Rogers puts in in a nut shell!

[Mega]

" It took 240 years for America to rack up $5 Trillion in debt, last weekend we doubled it!"
http://www.cnbc.com/id/15840232?video=793635578
Mike

[flintlock]

Re: Rogers puts in in a nut shell!

Man did he spank that lady announcer good! " Maybe you should read the balance sheet or have someone explain it to you ". Talking head cheerleaders trying to explain away all this fraud. Pretty funny.

[Mega]

Re: Rogers puts in in a nut shell!

Jim Rocks!
Mike

[moonshot]

Re: Rogers puts in in a nut shell!

"If you're blaming all this on short sellers, then you should have another job."

[lethal]

Re: Rogers puts in in a nut shell!

Mega, unless I am mistaken. 1. In 1972, when the U.S. left the Gold Standard, it was the largest creditor nation on earth. 2. In 1987, the U.S. was net ZERO. In 15 years it had wasted it all. 3. In 2002, the U.S. became the largest Debtor nation on earth. It has taken only 21 years to rack up $5 Trillion in Debt! If we do no stop spending more than we earn and start saving, we will look like Zimbabwe! We are rapidly approaching the event horizon of a financial black hole! Remember TANSTAAFL ? (There Ain't No Such Thing As A Free Lunch). Unfortunately, we have all been eating Lunch for the last 20 years believing it to have been free. It isn't, others have been paying the bill and now they want to be paid! Through our politicians and outright greed by all of us, we have given, the Russians, the Chinese, the Gulf Countries, the facility to destroy us. The only way to control our own destiny, is to stop the politicians and officials LIES and to start saving! I just hope we all realise this in time and take action!

[sn1p3r]

Re: Rogers puts in in a nut shell!

lethal, i agree completely with what you are saying but to clarify...

1933 - US went off gold standard (gold ordered to be turned in at $20/oz.)
1934 - US set "fixed" gold price of $35/oz.
1971 - US went off "fixed" gold price of $35/oz.

You are correct the nail went in the coffin in 1971 but we has already begun inflating the dollar with the $35/oz. price.

[Starving Steve]

Re: Rogers puts in in a nut shell!

Mega, unless I am mistaken. 1. In 1972, when the U.S. left the Gold Standard, it was the largest creditor nation on earth. 2. In 1987, the U.S. was net ZERO. In 15 years it had wasted it all. 3. In 2002, the U.S. became the largest Debtor nation on earth. It has taken only 21 years to rack up $5 Trillion in Debt! If we do no stop spending more than we earn and start saving, we will look like Zimbabwe! We are rapidly approaching the event horizon of a financial black hole! Remember TANSTAAFL ? (There Ain't No Such Thing As A Free Lunch). Unfortunately, we have all been eating Lunch for the last 20 years believing it to have been free. It isn't, others have been paying the bill and now they want to be paid! Through our politicians and outright greed by all of us, we have given, the Russians, the Chinese, the Gulf Countries, the facility to destroy us. The only way to control our own destiny, is to stop the politicians and officials LIES and to start saving! I just hope we all realise this in time and take action!

How can we save and why would we save if interest rates offerred at banks are close to zero--- or at the TD Bank here in Canada, they are zero and they charge you fees to withdraw your money?

So the issue is what I keep saying it is: co-ordinated central bank monetary policy throughout the world to keep interest rates low and to make saving all but impossible.

Maybe they are out to get the baby-boomers who are now facing retirement? Maybe that is what this is about? The central bankers want us dead, so they don't have to pay us our social security and medicare.

But they won't say that, will they? But that is what this amounts to.

The issue is 3 workers now have to pay taxes to support 2 retirees, or something to that affect. The ratio is supposed to be more like 30:1, but because the baby-boomers are such a buldge in the population pyramid, the ratio is more like 3:2.

I think they call this the dependency ratio. So to solve the dependecy ratio problem, they make the baby-boomers keep working.... It's the solution that the nazis would have thought of: to keep the senior citizens working until they drop dead on the job. This raises national productivity.

No issue that the baby-boomers paid taxes for all of their lives to support their retirement and that of their parents.

And no-one says a thing!

[World Traveler]

Re: Rogers puts in in a nut shell!

In the early 1980's, the Greenspan Commission recommended raising social security taxes on wages significantly. To pre-fund, we were told, the baby boomers retirement by building up a surplus in Social Security, so the money would be there to pay social security benefits to this huge demographic bulge. Duly implemented shortly afterwards Congress and President Reagan.

What a scam. The surplus was used to offset the shortfalls in I.R.S. revenue due to Reagan and Bush tax cuts that primarily benefited the richest Americans.

We were told that the money was being "borrowed" from Social Security and that Treasury I.O.U.'s to Social Security would be honored.

Now our Masters of the Universe are telling us that there's not enough money available in Socal Security to pay the promised benefits and that baby boomers need to accept this.

I do not need Social Security for my retirement, but I hate to see lower middle class and poor Americans being scammed.

For more than 50% of Americans, Social Security has been the largest tax taken out of their paycheck for many years.

Now these Masters of the Universe on Wall Street and in the government want poor Americans to scale back their living standard in retirement, so they can keep their huge tax cuts.

You can't fool all the people all the time. That's why I think a lot of the old political themes are not working anymore and Bush is so unpopular.

The average American is waking up. Will it make any difference? Time will tell.

[jtabeb]

Re: Rogers puts in in a nut shell!

How can we save and why would we save if interest rates offerred at banks are close to zero--- or at the TD Bank here in Canada, they are zero and they charge you fees to withdraw your money?

So the issue is what I keep saying it is: co-ordinated central bank monetary policy throughout the world to keep interest rates low and to make saving all but impossible.

Maybe they are out to get the baby-boomers who are now facing retirement? Maybe that is what this is about? The central bankers want us dead, so they don't have to pay us our social security and medicare.

But they won't say that, will they? But that is what this amounts to.

The issue is 3 workers now have to pay taxes to support 2 retirees, or something to that affect. The ratio is supposed to be more like 30:1, but because the baby-boomers are such a buldge in the population pyramid, the ratio is more like 3:2.

I think they call this the dependency ratio. So to solve the dependecy ratio problem, they make the baby-boomers keep working.... It's the solution that the nazis would have thought of: to keep the senior citizens working until they drop dead on the job. This raises national productivity.

No issue that the baby-boomers paid taxes for all of their lives to support their retirement and that of their parents.

And no-one says a thing!

Yeah, Yeah,Yeah, Biggest swindle in the history of the world. EVERYONE KNOWS THAT!

What are we going to do to stop it? THAT's the question?!!?

[jtabeb]

Re: Rogers puts in in a nut shell!

In the early 1980's, the Greenspan Commission recommended raising social security taxes on wages significantly. To pre-fund, we were told, the baby boomers retirement by building up a surplus in Social Security, so the money would be there to pay social security benefits to this huge demographic bulge. Duly implemented shortly afterwards Congress and President Reagan.

What a scam. The surplus was used to offset the shortfalls in I.R.S. revenue due to Reagan and Bush tax cuts that primarily benefited the richest Americans.

We were told that the money was being "borrowed" from Social Security and that Treasury I.O.U.'s to Social Security would be honored.

Now our Masters of the Universe are telling us that there's not enough money available in Socal Security to pay the promised benefits and that baby boomers need to accept this.

I do not need Social Security for my retirement, but I hate to see lower middle class and poor Americans being scammed.

For more than 50% of Americans, Social Security has been the largest tax taken out of their paycheck for many years.

Now these Masters of the Universe on Wall Street and in the government want poor Americans to scale back their living standard in retirement, so they can keep their huge tax cuts.

You can't fool all the people all the time. That's why I think a lot of the old political themes are not working anymore and Bush is so unpopular.

The average American is waking up. Will it make any difference? Time will tell.

Go watcht the video about the economic collapse of Argentina (I watched all 12 sections last night) Same GODDAMN thing. Sad thing we are starting where Argentina was 25 years ago. It took them 25 years to finally revolt. Our revolt won't come for another 25 years, IF there is a way to get people to act in their finaical interests. (The uber-rich have been, everyone else has abdicated their own interest to the benifit of someone wealthier than they are) Not good idea.

[don]

Re: Rogers puts in in a nut shell!

iTulip's provocative title for that video is America in 24 Months. Not an unreasonable assessment to me. Kind of makes sense of the total surveillance society that's been built. I think a spontaneous 'acting out', akin to the multi-ethnic LA riots, is most likely, triggered by something like a well-publicized resisted foreclosure eviction. Of course that would be a major corporate media blunder to broadcast unless it was intentional. The big question would be what happens after 2-3 days of civil unrest, with the rest of the country watching. My guess is something more along the lines of the Emperor's response to Late Rome bread riots (more bread and circuses) than angry peasants and workers at the Winter Palace in St. Petersburg. Impeachment of fall guy Obama would be a natural under that operation.

[Brooks Gracie]

Re: Rogers puts in in a nut shell!

Our revolution will be much quicker than Argentina's. We have LOTS of guns in private hands, and a lot of very pissed off/scared people. The necessary great depression policies got implemented slowly, despite agonizing suffering. They only got implemented at all because of the lure of Communism, and the wealthy's prospect of losing everthing to the State. The new revolution will spur the wealthy to enact a better social safety net when the stories of armed gangs kicking the wealthy out of their own houses, in order to find food and shelter,

Imagine the powder keg if we had to resort to hoarding, how quickly U.S. policy would have to change. The race riots of the sixties would pale in comparison. Widespread looting will be unprecedented when the grocery shelves started getting empty, and the social safety net collapses.

[phirang]

Re: Rogers puts in in a nut shell!

Our revolution will be much quicker than Argentina's. We have LOTS of guns in private hands, and a lot of very pissed off/scared people. The necessary great depression policies got implemented slowly, despite agonizing suffering. They only got implemented at all because of the lure of Communism, and the wealthy's prospect of losing everthing to the State. The new revolution will spur the wealthy to enact a better social safety net when the stories of armed gangs kicking the wealthy out of their own houses, in order to find food and shelter,

Imagine the powder keg if we had to resort to hoarding, how quickly U.S. policy would have to change. The race riots of the sixties would pale in comparison. Widespread looting will be unprecedented when the grocery shelves started getting empty, and the social safety net collapses.

It'll make for great tv!

[metalman]

Re: Rogers puts in in a nut shell!

It'll make for great tv!

nah, won't be on tv. only on youtube or one of the other 100 web video services unless the gov't makes ever isp block them :eek:

[moonshot]

Re: Rogers puts in in a nut shell!

Our revolution will be much quicker than Argentina's. We have LOTS of guns in private hands, and a lot of very pissed off/scared people. The necessary great depression policies got implemented slowly, despite agonizing suffering. They only got implemented at all because of the lure of Communism, and the wealthy's prospect of losing everthing to the State. The new revolution will spur the wealthy to enact a better social safety net when the stories of armed gangs kicking the wealthy out of their own houses, in order to find food and shelter,

Imagine the powder keg if we had to resort to hoarding, how quickly U.S. policy would have to change. The race riots of the sixties would pale in comparison. Widespread looting will be unprecedented when the grocery shelves started getting empty, and the social safety net collapses.

You can bet that there will be terrorist threats and lots of red alert days to give the public something else to focus on. But yeah, eventually the people will open their eyes - not being able to feed your kids tends to do that.