In order to understand the present, one must look to the past and attempt to follow the intent and direction of decisions made that result in where we are today.
- “In politics nothing happens by accident. If it happens, it was planned.” – Franklin D. Roosevelt
- “Power tends to corrupt and, absolute power corrupts absolutely. Great men are almost always bad men.”– Lord Acton
- “Unlimited power is apt to corrupt the minds of those who possess it; and this I know, my lords, that where laws end, tyranny begins.”- William Pitt The Elder
This is the opening commentary, in what will be a series of articles attempting to connect the dots from specific decisions made in the past, to the resultant situation we find ourselves in today. This will be a lengthy and sometimes complicated journey as we attempt to deconstruct the web of deception and ill-fated idealism that has brought us to present day America.
I look forward to finding out just how far down this “rabbit hole” we can travel. There will most certainly be strange twists and turns along the way and I must be willing to accept things, that I do not wish to accept, in order to find the truth of where we are today.
I look forward to sharing that journey with those of you who choose to follow along with me.
What’s Dead (Short Answer: All Of It)
Just so you have a short list of what’s at stake if Washington DC doesn’t change policy here and now (which means before the collapse in equities comes, which could start as soon as today, if the indicators I watch have any validity at all. For what its worth, those indicators are painting a picture of the Apocalypse that I simply can’t believe, and they’re showing it as an imminent event – like perhaps today imminent.)
* All pension funds, private and public, are done. If you are receiving one, you won’t be. If you think you will in the future, you won’t be. PBGC will fail as well. Pension funds will be forced to start eating their “seed corn” within the next 12 months and once that begins there is no way to recover.
* All annuities will be defaulted to the state insurance protection (if any) on them. The state insurance funds will be bankrupted and unable to be replenished. Essentially, all annuities are toast. Expect zero, be ecstatic if you do better. All insurance companies with material exposure to these obligations will go bankrupt, without exception. Some of these firms are dangerously close to this happening right here and now; the rest will die within the next 6-12 months. If you have other insured interests with these firms, be prepared to pay a LOT more with a new company that can’t earn anything off investments, and if you have a claim in process at the time it happens, it won’t get paid. The probability of you getting “boned” on any transaction with an insurance company is extremely high – I rate this risk in excess of 90%.
* The FDIC will be unable to cover bank failure obligations. They will attempt to do more of what they’re doing now (raising insurance rates and doing special assessments) but will fail; the current path has no chance of success. Congress will backstop them (because they must lest shotguns come out) with disastrous results. In short, FDIC backstops will take precedence even over Social Security and Medicare.
* Government debt costs will ramp. This warning has already been issued and is being ignored by President Obama. When (not if) it happens debt-based Federal Funding will disappear. This leads to….
* Tax receipts are cratering and will continue to. I expect total tax receipts to fall to under $1 trillion within the next 12 months. Combined with the impossibility of continued debt issue (rollover will only remain possible at the short duration Treasury has committed to over the last ten years if they cease new issue) a 66% cut in the Federal Budget will become necessary. This will require a complete repudiation of Social Security, Medicare and Medicaid, a 50% cut in the military budget and a 50% across-the-board cut in all other federal programs. That will likely get close.
* Tax-deferred accounts will be seized to fund rollovers of Treasury debt at essentially zero coupon (interest). If you have a 401k, or what’s left of it, or an IRA, consider it locked up in Treasuries; it’s not yours any more. Count on this happening – it is essentially a certainty.
* Any firm with debt outstanding is currently presumed dead as the street presumption is that they have lied in some way. Expect at least 20% of the S&P 500 to fail within 12 months as a consequence of the complete and total lockup of all credit markets which The Fed will be unable to unlock or backstop. This will in turn lead to….
* The unemployed will have 5-10 million in direct layoffs added within the next 12 months. Collateral damage (suppliers, customers, etc) will add at least another 5-10 million workers to that, perhaps double that many. U-3 (official unemployment rate) will go beyond 15%, U-6 (broad form) will reach 30%.
* Civil unrest will break out before the end of the year. The Military and Guard will be called up to try to stop it. They won’t be able to. Big cities are at risk of becoming a free-fire death zone. If you live in one, figure out how you can get out and live somewhere else if you detect signs that yours is starting to go “feral”; witness New Orleans after Katrina for how fast, and how bad, it can get.
The good news is that this process will clear The Bezzle out of the system.
The bad news is that you won’t have a job, pension, annuity, Social Security, Medicare, Medicaid and, quite possibly, your life.
It really is that bleak folks, and it all goes back to Washington DC being unwilling to lock up the crooks, putting the market in the role it has always played – that of truth-finder, no matter how destructive that process is.
Only immediate action from Washington DC, taking the market’s place, can stop this, and as I get ready to hit “send” I see the market rolling over again, now down more than 3% and flashing “crash imminent” warnings. You may be reading this too late for it to matter.
12-year-old steals day with pro-life speech
Teachers threaten disqualification, but girl chooses to speak against abortion
Posted: February 16, 2009
8:36 pm Eastern
By Chelsea Schilling
© 2009 WorldNetDaily
Despite facing threats of disqualification, a 12-year-old girl took first place in a speech contest when she eloquently argued for the rights of unborn children – after an offended judge quit.
“What if I told you that right now, someone was choosing if you were going to live or die?” the seventh-grader begins in a video recording of her speech on YouTube. “What if I told you that this choice wasn’t based on what you could or couldn’t do, what you’d done in the past or what you would do in the future? And what if I told you, you could do nothing about it?”
The girl, a student at a Toronto school identified only as “Lia,” continued:
“Fellow students and teachers, thousands of children are right now in that very situation. Someone is choosing without even knowing them whether they are going to live or die.
“That someone is their mother. And that choice is abortion.”
But what made the 12-year-old choose to speak about abortion?
“It was really a family thing,” her mother explained on the blog Moral Outcry. “I saw Lou [Engle] speak at a conference several years ago. I came back to my family with the Life Bands, and we all wore them, made our covenant, and prayed the prayer for abortion to end. … We were invited to participate in a ‘Life Tape Siege.’ Once my kids heard of this invitation, they all agreed: ‘We have to do that!’ Since then, Lia’s passion for seeing abortion end has continued.”
(Story continues below)
The point of the matter is a simple one.
The Presidency of the United States is THE ONLY OFFICE that is required, by the Constitution, to be occupied by a genuine “Natural Born Citizen.”
#1) – Natural Born means that both of your parents MUST be “citizens” (not natural born by the way but “citizens”) of the United States.
#2) – Your birth MUST occur within the Unites States of America.
Barack Obama’s father was a Kenyan citizen and therefore a citizen of Great Britain, which really isn’t even THAT important. What IS important is that Barack Obama SR was NOT a US Citizen.
That’s it. End of story. Over.
Although Barack Obama MIGHT actually be a “citizen” of the United States (and if so he could easily provide the proof by releasing the vault copy of his birth certificate) he does not qualify as a “NATURAL BORN” citizen.
The framers of our Constitution SPECIFICALLY made the point that only “NATURAL BORN” citizens could occupy this nation’s highest office. Once they made that decision, they realized that they had disqualified themselves to hold that office because THEY didn’t meet the requirement that they were intending to set forth. So they included one provision that would make them, and their generation, eligible to hold this office. They simply added “at the time of the signing” of this Constitution.
So unless Barack Obama SR was a US citizen OR Barack Obama JR is AT LEAST 232 years of age, HE DOES NOT QUALIFY under the “NATURAL BORN” status and is therefore ineligible to hold the office of President of The United States.
There’s nothing to argue over. Either the Supreme Court upholds and defends the Constitution or they don’t. It’s in their hands now. All we can do is wait and see.
It was October of 1960 when Soviet Premier Nikita Khrushchev visited the United Nations. On October 16, 1960, he addressed the UN prior to his departure and return to the Soviet Union. In closing his speech that day, he made the famous proclamation that the US would be defeated without a shot being fired.
What did he mean by that? Did he believe that the Soviet Union would figure out how to take over the United States without a shooting war taking place? Of course not. What he spoke of was the idealism of the Soviet Union. Is it any wonder that American hero Joseph McCarthy was an integral part in rooting out the communists that had infiltrated our government at about the same time? In fact, I am certain that Khrushchev’s bold assertiveness, at the UN that day, was a result of the actions taken by the Senate in regards to Joseph McCarthy’s campaign to root out communists within our own Federal Government. Say what you will about Joseph McCarthy but in my book, he was a true American Hero.
In my attempt to trace the lines of the past to illustrate where we are today, I will be making small posts with basic facts and general opinions (most of which are my own). In some instances I will jump forward in history several years and in others I will revert back into history for several years. As I write, it will allow the reader to begin researching the times, in regards to the state of world affairs at that specific time period, and draw from that research his or her own conclusions. But I think that if we observe and understand those periods of time for what they were and realize how they affected where we are today, we will all come up with very similar conclusions as to what role each event played in the progression of where we are today.
That’s all for now. I look forward to your input.