW
24) Phil Graham
25) Robert Genader - JEW

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Unread post by ghulam muhammed » Sun Jan 01, 2012 7:59 pm

New Asian Union Means The Fall Of The Dollar

To put it simply; China knew ahead of schedule that the U.S. was no longer going to be a viable customer, and reliance on such a country would spell disaster. They have been preparing to break away from America’s consumer markets and the dollar for some time. In 2009 and 2010, it became absolutely clear that China (with the help of global corporate entities) was developing the skeleton of a new system; a trade network that had the capacity to supplant the U.S. and end the dollar’s world reserve status.

Two major announcements in 2011 have solidified my belief that a complete dump of the dollar by eastern interests is near…

Japan has indeed entered into an agreement to drop the dollar in currency exchange with China and has expressed interest in melting into ASEAN. Japan has also struck somewhat similar though slightly more limited deals with India, South Korea, Indonesia, and the Philippines almost simultaneously.

This means that the two largest foreign holders of U.S. debt and Greenbacks will soon be in a position to tap into an export market far more profitable than that of America, and that all of this trade will be facilitated by currencies OTHER THAN THE DOLLAR. It means the end of the dollar as the world reserve and probably the end of the dollar as we know it.

ASEAN could, certainly, drop the dollar immediately after their central bank apparatus is put in place, resulting in a much more volatile trade war atmosphere (also useful for full global centralization later down the road). The point is, we are truly at a place in our economic life when ANYTHING is possible. ... l-dollar-0

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Unread post by ghulam muhammed » Tue Jan 03, 2012 4:21 pm

Child Poverty In America Is Absolutely EXPLODING - 16 Shocking Statistics That Will Break Your Heart

If the U.S. economy is improving, then why is child poverty in America absolutely exploding? If we are experiencing "economic growth", then why are more than half of all children in major U.S. cities like Cleveland and Detroit living in poverty? If we are the "greatest economy on earth", then why are one out of every four American children on food stamps?

The shocking statistics that you are about to read below should absolutely break your heart. Tonight, millions of precious American children will go to bed without any dinner. Tonight, millions of American children will shiver as they try to go to sleep because their families cannot afford any heat. How bad does child poverty have to get before we all finally admit that our economic system is completely failing many of the most vulnerable members of our society?

If you want someone to blame, you can blame Congress, the Obama administration, the Bush administration and the corrupt Wall Street bankers. But most of all, blame the Federal Reserve and the debt-based monetary system that the Fed administers. Our economy is in the midst of a long-term decline and is slowly but surely dying. Many of those that are suffering the most from this decline are children.

Sadly, most Americans are so brainwashed by the mainstream media that they are not going to believe you the first time that you tell them about all the statistics that point to a coming economic collapse.

Many of them are going to have to be hammered with articles like this time and time again until they finally get it.

America is in a massive amount of trouble, and because of the economic mistakes that we have made millions of children are going to needlessly suffer. ... your-heart

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Unread post by ghulam muhammed » Tue May 22, 2012 6:58 pm

Thomas Jefferson

This is amazing. There are two parts. Be sure to read the 2nd part

Thomas Jefferson was a very remarkable man who started learning very early in life and never stopped.

At 5, began studying under his cousin's tutor.

At 9, studied Latin, Greek and French.

At 14, studied classical literature and additional languages.

At 16, entered the College of William and Mary.

At 19, studied Law for 5 years starting under George Wythe.

At 23, started his own law practice.

At 25, was elected to the Virginia House of Burgesses.

At 31, wrote the widely circulated "Summary View of the Rights of British America ” and retired from his law practice.

At 32, was a Delegate to the Second Continental Congress.

At 33, wrote the Declaration of Independence ..

At 33, took three years to revise Virginia 's legal code and wrote a Public Education bill and a statute for Religious Freedom.

At 36, was elected the second Governor of Virginia , succeeding Patrick Henry.

At 40, served in Congress for two years.

At 41, was the American minister to France , and negotiated commercial treaties with European nations along with Ben Franklin and John Adams.

At 46, served as the first Secretary of State under George Washington.

At 53, served as Vice President and was elected president of the American Philosophical Society.

At 55, drafted the Kentucky Resolutions, and became the active head of Republican Party.

At 57, was elected the third president of the United States ..

At 60, obtained the Louisiana Purchase , doubling the nation's size.

At 61, was elected to a second term as President.

At 65, retired to Monticello ..

At 80, helped President Monroe shape the Monroe Doctrine.

At 81, almost single-handedly created the University of Virginia , and served as its first president.

At 83, died on the 50th anniversary of the Signing of the Declaration of Independence, along with John Adams

Thomas Jefferson knew because he himself studied the previous failed attempts at government. He understood actual history, the nature of God, his laws and the nature of man. That happens to be way more than what most understand today. Jefferson really knew his stuff. A voice from the past to lead us in the future:

John F. Kennedy held a dinner in the white House for a group of the brightest minds in the nation at that time. He made this statement: "This is perhaps the assembly of the most intelligence ever to gather at one time in the White House with the exception of when Thomas Jefferson dined alone."

"When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe ." -- Thomas Jefferson

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."

-- Thomas Jefferson

"It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world."

-- Thomas Jefferson

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." -- Thomas Jefferson

"My reading of history convinces me that most bad government results from too much government." -- Thomas Jefferson

"No free man shall ever be debarred the use of arms." -- Thomas Jefferson

"The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government."

-- Thomas Jefferson

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson

"To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical."

-- Thomas Jefferson

Thomas Jefferson said in 1802:

"I believe that banking institutions are more dangerous to our liberties than standing armies.

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered."

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Unread post by ghulam muhammed » Mon Jun 11, 2012 6:05 pm

Bankrupt America only standing cause of petrol-dollar "Record Number Of US Households On Foodstamps"

Last month, when the USDA released the latest foodstamps numbers for the month of February, there was some hope that following a third month of declines, we may just have seen the peak of US foodstamp usage and going forward we would only see the number decline. Sadly, the latest numbers refutes this: in March a total of 46,405,204 persons were at or below poverty level and thus eligible for foodstamps, a 79K increase in the month. Yet while many individuals have learned to game the system, and this numbers at the peak may fluctuate, when it comes to the far more comprehensive and difficult to fudge “households on foodstamps” number, there was no confusion: at 22,257,647, the number of US households receiving the “SNAP treatment” rose to an all time high, even as the benefit per household dropped to the second lowest ever.

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Unread post by ghulam muhammed » Fri Jul 20, 2012 4:48 pm

Walmart Heirs Worth Same Amount As Bottom 40 Percent Of Americans In 2010: Analysis

The six heirs to the Walmart fortune are worth as much as nearly half of all American households.

The Walton family was worth $89.5 billion in 2010, the same as the bottom 41.5 percent of U.S. families combined, according to Josh Bivens of the Economic Policy Institute. That's 48.8 million American households in total.

Between 2007 and 2010, their net worth rose, while the incomes of most Americans declined, explaining the three-year shift, Bivens notes.

While Walmart heirs are some of the wealthiest people in the world -- two of them are among the top five world’s richest women, according to Wealth X -- many of the employees that work with the company likely fall among that bottom 40 percent of American earners.

The discrepancy between the Waltons’ wealth and that of the rest of the country may be huge, but it's just one example of the prevalence of income inequality in America. The top one percent of American earners saw their incomes spike 275 percent between 1979 and 2007, while the bottom one-fifth of Americans saw their wealth grow by only 20 percent during the same period, according to the Congressional Budget Office. In addition, the top 10 percent of U.S. earners control two-thirds of the country’s wealth. ... lp00000003

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Unread post by ghulam muhammed » Tue Dec 04, 2012 5:54 pm

The Fiscal Cliff: Absolutely everything you could possibly need to know, in one FAQ

Washington is engaged in an all-consuming debate about how to resolve the “fiscal cliff” — which we like to call, for reasons that will soon be explained, “the austerity crisis.” But what is that and why does it matter? We at Wonkblog put together a FAQ to sort it out. And we’ll keep updating this FAQ as the debate rages on.

What is the fiscal cliff?

The fiscal cliff is an inapt metaphor for the looming consequences of some very bad congressional decisions.

On or around Jan. 1, about $500 billion in tax increases and $200 billion in spending cuts (see table 1) are scheduled to take effect. That’s equal to about four percent of GDP, which is, according to the Congressional Budget Office, more than enough to throw us into a recession

The Bush tax cuts, if they’re extended, are likely to be extended at least for the next decade, which means their cost will be 10 times higher than what’s on the menu, actually it’ll be even more than that because of inflation and economic growth.

Analysts expect that the austerity crisis will weaken the economic recovery and quite possibly plunge the United States back into a recession.

The Tax Policy Center estimates that if we go over the fiscal cliff, the average American will see their tax bill rise by $3,446 in 2013.

Even if the tax hikes and spending cuts kick in, Congress would still need to vote to lift the $16.4 trillion debt ceiling by February or so. Otherwise, the United States government would no longer be able borrow money to fund its obligations. That could be trouble. ... n-one-faq/

ghulam muhammed
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Unread post by ghulam muhammed » Tue Jan 01, 2013 4:49 pm

Fiscal Cliff put in a much better perspective.

Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50

ghulam muhammed
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Joined: Tue Oct 07, 2008 5:34 pm


Unread post by ghulam muhammed » Mon Jan 07, 2013 5:40 pm

ghulam muhammed wrote:Fiscal Cliff put in a much better perspective.Lesson # 1:* U.S. Tax revenue: $2,170,000,000,000* Fed budget: $3,820,000,000,000* New debt: $ 1,650,000,000,000* National debt: $14,271,000,000,000* Recent budget cuts: $ 38,500,000,000Let's now remove 8 zeros and pretend it's a household budget:* Annual family income: $21,700* Money the family spent: $38,200* New debt on the credit card: $16,500* Outstanding balance on the credit card: $142,710* Total budget cuts so far: $38.50
Here's another way to look at the Debt Ceiling:

Let's say, you come home from work and find there has been a sewer backup in your neighborhood.... and your home has sewage all the way up to your ceilings.

What do you think you should do ......

Raise the ceilings, or remove the shit?

That is US debt. And, yet, US keeps printing paper currency and the world keeps hogging it.

ghulam muhammed
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Unread post by ghulam muhammed » Wed Jan 09, 2013 6:14 pm

The US government paid out a record high on food stamps for FY 2012.

The US government has spent a record USD 80.4 billion on food stamps, the Supplemental Nutrition Assistance Program (SNAP) that helps Americans who cannot afford to buy food.

According to the US Department of the Treasury, the federal government has paid out USD 80,401,000,000 for food stamps during fiscal year (FY) of 2012 (from October 1, 2011 to September 30, 2012), increasing the amount by USD 2.7 billion from previous year.

Since President Barack Obama took office, the amount paid out by the SNAP has increased yearly. In FY 2009, it was reported to be at USD 55.6 billion, meaning the amount has increased by USD 24.8 billion during the past three years until 2012.

Food stamps are government vouchers, restricting eligible consumers to buy only food at grocery stores and no hot meals.

The number of Americans using food stamps hit a record high in September of 2012 when 47.7 million received help from the SNAP.

Most often, the Americans living on food stamps live on about USD 4 a day to eat. That is a dollar and forty cents for each meal.

Official figures from September 2012 showed that more than 46 million Americans, 15 percent of the US population, are living in poverty, making it the highest rate during the past 40 years. ... of-804-bn/

ghulam muhammed
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Unread post by ghulam muhammed » Wed Jan 09, 2013 6:28 pm

US 'seriously' considering $1 trillion coin to pay off debt

The US is "seriously" considering creating a $1 trillion platinum coin to write down part of its debt to stop the world's largest economy defaulting as early as next month, according to financial analyst Cullen Roche.

A legal loophole means the US Treasury is able to mint a platinum coin and assign any value to it.

In theory the US Treasury would mint the coin and deposit it into its own account at the Federal Reserve, which would allow the government to write down or cancel $1 trillion of its $16.4 trillion debt pile.

Mr Roche said the idea was an "accounting gimmick", but noted it was just "one really silly idea [being used] to fight another silly idea".

"The idea of the US willingly defaulting on debt is beyond crazy," he said.

"We started kicking the idea around a year ago and it was really a joke and the fact it’s become something sort of serious, well it’s a sad state of affairs that it’s become so dysfunctional in Congress that this is something we’re having to resort to."

"This is all a gimmick — but since the debt ceiling itself is crazy, allowing Congress to tell the president to spend money then tell him that he can’t raise the money he’s supposed to spend, there’s a pretty good case for using whatever gimmicks come to hand," he said.

There are limits on how much paper money the US can circulate and rules that govern coinage on gold, silver, and copper.

But, the Treasury has broad discretion on coins made from platinum, and in theory, it is allowed to mint a platinum coin and assign any value to it.

However, it is worth noting that this was intended to issue commemorative coins and not as a fiscal measure, Mr Krugman said. ... -debt.html

ghulam muhammed
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Unread post by ghulam muhammed » Mon Jan 21, 2013 4:11 pm

Let’s put some of these “ENTITLEMENTS” on the table and call them what they are and put a cap on them.

Salary of retired US Presidents .............$180,000 FOR LIFE
Salary of House/Senate .......................$174,000 FOR LIFE This is stupid

Salary of Speaker of the House .............$223,500 FOR LIFE! This is really stupid
Salary of Majority/Minority Leader ...... $193,400 FOR LIFE! Ditto last line

Average Salary of a teacher ............... $40,065
Average Salary of Soldier DEPLOYED IN AFGHANISTAN .......$38,000

Think about this.
Nancy Pelosi will retire as a Congress Person at $174,000 Dollars a year for LIFE.
She has retired as SPEAKER at $223,500 a year.
PLUS she will receive an additional $193,400 a year as Minority Leader.
That’s $803,700 Dollars a year for LIFE including FREE medical which is not available to US...the taxpayers?

She is just one of the hundreds of Senators and Congress that float in and out every year!
I think we found where the cuts should be made!