xcel
03-19-2009, 03:49 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Are we stepping on the accelerator pedal while heading towards the edge of the precipice? (cleanmpg.com/forums/showthread.php?p=195291)
http://www.cleanmpg.com/photos/data/500/Frontline_10_Trillion_and_Counting.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – Mar. 19, 2009
The amounts are staggering and if not stopped, will eventually erode confidence which will create a future not for the faint of heart.
A future built on debt
March 15, 2013: New York -- Black Friday took on a whole new meaning this afternoon as the Dow Jones Industrial average closed below 1,000, a level not seen in over 30-years. Stocks sold off in yet another panic driven freefall closing down 789 points or 44.2%. This was by far the largest single day point loss on a percentage basis in the history of the DJIA. The few Traders and Specialists left on the floor of the NYSE directed blame squarely at the Governments insurmountable and continuing debt build and the announcement that it had concluded its equity purchases as part of the Equity Market Stabilization Act of 2012. The direct Government equity purchase programs conclusion was hastened partially due to the Acts ineffectiveness as the DJIA fell over 2,650 points since the plans inception.
The last gasp $2.9 Trillion USD Equity purchase program and the Fed’s Open Market Treasury purchases failed to provide the confidence needed to stem US and foreign sales of US Equities. An insurmountable $7.8 Trillion in US Treasury Debt came to market from public and private entities around the world. Yields on 30-year Treasuries closed at an astonishing 53.6% leaving many at the largest Bond trading desks declaring that the "US is officially Closed” for business. With the bad news continuing to mount, equity and bond holders everywhere have seen their net worths wiped out and there is absolutely nowhere on earth to hide.
With 17 of the 30 DJIA companies now insolvent or in bankruptcy and 6 currently in the process of being delisted on the NYSE, stocks are looking even bleaker with each new dawn... Can the DJIA go to 0?
March 21, 2013: A sign that the world wide depression is worsening, unemployment figures were released today showing that 31.3 percent of the American work force is now unemployed. This is a level higher than at any point in the history of the United States. As confidence in the Governments ability to stem the US manufacturing production downturn collapses, hopelessness is consuming the nations psyche with the unemployment roles surpassing those of the Great Depression of the 1930’s on both a percentage and absolute basis...
March 25, 2013: As the new President continues to fill her cabinet posts, public unease reached a crescendo with food riots erupting in LA, Chicago, NY and Miami. The recently elected President called upon the National Guard to quell the violence in the largest inner cities as economic conditions continue to deteriorate...
April 17, 2013: The third Treasury Secretary in as many years today announced the latest installment of the Administrations “New Deal” program to support the United States 100 largest but mostly insolvent companies. The process will include nationalization while at the same time purchasing their output at 2010 levels. The recently purchased companies output of goods and services will be redistributed to the public though the recently created National Clearing Warehouse Trusts. With your just issued Government Social Tracking Card, you can purchase these goods and services at a large discount from the original face value benefitting each and every US citizen including those that need it most.
April 25, 2013: The Federal Reserve today announced that starting next Monday, a nationwide bank holiday will be unilaterally enforced while the process of nationalizing the last 27 of the US’ 400 largest Banks continues unabated...
And back to today’s reality
All of the federal government’s efforts to stem the tide in the financial meltdown that began with the subprime mortgage crisis have added hundreds of billions of dollars to our national debt. FRONTLINE reports on how this debt will constrain and challenge the new Obama administration and on the growing chorus on both sides of the aisle that without fiscal reform, the United States government may face a debt crisis of its own which makes the current financial situation pale in comparison. Through interviews with leading experts and insiders in government finance, the film investigates the causes and potential outcomes of—and possible solutions to—America’s $10 trillion debt.
FL: This time on Frontline...
We need a big stimulus package
FL: Government spending may jump start the economy...
We as a country have been living well beyond our means...
FL: But does America already owe too much?
$53 Trillion dollars
The US is on an unsustainable path...
FL: And what makes this deficit different
We have obligations which exceed the net worth of the American public
FL: $10 Trillion and counting. Watch online or on-air beginning March 24th.
http://www.cleanmpg.com/photos/data/500/Frontline_10_Trillion_and_Counting.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – Mar. 19, 2009
The amounts are staggering and if not stopped, will eventually erode confidence which will create a future not for the faint of heart.
A future built on debt
March 15, 2013: New York -- Black Friday took on a whole new meaning this afternoon as the Dow Jones Industrial average closed below 1,000, a level not seen in over 30-years. Stocks sold off in yet another panic driven freefall closing down 789 points or 44.2%. This was by far the largest single day point loss on a percentage basis in the history of the DJIA. The few Traders and Specialists left on the floor of the NYSE directed blame squarely at the Governments insurmountable and continuing debt build and the announcement that it had concluded its equity purchases as part of the Equity Market Stabilization Act of 2012. The direct Government equity purchase programs conclusion was hastened partially due to the Acts ineffectiveness as the DJIA fell over 2,650 points since the plans inception.
The last gasp $2.9 Trillion USD Equity purchase program and the Fed’s Open Market Treasury purchases failed to provide the confidence needed to stem US and foreign sales of US Equities. An insurmountable $7.8 Trillion in US Treasury Debt came to market from public and private entities around the world. Yields on 30-year Treasuries closed at an astonishing 53.6% leaving many at the largest Bond trading desks declaring that the "US is officially Closed” for business. With the bad news continuing to mount, equity and bond holders everywhere have seen their net worths wiped out and there is absolutely nowhere on earth to hide.
With 17 of the 30 DJIA companies now insolvent or in bankruptcy and 6 currently in the process of being delisted on the NYSE, stocks are looking even bleaker with each new dawn... Can the DJIA go to 0?
March 21, 2013: A sign that the world wide depression is worsening, unemployment figures were released today showing that 31.3 percent of the American work force is now unemployed. This is a level higher than at any point in the history of the United States. As confidence in the Governments ability to stem the US manufacturing production downturn collapses, hopelessness is consuming the nations psyche with the unemployment roles surpassing those of the Great Depression of the 1930’s on both a percentage and absolute basis...
March 25, 2013: As the new President continues to fill her cabinet posts, public unease reached a crescendo with food riots erupting in LA, Chicago, NY and Miami. The recently elected President called upon the National Guard to quell the violence in the largest inner cities as economic conditions continue to deteriorate...
April 17, 2013: The third Treasury Secretary in as many years today announced the latest installment of the Administrations “New Deal” program to support the United States 100 largest but mostly insolvent companies. The process will include nationalization while at the same time purchasing their output at 2010 levels. The recently purchased companies output of goods and services will be redistributed to the public though the recently created National Clearing Warehouse Trusts. With your just issued Government Social Tracking Card, you can purchase these goods and services at a large discount from the original face value benefitting each and every US citizen including those that need it most.
April 25, 2013: The Federal Reserve today announced that starting next Monday, a nationwide bank holiday will be unilaterally enforced while the process of nationalizing the last 27 of the US’ 400 largest Banks continues unabated...
And back to today’s reality
All of the federal government’s efforts to stem the tide in the financial meltdown that began with the subprime mortgage crisis have added hundreds of billions of dollars to our national debt. FRONTLINE reports on how this debt will constrain and challenge the new Obama administration and on the growing chorus on both sides of the aisle that without fiscal reform, the United States government may face a debt crisis of its own which makes the current financial situation pale in comparison. Through interviews with leading experts and insiders in government finance, the film investigates the causes and potential outcomes of—and possible solutions to—America’s $10 trillion debt.
FL: This time on Frontline...
We need a big stimulus package
FL: Government spending may jump start the economy...
We as a country have been living well beyond our means...
FL: But does America already owe too much?
$53 Trillion dollars
The US is on an unsustainable path...
FL: And what makes this deficit different
We have obligations which exceed the net worth of the American public
FL: $10 Trillion and counting. Watch online or on-air beginning March 24th.