Usa Dept Clock

[Sweper]

I wonder if Mr. Obama has this as his desk top or screen saver?

http://www.usdebtclock.org/

[Tribunus]

It is very scary.

The U.S. Government uses accounting practices that would get the Corporate Officers of a normal business thrown in prison.

The debt that the U.S. Government will admit to is over 14 Trillion dollars. Then there is Social Security, Medicare, Medicaid and a host of other debt. However, the U.S. Government does not count that debt toward the National Debt, because they don’t categorize it as a debt. They call it a Unfunded Obligation. You can call it whatever you wish, but at the end of the day it is still a debt. And if you add everything up it is indeed over 55 Trillion dollars.

So we have a real dilemma. It’s impossible to raise taxes enough to eliminate a 55 Trillion dollar debt in a dozen lifetimes. The only solution is to cut spending.

For over 60 years, politicians from both parties have been giving their various constituencies handouts of one form of another, which they blissfully call “Entitlements”. But they have never made an effort to pay for them via higher taxes. Now all of those entitlements are threatened with coming to an end. The end can come in a controlled manner by making cuts using the legislative process. Or the end can come suddenly and abruptly, when the Chinese and Saudis tell us that they are not only NOT going to loan us any more money, and that they now want to be paid back all of the money that they have already loaned us.

Either way it’s going to be a painful and nasty situation.

Which is why BadAim and I, like so many Americans are so heavily armed.

[BadAim]

I think I need more guns.

[JensenPark]

I think I need more guns.

Is that even possible?

[Perfesser]

For all of us, rampant inflation is going to be a fact of life. One person said "if we're lucky, our food bill this year will only double".

Anything you can buy now will probably be the cheapest you'll ever get it.

Buy 3 cans of beans instead of just the one you need. Buy 3 of anything that will keep instead of the one you were going to.

Anything you grow will be damn near free.

The old victory garden will come back in a big way. Start small if you must but start now, there is much to be learned.

[Streak]

I think I need more guns.

Is that even possible?

Ummmm.........YES!

[DD_Arthur]

It is very scary.

The end can come in a controlled manner by making cuts using the legislative process. Or the end can come suddenly and abruptly, when the Chinese and Saudis tell us that they are not only NOT going to loan us any more money, and that they now want to be paid back all of the money that they have already loaned us.

Either way it’s going to be a painful and nasty situation.

Which is why BadAim and I, like so many Americans are so heavily armed.

It's started;

Auntie Beeb says

[T_O_A_D]

The world's largest army... America's hunters!

A blogger added up the deer license sales in just a handful of states and arrived at a striking conclusion:

There were over 600,000 hunters this season in the state of Wisconsin.

Allow me to restate that number..

Over the last several months, Wisconsin's hunters became the eighth largest army in the world.

More men under arms than in Iran.

More than in France and Germany combined.

These men deployed to the woods of a single American state to hunt with firearms, and no one was killed.

That number pales in comparison to the 750,000 who hunted the woods of Pennsylvania and Michigan's 700,000 hunters, all of whom have now returned home.

Toss in a quarter million hunters in West Virginia and it literally establishes the fact that

the hunters of those four states alone would comprise the largest army in the world.

(4 states = 2.3 million hunters)

The point?

America will forever be safe from foreign invasion with that kind of home-grown firepower.

Hunting -- it's not just a way to fill the freezer. It's a matter of national security.

*************************************************

That's why all enemies, foreign and domestic, want to see us disarmed.

Food for thought when next we consider gun control.

So even with our non-fully automatic weapons, the numbers of us in total, with even single shots would over whelm any invasion number with today's technology and logistics sent our way.

That's why they have resided on terrorist efforts, to try and under mind our moral, and economy.

This also why we put out the effort to try and control the worlds Nuclear capabilities. Because that only is our only massive threat in the wrong hands.

I still say we spend some of the borrowed money to tap into our own reserves, and for a time till our debt is payed off, charge the same as were used to now, and take the profit and put it directly to the debt. And police this to a point of death if caught trying to cheat the system to your own favor or friends.

[Perfesser]

For a time till the debt is paid off?

Lets assume that The Gov stops ALL spending. Lets assume that they throw 100 million per DAY at the debt. At that rate do you know how long it will take to pay off the debt at current interest rates??

Over 300 years.

If you want to have that in terms we can all relate to

Your income is $50K per year.

Your mortgage payments are $75K per year.

How long can that go on? As long as you can keep getting another loan to cover the shortfall.

Understand that the interest alone on the debt is now EQUAL to the largest portion of the budget - military spending at 600 billion. Just the interest, no principal at all.

By 2020 interest alone will be 800 billion.

http://www.profitconfidential.com/stock-market-advice/debt-gone-mad/

They will seize all or part of your 401K as a "loan" and they'll give you fixed income bonds in return. Your money will no longer be yours.

Stop contributing now. Put it somewhere safer.

[T_O_A_D]

Yeh, I understand that, alot more has to happen to make it work, and nothing will clear it up in our life time.

Maybey, our great grand kids possibly.

Short a complete collapse and hostile take over, which none of us want for sure.

[Perfesser]

The way they'll make this work is to devalue the dollar till they have enough to pay it off. ie make the dollar 1/10th what it is so they can print 10 times the amount.

Sounds a lot like "quantitative easing" doesn't it?

Protect yourself from that. Have stuff, not dollars. All "stuff" will go up in price.

Start with what you need most - you have to eat 3 times every day so that is a good start. Storing food that will keep, most important for your long term plans is a place to grow some food that won't store well.

Clothes, tires, shoes etc will never be cheaper than right now.

Badaim probably has enough guns already but more ammo is a good idea......

For a year investors have been leaving financial areas and going to commodities - stuff. That and natural shortages have been driving prices way up. Food has pretty much doubled.

Gold has been fairly flat(up 25%), silver has tripled- gone from $15 to $45 in the last two years- may be ready for a correction of sorts. It will be a short one so if you're ready you could do well there.

Gold will go to $2000 soon and is a good place to shift your paper money. This is not to make money, it's to preserve the value of your current wealth as your dollars loose their purchasing power.

Any old silver coins, pre-64 dimes and quarters, are now worth 10 times face value. A dime is a dollar, 4 quarters= $10.

I suggest you start to learn and be ready. A good place is the http://www.thesurvivalpodcast.com/ . I suggest starting with April 14's Episode-643- Modern Financial Survival.

Do what you can now to lessen the impact of what is about to happen to us all.