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Archive for the ‘cut spending’ Category

>Financial Crisis Getting Worse, Folks!

>By Don White
If you think we have turned the corner on bailouts and financial crises, think again. We have just seen the tip of the iceberg, according to insiders. Just consider the latest eerie news on things that are happening or going to happen to your dollar, to your retirement, to your ability to survive in these troubling times:

  • Being a former insurance executive I know we haven’t even scratched the surface of the insurance imbroglio. Assets are being driven down while liabilities are going sky high. We will never have enough reserves to pay for everything insured. Insurance companies are about to suck this economy back into crisis. They’re getting hammered from sinking assets, with almost no way to pay their guaranteed annuities to their customers. This could make AIG look like small potatoes… And we’ve just talked about life liabilities. What about accident and health? And what about the property and casualty side of things? Just wait. . .
  • Commercial real estate is about to blow. It’s financed by $3.1 trillion in debt – and the delinquency rate just doubled to $724 billion. And this is just the tip of the iceberg…
  • Bernanke is handing out another $1.5 trillion to banks and other failing companies. Total bailout money now exceeds $13 trillion. Where’s the money coming from? The Fed’s printing presses. Inflation, baby, it’s coming down hard.
  • And get this… According to the Bank for International Settlements, the value of all derivatives (including toxic credit default swaps) now exceeds 683.7 trillion. If we were to spend 100% of the worlds annual GDP ($56 trillion) on the problem, it would still take 12.2 years to unwind everything. But forget that. We can’t use up every other nation’s GDP to cover President Obama’s stupid decisions. Forget that. And he continues to take these expensive “dates” to see a Broadway show with wife Michelle at about $350,000 each when the rest of us must tighten our belts. A ruler like that is not a public servant, he either believes he king of America or that money falls from the sky. In reality, Barak is a raving lunitic with a mission to lower taxpers to the same paltry poverty level and lower America among nations to the poorest of the poor.

And if that weren’t enough to raise the hairs on your back… Homes foreclosures are unending… Unemployment is still rising… Banks may need another $500 billion to stay solvent, according to the IMF… Corporate earnings are hitting all-time lows… And a loan of any kind is still harder to get than a Popsicle in the Sahara…

Government can’t spend us out of this mess. Senator Judd Gregg of North Carolina said today on Fox TV that spending is the real culprit. The answer is not printing new dollars because that ignites hyper-inflation. The answer isn’t borrowing more money. China refuses to lend us more money because our credit rating is about to drop from AAA to the high B’s. To put this in perspective, we now are worse off than Britain, that socialistic country we all used to talk about. Based on fund borrowed compared to ability to pay it back the Brits are at 50 percent. America is worse off than that — yes the greatest country on the face of the earth, or the one that used to be that — is at 58 percent. Is it any wonder no one has any solid answers.

One wrong move and this bear market can slap down your gains in a single day – and leave you reeling for years to come. Or even worse… Fail to move and you could miss the biggest gains of your life.

One mistake in either direction could leave your retirement dead as a door nail.

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>What If We Wake Up Some Morning And Find Out All Our Savings Are Gone?

>Bailout Bombshell!

Just days ago, the Obama administration announced plans to spend another $775 billion to $1 trillion on bailing out the troubled U.S. economy.
According to a study conducted by the San Francisco Chronicle, that brings the total bailout package up to $8.5 trillion (including the $700 billion Wall Street bailout… $600 billion to Fannie and Freddie… $168 billion in stimulus checks… the list goes on).
To put this into perspective, that’s more than this country spent on the New Deal ($500 billion)…
More than we spent on the invasion of Iraq ($597 billion)…
More than the entire lifetime budget of NASA ($851 billion)…
In fact, it’s more than all of these combined… and that includes throwing in the $256 billion we spent on the S&L bailouts of the 1980s… the $217 billion we spent on the Louisiana Purchase… and the $454 billion we spent on the Korean War!
And while this unprecedented ocean of artificial liquidity will surely lessen the effects of the recession… the unintended consequences could finish off the savings of millions of Americans… and they’re just days away.

We’re talking about something called the “Bailout Bombshell.” When this ticking time bomb explodes over the economy during the first quarter of 2009, it could destroy what wealth you have left.

For reasons that will become clear in a moment, almost no one will escape the next unexpected wave of the crisis.

Will Hepburn, president of Hepburn Capital Management in Prescott, AZ, assesses it this way: “Everyone is going to lose something. The winners will be those who end up losing the least.”
Gary Hager, president of Integrated Wealth Management, calls this threat the “8,000-pound gorilla in the room.” “We’re sitting in the room with the coffee cups vibrating.”
CNN Money reports that the coming shock is “right around the corner… even if actions taken by the Federal Reserve and the U.S. Treasury succeed at stabilizing the global financial system, and an economic recovery takes hold.”

Indeed, the “Bailout Bombshell,” as some experts are calling the coming catastrophe, could cause more damage to U.S. portfolios than anything the crisis has dished out yet!
In this report, America’s leading bear-market analyst will reveal the details of this brewing development.
More importantly, he’ll reveal an exact game plan for protecting your family – and even doubling your money – when the bombshell explodes just weeks from now. And it’s yours, free…
A bit of background…

The Global “Rush to Safety”… Headed for Disaster

When the financial crisis exploded early last year, investors worldwide began rushing headlong for the exits. EVERYONE wanted to exchange their stocks, funds and commodities (including gold!) for cold, hard cash.
And it wasn’t just individual investors. Hedge funds, hit by redemption demands from investors, were forced to liquidate their positions in exchange for cash (to the tune of $400 billion).
In a single 30-day span, investors yanked $127 billion from U.S. stock and bond mutual funds, seeking the “safety of Treasuries and cash,” according to the Investment Company Institute.
But the rush to cash didn’t stop there. Even with yields sinking below the S&P 500, the demand for Treasuries soared… all helping to drive the greenback up 21% in just five months.
All this has created what could be the biggest bubble in the financial world today… the bubble in the U.S. dollar! And now, that bubble is strained to the breaking point… even as investors the world over huddle in cash. It’s a disaster just waiting to happen… waiting for that “tipping point” event to set off the fireworks.
Consider…

>Obama Wants to Give The UN Your Money

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The above photo shows House Speaker Nancy Pelosi with the maffia. Actually they just represent the Maffia–people who steal your money–but are the cast of the Sopranos. One’s bad as the other. Both have their hands in your pocket.

Barack Hussein Obama does, in fact, have a legislative record in the Senate and one of his proudest accomplishments is The Global Poverty Act (S. 2433).

But wait just a minute! Isn’t combating poverty around the world a noble goal?

Well… the devil, as they say, is in the details!

Some conservative leaders are already sounding the alarm and telling us that, if passed, Barack Hussein Obama’s Global Poverty Act will commit us to a stealth United Nations-inspired global tax of $845 Billion dollars… that comes to approximately an $8500.00 tax burden for every household in the United States!

Cliff Kincaid of Accuracy in Media wrote:

“[T]he legislation, if approved, dedicates 0.7 percent of the U.S. gross national product to foreign aid, which… would amount to $845 billion ‘over and above what the U.S. already spends.'”

“The plan passed the House in 2007 ‘because most members didn’t realize what was in it.’ Congressional sponsors have been careful not to calculate the amount of foreign aid spending that it would require.”

Remember the Food for Oil Scandal? Let’s face it; the United Nation’s actual record on ending pain and suffering around the world is pathetic and dismal.

The questions to ask are, first, how much of our money that goes to the United Nations right now actually winds up lining the pockets of third-world dictators and despots? And, second, if Obama’s plan succeeds, how much of his new $845 billion giveaway will end up in those same pockets?

Barack Hussein Obama’s Global Poverty Act MUST be STOPPED! Time is of the essence! Obama’s Global Poverty Act actually has the support of some prominent RINOs such as Senator Richard Lugar and Senate Foreign Relations Committee Chairman Joseph Biden, who just pushed Obama’s world welfare bill out of committee. It could be up for a vote in the Senate AT ANY TIME!

Barack Hussein Obama MUST be stopped. But more importantly, his so-called Global Poverty Act — which has already passed in the House (because most Members simply didn’t know what was in it) and is presently being pushed through the Senate — MUST be stopped.