Are You “Living In a Death Spiral”? These 6 States Will Collapse During the Next Recession
Speaking of debt slavery… “Does your state have more takers than makers?” Keep in mind that if the Lefties on the Federal Reserve board really want to screw over God-Emperor Trump all they’ll have to do is raise the prime interest rate back up to the "normal” level of 5% . Like it was back in August 2008 before the October sub-prime home loan debt crash. Currently it’s 3.25%. At 5% just paying the interest on the nearly 20 trillion dollars of national debt each and every year will wipe out the entire digressionary portion of the U.S. Federal Government’s budget. The mandatory portion (Social Security, Medicare, Medicaid, pensions and over such entitlements) will remain and will have to be paid by law. But paying the interest on the debt would take priority over any other expenditures, including the defense budget. Senator Ron Johnson (R-WI) appears to be the only lawmaker who has warned the voters about this. The Fed lowered the prime interest rate precipitously to help prop up the economy for the duration of the Obama Administration. Now the Fed has less of a political incentive to keep the interest rate artificially low. As the SHTF blog notes in this article, there are a quite a few state and city governments that are even further underwater than even the federal government. What will happen to them when the next recession hits? Since the U.S. economy never really recovered from the 2008-2009 recession the next one will hit like a semi. Those state and city governments that are already deeply in arrears will suddenly have no revenue coming in and no cash flow to cover any of their bills AND they will be completely unable to burrow any more money to meet their financial obligations of the moment. The federal government will likely be unable to bail out these states, presuming it wanted to. What’s YOUR contingency plan for the day when the EBT cards don’t pay out and there is no money to pay the police, the firemen and the EMTs? The time to move to a more stable area will be BEFORE the crisis hits; after the fact it might not be possible. If moving isn’t an option for you now then you’ll need to prepare to shelter in place. Any plans and preparations you make now, no matter how meager, could make a world of difference when the evil day comes.
NASA Scientist Says Earth Is Due for ‘Extinction-Level’ Event
Man plans and God laughs…Of course Dr. Nuth is absolutely right, a large asteroid or comet could hit the earth at any time and there is little to nothing we humans could do to prevent it. We’d just have to suck it up and deal as best we could. If we could. Especially since the USA doesn’t have much of a space exploration program anymore. If the USA doesn’t lead the way in space it’s unlikely any other country will be willing or able to. So relax, if the next “dinosaur killer" lands near you chances are you’ll never know what hit you. In the mean time read “Lucifer’s Hammer”(1977) by Jerry Pournelle, and “Off on a Comet” (1877) by Jules Verne, for some classic escapist science-fiction on the subject.
Fed lifts rates, sees faster pace of hikes in Trump's first year
It begins…
Starving Venezuelans Rummage Through Garbage for Rotting Food
Starving Venezuelans Rummage Through Garbage For Rotting Food
Posted on December 13, 2016 by Anonymous Conservative
Socialism is wonderful:
A chunk of that interest is paid right back to the US Government, either as intra-fund payments to the Social Security and Medicare Trust Funds, Profits from the Federal Reserve, or taxes on the domestic debt holders.
The really ugly problem caused by the low rates is that the Pension Funds, particularly the more poorly run City ones, can't get good returns on the money and are rapidly going broke. The Chicago Police pension fund will be empty, in the best case, in 10 years, probably 6 or less.
So the Fed is dammed if it does or does not.