Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Posts Tagged ‘debt

When is Ebola Not Ebola?

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I suspect that the New York doctor doesn’t really have Ebola.  The government just tells us he does so that his “reckless” actions while supposed to be infected will prove to the citizens that Ebola is not easily transferable.   We see stories of the reckless actions of riding on a subway and bowling while showing signs of Ebola.  He get admitted to the hospital and low and behold, no one on the subway or bowling alley get sick.  Its the governments way of giving the public a false sense of security.  Just another thought since I rarely trust what the government says.

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Written by opinionoregon

October 28, 2014 at 7:07 pm

Posted in Uncategorized

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American’s are Debt Slaves, see the how large the problem is

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 Debt Slaves
  • Student loan debt in the U.S. is nearing 1 trillion dollars
  • With government support, colleges can raise tuition to whatever they want, and they have. The only thing rising faster than college tuition is our government health care system.
  • Two-thirds of all college students graduate with student loan debt
  • Borrowing for college students is up 100% in the past 10 years
  • Today, 46% of all Americans carry a credit card balance month to month
  • Americans have 600 million active credit cards in the U.S.
  • Consumer debt has increased over 1,700% since we dropped the gold standard and went 100% fiat
  • 45% of cars are now being financed for 6 years
  • 70% of ALL car purchases in the U.S. involve an auto loan
  • 45% of auto loans are subprime
  • Right now 8 million Americans are at least one mortgage payment behind
  • Mortgage debt as a percentage of GDP has more than tripled since 1955

Government Debt – out of control

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This week the fed is set to auction off a mere $124 billion…No biggie! What’s another $124 bill in debt?  These auctions will probably do well as Europe’s economy continues to swirl down the toilet bowl. We still somehow represent a “flight to safety”. The way I see it, Europeans sending their money over here for safety is like sending your daughter to the casino with Joran Van Der Sloot for cocktails. Let’s face it:  This Ponzi game of finance cannot continue at this pace. It’s mathematically impossible. What’s scary is we now have to peddle these auctions at a time where Europe appears to be heading straight into a debt deflation death spiral. I say this because extreme austerity will be the only exit strategy that Europe has as long as the euro is alive because none of these countries can devalue their currency.

As a result of extreme austerity measures: Wages will get crushed as these countries pay off their immense debts. Lower wages will then crater the housing market which then craters the banks and so on and so on. What will be left will not be pretty. Moving forward, the European governments will have a lot less money in their coffers to spend on things like Treasuries because their tax revenues will also crater as a result of austerity measures. They will also be forced to spend more money at home as unemployment soars. The impact of such conditions will increase the costs of social programs that will be necessary in order to avoid civil unrest. The Bottom Line sometime soon, one of our debt  auctions will fail. It’s a matter of WHEN not IF. There simply isn’t enough money in the world to continue such irresponsible spending without printing. My fear is when that day arrives the Treasury will have no choice but to turn our currency into a piece of toilet paper.  Let’s all hope this house of cards doesn’t tip over next week.

Consumer Debt

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As Americans we have become serfs to debt.  Our debt (individual and collectively), has grown out of control.  We need to take our medicine and quit spending.  We need to get out of debt because without debt, we can’t be forced to work; you are free to work.  The difference between the two choices is a matter of freedom or serfdom.

Written by opinionoregon

January 19, 2010 at 2:40 am