Bush and company are bringing down America -- Picture = 1000 words

[cthrumatrix]

http://www.bea.gov/bea/newsrelarchive/2005/trad0605_fax.pdf

Here is the ever worsening trade deficit since Bush has been in office.

This means our $$$ is toast ....and will go down further becuase of
OIL IMPORTS.

Bush knows this ...the US no longer is the worlds LARGEST DEBTOR.

Since we don't make anything and creditors sucked americans dry...we are very vulnerable.


HINT HINT HINT
--------------
What would happen to US Debts IF something horrible were to happen in the US AGAIN?

Would the debts be forgiven by the World Bank / IMF (Wolfy's help)????

Would the US go into martial law???

Would the real estate bubble burst???

Would this be the largest "wealth transfer" ever????

[cthrumatrix]

1. the US has lost control of the $$$...countries will go to the Euro

or a basket of currencies for OIL purchases.

AND...Iran is opening an Oil trading Market in March '06....to trade only in Euro's

THIS is not good...all this was known.

[Vincardog]

2. The fascist agenda is austerity for all public spending

while continuing to pour Billions into the war machine's account.

[cthrumatrix]

4. it's worse than that....it's controlled collapse of the economy

[cthrumatrix]

3. remember Bushco had Iraq Oil Maps out 8.5 mos b4 911

Paul O"Neil's book "The Price Of Loyalty" written by David Suskind told us abou this very early.

Media ignored it.

[newswolf56]

5. Though I'm no theoretical economist, I can just about promise...

the so-called "real estate bubble" will never burst: what's driving real estate prices is the down-the-commode plunge of the increasingly worthless U.S. dollar, and that isn't going to stop -- ever. Hence real estate prices (at least as measured in dollars) will continue to skyrocket even as the economy goes into total collapse.

Something very similar happened during the collapse of the Western Roman Empire: as the currency became ever more worthless, land prices soared, and as the prices soared, the people were priced ever more out of the market, and land ownership was concentrated ever more in the hands of the super-rich. These were the people who would become the baronial "nobility" of the coming thousand-year dark age. The same thing is happening now: home ownership in America is already beyond the reach of the Middle Class, but taxes keep skyrocketing as assessments climb, with the result that more and more home owners are forced to sell (or mortgage) merely to pay their taxes. It's a very old and very ugly story.

One of the truths I was taught in history is that land -- like gold -- is stubbornly value-constant despite all the efforts of modern economists to prove otherwise. Talk of the "real estate bubble" is merely plutocratic propaganda intended -- like official "unemployment rates" -- to conceal what's really going on: the dollar is ever more worthless, jobs are ever more scarce, the U.S. economy is beginning its death-throes.

[cthrumatrix]

6. those with ARM's (which are many) will need to sell creating

a seriously decline if/when rates rise substantially.

It would not be good IMHO.

[newswolf56]

7. I know it's logically sound -- that as adjustable rate mortages...

become more expensive, many low-end mortgagees will have to bail out, flooding the market with a glut of forced-sale real estate and thereby theoretically lowering the price. But in what (for wont of a better term) I'll call an "apocalypse market," this doesn't happen. While there may be momentary local fluctuations due to desperation sales -- people leveraged to sell at huge losses -- the average price will continue to climb as the rich shift ever greater portions of their liquid funds out of the collapsing currency and the faltering economy and reinvest these funds either by outsourcing or placing the money in guaranteed-value investments like land or gold.

Historically, the greatest example of this was the one I cited -- the economic collapse of the Western Roman Empire -- but more recent, smaller-scale examples are known.

One such is the economic collapse of the South after the Civil War in which the ruined aristocrats sold their land literally for pennies on the dollar, typically to "carpetbagger" speculators who promptly resold at huge profits -- 500, 1000, even 2000 percent. The final buyers were often northern timber companies; this is what facilitated the savage post-Civil-War clearcutting of the South, the environmental depredations of which forced FDR's creation of the Tennessee Valley Authority 70 years later. Home ownership in the sense other Americans knew it remained beyond the average Southerner's reach until the GI Bill of the post-World War II years.

Though I don't know the details, something similar to what occurred in the South happened in Germany after World War I, when the Weimar Republic's economy was destroyed by the war reparations imposed by Britain and France. A previously healthy middle class was utterly obliterated -- the economic collapse that led directly to Hitler's victories in the German elections.

The bottom line is that -- unless the government forcibly intervenes -- home ownership in the United States is now permanently beyond the means of the American worker. As in the above examples, speculators will keep the prices inflated beyond reach of all but the truly wealthy. (One of the real reasons behind passage of the recent ban on bankruptcy is to force desperation sales. The law replaces bankruptcy with a court-ordered lifetime of indentured servitude that -- for the ever more pressed American worker {but not for Big Business} -- includes the very real threat of debtors' prison. People desperate to avoid such enslavement will, like the ruined Southern aristocrats, literally sell their homes for pennies on the dollar.)

Indeed such compulsory desperation sales -- with the attendant obscene profiteering by speculators -- are already happening. Hence the price of real estate remains inflated even as the mass of the people are increasingly unable to afford rent, much less mortgage payments. The current new wave of homeless people -- men and women with full-time jobs who can afford no housing save an automobile or some bench in a city park -- is only the beginning.



Edit: clarification of historical time-line in third paragraph.