The real crisis is that jobs offshoring by US corporations has
permanently lowered US tax revenues by shifting what would have been
consumer income, US GDP, and tax base to China, India, and other
countries where wages and the cost of living are relatively low. On the
spending side, twelve years of wars have inflated annual expenditures.
The consequence is a wide deficit gap between revenues and expenditures.
the present circumstances, the deficit is too large to be closed. The
Federal Reserve covers the deficit by printing $1,000 billion annually
with which to purchase Treasury debt and mortgage-backed financial
instruments. The use of the printing press on such a large scale
undermines the US dollar's role as reserve currency, the basis for US
power. Raising the debt limit simply allows the real crisis to continue.
More money will be printed with which to purchase more new debt issues
needed to close the gap between revenues and expenditures.
supply of dollars or dollar denominated assets in foreign hands is vast.
(The Social Security system's large surplus accumulated over a quarter
century was borrowed by the Treasury and spent. In its place are
non-marketable Treasury IOUs. Consequently, Social Security is one of
the largest creditors to the US government.)
If foreigners lose
confidence in the dollar, the drop in the dollar's exchange value would
mean high inflation and the Federal Reserve's loss of control over
interest rates. It is possible that a drop in the dollar's exchange
value could initiate hyperinflation in the US.
The real crisis is
the absence of intelligence among economists and policymakers who told
us for 20 years not to worry about the offshoring of US jobs, because we
were going to have a "New Economy" with better jobs.
tropical storm Karen is brewing over the Yucatan Channel and the
southern Gulf of Mexico, the federal government has seen fit to call
back thousands of FEMA's furloughed workers. The script-reading
corporate media noted the fact this morning:
Yes, the Obama
administration has been making a big show of taking down government
websites and blocking off the World War II Memorial, but overall
business in Washington D.C. is being conducted pretty much as usual.
turns out that the definition of "essential personnel" has expanded so
much over the years that almost everyone is considered "essential" at
this point. In fact, this shutdown is such a non-event that even
referring to it as a "partial government shutdown" would really be
overstating what is actually happening. The following are 36 facts
which prove that almost everything is still running during this
government shutdown... rand paul
"jim rogers" u.s. government
shutdown closed economy crisis usa america "united states" game "play
game" media sham debt credit default printing print money usd dollar
world history currency forex russia china chinese trading investment
investing "forex trading" buy sell "stock market" funding finance 2013
2014 spending "credit card" loan decline law global "wall street" elite
control "new world order" speech report banking bank bankers forces
obama obamacare gold bullion silver "gold bullion" "gold trading"
829speedy shadow government illuminati new world order agenda alex jones
infowars gerald celente david icke lindsey williams max kieser glenn
#2 Approximately 1,350,000 "essential" federal employees
will continue to work during this "government shutdown". #4 The U.S.
Postal Service will continue to deliver our mail. #5 U.S. military
personnel will remain on duty and will continue to get paid. #6 Social
Security recipients will continue to get their benefits.
Medicare recipients will continue to get their benefits. #9 Food stamp
recipients will continue to get their benefits. #10 Those on
unemployment will continue to get their benefits. #11 Federal retirees
will continue to get their pensions. #12 The federal school lunch
program has enough money to go through at least the end of this month.
#13 Public schools all over the country will continue to stay open.
real crisis is not the "debt ceiling crisis." The government shutdown
is merely a result of the Republicans using the debt limit ceiling to
attempt to block the implementation of Obamacare. If the shutdown
persists and becomes a problem, Obama has enough power under the various
"war on terror" rulings to declare a national emergency and raise the
debt ceiling by executive order. An executive branch that has the power
to inter citizens indefinitely and to murder them without due process of
law, can certainly set aside a ceiling on debt that jeopardizes the
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.