Are you ready for the Breakdown?
How do you -- or a nation -- arrive at a point of financial breakdown? Does arrogant entitlement and over-extension beyond one's means resonate with today's news headlines?
On a national level, we experience the severity of living on international credit -- now come home to roost. For the past 20 years, our Congress encouraged massive outsourcing, insourcing and offshoring of American jobs. That caused us to lose our manufacturing base and facilities. Thus, today, we tolerate a $700 billion annual trade deficit. We pay China, India and other third world countries to manufacture our goods at lower prices while our middle class languishes with millions of job losses -- and cannot continue buying those goods.
Few Americans realize that when you shop at such stores as Wal-Mart, Lowe's, Kohl's, Home Depot and Target, you slit your neighbor's and your own financial throat.
James Howard Kunstler, author of, The Long Emergency, said, "Americans failed to recognize the essential fraudulence of the idea that this destruction was ‘creative' and would lead to a higher good, that the end justified the means, even as they watched their towns die around them. Wal-Mart and its imitators used their wealth and muscle to set up ‘superstores' on the cheap land outside small towns and put every other merchant out of business, often destroying most of the town's middle class. They also destroyed the local capacity to produce goods. The public enjoyed this bonanza of ‘supercheap' manufactured goods without reckoning any of the collateral costs, which were astronomical."
While Congress dismantled our manufacturing and construction base, and millions of necessary jobs, Congress exacerbated our vulnerability by borrowing (selling), unknown to average citizens, $1.3 trillion in Treasury Bills from (to) China to prop up our moribund economy. On a national level, the average credit card runs a $9,240.00 balance (debt) according to NBC's Brian Williams. Total consumer debt exceeds $2 trillion. National debt tops $10.1 trillion! Ahh, the abundance of unsubstantiated bailouts flow from a Monopoly Board checkbook!
The day approaches, likely 2010, supported by the Hubbert Curve analysis -- when galloping population expansion collides with declining oil extraction.
Similarly, we falsified home values with escalated appraisals cradled in vacuous, lofty ideals. We allowed millions of poor borrowers without down payments or viable financial histories to purchase homes clearly outside their range.
"No problema amigo," Wells Fargo banker said. "We can work the numbers to make the American Dream yours!"
Surprise! The real estate bubble burst! Millions of foreclosures strangled American citizens and poor migrants who lost jobs while they watched interest rates rise beyond their means.
Can you guess the next bubble to burst? What can we see exploding in our faces? What crisis long denied by our presidents and Congress zeroes-in on our civilization like a stealth missile?
Immigration-driven hyper-population growth extends its ubiquitous tentacles into every aspect of American society.
While, according to President Bush, 573,000 manufacturing jobs vanished in November, the United States imported 200,000 job- seeking immigrants from third world countries. It doesn't end there! Our myopic Congress proposes doubling legal immigration to 2.4 million annually and giving amnesty for 20 million plus illegal migrants! Watch for that political torpedo in 2009.
U.S. Representative Zoe Lofgren (D-CA) promoted an H-1B bill to add 550,000 foreign workers.
That's on top of another 200,000 immigrants added in December! Add another 200,000 immigrants in January, and the same, month in and month out!
Does anyone see the correlation with our financial plight? Where is the common sense of importing more bodies when our own workers stand in unemployment lines?
Now is the time for sensible decision making -- as other countries must decide -- regarding how many immigrants we can sustain before exploding into chaos. We accept more immigrants annually than all other countries combined!
Our natural resources suffer over-extension today! California's accelerating water shortages, arable land loss plus overwhelming debt strangles its sustainability! California depicts and portends America's future. From the look of things in the past two months, baby, we're already there!
Why do we entertain inviting millions more immigrants into our country when our middle class stands in welfare lines, visits soup kitchens, floods into food banks and loses homes?
Excerpts above are from: Frosty Wooldridge - December 22, 2008 - NewsWithViews.com
We must demand thru our representitives that the cost of them buying offshore, on our behalf, is a price we cannot afford, no matter how much they 'think' they are trying to save us...
Bottom line? The 'representitives' that YOU voted in, have cost many good people their jobs. It has cost us our manufacturing base, and the people in our Congress are replacing those jobs with foriegn workers. Do you not see something wrong here? No, it is not just the President's fault, for it is Congress that submit the bills, and pass the laws. (Led by Nancy Palosi and Harry Reed.)
Examine your recient Christmas present purchases. Did you really get the best price?