Collapse of U.S. Economy Imminent

In its attempt to establish a world empire dominating every nation on the planet, the U.S. has exhausted its ability to finance the expansion and the country now faces imminent financial collapse. From all indications, it looks like 2006 will spell the end for America.

http://www.lookingglassnews.org/viewstory.php?storyid=4619
Go point through point of the above article. And there is confirmation for some of these points.

USA is running out of cash. This sounds like an exaggerated warning, however, strange things seem to be occurring.
From AFP, US government warns it's running out of cash
http://news.yahoo.com/s/afp/20051230/ts_afp/uspoliticseconomy

I would love to know if the point that bank employees are getting new training on what to say to customers in the event of an economic collapse is true. If that is true..it doesn't look good for the economy.

Are FEMA camps start to ramp up their activity, if so, it could mean they expect some social unrest in the future.

What Bush and his NWO masters are doing may be some kind of planned collapse of the US economy???? Transforming the US economy into a third world status overnight. I dunno, but strange things may be afoot.

and watch Fox News Channel - the economy is BOOMING!!!!

if things stay on course. I don't want to be pessimistic, but I'm thinking WWIII as the Wests struggle to obtain Oil/Energy supplies escalates given all the news about peaking Oil (e.g. Reports about Kuwait’s reserves).

http://www.washingtonpost.com/wp-dyn/content/article/2005/05/17/AR2005051701238.html

While Washington plunged into a procedural fight over a pair of judicial nominees, Stuart Butler, head of domestic policy at the conservative Heritage Foundation, and Isabel Sawhill, director of the left-leaning Brookings Institution's economic studies program, sat down with Comptroller General David M. Walker to bemoan what they jointly called the budget "nightmare."

There were no cameras, not a single microphone, and no evidence of a lawmaker or Bush administration official in the room -- just some hungry congressional staffers and boxes of sandwiches from Corner Bakery. But what the three spoke about will have greater consequences than the current fuss over filibusters and Tom DeLay's travel.

With startling unanimity, they agreed that without some combination of big tax increases and major cuts in Medicare, Social Security and most other spending, the country will fall victim to the huge debt and soaring interest rates that collapsed Argentina's economy and caused riots in its streets a few years ago.

"The only thing the United States is able to do a little after 2040 is pay interest on massive and growing federal debt," Walker said. "The model blows up in the mid-2040s. What does that mean? Argentina."

This is the single most easily reduced budget item.

Nobody will stand up and say, "We can't afford the Defense budget." But this is the plain truth.

When the defense budget is $25 billion, then let's talk about the horrible horrible "entitlements".

We are a country sandwiched between Mexico and Canada. Hardly, the most dangerous place on earth, yet we expend 50% of the world's defense budget.

I can't wait for the US to collapse. We deferred the truth all my life and I am sick of it.

Terrorists, Pessimists
Dog ate my spreadsheet ??? ??

$100,000,000, you own the bank.

China will bail us out.

the idiots that I know voted for Bush congratulating them on their patriotism.

and I'll still call them all idiots with no real grounds to stand on. As if 6 years (if Clinton had actually done anything negative at all...which he did not) wasn't enough to fix things.

They can always lift the debt ceiling. Nobody wants to take the political punch during an election year. They'll do it, albeit reluctantly. They'll say they're raising the ceiling so the TROOPS don't get hurt.

Ultimately, foreign purchases of treasuries determines how long we can go on. Once the foreign investors stop buying US currency assets, interest rates will jump and the cost of borrowing will become unmanageable.

at the FEMA camps. Just asking.

demise of the US economic 'empire', since it has followed the same path as Spain, the Netherlands, and Great Britain, in allowing the overconcentration of wealth, which leads to economic collapses.

Wealth and Democracy
http://www.wealthanddemocracy.com/


Shifting Fortunes:
The Perils of the Growing American Wealth Gap
http://www.faireconomy.org/press/archive/1999/shifting_fortunes_report.html#overview

'You can have great wealth or a democracy, but you cannot have both'--Louis Brandeis

the u.s. has an ARTIFICIAL "debt ceiling" that congress authorizes the treasury to borrow up to. it's a credit limit on the federal credit card.

every so often, especially when you're running deficits, the government needs to exceeed the statutory limit. all sorts of bad things would happen IF AND ONLY IF the debt ceiling was NOT raised, so the treasury secretary has to cry panic in order to get the debt ceiling raised.

the debt ceiling ALWAYS gets raised whenever this happens, and the treasury then borrows the extra money it needs and there's NO IMMINENT PROBLEM.

true, the debt continues to pile up, but by and large this is a LONG TERM PROBLEM, not a short-term, holy shit we're running out of money problem. i think this is the third time i've had to correct this BASIC misunderstanding of federal financing.

with long term interest rates under 5%, the market is NOT telling us that the u.s. is in imminent danger. as i said, we have a long term problem, but not a short term one, other than the statutory limit which is easily and routinely solved with the stroke of a pen.

Origin of lookingglass article is unreliable