Wall Street greed demise the US and the world economy.
Since 2008, Home and business foreclosures have destroy the American dream and thousands of US cities. As property values drop due to foreclosures, cities had lost billions of dollars in revenue, this developed a dysfunctional fiscal system, the revenues from property tax are not enough to pay for the vital service for these communities; this revenue crisis due to the foreclosures and lost of property values will continued and will drive many US cities into bankruptcy, these cities will have to cut expenses on education, police force, maintenance on infrastructure and increase taxes; unemployment will rise and will worse the economy crisis in these cities and create an exodus to other states and foreign countries where the economy is better.
During the last 10 years we have experienced a steady devaluation of the dollar via government borrowing to fund the wars, giveaways to major banks, unions and all manners of economy stimulus. This economy catastrophe was predictable, our government spending left us with this huge deficits, the largest in history,(15.7 Trillions Dollars) a debt too large to be repaid and our creditors know it; but Washington won’t quit, the only economy solution for them is more of the same, economy stimulus plans and the Obama health care; Obama and Congress keeps this spending frenzy that without a doubt will demise our country. Washington’s spending now at 185% of receipts, a vibrant economy is not enough to bridge the gap. Our government simply must reduce its expenditures. New taxes will never be enough and would only serve to kill any reviving economy.
From 2008 to 2011 we had more than 14.7 million foreclosures, 2012 will be the worse year for foreclosures and the economy policies of the Obama administration will make our economy worse, our country can not continue printing more Dollars to pay for the Obama's foreign and domestic agenda; this printing of Dollars and the Federal Reserve Bank low interest program will make the Dollar to devaluate, our foreign creditors who fund our deficits will be paid back in increasingly worthless paper and create a world inflation that will decrease the purchasing power of people world wide and the most affected will be the poor working class.
The US Federal Reserve Bank strategy to devaluate the Dollar and promote a world inflation will be taken as a default on the US Government debt and we will not be able to continue the sales of U.S. Treasury securities that are backed by worthless monopoly money that we print at will to cover our debt. Today we import about 80% of what we consume, this devaluation will increase prices on every thing we import and any tangible assets that is marketable, homes, gold, autos and most other assets and the only ones that will benefit are the ones that control these assets; the big banks control most of the assets in this united states, this small group of powerful insiders know when to sell hight and buy low because they control the money supply that create bubbles and the conditions to burst the bubbles; what has just happened with the oil and gold prices is an example of the power of the insiders who rule the USA and the world.
Dr. Ron Paul, he knows what is going on and for many years he has exposed this Federal Reserve Bank conspiracy to destroy our country, but the main stream news media that is own by multinational corporations has brainwashed the American people and made us believe that every thing is OK in our country and hide the truth from the people, that is why Americans are in complete denial of what is going to take place in our country very soon, the complete economy meltdown and the destruction of our country.
God save us from our own demise. Expose the traitors and get ready to get our own justice, because we can not depend on this corrupt government any more.