Stealth Austerity Hitting U.S.

Discussion in 'International Current News & Events' started by UncleJoe, Jun 30, 2010.

  1. UncleJoe

    UncleJoe Well-Known Member

    Austerity and Money Printing Are Hitting America | Greg Hunter

    Last week, at the G20 meeting in Toronto, there was much discussion about money printing for bailouts and cutbacks for austerity. These were the two main options talked about to deal with the economic malaise facing the globe. The U.S. is firmly in the money printing camp. Europe, on the other hand, is officially taking the cutback and austerity path. Who knows how either will turn out? Phil Davis of Phil’s Stock World sums up the official G20 statement on the meeting this way, “There’s 26 pages of this nonsense but the gist of it is: We promise to keep bailing out the economies but as soon as that’s done then we are right on top of this deficit thing.” (Click here for Phil’s complete article.)...

    ...As the ranks of the unemployed swell, so will foreclosures and defaults on all sorts of debt. Here is a story from a Southern California newspaper that came out just a few days ago. The headline read: “Unemployed dumping car leases.” The story said, “The unemployed are walking away from their car leases in droves as more laid-off workers see their jobless benefits cut off, reports Lease” The company said it, “noted the surge in listings coincides with the failure by Congress to approve HB 4213, a bill that would allow extended unemployment benefits through November.” (Click here for the complete story.)

    This is what stealth austerity looks like. Pretty soon, it will be uncloaked and brought out into the light of day. When that happens, it will be like the economy taking a nose dive into the deep end of a swimming pool with no water to cushion the plunge.
  2. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

    So we can keep pouring borrowed money into a sinkhole hoping to keep the "economy" afloat until ... what? There is no plan for recovery, only a lot of crossed fingers, hoping things will get better.

    Unless the US can get back on track for producing/manufacturing goods there will be no improvement. We'd best batten down the hatches. The storm is only beginning.

  3. UncleJoe

    UncleJoe Well-Known Member

    And here's another one.

    25 Signs That Almost Everyone Is Expecting An Economic Collapse In 2010


    ...So in light of all this, what should we all do?

    We should all start preparing for difficult times.

    Now is a great time to get out of debt, to reduce expenses, to develop additional streams of income and to start storing up food and supplies for when things really fall apart.

    After all, you don't start preparing once the storm has already arrived. You start preparing the moment that you see the first signs of trouble on the horizon.

    There is no excuse for not getting yourself prepared. The signs that we are headed towards an economic nightmare are all around us.

    Do what you have to do for youself and for your family.
  4. horseman09

    horseman09 Well-Known Member

    UncleJoe, I agree 100% as I'm sure everyone else on this forum does, but as for the rest of America? (I can't speak for other countries)........Let's face it. Most Americans think we're a bunch of gun totin', knuckle draggin' whackos who probably had to repeat 6th grade 3 times. After all, this is AMERICA. Nothing THAT bad ever happens in America.

    Well, I fear they are going to be proven very, very, wrong in the near future; then, they will become our greatest threatto survival.
  5. kyfarmer

    kyfarmer Well-Known Member

    You got that right and a gun toting knuckle dragging wacko is exactly what they will get when they come to the door for a hand out. I,ll tell them to ask oboma and congress for a friggin hand out. When the bottom drops out there will be a shock factor at first, then the nasties will take over and it might get a little rough. Ya reckon.