[Source: Reuters via Prison Planet January 14, 2010]
Today a panel of experts said "The United States must soon raise taxes or cut government spending to curb its debt, and failure to act will risk a crippling dollar crisis as investor confidence ebbs ". The panel was assembled by the National Research Council and the National Academy of Public Administration. This study has apparently taken two years to reach their findings. Notice that the panel gave two options: Raise Taxes or Cut Government Spending. Which option do you think the government will choose?
[Source: Financial Times, February 16, 2010]
The President of the Federal Reserve in Kansas is warning that if pre-emptive action isn't taken soon that our nation could risk another financial crisis with inflation as the problem this time. The headline is a little misleading because although he is the lone voice among the Federal Reserve members he joins a chorus of other economists who are and have been predicting for awhile now that we will experience inflation soon. This may be another warning to those who are discerning of an impending financial crisis - the dreaded "double-dip" that economists have been talking about. Moreover, some have speculated that this crisis is actually being manufactured by the powers-that-be in order to bring down America's economy in order to help prepare the way for the North American Union (see CFR Report), which is supposed to go into effect sometime this year. It has also been mentioned that at last year's Bildeberger's meeting the topic of discussion was about how to "destroy the U.S. dollar" (see article) for the greater good of the World community. If I didn't know any better I would say that America is getting ready for its own version of Revelation's 3rd Horseman.
To drive the point home further check out the following article from ABC News and some of the quotes taken from it.
"Within 12 years…the largest item in the federal budget will be interest payments on the national debt," said former U.S. Comptroller General David Walker. "[They are] payments for which we get nothing." Economic forecasters say future generations of Americans could have a substantially lower standard of living than their predecessors' for the first time in the country's history if the debt is not brought under control. Government debt, which fuels the risk of inflation, could make everyday Americans' savings worth less. Higher interest rates would make it harder for consumers and businesses to borrow. Wages would remain stagnant and fewer jobs would be created.
"The United States currently owes over $12 trillion to its debtors..."
NOTE: The last quote reminds me of the old adage, "the borrower is a slave to the owner." Which in turn begs the question, "So just who is the owner here?" Some may say it is the Federal Reserve since they are the ones that lend us the money, but I'll let you decide...
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