The taxpayers ALWAYS get screwed. I was talking to a liberal neighbor the other day about all of the bailouts and pork spending. He couldn't seem to grasp the concept that the government's money comes right out of the taxpayers pockets. I find it truly fascinating how they think (or don't think).
actually that is not totally true. As of today we have taken in $4.7 trillion in taxes and spent $6.4 trillion in actual spending. And this does not include the massive deficits in all the unfunded entitlement programs (Soc Sec, Medicaid, Medicare etc.) and that total is another $192 trillion dollars. Currency/Derivative contracts (insurance contracts in case of currency default) globally are about $2 quadrillion. That's 2,000 trillion dollars. The GDP of the entire planet is just over 100 trillion dollars. We are hopelessly in debt and just balancing the budge won't fix a thing or stimulating the economy by cutting govt won't fix it either more conservative pro American BS. It's too late the hand writing is already on the wall.
This is exactly what I was told by my B of A friend. The smaller banks collapse and will be swallowed up by the bigger banks until only 4-5 banks will be rescued. The banking collapse has already started. It will reach a point of sudden collapse or we pull the trigger and blame someone for it.
I heard a news blip yesterday on Yellow Trucking going bankrupt and shutting down. They somehow managed to spin it that it, that it had nothing to do with the economy. Instead, they blamed it on poor management, which could be partially true. They did reassure listeners that it would not effect the supply chain because all of their shipping was being absorbed by other companies. I sure hope that's true.
As for the banks, well that's a whole other kettle of fish, isn't it? I believe that this is the start of a complete and total collapse of our economy, our currency and our lifestyle. If you still have money in the bank or the stock market, for the love of all things Holy, get it out NOW!
"Another bank that has de facto collapsed is the Central Bank of the USA, the Federal Reserve. Yes its true! The Federal Reserve is completely and hopelessly insolvent. The Fed’s own financial statements show that their unrealized losses amount to over $910 billion. Given the fact the Fed has only has $42 billion in capital, this means that America’s central bank, on a mark-to-market basis. has a net financial position of negative $868 billion!
Then please consider the interest payments on the federal debt in 2023 will exceed $750 billions and the 2024 projected federal deficit will exceed $1.5 trillion, while the nation's GDP-to-debt ratio exceeds 125%. The federal government is caught in the Keynesian debt trap. The final stage before currency collapse by hyperinflation or default.
So Yellow got 700 Million during Covid scam. Anyone expect Yellow to pay any of it back? Taxpayers get screwed again. !
The taxpayers ALWAYS get screwed. I was talking to a liberal neighbor the other day about all of the bailouts and pork spending. He couldn't seem to grasp the concept that the government's money comes right out of the taxpayers pockets. I find it truly fascinating how they think (or don't think).
actually that is not totally true. As of today we have taken in $4.7 trillion in taxes and spent $6.4 trillion in actual spending. And this does not include the massive deficits in all the unfunded entitlement programs (Soc Sec, Medicaid, Medicare etc.) and that total is another $192 trillion dollars. Currency/Derivative contracts (insurance contracts in case of currency default) globally are about $2 quadrillion. That's 2,000 trillion dollars. The GDP of the entire planet is just over 100 trillion dollars. We are hopelessly in debt and just balancing the budge won't fix a thing or stimulating the economy by cutting govt won't fix it either more conservative pro American BS. It's too late the hand writing is already on the wall.
This is exactly what I was told by my B of A friend. The smaller banks collapse and will be swallowed up by the bigger banks until only 4-5 banks will be rescued. The banking collapse has already started. It will reach a point of sudden collapse or we pull the trigger and blame someone for it.
I heard a news blip yesterday on Yellow Trucking going bankrupt and shutting down. They somehow managed to spin it that it, that it had nothing to do with the economy. Instead, they blamed it on poor management, which could be partially true. They did reassure listeners that it would not effect the supply chain because all of their shipping was being absorbed by other companies. I sure hope that's true.
As for the banks, well that's a whole other kettle of fish, isn't it? I believe that this is the start of a complete and total collapse of our economy, our currency and our lifestyle. If you still have money in the bank or the stock market, for the love of all things Holy, get it out NOW!
"Another bank that has de facto collapsed is the Central Bank of the USA, the Federal Reserve. Yes its true! The Federal Reserve is completely and hopelessly insolvent. The Fed’s own financial statements show that their unrealized losses amount to over $910 billion. Given the fact the Fed has only has $42 billion in capital, this means that America’s central bank, on a mark-to-market basis. has a net financial position of negative $868 billion!
Then please consider the interest payments on the federal debt in 2023 will exceed $750 billions and the 2024 projected federal deficit will exceed $1.5 trillion, while the nation's GDP-to-debt ratio exceeds 125%. The federal government is caught in the Keynesian debt trap. The final stage before currency collapse by hyperinflation or default.