Austerity In America: 22 Signs That It Is Already Here And That It Is Going To Be Very Painful

Posted: January 18, 2011 in Current Events, Economic Views, Financial Fraud, Ongoing Criminal Activity

The Economic Collapse Blog posted an article called “Austerity In America: 22 Signs That It Is Already Here And That It Is Going To Be Very Painful”.   Well folks austerity is going to be painful and worse austerity will do nothing to solve the problem.  I do believe the US needs to cut spending, however if you do not fix the real problem then it doesn’t matter how much you cut.  What is the real problem?  The real problem is the $1.5 quadrillion in worthless derivatives, much of which is now on the US Treasury balance sheet or in your pension plan. The other major problem is none of the criminal banksters who caused the problem have gone to prison, confidence will not be restored until the criminals that caused this nightmare go to prison. 

Both parties will likely have bipartisan agreement in slashing social security along with many other drastic cuts in the very near future.  Isn’t it ironic that social security “fails” right at the time baby boomers are ready to retire and take advantage of the money they put into the system.  Here is the dirty little secret about social security, it was designed to fail after robbing us blind utilizing “IOU’s”.  There was never any intention on paying out Social Security or reimbursing IOU’s.  Welcome to the USA ran by criminal banksters.  Banksters have used this same formula in coutless countries around the world.  When the economy finally goes into complete collapse banksters will buy up much of the key infrastructure, real estate, food supply, etc. with money they created for FREE out of thin air.  What an advantage criminal banksters have in our corrupt system.  Remember this famous quote?

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Thomas Jefferson

Below are a few facts found on the Economic Collapse Blog.  The full article can be found at the bottom of this post.

#1 The financial manager of the Detroit Public Schools, Robert Bobb, has submitted a proposal to close half of all the schools in the city.  His plan envisions class sizes of up to 62 students in the remaining schools.

#2 Detroit Mayor Dave Bing wants to cut off 20 percent of the entire city from police and trash services in order to save money.

#3 Things are so tight in California that Governor Jerry Brown is requiring approximately 48,000 state workers to turn in their government-paid cell phones by June 1st.

#4 New York Governor Andrew Cuomo is proposing to completely eliminate 20 percent of state agencies.

#5 New York City Mayor Michael Bloomberg has closed 20 fire departments at night and is proposing layoffs in every single city agency.

#6 In the state of Illinois, lawmakers recently pushed through a 66 percent increase in the personal income tax rate.

#7 The town of Prichard, Alabama came up with a unique way to battle their budget woes recently.  They simply stopped sending out pension checks to retired workers.  Of course this is a violation of state law, but town officials insist that they just do not have the money.

#8 New Jersey Governor Chris Christie recently purposely skipped a scheduled 3.1 billion dollar payment to that state’s pension system.

#9 The state of New Jersey is in such bad shape that they still are facing a $10 billion budget deficit for this year even after cutting a billion dollars from the education budget and laying off thousands of teachers.

#10 Due to a very serious budget shortfall, the city of Newark, New Jersey recently made very significant cuts to the police force.  Subsequently, there has been a very substantial spike in the crime rate.

Full Article Here


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