← Autodidact Archive · Original Dissent · Faust
Thread ID: 12378 | Posts: 8 | Started: 2004-02-17
2004-02-17 13:54 | User Profile
How Much Time Is Left?
by Dennis Wheeler
This is the first time I am making any rough prediction as to how much time is left before a financial calamity occurs that could bring down the U.S. government and spark severe civil unrest in the country. This is just a rough estimate and it is just a speculation. Things may change as we move forward, but I doubt it.
It took 27 months for Washington to wrack up its last $1 trillion in debt. That is an average of $37 billion in new debt per month over the past 27 months. But during the past 12 months, the debt has grown by $596 billion. And that is an average of just shy of $50 billion per month.
If debt keeps being added at that pace, then it will take 20 more months to run up another trillion in debt. But the situation keeps deteriorating and over the past three months the rate has been down to 18 months.. So I will predict that Washington will run up another one trillion dollars in debt in the next 17 months. That will take us to June 2005.
I don't know the future, of course, but let's suppose that one trillion dollars in new debt is added over 17 months, then 11 months, then six months, then three months, then chaos. That would give the present system about 38 more months. So we're looking at March 2007 for a financial calamity unless something takes place to stop it.
A Nation of Slaves
I want you to be prepared for what's coming. The dollar is dropping hard and gold is rising systematically. The government of the United States has embarked on a hyperinflation of its currency to stave off economic collapse and the financial indicators are responding accordingly.
Now there is one indicator that is not responding properly - interest rates are not rising yet to any substantial degree. Here's why: China, Japan, and other countries, to a lesser degree, are buying U.S. debt at a massive rate, consciously holding down U.S. interest rates so that our economy won't collapse and the American consumer can and will continue to buy their manufactured goods.
The implication of this is clear: the economic well-being of the United States exists at the pleasure of China, Japan, and others. In essence, we are their slaves and vassals and they are using us to enrich themselves.
This is a far different picture than Americans have of themselves, especially the neocon vision of total U.S. global domination. But this is much closer to the truth than anything the government or Fox News will tell you.
This period of exceedingly low interest rates cannot last. They must rise at some point and with so much debt now to be serviced, it will become impossible. The government in Washington will be completely bankrupt and civil strife like not seen here since the Civil War will ensue.
The United States is not using this aberrational period of lower interest rates to get its financial house in order. No, it is using the time to wrack up even more debt, in greater amounts than ever before in the history of the world. No wonder the U.S. dollar fell more than 20% against even the Canadian dollar last year.
The euro is at an all-time high above $1.25. There are no breaks on this runaway train.
I hope you'll buy some gold and silver for your own protection. You're going to need it. And I hope you'll keep this paper handy as a reference guide. I'll keep updating the story for you as we move forward.
The thing to keep your eye on is how long it takes Washington to run up its next trillion dollars of debt.
Let me end with two quotes by Republican senators, made in December 2003, that show there is beginning to be some cognizance of the problem in Washington.
Senator Chuck Hagel (R:NE): "I gave my first speech on the Senate floor in February 1997 in support of the balanced-budget amendment. Republicans used to believe in balanced budgets. Republicans used to believe in fiscal responsibility, limited international entanglements, and limited government. We have lost our way. We have come loose from our moorings. The Medicare reform bill is a good example of our lack of direction, purpose, and responsibility. If we don't get some control over this out-of-control spending and policy-for-the-moment decision-making, we will put America on a course that we may not be able to recover from."
And Senator John McCain (R:AZ): "Any economist will say that you cannot have this level of debt and increasing deficits without eventually it affecting interest rates and inflation. Those are the greatest enemies of middle-income Americans and retired Americans."
McCain went on to say: "Congress is now spending money like a drunken sailor and I've never known a sailor, drunk or sober, with the imagination that this Congress has."
[url]http://senac.com/forums/14700/bin/29.html[/url]
2004-02-17 19:54 | User Profile
Wheeler is always good. His date may be far too optimistic.
He ticks off the current trends to get a Jackpot Date (March 2007) when it all falls down. But look down a couple paragraphs and he admits that Japan and other countries are buying US debt to create a false sense of security while Americans continue to buy their stuff. That means we've already gone jackpot and the foreign bond holders can pull the rug anytime.
In other words I guess we should hope the situation stays the same for another 3 years. And that's the optimistic forecast!
2004-02-17 20:52 | User Profile
I would think the time is closer than March '07. The war in Iraq is dragging us down faster than many give credit for, while the Chinese continue to kick ass in their manufacturing output and US currency leverage, leaving the US ripe for coup d'etat and outright revolution even before the November elections if the interest rates rise just a little bit. The US is bleeding jobs, leaving 40-50 year old blue collars with nothing but Walmart or Home Depot to find work...if they're lucky Salvador Sanchez doesn't undercut him and work for $5/hr. I don't feel this abominable state of our Union will last 3 more years. Our next president will be wearing a military uniform and martial law will be our new reality.
2004-02-17 21:37 | User Profile
In Yggdrasilââ¬â¢s latest market commentary he is betting on $60 dollar oil.
ââ¬ÅMost likely, the asians will stop buying U.S. debt once oil rises above $60 per barrelââ¬Â¦Ã¢â¬Â
[url]http://home.ddc.net/ygg/inv/weekly.htm[/url]
I doubt it. The oil price is too manipulatable, I doubt we will see $45 dollar oil. It will be the jobs that make things go pop. The giant job crisis is being dragged out because people are spending down their savings, re-financing their houses, and spending that money down, and paying bills with credit cards, while they engage in the hopeless job search. Eventually all this will go dry everywhere. Itââ¬â¢s showing big-time already, but my instincts are that when it goes down for real it will happen almost without warning. I have no idea how soon.
Enkidu
2004-02-17 21:49 | User Profile
I read a story about people who stopped their job search after realizing they weren't getting anywhere. Some of them had spent all of their retirement money and all savings. Some did take blue-collar jobs. They said that the drop in unemployment means only that many have stopped looking. Also, there would be an increase in the official unemployment statistics should the economy get better, as those people would enter the job market.
2004-02-18 02:05 | User Profile
If the JewSA undergoes a widespread economic and civil collapse, that will cause a lot of suffering. While I don't like to see people suffer, a social upheaval in this country might present an unparalleled opportunity for the White race to carve out a large niche somewhere in current US territory. If Whites don't begin preparation to take advantage of that opportunity, then we're screwed.
There are certain questions that need to be answered ahead of time. The following are my own thoughts on these matters. I strongly suggest that others chime in as well; we need to start talking about these issues ASAFP.
(1) Where would the new White nation be located? I suggest avoiding the mistake the Israeli kikes made when establishing their ethnostate. Terrorism only begets more terrorism, and most Whites are naturally opposed to gratuitous violence. A minimum amount of violence and coercion should be used. We're Whites, not Jews. We must be capable of defending ourselves, but we should not abuse any power we obtain.
(2) What basic form of government is desired? My suggestion here is a constitutional republic of the sort the USA was founded upon, with the major exception that citizenship must be for Whites ONLY. Also, there should be strict penalties prescribed for leaders of the new state who knowingly attempt to undermine the new constitution. The lack of such penalties is what led to the decline of the US.
(3) What freedoms must be guaranteed for all citizens? I think the founders of the US did a pretty good job here, although they were too vague in their wording. I say that freedom of speech (except harassment and genuine threats), freedom of religion, freedom to own direct-fire military weapons, private property, self-ownership, a reasonable level of privacy, and the like. Such freedoms, once enshrined in the new constitution, must not even be open to question or vote. Otherwise, good luck getting anyone to agree to become a citizen of your police state.
(4) What responsibilities must be assumed by all citizens? Participation in national defense seems like the most important of these, at least for all able-bodied males. The right to bear arms would tie in nicely with the concept of a citizens' militia. A certain amount of taxation would also be required, but it would not pay for anything other than those benefits common to all. A flat tax, based on a fixed percentage of one's income, would be best. I would also be in favor of a social safety net, but only for those who are genuinely unable to work due to illness or disability.
Any thoughts, folks? Remember: The more outrageous the plan, the fewer people are likely to accept it.
2004-02-18 05:01 | User Profile
What do you mean by calamity. Total collapse of banks so if you own money it won't matter? Time to pay off debt or time to borrow with fixed rates?
If total calamity coming do you think thats why so much immigration lately? They saw it coming and want us to be to busy fighting each so they have time to bail??
[QUOTE=Faust]How Much Time Is Left?
by Dennis Wheeler
This is the first time I am making any rough prediction as to how much time is left before a financial calamity occurs that could bring down the U.S. government and spark severe civil unrest in the country. This is just a rough estimate and it is just a speculation. Things may change as we move forward, but I doubt it.
It took 27 months for Washington to wrack up its last $1 trillion in debt. That is an average of $37 billion in new debt per month over the past 27 months. But during the past 12 months, the debt has grown by $596 billion. And that is an average of just shy of $50 billion per month.
If debt keeps being added at that pace, then it will take 20 more months to run up another trillion in debt. But the situation keeps deteriorating and over the past three months the rate has been down to 18 months.. So I will predict that Washington will run up another one trillion dollars in debt in the next 17 months. That will take us to June 2005.
I don't know the future, of course, but let's suppose that one trillion dollars in new debt is added over 17 months, then 11 months, then six months, then three months, then chaos. That would give the present system about 38 more months. So we're looking at March 2007 for a financial calamity unless something takes place to stop it.
A Nation of Slaves
I want you to be prepared for what's coming. The dollar is dropping hard and gold is rising systematically. The government of the United States has embarked on a hyperinflation of its currency to stave off economic collapse and the financial indicators are responding accordingly.
Now there is one indicator that is not responding properly - interest rates are not rising yet to any substantial degree. Here's why: China, Japan, and other countries, to a lesser degree, are buying U.S. debt at a massive rate, consciously holding down U.S. interest rates so that our economy won't collapse and the American consumer can and will continue to buy their manufactured goods.
The implication of this is clear: the economic well-being of the United States exists at the pleasure of China, Japan, and others. In essence, we are their slaves and vassals and they are using us to enrich themselves.
This is a far different picture than Americans have of themselves, especially the neocon vision of total U.S. global domination. But this is much closer to the truth than anything the government or Fox News will tell you.
This period of exceedingly low interest rates cannot last. They must rise at some point and with so much debt now to be serviced, it will become impossible. The government in Washington will be completely bankrupt and civil strife like not seen here since the Civil War will ensue.
The United States is not using this aberrational period of lower interest rates to get its financial house in order. No, it is using the time to wrack up even more debt, in greater amounts than ever before in the history of the world. No wonder the U.S. dollar fell more than 20% against even the Canadian dollar last year.
The euro is at an all-time high above $1.25. There are no breaks on this runaway train.
I hope you'll buy some gold and silver for your own protection. You're going to need it. And I hope you'll keep this paper handy as a reference guide. I'll keep updating the story for you as we move forward.
The thing to keep your eye on is how long it takes Washington to run up its next trillion dollars of debt.
Let me end with two quotes by Republican senators, made in December 2003, that show there is beginning to be some cognizance of the problem in Washington.
Senator Chuck Hagel (R:NE): "I gave my first speech on the Senate floor in February 1997 in support of the balanced-budget amendment. Republicans used to believe in balanced budgets. Republicans used to believe in fiscal responsibility, limited international entanglements, and limited government. We have lost our way. We have come loose from our moorings. The Medicare reform bill is a good example of our lack of direction, purpose, and responsibility. If we don't get some control over this out-of-control spending and policy-for-the-moment decision-making, we will put America on a course that we may not be able to recover from."
And Senator John McCain (R:AZ): "Any economist will say that you cannot have this level of debt and increasing deficits without eventually it affecting interest rates and inflation. Those are the greatest enemies of middle-income Americans and retired Americans."
McCain went on to say: "Congress is now spending money like a drunken sailor and I've never known a sailor, drunk or sober, with the imagination that this Congress has."
[url]http://senac.com/forums/14700/bin/29.html[/url][/QUOTE]
2004-02-18 18:08 | User Profile
Americans now work more hours per year than anyone else, yet these slaves think they're free.
Deficit spending helps prop up the value of the dollar and subsidizes cheap imports. Cheap chinese goods make Americans think they're more prosperous than they are. But, there's only so much money a creditor will lend and when we reach that point, the feds will have to kick in high inflation.