Friday, December 24, 2010
The Day of Reckoning
It's Christmas Eve and by now, it should be obvious that the writing is on the wall. It's just a matter of time until people will be forced to acknowledge it. You can bury your head in the sand, but it's not going to stop the coming tidal wave. Even CBS' 60 Minutes is reporting on the obvious. 'State Budgets - Day of Reckoning' is a summary of the deficit crises escalating. The only reason why they haven't completely collapsed is because they have been living off of the federal stimulus money. But the money is going and the jobs aren't coming.
The state governments have spent a half of trillion dollars more than they received in tax revenue and their pension funds are one trillion dollars underfunded. In Prichard, Alabama, the local government simply ran out of money and stopped issuing checks. It didn't matter that the state law required the town to pay the pension checks. The town was flat broke and there was no money. Retired fire fighters and cops found themselves in their 50s and 60s without an income.
Mimi Ash returned home from ski trip and discovered that the bank changed the locks and took everything she owned. I'm seeing extremely troubling patterns in unemployment, foreclosures and housing. One-third more Americans are living in multi-generational homes.
Translation: People are losing their financial independence.
We now have over 42.9 million Americans collecting unemployment and nearly 1/5 of the population unemployed. The OE2 (printing dollars) is only going to weaken the dollar and step the stage for an even greater crisis. As many of you know, I am a personality on Youtube and I have been warning people about this larger economic crisis for the last two years. I have been warning you guys about the inevitable collapse. If you are a causal reader or viewer, now is the time to stop and consider my words carefully.
The system is unsustainable and its collapse is inevitable. If you don't have water storage, grab every bottle you can full it with clean water. If you don't have any food storage, go to Walmart and buy a 25 pound bag of wheat, rice and Pinto beans. I also recommend black eye peas and Oatmeal, because you can use these supplies to create meals. You need to buy canned fruit (to mix with the oatmeal), canned soup and harsh beef to mix with the rice.
Legally buy a gun and learn how to use it. I recommend a shotgun. I recommend a pump action 12 GA, because they are dependable and cost effective. Look at the Mossberg 5000 and Remington 870. You may also want to get a 22lr rifle for hunting. Grab plenty of ammo and stop preparing now.
Alabama Town’s Failed Pension Is a Warning
In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks