Tuesday, Apr 29, 2008
a social and economic nightmare that will make the last depression look like a stroll in the park.
debtism.com: Getting Ready for Hard Times
WARNING FROM 2006
The USA is leading the “Global Economy” toward the biggest economic catastrophe ever recorded. Depreciating fiat dollars and legal and accounting defects in US tax and welfare laws are the root cause of the inevitable calamity. There appears to be a growing public awareness that the American Dream is slowly evolving into an American Nightmare. Voices that sound alarms of the impending peril are woefully muted or publicly ignored.
author, John T Koraska, MSgt, USAF, Retired, age 70.
While in the service (1954 – 1974), the author was a Communications Intelligence Analyst/Reporter. Although paid by the USAF, most operational duties were under the direction of the National Security Agency (NSA).
high quality reference material
6 Comments
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1. malct said...
The unsustainable debt induced by fiat money orchestrated by the Federal Reserve Banks fractional reserve banking system and the insatiable appetites of politicians to spend now and borrow from the future is leading this country into a social and economic nightmare that will make the last depression look like a stroll in the park.
Interest at an assumed 5% rate on the inestimable tens of trillions of statutory federal debt combined with shortfalls of un-funded entitlement debt is more than double the US governments 2006 2.6 Trillion-Dollar budget. If the government cannot pay its bills in the 5th year of an economic recovery with employment levels at all time highs, how can the government IOUs be redeemed in the future under less favorable conditions?
2. Justablink said...
A-ha! Someone has finally discovered my father's writing on the economic hard times in the US. The dollar is falling, and it was predicted by my father several years ago.
For further updates and developments, it is a must read to check out his latest works at uspublicpolicy.com http://www.uspublicpolicy.com
Cliff Koraska
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. malct said...
this is more than a little bit odd!
justablink, sorry Cliff, assuming you are genuine, and I've no reason to suppose otherwise,
do you share my surprise that anyone should be so enraged by this post as
to be driven to make a comment that was in breach of policy?
what's going on here?
5. malct said...
Ok Cliff, I'm hooked, please tell me about your father and your interest in HPC.co.uk
6. John Koraska said...
August 1, 2009
Led by the US, the global economy sputters along stimulated by $trillions in new money and unredeemable debt. The seeds for an inflationary spiral have now been firmly planted by self-serving politicians and bureaucratic functionaries in government, transnational corporations and the Federal Reserve led banking system.
While business is reporting unexpected profits by cutting payrolls, the equity markets have begun to rebound from the nadir of the precipice of the pseudo depression. As free money and virtually free debt works its way throughout the global economy, employment in the private sector continues to deteriorate.
This jobless recovery is likely to be short lived because it is based on phony money, nonredeemable debt and irrational expectations of a viable economy. There is no free lunch! Adding millions of new beneficiaries to the Medicare and Medicaid government sponsored health care system will only expedite the day of reckoning.
There are practical reforms that could alter the course from perpetual debt to perpetual prosperity; but that will not happen. Real reforms are not acceptable because politicians who fashioned this impending economic and social nightmare continue to focus on the societal parasites and have-nots who spend beyond their means and receive subsidized health care, food and housing. Victims of the government largesse (those in the private sector who actually work and pay taxes) are compelled to fend for themselves against tidal waves of government interference.
Grass roots, class-action lawsuits filed in state and federal courts that may compel the US government to repeal unconstitutional mandates is the last resort for freedom loving people. And that will not happen until the abyss has already been breached.
Good luck to all,
John Koraska aka SargeK