Very "sane" idea Mike

Hi Mike,

I loved it! The vast majority of Americans have NO IDEA of the truth about our country's debt (or anything else that's going on, behind the scenes, for that matter.) But then, I suppose many don't really have a good idea about their own personal debt either....if you look at how they keep spending, and charging = "What the heck; let's just have fun and hope for the best."

Oh yes, as you, and many of us, have said before, there's a "wreckoning" coming, and it promises to be much sooner than later. But then, the "rapture cult" and their corporatist friends have the answers - certain "good" folks will be swept up into the clouds, while the rest of us are "left behind" to suffer. And, by-the-way, don't worry about the war(s) in the Middle East; they're just part of the predicted armaggedon, right?

What a nice plan, huh? Certainly much easier (for them) than taking any responsibililty to do the right things to fix what we've screwed up. But boy, are they going to be in for a surprise!

by im4unity (0 articles, 0 quicklinks, 0 diaries, 45 comments) on Monday, March 31, 2008 at 10:03:50 AM
 

im4unity

My greatest fear is the surprise that refer to. I spoke with an old friend last evening who both himself and his wife are lifetime bankers and he said, "this thing is just getting warmed up."

Housing may fall between 20% and 30% of current values, which will leave some 13 million homeowners upside down, owing well over the current, and perhaps the long term future values. This will be the surprise that upsets the apple cart.

Commercial loan failures will follow and further drag down financials. My opinion...we've reached the top of the pyramid that our economy was based on. Any further attempts to artificially prop up our failed system will only hasten the race to the bottom.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Monday, March 31, 2008 at 10:26:07 AM
 

Here Ya Go Mr. Mike..........

let's try these suggestions out for turning the economy around...........

First of all.........we bring all the troops home, (will not need Halliburton or KBR any more) that's a must and a savings..

Then to keep face in Iraq and not leave them stranded......the Iraqis must cut their own defence contracts directly with Blackwater......pay them directly for their protection services as they see fit.......Blackwater can no longer be a taxpayer burden.................

This also applies to Rehab Contractors........they must contract directly with the Iraqi Government as they see fit to rebuid..........

Next.........We must close the most expensive US Embassy (Iraqi) in the world down...period........We can rent that out to AIPAC and they can open a new Holocaust Museum........

Next.........We cut special business incentives for the US Iraqi/Afghani War Veterans to start construction companies in the housing industry here at home.........

Next........We cut special business encentives for US War Veterans, as above, to open trade schools in Iraq and Afghanistan without the US Aide Bureaucracy and the expensive Admin Fees............

Next........all old US currency, say 1990 and older, must be pulled off the streets and burned....................and we should pass laws that no more than $500 cash per person can be taken abroad................unlike the $10,000 it is now..........

Next..........the government must strictly enforce laws already in effect that all US Aide funded contracts abroad must use only US made products.....no Euro products, no local purchases.......no exceptions...........

Next.......pass legislation that no more Foreign Military Aide Projects shall be allowed........

Next............We must pass legislation that no US trooper can fight wars of aggression............only wars for defense...........

Next............We must pass legislation that all Municipal Operated Garbage Dumps must be privatized and must be turned into methane gas producing plants.......the fuel must be sold on the market for cheap heating purposes.............

Next...........Cut a deal with Israel and make it our 51st state...........Middle East Problem over immediately......case closed.........savings enormous....

Next.........We must pass SEC legislation to prevent the sale of Publicly Owned Stocks..................................

Next.........All military war machines (tanks, ships, aircraft etc.) twenty years and older should be auctioned off to the steel factories, recycled and and sold to third world countries...........................

Next........All military bases abroad should be closed and converted into low income housing..........all proceeds to be used for supplementing the Social Security and Medicade deficit...........

And last but not least..........legalize state controlled sale of marijauna and all proceeds must go to state funded colleges and universities.......

That should get us a jump start........and that's my take on it.......

by Ernest (0 articles, 0 quicklinks, 0 diaries, 132 comments) on Monday, March 31, 2008 at 11:18:12 AM
 

Ernest

That's quite a laundry list, however, all but a few could have been instituted by voting for Ron Paul. As far as Israel becoming a state...wouldn't we fighting a full time war forever? They have.

Electing officials who would even give pause to these ideas is the first step and judging by the remaining presidential candidates, we skipped the first step all together.

Good and valid thoughts Ernest, keep 'em coming.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Monday, March 31, 2008 at 11:58:04 AM
 

Here's a radical idea

How about if the Congress takes back their constitutional authority to print money and just print enough United States notes to pay off the debt, replace all Federal Reserve notes in circulation, and then abolish the Fed instead of giving it greater powers?

by Watching (0 articles, 1 quicklinks, 3 diaries, 314 comments) on Monday, March 31, 2008 at 3:51:13 PM
 

RE: Here's a radical idea

Yee Haw..... I've been waiting for someone to come up with "getting rid of the privately owned Fed." Just imagine: (1) We kick the Fed Bank out, (2) Establish our own currency, based on gold standard again, (3) Tell the Fed we ain't paying them any of the debt they think we owe them. Then, get rid of usary. In other words, declare interest on loans as illegal. Hee Hee. Wouldn't that strike pain in the hearts of many a banker?

But seriously, until we kill the Fed Res Bank, and start doing our own government-owned-and-government-controlled monetary system, we'll never begin to see financial freedom.

Then, next step is to put corporations back where they started:

(1) Must have a specific reason to get a corporate charter, and

(2) Can only exist for a certain number of years, and

(3) Do NOT have same priviledges as living, breathing humans

Now THESE would be worth starting a revolution over. And, while we're at it, let's have only publicly-financed elections, put term limits on members of congress, wipe out K street lobbyists, make it an imprisonable offense for the government to start a pre-emptive war, and.....oh well....you get my drift.

If anybody knows where these things exist, please let me know. I can be ready to move within 30 days.

by im4unity (0 articles, 0 quicklinks, 0 diaries, 45 comments) on Monday, March 31, 2008 at 4:07:19 PM
 

Re my previous post

Well, I do know how to spell "usury."  I just posted too fast.  :>)

by im4unity (0 articles, 0 quicklinks, 0 diaries, 45 comments) on Monday, March 31, 2008 at 4:10:04 PM
 

The problem

that exists is that the debt was allowed to be purchased by foreign nations. At one time we would have literally been dealing with our own government, today Japan, China, India and host of others own a great deal of our debt.

People also become billionaires simply dealing in currency exchange. My opinion...it should be illegal. The money system has become so corrupt that it no longer even resembles the original intent.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Monday, March 31, 2008 at 4:35:21 PM
 

Reagan vs. Eisenhower

People don't realize the great con of the NeoCons, and by that I mean Reaganites.

Eisenhower connected the dots and warned us about the military industrial complex and the greedy politicians they buy.

Any Republican that runs a deficit is not Conservative, fiscal or otherwise. NeoCons are all about running up the US debt as wealth is funnelled to the elite

by Gustav Wynn (51 articles, 34 quicklinks, 5 diaries, 235 comments) on Tuesday, April 1, 2008 at 7:13:52 AM
 

Gustav

I wish that I could say that you are correct Gustav, but history won't let me.

In fact, picking out someone such as Reagan and blaming him for all of the problems is like saying Henry Ford in responsible for the entire history of the automobile.

I have dedicated thousands of hours to the study of the American economy and until we change the system...the debt will continue to climb, regardless of who is at the helm.

Our impossible underlying economic basis is that of exponential growth in a finite world...that is mathematically impossible. We cannot consume more each day of resources that remain constant.

If you look at our decline with an open mind, you will see that we simply reached zenith in the worlds largest pyramid shceme.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Tuesday, April 1, 2008 at 8:27:55 AM
 

Mike your efforts to characterize........

our sorry state of affairs is well appreciated........until this day most Americans have no idea what the hell they are up against.........I use somebody else's discription of "Couch Potatoes" and they are the one's who stay glued to the Main Stream Propaganda Machines and believe every friggen word that comes across the screen............how pathetic.......I would venture to say 80% of Americans have never had a passport in their entire life..........and this is how the thugs like Bushco and Company are able to pull off these Dream World Scams of the Century..........

Coming back down to earth however is different...........there is no real quick fix solution.....with every idealist plan there will be drawbacks, obstacles and opposition...........But, we must take this chance towards something positive...........even if it's just awareness that we could achieve...........

For example.....I would be willing to sign-up for another four years of Bushco and Cheney just as long as I know at the end...........they were both hung side by side on the White House Lawn..............

by Ernest (0 articles, 0 quicklinks, 0 diaries, 132 comments) on Tuesday, April 1, 2008 at 11:07:54 AM
 

The Capitalist

in me says that ticket sales for the hanging could lead to insane profits.

Americans are easily distracted. I always point to the Elian Gonzalez case. When things were getting super bad around the Oval office, suddenly all of America focused on one Cuban refugee that entered illegally and was going to be deported. An event that takes place some 1000 times per day.

I couldn't get a personal letter back from the attorney general in my lifetime and Elian got a personal interview along with an entourage of the highest level officials in the land. Go figure.

The U.S. is in the final stages of a failing economy. All of the fan fare regarding banks, the Fed, rebates, and new leaders is simply a diversion from the truth.

Thanks for the comment.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Tuesday, April 1, 2008 at 12:17:53 PM
 

RE: FeD UP

Pretty much everything said here is important and that's why I think we need legislators who know about needed reforms and how to implement them, and that's why I think people need to hustle down to their voting precincts when the polls close and watch a manual count of the election - done by unpaid citizens, - even students - with the results announced immediately and posted immediately at the precinct. That way, every candidate can count his/her own votes.


While hopeless debt is a reality, declaring bankruptcy is also an option. The challenge is to prevent Big Money from cornering even Bigger Money by buying property at pennies on the dollar.


For the short term, in communities where money virtually has dried up, the answer can be scrip, a form of community currency which some cities issued during the Great Depression. In fact, community currency can be the best defense for a community which must deal with the depredations of Big Money, especially via the Fed.

I vote pretty much for all that has gone before, but election integrity and issuing of scrip are my first and second choices, with impeachment a close third.

by MyTwoCents (0 articles, 0 quicklinks, 0 diaries, 36 comments) on Tuesday, April 1, 2008 at 1:09:25 PM