Dr. Weiss's Secrets & Warnings about the economy -- psst: there's a lot of debt

Originally posted at The Desk of Brian, www.deskofbrian.com: http://sites.google.com/site/thedeskofbrian/state-of-the-nation/drweissssecretswarningsabouttheeconomy--pssttheresalotofdebt

Dr. Martin Weiss published these 11 staggering facts that
every American needs to know — and that every investor won't be able to
succeed without ...

11 startling facts that Obama and Bernanke do
NOT want you to think about

FACT #1:

The official national debt now stands at $12.68 trillion — an amount equal
to about 88.5% of all the goods and services our economy produces in an
entire year.
FACT #2:
Contingent obligations for Social Security, Medicare, Medicaid,
veterans, and pensions now stand at an additional $108 trillion over
and above the "official" national debt.
FACT #3:
State, county and local governments are nearly $3 trillion in debt.
Many can't pay and will ultimately demand that Washington assume
responsibility for that debt as well.
FACT #4:
Total federal, state and local government indebtedness now stands at a
mind-blowing $123.6 trillion.
FACT #5:
Last year, Washington added $1.4 trillion to the debt. In this fiscal year,
the Obama administration will add another $1.6 trillion!
FACT #6:
In addition to funding the current trillion-dollar-plus deficits, the U.S.
Treasury must borrow MORE each year to replace bills, notes and bonds that are maturing.
FACT #7:
This record-shattering borrowing by the Treasury has resulted in a Mt.
Everest of Treasury obligations being dumped onto the market, which
naturally depresses bond prices and drives interest rates higher.
FACT #8:
In adesperate attempt to keep interest rates low, the Bernanke Federal
Reserve has created $1.25 trillion out of thin air to buy
mortgage-backed securities ... another $300 billion to buy U.S.
Treasuries ... and yet another $170.6 billion to buy other government
bonds — a total of nearly $1.7 trillion in all.
FACT #9:
From September 10, 2008 to March 10 of this year, Bernanke increased
the nation's monetary base from $850 billion to $2.1 trillion — a 250%
increase in just 18 months.
FACT #10:
Despite this massive money-printing, the yield on the benchmark 10-year
Treasury note has STILL risen by more than one-fifth — from 3.2% to
3.86% — since December.

FACT #11:
Because of this massive money-printing, the U.S. dollar has lost nearly
10% of its value in the past 12 months alone.
The President and the Treasury Department have colluded with the Fed to create economic slavery for our country. On the surface, Democrats present that they are for the "little man" when in fact, they have driven a biggest wedge between the "Haves" and "Have Nots".

More and more people with suffer when the debt reality unravels, leaving multitudes destitute and dependent on government entitlement programs.

As the Chief of Staff, Rahm Emanuel said: "No crisis should be wasted" so this explosion of poverty, broke retirees, overwhelmed nursing homes, and bankrupt State budgets will allow the Federal government to grab (and hold) more power.

Are you preparing for this economic disaster? Do you even understand what any of this means or do you still have your head in the sand, believing the propaganda that "the economy is recovering", "can't happen in America" or the biggest lie: "The Republicans still have time to fix this."















http://www.uncommonwisdomdaily.com/11-startling-facts-that-obama-and-bernanke-do-not-want-you-to-think-about-4-9117

New Contract for America?

I've never been a big fan of Laura Ingraham, but I'm not thoroughly familiar with her program. A recent "Google search" (can't I just use google as a verb?) revealed an interesting post on her website called the "Top for '10: Winning Washington by Empowering Americans"

From her site:

1) Taxpayers' Bill of Rights (TABOR). Limit federal spending growth to the percentage in population growth plus the rate of inflation; provide taxpayers the option of filing a post-card sized return using a low, flat tax rate of 15%

2) End Tax-funded abortions. Stop federal payments to Planned Parenthood and prohibit any taxpayer-subsidized health insurance plan from covering abortion

3) Defend American Borders. Complete America's border-protection initiatives using remaining funds from the so-called stimulus bill

4) King Dollar. Preserve a strong dollar so that Americans' savings aren't wiped out by inflation and the U.S. dollar remains the world's reserve currency

5) Empower American Business. Immediately slash corporate tax rates to 15% and scrap the capital-gains tax altogether

6) Defend America. Strengthen America to defend our homeland and fully fund an operational, layered missile-defense system

7) Statism Exit Plan. De-fund czars; immediately cease bailout payments to failed companies; ban future bailouts

8) End Generational Theft. As few believe America's entitlement programs will be able to pay benefits to future generations, provide younger workers the choice of diverting payroll/Social Security taxes into personal retirement accounts

9) Restore America's System of Justice. Introduce penalties for frivolous lawsuits, where those who launch unsuccessful lawsuits are liable for the defendants' legal bills

10) American Energy Independence. All-of-the-Above strategy that embraces alternatives, expands and accelerates exploration and production of oil and natural gas, and jumpstarts dramatic increases in nuclear power




Some interesting stakes are presented. I'd like comment and amend a few things:

1. Balance the budget: My apologies to the Congress and/or White House, but enough is enough. We really need to start running a surplus to pull ourselves out from under this national debt, but the first mandate would be: net budget of zero. No one borrowing, no more printing.

We cannot prolong the pain.

2. Federal Funded Abortions: Planned Parenthood is corrupted by individuals preventing prosecution of statutory rapists. There are WAY TOO MANY folks NOT in favor of abortions to even consider this program. This would be a major polarizing topic for the voting public. I'm the first to say that politically, abortion is way down the to-do list after a mountain of economic goals.

3. Shut the border down! Countries are defined by our language, culture and borders. In addition to national security issues, the economic impact of the 12-15 million illegal immigrants is too big to ignore.

4. Reversing the crashing dollar: I would need some help here, but let's start by supporting Ron Paul and ENDING THE FED and turning OFF the printing press.

5. Business Investment: Ms. Ingraham is spot on with this one. Can I add reducing or eliminating the death tax as well.

6. Defend America: Well, let's defund the UN, ship their headquarters overseas (I hear Switzerland is nice year round), reduce our senseless troop occupation all over the globe and then we can move forward.

7. Statism Exit Plan. Czars, bailouts, corporate takeovers, firing CEOs, government stock ownership in banks -- all comes to end IMMEDIATELY!

8. Entitlement Programs: Every program is bankrupt. Medicare, Medicaid, Social Security, even the Post Office -- it's time to stop pretending all of this works.

9. Read Above -- all I'll say is YES! YES and YES!

10. Drill NOW! Go get the oil, go get the natural gas, go build nuclear power plants. Stop pretending the global warming is a state of emergency to reshape society.

This doesn't make me a Laura Ingraham reader or supporter, but I start to get the sense that more people are saying and thinking the right things. Keeping this honest, preventing corruption and pet projects -- well, that's an entirely different challenge.