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Wednesday, December 15, 2010
The Only Thing That Will Save Us Now Is Fear Itself
from USACTION NEWS
The Only Thing That Will Save Us Now Is Fear Itself: "
The Only Thing That Will Save Us Now Is Fear Itself: "
Our government is bankrupt, its deficit is insurmountable, and at both the federal and state levels, we’ve run up more debt than can possibly be repaid. This isn’t a political thing; it’s a numbers thing. Either everything I’ve ever learned about math and economics is wrong, or we’re on the verge of going down.
By Herbert E. Meyer at American Thinker
The only possible way to come through safely — and even so, the odds are against us — will be to frighten ourselves so badly that we’ll be willing to do things that in normal times we simply could not imagine doing.
It’s obvious to anyone who’s looked honestly at the numbers that we’re about to go down into a sea of red ink. You don’t need a Nobel Prize in economics to understand this. All you need is a simple, back-of-the-envelope calculation to see that the federal government is hemorrhaging money so fast our economy must inevitably seize up, which will crash the dollar overseas and turn a national disaster into a global catastrophe. The financial situation is even worse in states like California and New York.
[DEBT CLOCK]
And when all this happens, as it must, the unemployment rate will soar beyond its current miserable level. Millions of working-age Americans will lose both their jobs and their homes, and millions of retired Americans will lose the pensions they believed were guaranteed and which they depend upon to get through each month. The nation’s health care system will collapse for lack of money no matter what plans the politicians in Washington, D.C., Sacramento, and Albany concoct. And our children’s generation will be condemned to a standard of living far below what we’ve enjoyed and come to believe is our right.
And that’s why the only thing that can possibly save us now is fear itself.
None of us likes the idea of going out and frightening our neighbors. But fear is a powerful motivator, and sometimes using it is the only way to make people face reality. We’re very nearly out of time, but this is still the United States, and we Americans have always managed to accomplish the impossible just when it seemed that all hope was lost.
FULL ARTICLE
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"Spain credit rating review by Moody’s hits euro
from USACTION NEWS
Spain credit rating review by Moody’s hits euro: "
Spain credit rating review by Moody’s hits euro: "
The euro has fallen against key currencies after a credit rating agency said it may downgrade Spain’s debt.
BBC News
EXCERPTS:
Moody’s put Spain’s rating on review – citing concerns about its mounting debt and its funding needs for next year.
Spain has been under financial market scrutiny since the Irish Republic was forced to take an aid package of 85bn euros (£72bn; $113bn) last month.
The news pushed the euro down by 0.5% against the dollar to to $1.3312, while it also fell 0.2% against the pound, with one euro worth 0.8462 pence.
Moody’s cut Spain’s sovereign debt rating from the top, triple-A rating to Aa1 in September.
After the Irish Republic’s bail-out, Portugal was tipped by many as the next casualty, with questions also raised over Italy’s economy, as well as Spain’s.
FULL ARTICLE
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This guy is in charge of the economy?
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"Tuesday, December 14, 2010
Surprise! Wikileaks employs holocaust denier and deranged anti-Semite
from Beltway Confidential
Surprise! Wikileaks employs holocaust denier and deranged anti-Semite: "Michael Moynihan at Reason reports that the Wikileaks organization has some rather unsavory employees:
Last week, I wrote that the widely-linked article positing that the CIA was behind a Swedish woman’s accusation of rape against Julian Assange was authored by a Russian-born, Swedish-domiciled, multi-aliased anti-Semite and...
"
Surprise! Wikileaks employs holocaust denier and deranged anti-Semite: "Michael Moynihan at Reason reports that the Wikileaks organization has some rather unsavory employees:
Last week, I wrote that the widely-linked article positing that the CIA was behind a Swedish woman’s accusation of rape against Julian Assange was authored by a Russian-born, Swedish-domiciled, multi-aliased anti-Semite and...
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