Sunday, January 23, 2011

The Coming Financial Collapse of the US

The Coming Financial Collapse of the US

by Ian Mosley

The most prestigious financial publication on earth, the Financial Times of London, is predicting the financial collapse of the United States if we don’t get our finances in order, assuming the clinically insane Democrats and the Republicans, who only control the House at this time, can get together and solve all our problems. In other words: Buy lots of canned food, guns and ammo now.

The Financial Times reports: “It was the most startling of warnings. If the US does not get its finances in order ‘we will have a European situation on our hands, and possibly worse’, claimed Paul Ryan, the new Republican chairman of the House of Representatives budget committee. The consequences of not tackling the country’s mounting debt burden would be dire, he last week told an audience of leading budget experts and economists at a gathering in Washington. ‘We will have the riots in the streets, we will have the defaults, we will have all of those ugliness problems,’ he said, referring to ‘French kids lobbing Molotov cocktails at cars, burning down schools because the retirement age will be moved from 60 to 62.’ As it stands today, the US borrows about 40 cents of every dollar it spends. The risks are big. If the government rushes into austerity, cutting too much and too quickly, it could stunt economic recovery.”

What kind of credit rating would you have if you borrowed 40 percent of every dollar you spent –and you tried to do that year after year?

The US could have saved its economy if it listened to Ross Perot and killed off NAFTA and GATT. Instead, we went down the road to outsourcing while letting more and more illiterate needy immigrants with 80 point IQs invade the US. There is no guarantee that America will remain a superpower forever. The more we fill up our nation with Third World people, the more we transition into a hybrid status somewhere between the prosperity of a White nation and the poverty of a Third World nation.

Our plunge to poverty is being further accelerated by liberal hand out programs that give Third World people public education, Section 8 housing, food stamps, free emergency room health care and Affirmative Action jobs –kicking out competent White people so that much less competent Blacks and Latinos can have good-paying jobs that they don’t deserve.

We literally can no longer afford to subsidize a First World lifestyle for the gigantic Black and Latino population in the US today. The Affirmative Action program is further introducing staggering incompetence into both government and private corporations.

The Financial Times goes on “But if the political system cannot forge some kind of consensus on steps to restore US deficits to sustainable levels, the danger is potentially even greater: a sovereign debt crisis in the world’s largest economy.”

The US needs to cut the spending and live within its means. The Democrats absolutely refuse to do this, because they have to buy the votes, that keep them in power, from the unions and the minorities. So they insist on borrowing.

The problem is that when you keep on borrowing and borrowing, eventually you reach a point where no one is willing to lend you any more money. The only way to increase the money in circulation (so Obama can borrow it) is to have the Jewish-controlled Federal Reserve print more and more money, thus increasing the money supply and creating inflation.

If you want to know what happens next, look up the history of Weimar Germany and/or Zimbabwe.

The collapse of the US will start with the financial bankruptcy of the states. California, Illinois and New York will likely be the first states to go bankrupt and this could happen a lot sooner than most people think. Once the Blacks quit getting their welfare checks and evicted from their Section 8 apartments, don’t expect things to stay peaceful.

Gerald Celente has been predicting financial chaos and riots for some time, and he was one of the few to see the subprime mortgage disaster coming. Canned food and ammunition will soon be more important than stocks and bonds.

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