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Showing posts with label Coming Economic Collapse Report June 2010. Show all posts
Showing posts with label Coming Economic Collapse Report June 2010. Show all posts

Saturday, June 19, 2010

Urban Survival - The Coming Economic Collapse Report June 2010

The Perfect Financial Storm is brewing - get Ready. And I mean GET READY.

Not just the sluggish economy,..not just unemployment,....not just a bankrupt Social Security Trust Fund,....not just unfunded liabilities nor the Gigantic National Debt. It's all of it and more,.....the Bush Tax Cuts expiring,....add more failed banks.....throw in welfare and other spending programs,......

“We’re on this trajectory where we will have more takers than makers in society. We’re going to have more people taking from government than living on their own, paying taxes and contributing into it. That is a dangerous position to be in, that’s the position Greece is in,” - Congressman Paul Ryan (R-WI) May 2010.

Oh, did someone mentioned Greece? When Greece started to admit its debt problems last November, the government estimated its deficit last year was 12.7 percent of its GDP. Meanwhile, the U.S. deficit stands at 10.3 percent of GDP in 2010 under President Obama’s budget, with more spending plans in the works, not to mention Cap and Trade and the moratorium of drilling for gas. You'll probably see $7 a gallon gas by middle of next year.

Most Analyst believe there is a 40-50% chance that the Bush Tax Cuts will expire Dec 31, 2010 without Congress extending or modifying them. This would of course be a big blow to our chances of getting our economy back on track as this effects small business like a stake in a Vampire's heart.

83 Banks failed since Jan 1, 2010. The FDIC is often appointed as receiver for failed banks. The following link will direct you to the official Federal Deposit Insurance Corporation (FDIC) website (click here). The FDIC is a corporation who many analysts believe is under capitalized and on the brink of self collapse.

See the video below to explain the free fall in National Debt that has become us.