FINANCIAL CATASTROPHE AT YOUR OWN RISK
PART 1
By: Devvy
September 28, 2004
NewsWithViews.com
"There may be a recession in stock prices, but not anything in the nature of a crash." - Irving Fisher, leading U.S. economist, New York Times, Sept. 5, 1929
Americans are listening to the wrong people about the economy, specifically John Kerry and George Bush, Jr. They constantly talk about our strong economy, how many jobs they will create and how many trillions of dollars they will spend promising the moon to the mob at every campaign stop. This is not unusual. In the last weeks of the 2000 election, Marxist Al Gore, his paid mouthpieces and the great programmer's (TV) high paid experts, were all chanting that Bill Clinton's administration brought America the strongest economy in 50 years. As soon as Gore conceded, the politicians and media began telling everyone Bush is facing a recession and it would be his greatest challenge!
In roughly 34 days, America went from riches to rags. Amazing! But, the signs of an economy in trouble were already there during the Clinton administration and the stress began to emerge: On December 5, 2000, Montgomery Wards, after 75 years in business, announced they would close their doors forever, shutting down 250 stores and 10 distribution centers nationwide. This doesn't happen overnight to a big company like Wards, it takes years. On January 5, 2001 Sears Roebuck announced the closing of 89 stores.
These two retailers had been major staples of America's retail landscape. Thousands of employees were thrown out of work. Consider the trickle-down effect: truckers for both companies would no longer travel, buy gas or have those trucks maintained. Loss of dollars for businesses on their routes. Employees from those two conglomerates end up on unemployment and many on welfare when they couldn't find jobs and their unemployment ran out. Loss of dollars for all ranges of businesses in their local areas. This type of financial deterioration takes years to hit the boiling point.
On December 25, 2000, the business section of the Sacramento Bee has finally exposed something few care about: The utter and complete devastation of our steel industry because of NAFTA & GATT. LTV Corporation, the No. 3 U.S. steel company in America filed for bankruptcy protection, blaming unfair imports for driving steel prices to 20-year lows. The meltdown begun when NAFTA was signed into law in January 1995 continues destroying our critical job bases. We will see more of this meltdown escalate because of these unconstitutional, destructive, global trade treaties.
June 30, 2004 Associated Press: "U.S. Chamber of
Commerce President and CEO Thomas Donohue announced more plans to
promote the offshore outsourcing of jobs as a means of boosting the
economy and even increasing employment --Donohue believes exporting
high-paid tech jobs to low-cost countries such as India, China and
Russia saves companies money that they may use to create new jobs for
Americans....CEOs from Wall Street to Silicon Valley have embraced the
theory, and the pace of offshoring has shocked statisticians and
economists."
That's good for America, right? What bunk. Shipping American jobs overseas to increase the bottom profit line for stockholders is killing the middle class. The above referenced article had more good news for stockholders: "The job outlook in the San Francisco Bay area is particularly bleak. Nearly one-third of local workers, or 31 percent, are worried about losing their jobs." They should be worried. Motorola is hiring 5,000 researchers for a global research and development center in Communist Beijing, while Intel employs hundreds of researchers at its Russia Software Development Center in Nizhny Novgorod. Americans can feel good knowing a commie in Beijing now has their good paying job while they had to take a minimum wage job just to eat, never mind being able to afford medical benefits. But, this is all good for American workers, right?
Probably the most revealing comment in the same article came from Forrester Research Inc., analyst John McCarthy when he said, "Endlessly debating whether off shoring is good or bad is pointless -- like debating whether you've had a good trip on the Titanic while the iceberg comes into view....For the unemployed guy to accept these business leaders position is like believing Dick Nixon saying, 'Trust me, I'll take care of it all, things will be fine.'"
Working against American interests
The U.S. Chamber of Commerce is rabidly anti-American and every single independent business owner in this country should walk away from that organization. I have traveled extensively through the states of the Union and I can tell you I have seen hundreds of towns reduced to nothing because of NAFTA & GATT. Once thriving little communities, these towns are now empty of businesses and commerce, their young being forced into big, crime infested inner cities in an effort to find work. I have seen the despair as factories and farms have shut down. Globalism at work and it will get worse. You can help by buying Made in the USA. Just go to my web site, scroll down and you'll see information on how to do it. I buy made in America or I go without. I will NOT contribute to the further destruction of American jobs just to buy a "thing."
Factually challenged Marxist John Kerry, an old reprobate drug out of the caverns of Congress as the anointed one to represent Democrats in the upcoming Presidential election, continues to deliver more drivel about the economy, i.e., proposing tax reforms that would erase some financial incentives for companies to export high-paid jobs. Kerry's solution is no solution, just more double speak. Bush's solution to a strong economy is shipping more jobs off U.S. soil via "free" trade. If you think I'm just blowing smoke, look at this map and see the truth.
America is moving towards service oriented jobs and those paychecks won't support those big SUV payments and mortgages running close to two grand a month - even with two incomes. If the horrific anti-American Free Trade of the Americas treaty (FTAA) is illegally ratified by our counterfeit Senators, it will spell the death knell for our legitimate Constitutional Republic. Think I'm blowing smoke? This is as serious a threat to our sovereign Republic as we have ever faced since the war for independence.
If the two million textile workers who lost their jobs over NAFTA & GATT and now work for half what they were making before think those treaties are bad, the FTAA will make NAFTA & GATT pale in comparison. Mark my words: America is being reduced to third world status while greedy corporations send good jobs overseas. Sell your stock and don't buy their products; a list of companies is found here under Exporting America. Use market forces to re-establish our critical job bases. Tell retailers you want Made in America or you will take your cash someplace else.
The coming financial crisis that can't be stopped
Make no mistake about it: there is a financial crisis coming that can't be stopped unless drastic measures are taken in the next couple of years. The chances of throwing out every member of Congress (except Ron Paul and Tom Tancredo) are slim to none and this bodes disaster for our nation. The seniors will flock to polls in November to vote for Democrats who have given them "free" prescription pills and motorized carts at your expense. The so-called conservatives will vote for Mr. Bush because he talks about God a lot. In the meantime, the massive invasion of our nation by illegals continues unchecked, our critical job bases are disappearing and our freedoms are going right down the chute of a one world totalitarian government.
America's middle class have continued to vote themselves out of jobs because they vote for the Democratic Party which promises to be "the friend of the worker". Nothing could be further from the truth. Democratic administrations, the same as every Republican administration and every Congress since 1913, has lied to the American people about the voluntary nature of the income tax, withholding from their paychecks, the 100% voluntary nature of social security and a litany of other critical issues.
Poverty is growing in America despite the astronomical amount of taxes being unlawfully bled from the people. Sadly, too many still think their "income" tax funds the federal government, but it doesn't. Because tens of millions of Americans don't have the inertia or intellectual capacity to grasp anything more complicated than the TV guide, they will just continue clanking their chains and allowing the fruits of their labor to be stolen from them. When government steals the fruits of your labor, you are a slave.
There is no reason for poverty in a bountiful land such as America. In 2002, 34.9 million Americans didn't get enough to eat each day; more than 13 million were children. Not through any fault of their parents, but because good paying jobs have been wholesaled off U.S. soil, family farmers have been driven off the land by corporate greed and the FED. Americans have destroyed their own job bases by supporting politicians in Congress who have betrayed this Republic by supporting these destructive and unconstitutional trade treaties. The result is American workers in the bread line while populations of foreign countries now have the jobs that should have stayed here for our people.
I have been telling Americans for the past 14 years what is coming, but few will listen because Americans are too afraid of the truth. They don't want to know what's just over the horizon. They want their material comforts and fun times. A recent article was published that must be read by everyone (here). Carolyn Lochhead has laid it out in frightening detail - all the numbers of what is going to happen in four short years when the baby boomers retire - 77 million of them. The numbers in Ms. Lochhead's article are accurate. There is no money in the U.S. Treasury to fund those numbers. The borrowing by Congress to fund their immoral and unconstitutional wars, UN dues, 18% of the IMFs budget, billions in corporate welfare, trillions in foreign "aid," all these social welfare programs and basic government functions continues to rack up debt at a rate of $1.69 BILLION dollars a day from an empty treasury. Quite a trick.
© 2004 Devvy
Kidd - All Rights Reserved
Devvy Kidd authored the booklets, Why A Bankrupt America and Blind Loyalty, which sold close to 2,000,000 copies. Has been a guest more than 1600 times on radio shows, ran for Congress twice and is a highly sought after public speaker. Devvy is a contributing writer for www.NewsWithViews.com Devvy's web site is: www.devvy.com; is sponsored by USA Gold Vault; e-mail is: [email protected]