Free - Beyond Collapse

Wednesday, May 20, 2009

The US Economy: For Whom the Bell Tolls...

The economic crisis we are faced with is of staggering proportion. The promise of real change in Washington has somehow evaporated. The people called in to advise our new administration are too close to the problem to offer any real benefit to our well intentioned president. They say the solution is to give huge mountains of money to the bankers, investment and insurance firm CEO's and the occasional auto manufacturer, in order to head off an economic catastrophe.
We now wonder how all this money helped the average person who has been trying to hang on to his or her business in the hopes that things turn around. These people are the American people. People who have worked hard all of their lives for a chance at the American dream which now is more like an American nightmare. The stimulus package is now being distributed to help create jobs across the country. However, these jobs won't last, for the work they supply is only temporary. Manufacturing capacity has not been returned to our shores, but yet we are told to go out and take out more loans and spend more. When the stimulus package is gone we will be in exactly the same place but just with much more debt and a little bit older.
The states are scrambling to figure out how to provide services to their residents. Skyrocketing unemployment, welfare and medicaid services are increasing the states expenditures while the foreclosures of local real estate, diminishing consumer sales and losses of municipal investments have decreased the states overall income. States will soon find it impossible to provide the same level of services and will start cutting back or raise taxes. School days will probably be cut to four days a week from five for public schools and class size will increase. Cutbacks in police, fire and other state personnel and early release of prisoners will be some of many areas that will be considered to save state money. California is currently teetering on the edge of bankruptcy and will probably ask for its own bailout but I fear that it won't be alone.
As taxation is inevitable so will protests by the people. More and more discontent will appear as protests and tax revolts on your local news outlets. Families with small children that can no longer rely on their children being in school all five days will be forced to reduce their income because of the prohibitive price of childcare. These actions will only cause the consumer to spend even less. Businesses that are on the verge of collapse will cease to exist.
The next major issue is the collateral damage sustained to the commercial real estate market. Have you all noticed all those empty stores in you towns and local malls. The car dealers that are closing these huge pieces of property. Someone owns these properties. No business, No income. Do not forget the mortgage payments and taxes that will be due on all these properties. Many of these properties will unfortunately foreclose and the banks, now more small and local banks, will be inundated with bad debt yet again and the mortgage backed securities that contain these mortgages will be a loss for investors.
The last nail in the coffin will be a combination of the above and the fancy mortgages that will reset in the fall of this year and continue to add to the burden till 2012. You thought the sub prime loans were bad. You ain't seen nothing yet. These are called the option ARMs and Alt-As. This is an area were the Government can help by stepping in and telling the banks that these mortgages will not reset with a higher rate and the banks will have to eat the loss. I doubt President Obama's advisers will even present this option, being so close to the industry and all. As the printing presses continue to run the value of the dollar will plummet and hyperinflation will become a reality. Oil and all other commodities will skyrocket and the country will plunge into chaos.
So what do we do? If real change is not taken soon it will surely be to late. No more bailouts for corporations and banks and reduce the size of the federal government. Implement congressional and senate terms limits. Abolish corporate special interest. End the wars and bring our soldiers home. This does not mean we let business run amok. We need to protect the citizens of this great country from the greedy hands of the banksters and corporate CEO's from Walmart to American Express. We need to heal this nation and treat all members of this land and the world with respect and dignity, and not some modern day slave in a cubicle.
We need to find out what our individual callings are and open the doors to those dreams. People that have aptitude and love for a particular calling will always prove better quality than those motivated by greed. If someone has the aptitude and passion to be a physician, by god lets get him trained for free as was once done. He will be less inclined to seek excessive reimbursement if he has no debt to pay. The cure for cancer won't come from an investor, they profit too much from the disease to find a cure. The cure will come from someone who loves to discover. We need to bring back our agricultural society and abolish big agrifarm corporations. it is the farmer that is the heart and conscience of our land and the guardians of a healthy food supply. We would all be much happier and better off contributing to our world by doing what we love doing.
Our apathy and inaction will be our undoing. The fall approaches, time is short and the bell tolls for thee.


  1. Pessimism is a painful state of mind which negatively colors the perception of life, particularily with regard to future events. If everyone in America thought the way this author thinks we would be in a FAR, FAR worse situation than we are now going forward.


    The demise of a civilization is a process, not an event. So, our national economic decline is a trend many decades in the making. In all likelihood, it will continue for many more decades, if we are lucky. It will not, however, be easy. This trend speeds up and slows down with contemporary developments and passing personalities (politicians). It marches on with time.

    One suggested date of possible symbolic significance is the Winter Solstice: December 21, 2012. It has been forecasted by astronomers, contemporary and ancient, that the planets will align themselves in a way only seen once every 21,000 years. Much speculation has been visited upon the meaning of this event. Many refer to it as a gateway to a "transition".

    I doubt it will be the end of the world, but it sure will be beyond the everyday normal, that is for sure. It is possible the world banking system will totally collapse, and mobs of angry account holders and investors will storm the headquarters of various banks, such as U.S. BANK in Minn. with pitchforks and torches. Like the angry mobs assaulting the castle in the classic movie “Frankenstein”, the monster was driven into the countryside and eventually hunted down like an animal. Bankers or anyone who is dressed in a suit and in the vicinity of a downtown bank could find himself in jeopardy. It would be wrong time, wrong place. Food for thought.

  3. FYI, it was the week after I sent this email, I was served a warrant for my computer, and ‘literature related to America’
    Subject: URGENT – I think I am a witness to fraud at subsidiary of RBS/me forrest gump again.
    Date: Sat, 28 Mar 2009 04:56:31 -0500

    well if the FSA cant figure out from what is written in the paragraphs below that Sir Fred was possibly DIRECTLY involved in massive mortgage fraud, well, that explains everything really, doesnt it?

    of course, maybe it is routine for Sir Fred to force us bank managers to sign off on huge loans above and beyond the value of the assets. I dont know, I only witnessed one.

    And now I am personally stuck in the uk. nightmare. no one can help me with that. Of course, if these accusations i am making(cos I cant get my hands on proof, I am banned from USA for 20 years for absolutely no reason…) are made public, perhaps Sir. Freds US friends will want to prosecute me, and of course, in that instance, this Govt will then assist them by then allowing them to extradite me. Unlikely I would get a fair trial. White-water crap. The lady that ran those prosecutions is the one that falsified docs to get me deported! George Bush relative.

    What a pile of shit. As a senior executive assistant this is not the first Manager I have had in the last 20 years that has been led away in cuffs by the Feds!! But Britain is still trying to figure out what happened here….OBVIOUS FRAUD!! If Sir Fred took an advance of 2 mil on his pension already, I BET my life he DIDNT deposit it in RBS, or Anywhere that Britain can claw it back.

    You are right, why should I care. I just want to go home. I don’t want to be stuck here on benefit so you can support me. But sometimes I realise what was going on around me.

  4. Subject: RE: URGENT – I think I am a witness to fraud at subsidiary of RBS/me forrest gump again.
    Date: Fri, 27 Mar 2009 15:53:04 +0000
    Dear Ms Gates-Carreon,

    I have read your email and must admit I am at a loss to know what to write to you. I am unsure of how the FSA can assist you in what must be a distressing turn of events for you. If you could explain what it is you expect of the FSA then I may be able to advise you further.


    Colin Tanner
    Financial Crime and Intelligence Division

    From: Josie Gates []
    Sent: 23 March 2009 16:23
    To: Whistle
    Subject: URGENT – I think I am a witness to fraud at subsidiary of RBS/me forrest gump again.
    RBS owns Citizens, which bought Charter One Bank Chicago IL

    I worked for Charter One Bank in Chicago USA from Sept 07 – May 08. I supported the president of the Bank. During this time, as he said, he had five different bosses in one year, so he didnt really know what to do…..except hide in the bathroom going grey rapidly, while earning 1.6 mil a year. looking back, it was like bribe money to go from 400K in 07 to 1.6mil in 08, as a raise to keep your mouth shut about stuff that doesnt add up. But I dont know for sure why he got such a huge raise. I know the bank wasnt really performing at all.

    In Nov? a large mortgage lands on his desk, (Millions) as a refinance on a property (not worth those millions) for some bank customer. Wisely the head of mortgages (XXXXXX) brings it to my boss XXXXXX, as it dont add up, and Bernie doesnt want to sign it at all. But it has come thru from head office….Citizens/RBS.

    At first my manager XXXXX XXXXXXX, doesn’t want to sign off on it, ..he calls around in a panic, asking various execs why he has to sign off on it, as he is President of the Bank for the State of Illinois, and he is saying that he never usually has to sign off on these things….(because the mortgages usually add up, with the value of the asset being sufficient to cover the loan etc) – …..And everyone my boss tries to ask, responds that it’s because Sir Fred says my boss has to sign off on it, and that he Fred, knows these people, friends of his, to go above and beyond the ordinary rules to sign off on this one…..

    So that is one more toxic asset that is now owned by the British tax payer.

    Then I was dragged away by masked men and eventually deported. I am sorry, but this is ALL true (and if I could get back into the office I could find the documentation for you) but because I can’t get any help at all in this country, I have posted it all on

    Joseen Gates-Carreon

    AND THEN IN UK THE WARRANT WAS SERVED ON ME – less than a week after this.

  5. The Federal Reserve should have been abolished when Nixon took us off the gold standard. Now these bankers have taken over the US gold reserve and continued to issue fiat money loaned to the US government. The US government then has to collect tax(Federal Income Tax)to pay for the principal plus interest on this stupid loans. The USA is not a sovereign state. By selling their souls to private bankers our leaders are the worst of its kind in the history of mankind. The Federal Reserve System is the fundamental flaw of the US economy that affects every aspect of human lives.