# CBO Warns of Financial Crisis



## Denton (Sep 18, 2012)

Yellen, brand new to the job, is declaring that the economy is turning around. Meanwhile, the CBO is warning of a financial crisis on the horizon due to our out of control federal spending and burdensome debt. This, as Boehner says he is teaming with Democrats to extend the unlimited debt ceiling for another thirteen months.
CBO Director: 'Large and Growing Federal Debt' Could Produce 'Fiscal Crisis' | CNS News

Take that article posted above and the article I am about to post, and consider how you are prepping, today. Are you ready for a fiscal crisis like one we have never seen? Consider the consequences of financial chaos in these days when family farming has been pushed out by corporations, more people live in large cities than in rural environments and we have more people living paycheck to paycheck while carrying credit card debt from one month to the next.
This nation is not ready for what might be headed our way.

No Janet Yellen, The Economy Is NOT ?Getting Better?


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## Silverback (Jan 20, 2014)

Some people know what this is, so I will just place this here.


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## Slippy (Nov 14, 2013)

First things first; Silverback, I think your new avatar is OK but was relieved to see the old one still on your page. Somehow, it reassures me that all is well in the world. 

To the thread;

This evil foolish socialist bitch that is now in charge of the Fed will say whatever her handlers tell her to say. She will keep printing money. 

Math, Statistics and Probability take over and the Tipping Point is reached. More freebies will be handed out in the next 3 years and Obamacare will be another lead-foot on the gas pedal to socialism-town. Workforce participation at a low with 90+ Million people between 16-65 not working, 50+ million people on Food Stamps, SNAP, EBT whatever you want to call it, approximately 47% of the working population not paying any income tax and the top earners paying the majority, Social Security underfunded to a huge amount, 17+ Trillion in debt and counting, Unwed Mothers giving birth at astonishing rates, creating yet more takers than makers. 

Young people unemployed at a crazy high rate, Complicit media more concerned about fictitious wars on women, gays, immigrants, blacks, whomever while ignoring the islamists with their political and social doctrine of "taking over the world and converting or killing you"; All the while villifying Christianity. 

Yeah Yellen, everything is fricking fine here you stupid commie.


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## Inor (Mar 22, 2013)

Slippy said:


> First things first; Silverback, I think your new avatar is OK but was relieved to see the old one still on your page. Somehow, it reassures me that all is well in the world.
> 
> To the thread;
> 
> ...


But how do you REALLY feel Slippy?


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## Slippy (Nov 14, 2013)

Inor said:


> But how do you REALLY feel Slippy?


Sorry guys...Snow day = Slow day which leads to politically charged rants here in Slippyville.


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## Inor (Mar 22, 2013)

Peter Schiff had a pretty good video blog on Federal Reserve Runt yesterday.






Is it just me or does Janet Yellen look like one of those midget characters from an early 1960's Disney movie? Whenever she is testifying, I keep expecting Dick Van **** to come behind her, pat her on the head and usher her out the door.


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## SecTec21 (Jul 27, 2013)

Governmental financial irresponsibility is one of, if not the most likely, SHTF event we face in this country. After the SHTF, IMO we should prepare for a two year period when we can't count on stability in our government, our economy, our freedom. I'm not counting a run-up period or a run-out period. What do ya'll think both about the threat and the duration?


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## paraquack (Mar 1, 2013)

When the warm weather returns, could it be too warm to hire?


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## Inor (Mar 22, 2013)

paraquack said:


> When the warm weather returns, could it be too warm to hire?


Of course, everybody knows the economy slows down in the summer. "Sell in May and go away..."


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## PalmettoTree (Jun 8, 2013)

Schiff got a few things wrong. First he puts to much blame on the Fed. The Fed's charter is to control unemployment and inflation. The Fed's charter says to cure unemployment it should increase interest rates. To cure inflation it should increase interest rates. The problem is interest rates cannot fix demand inflation caused by a global (China and India) increase in demand. The Fed cannot decrease unemployment with interest rates when the cause is increases in regulations by the government.

What the Fed has been doing with QE is attempting to keep the number of dollars in circulation within the US. As more and more people in other countries hoard dollars or use dollars for economic transactions there would be fewer dollars for us to transact business within the US.

The spending habits that are out of control is the US government. Why Schiff blames the Fed I do not know but he does no good by failing to identify the root causes of the problem.

Schaffer is correct when he says the minimum wage is making unemployment worse for the young. But that alone will not cure our top heavy economy any more than taxing the rich will. Wealth separation is a result of over government regulation in the US.

When I say over regulation I am not making a judgement on the environmental necessity. That is another discussion. I mean over regulation in this countries compared to countries with less or no real regulations. Companies in the US cannot compete in the job creation arena where other countries are void of regulations.

I am usually universally against taxes. If there could be a tax not driven by politics or government spending there might be a solution. An import tax placed on goods that represent the cost differential between the US and the country of manufactured origin regulation might work. Such a tax must be politically blind and not used to pimp for big labor, big business or government spending. Because this is one unlikely and two contrary to free trade such a tax is a bad idea. The thought does point out the root causes of our current dilemma.


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## Arizona Infidel (Oct 5, 2013)

Not surprising. Of coarse things are going great according to the central bank. Our forefathers warned us about them.


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## ekim (Dec 28, 2012)

So some asshole from the CBO finally says what millions have been saying for years and now it means something, wow!


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## Denton (Sep 18, 2012)

PalmettoTree said:


> Schiff got a few things wrong. First he puts to much blame on the Fed. The Fed's charter is to control unemployment and inflation. The Fed's charter says to cure unemployment it should increase interest rates. To cure inflation it should increase interest rates. The problem is interest rates cannot fix demand inflation caused by a global (China and India) increase in demand. The Fed cannot decrease unemployment with interest rates when the cause is increases in regulations by the government.
> 
> What the Fed has been doing with QE is attempting to keep the number of dollars in circulation within the US. As more and more people in other countries hoard dollars or use dollars for economic transactions there would be fewer dollars for us to transact business within the US.
> 
> ...


I agree with you, right up until you suggested your tax idea was a bad idea. As a matter of fact, that idea is historically correct. A nation should protect its own economy and its own people. All of the nonsense we were fed was nothing but lies, regarding free trade.

Today's notion of free trade has benefited only one group, and that group is the corporations that left the country in order to make a lot more money by manufacturing abroad. Meanwhile, they are also the ones that make sure the regulations in this country hinder anyone who wants to build a company in this country. The deck is stacked in their favor and insufferably against us in this country. There is nothing fair or free about that.

Rather than a federal government that is owned and financed by the several states as it should be, each citizen is directly taxed by the federal government so that it no longer has to respond to the states. Now, it is in full control. Rather than each state's governing bodies sending politicians to D.C., the citizens of those states elect the politicians to go to D.C. Again, the good sense of the founding fathers have been tossed out the window so that federal power can be gained and that power can be controlled by entities much more powerful than the ignorant citizens who brainlessly elect the puppets-for-purchase.

There is no "free" trade, only global corporation control. The only free thing is the free fall the U.S. citizenry are experiencing, and they are too ignorant of history to understand why this is happening.

Import, export and excise taxes are not bad, they merely hinder the desires of those who control the government, and those are not us.


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## Denton (Sep 18, 2012)

While I am on a rant, here is another thing to consider, when pondering our elected idiots.

If this semi-literate, unassuming cracker from the southeastern corner of Alabama can understand such things as a minimum wage set by a federal government, why is it that we think the politicians are no different? Does a start-up or a small business have a chance when the federal government mandate its overhead be even larger? Does it take an economist to understand that the cost of everything must also go up in order to cover the extra cost of doing business? Are we to assume they are too starry-eyed to see such meddling does nothing but hurt prosperity and even make it harder for people to support families while trying to save for the future?

Question is, why are we so stupid that we can't see that these same politicians are multimillionaires and that they are more interested in their own lifestyles than our nation's future?


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## PalmettoTree (Jun 8, 2013)

Denton:

My view is not quite as jaundice as yours. But I understand your points and can not dispute the reality of your position in general. I do believe the free trade as we have it today reduced prices to consumers. At the same time destroyed jobs for those employed in the US making those products. I do agree that minimum wage laws keep a large segment from working because they do not have the ability to earn that wage.

One reason I responded is my frustration with these so called experts. They are wrong on fact too often. The more controversial or play to the ignorance of the masses the more attention they get. That results in more ignorance. It is my opinion that the only chance the average guy has today is found in ones ability to think for ones self. This is why I have been kicked off so many discussion groups. (I'm getting off the subject sorry.)

I am generally against taxes because the government cannot be trusted. All other things being equal use taxes, sales taxes and import taxes are better than income and property taxes.

I try not to focus too much on things I cannot change. I see my personal task is to profit from the situation as I find it. I spend and invest to the best interest of my family. I vote to the best interest of my country. I pray The I pray The Lord gives me the strength to do it honestly.


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## ekim (Dec 28, 2012)

PalmettoTree said:


> Denton:
> 
> My view is not quite as jaundice as yours. But I understand your points and can not dispute the reality of your position in general. I do believe the free trade as we have it today reduced prices to consumers. At the same time destroyed jobs for those employed in the US making those products. I do agree that minimum wage laws keep a large segment from working because they do not have the ability to earn that wage.
> 
> ...


IMO, your attitude is part of the reason things won't get better. What things can't the people change if they really want to, "all" if they don't try. Thinking for your self does no good if you keep it to your self. We the people need to think, tell the government what we think and then demand the government make it so. If talking doesn't get it done then other means "must" be used to get government under control and working for the people again or be eliminated/replaced. If people here don't like what America is and should be there are plenty of screwed up third world countries they can go to. Why should America become a lesser country just to make some lazy people happy and others rich without working for it. Many have tried talking to the government and got shit for the effort, time to prove the point as to who is in control.


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## PalmettoTree (Jun 8, 2013)

ekim said:


> IMO, your attitude is part of the reason things won't get better. What things can't the people change if they really want to, "all" if they don't try. Thinking for your self does no good if you keep it to your self. We the people need to think, tell the government what we think and then demand the government make it so. If talking doesn't get it done then other means "must" be used to get government under control and working for the people again or be eliminated/replaced. If people here don't like what America is and should be there are plenty of screwed up third world countries they can go to. Why should America become a lesser country just to make some lazy people happy and others rich without working for it. Many have tried talking to the government and got shit for the effort, time to prove the point as to who is in control.


Last I looked this board was about "survival." Survival means many things two of which are living to fight another day and strengthening ones self to fight better. I vote and advocate for a Constitutional Republic. You say you speak for the people. I say the people have spoken. Your thinking is a minority view. Your view, Denton and my views of how things should be are minority views. I wish it was not so but it is. The people are getting exactly what they voted for. You might say many did not vote. I say they are the most stupid of all.

You think I'm the problem and I think you are foolish. I look at things as how they are and say how can I better things for me and my family while advocating for a better way.

Your position that I should sacrifice the best interest for me and mine so things will be better for you and yours. That is nothing more than socialist thinking in a halloween costume.

My plight is not in the government's hands, your hands or any one else's. My polite is in my hands. That may be a problem for you but that is your fault not mine.


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## ekim (Dec 28, 2012)

PalmettoTree said:


> Last I looked this board was about "survival." Survival means many things two of which are living to fight another day and strengthening ones self to fight better. I vote and advocate for a Constitutional Republic. You say you speak for the people. I say the people have spoken. Your thinking is a minority view. Your view, Denton and my views of how things should be are minority views. I wish it was not so but it is. The people are getting exactly what they voted for. You might say many did not vote. I say they are the most stupid of all.
> 
> You think I'm the problem and I think you are foolish. I look at things as how they are and say how can I better things for me and my family while advocating for a better way.
> 
> ...


I dis agree that your plight is not in the government's hands. As it appears that the government thinks it is and so it seems the governments action tend to bear that out. You still must pay taxes for the government to run, by law you must have insurance, the government is telling you what you can eat in a round about way, the government is telling you that you must help pay for others to have things you work for, etc. so go ahead and say it's all up to you and try to talk your way out of complying with government demands. I'm not asking you to give up anything you have, just don't bury your head and say you have control, if you have control, why are you prepping and on this forum. Does that mean you feel you are completely self sufficient and have everything you need and no longer pay taxes, provide all your needed power and food. I say BS, you may want to be that way but very few are even close.


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## PalmettoTree (Jun 8, 2013)

My point is everything the government does or requires gives me at least two OPTIONS.. The point is; we are still the freest country. Everyday we can weigh the cost benefit of remaining in or being a citizen of the US.

None of the things you listed puts my plight in anyone's hands but my own. Take insurance for example. The only insurance that is mandatory is liability insurance if you want to own a car. You can get a DL without insurance. No doubt the public agrees with a liability requirement. Why would you want to risk everything by not having liability insurance? 

There are plenty of government requirements I disagree with but government does not control me.

One can cry poor poor pitiful me or find a way around, over or through life's obstacles.


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