The End Of An Empire And The Beginning Of A Depression

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Since the end of World War 2, the United States has been the leading military power and the leading economic power on the entire globe.  The U.S. has had the largest economy in the history of the world, the U.S. dollar has been used by nearly all of the nations on earth as a reserve currency and the U.S. military has had a physical presence in most of the countries on the planet.  Today, the U.S. military is in approximately 130 different nations and it has a total of about 700 military bases around the world.  But just like the Roman Empire, the U.S. empire has become overextended and it is starting to decline.  Most of our politicians believe that we can continue to “police the world” and project our power to every corner of the globe, but the more we meddle the more the rest of the world hates us and the worse our financial problems get.  America is now swamped with debts and our influence is fading.  The truth is that what we are witnessing is the end of an empire and the beginning of a depression.


Over the past decade, the wars in Iraq and Afghanistan have cost U.S. taxpayers well over a trillion dollars.

So what have we gotten in return for a trillion dollars?

In Afghanistan, we haven’t even found the one man we supposedly went there to look for – Osama Bin Laden.  It defies comprehension how a man with a really bad kidney disease can hide in caves and evade the most powerful military on earth for nearly a decade.

But at least we got rid of the Taliban and set up a good form of government, right?

Oh yeah, we set up a really wonderful government.  For example, they recently arrested a one-legged Afghan Red Cross worker and sentenced him to death for converting to Christianity.

Fortunately there was enough of an international outcry that Said Musa was not hung, but the fact that the Afghan government wanted to string him up is enough to show that we have completely failed over there.

The same thing is true in Iraq.  Yeah, we may have gotten rid of Saddam, but the nation is now in far worse shape than before we went in.

Before the war Christians felt safe in Iraq.  Now large numbers of them are fleeing Iraq as fast as they can.  More than 80 Iraqi Christians were recently beheaded on a single day.  All the Christians were trying to do was attend a church service.

Now we are involved in a third war in the Middle East.  Even though Libya was no threat to the United States, Obama felt compelled to stick our nose into a chaotic civil war.

Now it looks like our involvement in Libya could last for a very, very long time.

In a joint op-ed piece in the New York Times, Barack Obama, David Cameron and Nicolas Sarkozy declared that NATO military operations in Libya will not end until there is a regime change….

However, so long as Qaddafi is in power, NATO must maintain its operations so that civilians remain protected and the pressure on the regime builds. Then a genuine transition from dictatorship to an inclusive constitutional process can really begin, led by a new generation of leaders. In order for that transition to succeed, Qaddafi must go and go for good.

So exactly who are we “helping” in Libya?

It turns out that we are providing “air cover” for many of the same people who were shooting at our troops in Iraq.

Yes, you read the correctly.

According to The Telegraph, the leader of the Libyan rebels is even admitting that his “troops” include jihadists that were firing bullets at U.S. troops in Iraq….

Abdel-Hakim al-Hasidi, the Libyan rebel leader, has said jihadists who fought against allied troops in Iraq are on the front lines of the battle against Muammar Gaddafi’s regime.

What type of government do you think they are going to set up once this is over?

And all of this meddling is turning the rest of the world against us in a big way.

Most Americans don’t realize just how much hatred there is for America in the rest of the world.  There are millions upon millions of people out there that now hate us with every fiber of their beings, and every time we bomb someone else world opinion turns against us even more.

Sadly, our meddling goes well beyond the three wars we are currently fighting.  The truth is that the U.S. military is actively “conducting operations” in dozens of different countries.

For example, most Americans don’t even realize what the U.S. is doing in Pakistan.

How would you like it if a foreign power was conducting missile attacks inside the United States over the objections of our national leaders?

Well, that is what we are doing in Pakistan and we are going to continue even though Pakistani officials are adamantly objecting.

According to AFP, the CIA intends to continue conducting operations in Pakistan no matter what the Pakistani government says….

The Central Intelligence Agency has no plans to suspend “operations” in Pakistan against terror suspects despite objections from leaders in Islamabad, a US official said Thursday.

This approach to foreign policy is absolutely foolish.  Attempting to have an “iron grip” on the rest of the world is only going to cause the rest of the world to deeply hate us and deeply resent us.  We like to think of ourselves as “do gooders” but most of the rest of the world considers us to be tyrannical.  Eventually the rest of the world will lash out at us.

In addition, maintaining our vast empire is bankrupting us.

As I have written about previously, U.S. military spending is wildly out of control.  The truth is that U.S. military spending is greater than the military spending of China, Russia, Japan, India, and the rest of NATO combined.

The United States already accounts for 46.5% of all military spending in the world.  China is next with only 6.6%.

Just one day of the war in Afghanistan costs more money than it took to build the entire Pentagon.

So will reducing military spending solve all of our financial problems?

Of course not.

In fact, if you eliminated every penny of military spending we would still have a gigantic budget deficit.

And that is another reason why our empire is dying.

The United States has the biggest debt problem in the history of the world.

Right now the U.S. government is over 14 trillion dollars in debt.  Our debt is increasing by over 2 million dollars every single minute.

Our politicians are running up the national credit card as if there will never be any consequences.

But a very serious day of reckoning is coming, and when it arrives the rest of the world is not going to be in the mood to help us.

It is being projected that by 2021, the U.S. will be paying $1.1 trillion a year just in interest on the national debt.

So how big is a trillion dollars?

Well, if you were alive when Jesus was born and you spent a million dollars every single day since then, you still would not have spent a trillion dollars by now.

Our national debt is now at a tipping point.  A recently revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.

So what are our politicians doing about it?


During the last election, the Republicans made a “pledge” to the American people to cut $100 billion from the 2011 budget if they were elected.

Then once they got in they told us that $61 billion would be enough.

Then John Boehner gave in and agreed to cut the 2011 budget by only $38.5 billion.

Well, now it turns out that even the $38.5 billion figure was not even real.

According to the Congressional Budget Office, the “budget deal” will only slash $352 million (with an “m”) from the 2011 budget.

That is less than one percent of the $38.5 billion figure that was announced.

No wonder so many Tea Party activists are now declaring that John Boehner must go.

In the end, our politicians do not intend to do anything about our runaway debt.

The Democrats will shut down the government rather than allow serious cuts to social programs or entitlements.

The Republicans will never allow serious cuts to the military and they are pushing for even more tax cuts.

So how in the world is U.S. government debt ever going to be brought under control?

The sad news is that it is not going to be.  It is just a matter of time before a great U.S. debt crisis strikes.

But the U.S. is not the only one with a debt crisis.

The European debt crisis just seems to get worse with each passing month.  The bonds of several European nations have been significantly downgraded in recent weeks.

According to the Wall Street Journal, Moody’s actually downgraded Irish debt by two levels on Friday….

Moody’s Investors Service Inc. downgraded Ireland’s government debt by two notches Friday, taking the country to the brink of junk status, and kept its outlook negative.

Things are getting scary.

Bond yields all over Europe are going through the roof.

A year ago, the yield on 10-year Portuguese bonds was hovering around 5%.  On Friday it reached 9.0%.

A year ago, the yield on 10-year Irish bonds was also generally in the neighborhood of 5%.  On Friday it closed at 9.7%.

But that is nothing compared to what is happening to Greek debt.  On Friday, the yield on 10-year Greek bonds skyrocketed to an astounding 13.83%.

Yes, a depression is getting a little bit closer every single day.

Things don’t look good in Asia either.  Prior to the recent tsunami, the Japanese economy was the third largest economy on the entire globe.

But there are now very serious questions about whether or not Japan will ever fully recover from what has just happened.

The mainstream media has been really downplaying the economic damage that has been done to Japan, but eventually the truth will become clear.  In a previous article, I contended that this was essentially a “death blow” for the Japanese economy….

The tsunami that struck Japan on March 11th swept up to 6 miles inland, destroying virtually everything in the way. Thousands upon thousands of Japanese were killed and entire cities were wiped off the map. Yes, Japan is a resilient nation, but exactly how does a nation that is already drowning in debt replace dozens of cities and towns that are suddenly gone? The truth is that thousands of square miles have been more completely destroyed than if they had been bombed by a foreign military force. The loss of homes, cars, businesses and personal wealth is almost unimaginable. It is going to take many years to rebuild the roads, bridges, rail systems, ports, power lines and water systems that were lost. Nobody is quite sure when the rolling blackouts are going to end, and nobody is quite sure when all of the damaged manufacturing facilities are going to be fully brought back online.

If all that wasn’t bad enough, the nuclear crisis at Fukushima just seems to get worse by the day.

According to the Los Angeles Times, seawater near the Fukushima nuclear complex was recently found to contain “iodine-131 at 7.5 million times the legal limit”.

Authorities in Japan recently upgraded the crisis at Fukushima to a “level 7” nuclear disaster, and almost everyone is finally acknowledging that this crisis is as bad or worse than Chernobyl.

Many now fear that vast portions of northern Japan may end up being uninhabitable after all this is over.  The health effects and the economic effects from this nightmare are going to be felt for the rest of our lives.

But even if all of the things above were not happening, the rapidly rising price of oil could potentially be enough to push the world into a depression.  The entire global economy is predicated on the ability to consume gigantic amounts of very cheap oil.  Nobody has ever been able to prove that the global economy can continue to function normally if the price of oil stays above $100 a barrel for an extended period of time.

When oil goes up, people start staying home.  Certain types of economic activity become unprofitable.  The cost of transporting all goods increases.  The amount of money being transferred out of the U.S. economy and into the hands of oil barons soars.

The average price of a gallon of gasoline in the United States is now $3.81.  It is about a dollar higher than it was at this time last year.

If the price of oil stays where it is right now, the global economy can probably handle it, at least for a while.  However, if it explodes up to $150 or $200 a barrel it is going to unleash hell on world financial markets.

The world is becoming a very unstable place.  The U.S. empire is crumbling and the global financial system is on the verge of a nightmare.

Hopefully the rest of 2011 will not be as eventful as the first part has.  We could use some global peace and stability for a while.  Unfortunately, that is probably not going to be the case.

Liberty Metals

  • Gary

    I am so happy that Obama is advocating taxing the rich. He really smacked down Ryan (unfortunately my rep) and put the Eddie Munster look alike in his place.

    I called his office and said he needs to shut the hell up and do what Obama says. Every time he opens his mouth he embarrasses WI.

    The choices are clear-repube plan-take from the poor and give to the rich or the Dems plan where we tax the rich and make them pay as they were a major cause of the republican great recession.

    The rich will be taxed hard. Obama is just firing the opening salvo. If the scumbag rich do not like it they can move to Somalia-they wont have to put up with all the government meddling or pay taxes.

  • Dear Mr. President,

    Welcome to the ashbin of history.

    With the speech you gave this week, you have firmly and permanently put yourself in the same garbage bag as all the other communists and socialists of the 20th century.

    Your speech sounded like the faint echo of a speech Lenin gave in an icy square in Moscow 100 years ago.

    The promises you made, Mr. President, about the government giving people things they can’t provide for themselves – a better income, reliable health care, an advanced education, cheaper mortgages, a “shiny, happy” life – have been made time and time again… sometimes by speakers even better than you.

    And they have always been lies.

    While the government can demand obedience (and taxes), it can’t mandate dedication, creativity, or innovation. The fact is, the government itself is nothing more (or less) than the organized ambitions of the people. Promising something to the people that they don’t already have is a logical absurdity. And therein lies the timeless flaw of all collectivist theory: Governments cannot deliver benefits to the people that the people cannot deliver to themselves.

    To demonstrate this truth, consider this example… Governments cannot simply mandate higher tax revenue. Any substantial increase to tax rates will reduce total collections, an economic phenomenon known as the “Laffer Curve.” This has been proven countless times in our country and many others. Any sensible person will immediately understand why. Taxes are a disincentive. The higher the marginal rate of tax, the more powerful its impact.

    That’s why, over many decades (and many different tax structures), U.S. tax revenues have been remarkably stable at around 20% of GDP. That’s why, as you surely know, Mr. President, changing the tax code will not result in increased tax revenue. Taxing only the rich simply doesn’t work. It never has. And it never will. To increase the government’s revenues, we must first increase the size of the economy. The government cannot tax what the economy doesn’t produce.

    In another time, most Americans might have simply ignored your speech as the ignorant remarks of yet another handsome, Ivy League-educated, dilettante president. But at this point in our history, my bet is people are going to take you far more seriously than you expect. In fact, I think you’re going to get what you deserve – the trash heap. Why will Americans turn on you so rapidly and so completely?

    Two things have changed – forever – about American politics.

    The first is the media and access to critical information. It’s no longer possible for a president’s administration to control what people read, see, and think by simply managing the evening news broadcasts.

    Thus, all your lies are now exposed almost instantly and broadcast to millions of people via websites and services like the Drudge Report, Twitter, and Facebook. Socialism cannot possibly survive over any long period of time in a society with a free media – because socialism is based on a lie. Facebook means the “half-life” of socialism is now weeks instead of years. Even mainstream publications like the Wall Street Journal have called you a liar this week. They have no choice. Your lies were broadcast to the entire world long before their op-ed pieces appeared.

    Your advisors told you none of these “bloggers” mattered. All you had to do was promise more benefits to more voters and then force fewer voters to pay for it all. I’m sure you did the political calculus… You believed your power to bribe and bamboozle the poor and the ignorant was stronger than the resentment you’d engender among the “rich.” And I must admit… since at least World War II, that’s been a safe bet in American politics.

    But you forgot one critical factor: We simply can’t afford this nonsense anymore…

    Immediately after your speech, the price of silver went from $39 to a new high above $42. Gold went up, too.

    These are signs, Mr. President, that the world is losing confidence in our currency. If our foreign creditors were to call in our debts, America would suffer an economic cataclysm unlike anything we’ve ever seen in our entire history. Americans now owe a total of $56 trillion. Without the Fed’s money-printing, it’s unlikely we could afford even the interest on these existing debts… much less the $1.5 trillion or more in debt you continue to rack up year after year by promising benefits we haven’t earned.

    Sooner or later, our foreign creditors are going to decide our money-printing amounts to a default, and they will stop buying our bonds. On that day, everyone who trusts you, everyone who believes in your lies, will be wiped out.

    But that won’t be as many people as you expect.

    Almost every American knows in his heart what made this country great for the 200 years between 1776 and 1976. It wasn’t the lies of our presidents. It wasn’t our ability to print money and rip off our Chinese creditors. It wasn’t the modern crybaby mentality of our school system or our unions. It wasn’t the baby boomer’s dream of a 40-year retirement with free prescription drugs. And it sure as hell wasn’t a suave, made-for-TV version of Karl Marx promising everything to everyone, but with no way to pay for it.

    No. What built America was her people’s unwavering faith that they were free to enjoy the rewards of their accomplishments.

    As our country tumbles into bankruptcy and crisis, the people are going to want their prosperity back, Mr. President. And deep down, they all know… even your most fervent supporters know… you don’t have the goods. You don’t have the foggiest idea of how to deliver prosperity to America because, really, you don’t know anything of what America is all about.


    Porter Stansberry

  • William

    With the start of the immoral, illegal and unnecessary war of choice in Iraq, the USA has pursued EMPIRE at the request, or demand, of a foreign country. Do you know which country that is?? The problem is that the USA can NOT afford EMPIRE. In fact, it is this pursuit of EMPIRE that has ruined America and caused the wild increase in spending and the attendant stunning increase in DEBT. So, in a nutshell, the pursuit of EMPIRE is the direct cause of the economic nightmare that is coming for YOU. The Smirking Chimp and war criminal Bush is not so funny now, is he??

  • Terry

    The rest of the world will help the USA resolve our debt problem.We will not like how it turns out, but our military overreach will be curtailed at the same time.
    I am a proponent of a strong defense, but the reality is that we do not have the money to continue the adventures we are now pursuing.
    People worry whether we could win a conflict with China. What are we going to do? Ask them to loan us the money to buy the bombs we will drop on them?
    If the gold is still in Fort Knox (many believe it is not), I would hope that we would be very cautious about spending it on military adventures. Unlike our present fiat dollars, gold can only be spent once, and cannot be replaced using a printing press. We would actually have to produce something of value in order to aquire more. The rest of the world will not pay all of us to manage their 401(k) or flip houses for them.

  • mondobeyondo

    A slight twist on Ronald Reagan’s famous words… “We’re the United States of America, and we’re here to help!”

    Well, not really. Yeah, we’ll help you, but first – we’ll just help ourselves!! (i.e. OIL, gas, food, OIL, minerals, gold, diamonds, OIL, etc), and leave you with whatever’s left, after we’re done raping and pillaging your country. We’ll give you a pro-U.S. dictator to rule over your helpless population. If he/she doesn’t like what we tell them to do, we’ll just sponsor a coup d’etat, or chase the leader or king out of office (with a plane ticket to Switzerland), overthrow them (Allende, Chile, 1973), or just kill them (Saddam, Iraq, 2003). It’s getting a little prickly with that Gaddafi guy, but don’t worry, we’re working on it. He’ll be gone soon.

    That is the American foreign policy that Miss Hillary won’t tell you. And besides, we can’t even help our own people sometimes! Does “Katrina” ring a bell?

    We have this habit of exporting “democracy” to everyone, especially little oil rich Arab countries. Don’t like or don’t want democracy? You’ll get it anyway, because we’re the USA and we know what’s best for you! We’ll send in our military and “liberate” you! Oh yeah, we’ll also grab some oil from you in the meantime. But we get wet feet when countries like Iran or North Korea rattle their sabers. Hmmm.

    I don’t know what happened. 100 years ago, America was not like this. Maybe it’s true that “absolute power corrupts absolutely”. The more power you have, the more power you want to have. Our government is like Leonardo Di Caprio on the deck of the Titanic, screaming “I’m the king of the world!” Except our government now wants to be emperor of the universe.

    Not so fast. The NASA shuttle program is on its last legs, and no new space transport is being developed. So, better to stick with being king of the world. *sigh* Mark my words (with a Sharpie pen, hee!) The U.S. will never return to space again. At least, not in a government sponsored way.

    Just my $3.86 worth… (just enough to buy a gallon of gas!) – Thanks for letting me vent!

  • Did you hear Morgan Stanley defaulted in Japan the largest default in the Japanese history? I think they may know something we don’t about Japan. Long past time someone starts calling this a depression and pointing out Obamavilles are popping up all over. Funny how we hear little now about the cost of all the Wars we can’t afford and shouldn’t be sticking our noses into. Thanks for all the great reports.

  • Gary2

    Let me set everyone straight. Taxes on the rich WILL be raised and their ill gotten wealth WILL be shared. Obama’s wonderful speech is just the beginning.

    Even many right wing pundits are conceding Obama creamed the right and is likely to win reelection in 2012. Yes people stupidly voted for the right in 2010 and are now realizing their errors. Even boner sold the tea party out. These stupid tea baggers do not realize they are simply cannon fodder for the Koches and that the Koches don’t give a rip about their conservative social agenda. I can almost feel sorry for these tea bagger dupes.

    I am so very proud of our president. I want my country back from the horrible and destructive policies of the repubes where all they do is take from the poor and give to the rich.

    I will give Paul (Eddie Munster) Ryan credit-the choice is now crystal clear- we can have a selfish oligarchy America where a “I got mine to hell with you” way of thinking or we can take back our country and be the America Obama wants where we help each other and not be so I focused but rather we focused.

    You repubes are toast and the tide will turn way against you. I am predicting we will even get a new New Deal which will turn America back into the wonderful country it was before Reagen started destroying it.

    There are a TON of people who agree with how I think and we will vote. We are already planning for 2012 and we will win.

  • paulie

    The U.S. Corporation debt is increasing $5 mill./min.

  • Ron Paul has been warning us about all these problems for over 30 years.I hope you all are listening now?

  • SmokyMtnlady

    When will you start using the brains the good Lord gave you?? This is NOT a right vs. left, Dems vs. Repubs fight!! This is a fight to take the United States of America right down the toilet!! Good grief, people like you sound so ridiculous!!! Obama is a fool, just like Bush was a fool!! And stop blaming the “rich” for all the problems in the country! There are some really hard working, fair minded rich people out there who deserve what they have….they’ve earned it by working for it! Unlike others (you, perhaps??) who want to sit on their ever expanding backsides and get everything for “free”…off the backs of the tax payers!!
    People like you make me sick!!

  • I think you’re underestimating the U.S. debt.
    The so-called “war on terrorism” has been costing about a $trillion per year from 2001 onwards.
    Add to that all the bailouts.
    Add to that the fact that the Fed printed another $21 trillion and gave most of it away to foreign banks… we only just found out about that because of the one-time audit allowed by the toothless Frank-Dodd bill.
    Add to that the fact that the Fed is purchasing some 80% of all treasury bills… with money they print… at interest to the government… so they can be paid interest on the treasury bills.
    Most of the “income taxes” the IRS is collecting from us is going to pay interest on the national debt.

    That said… with the Fukushima disaster having long range effects in the manufacturing and farming sectors, and the corporate quarterly reports coming out at the end of June… you all really need to get your assets out of paper. Get your pensions and 401Ks out of the stock market… pay the 10% income tax and invest the rest in your survival strategy. It looks like the “meltdown” is going to happen late this summer or early fall.

  • Mike

    Hey Gary2, are you from Janesville, Wisconsin?

  • Carl Jones

    The cost of these wars is not the reason for US decline and debt. However, these wars arw funded by debt. This debt will take a long time to pay off and they have not begun to pay it off. Yet, this money has been spent principally in the US and the US government has raised taxes from this spend (debt).

    Now lets imagine that these wars were not faught?? Then this money will most likely have not been spent…OK, that is less debt, but can YOU imagine the present state of the US economy, without this spending??

    Globalisation…the rape of the West by a tiny elite, has actually lead to the creation of these contrived war mechanisms.

    Its like a business owner who is suffering, so he burns a property down so he can collect the insurance money.

    Things are becoming so bad, that WW3 is a logical future construct.

  • As several commentators have mentioned, the government is going to target the rich. But, that won’t be enough to cover the deficit, so middle income earners will also be pressured. We can see it already with the slow pace that the IRS is giving tax refunds to people who overpaid. And, of course, inflation will continue to retire a portion of the debt.

    I suggest voting with your feet because it’s more effective than voting in a ballot booth. Imagine living with a responsible government like Hong Kong, in a Mediterranean climate like California. Chile offers a combination of pleasant climate and fewer government burdens than many others. If you’re ready to shed the debt your government has imposed upon you, it is a good destination to consider:

  • A Dodgy Bloke

    This is the best post in many a moon, insightful, sober, and takes a broad view. I think despite the ill informed ramblings of one poster (So far). This is the death of Globalism, and the Welfare State, and debt based Consumerism we will see the rise in Tribalism, and fractioning of the nation state.
    People have to understand as Brian Tracy once said “Government takes all the power but leaves you with ultimate responsibility”. Government will not save you how many of you have ever got a job from a poor person. Government can only take and destroy and phrases like “spread the wealth” may give some people warm fuzzes in the short run in the long run it only brings dependence and misery.

  • “one official said. The idea was to stay out of sight, avoid finger pointing, and allow negotiators to work out a compromise” —- Yeah, that’s CHANGE all right. Now we have a leader who wants to stay above the debate and scold the congress for taking too long. This is NOT leadership, its more like failing to get involved. We are all falling to the greatest depression ever…

    We help Americans find jobs and prosperity in Asia. Visit for details.

  • El Pollo de Oro

    One of my favorite libertarian/paleoconservative commentators is Justin Raimondo, publisher of—and as Signore Raimondo (who neocons absolutely despise) has often pointed out, empires are not sustainable in the longrun. History bears that out. France, Spain and England once had empires, but giving them up has saved them a lot of tax dollars. The Soviet Union had an empire, but the Soviet Union collapsed (just as Gerald Celente predicted it would). The Roman Empire was powerful at one time, but that was before the fall of the Roman Empire. And now, The Banana Republic of America (the Third World basketcase that used to be the United States) is an empire headed for collapse. From Justin Raimondo, Ron Paul, Gerald Celente and Alex Jones to Dennis Kucinich and Ralph Nader, smart people of many different political stripes realize that this country cannot afford an empire. But imperialist neocons (also spelled “neoKKKons”) won’t give up their empire fantasies. As much of a war hawk as Obama has been, Dick Cheney’s ghoulish little daughter Liz Cheney and an imbecile by the name of Sarah Palin think he isn’t imperialistic enough—and that type of mind-boggling insanity tells you just how truly twisted and delusional neocons are. Imperialism carries a heavy price tag, and the BRA has a staggering federal deficit. Who is going to pay for the imperialist empire that Liz Cheney, Bill Kristol, David Horowitz and other neocon nutcases long for? The uber-rich don’t like to pay taxes, the American middle class (the IRS’ favorite cash cow) is on life support, and the poor (who are becoming the majority) have very little to tax. So how, in God’s name, can the BRA continue to pay for an empire? It can’t.

    Like empires of the past, The Banana Republic of America is headed for a total collapse—and all the flag-waving in the world won’t change that. The idiots who are running around shouting, “USA, USA, USA!” now will be saying, “Please feed me” when they’re up against the cruel reality of going hungry. God help the rotting, decaying, collapsing Third World horror movie that is The Banana Republic of America (formerly the USA).

  • Gary2

    Porter Stansberry

    You are wrong on so many levels I do not know where to start. Pretty much the opposite of what you said is true.

    We have your hated socialism for the rich and corporations but harsh capitalism for the rest of us.

    Simply look at Western European and the Scandinavian countries. They are more socialists then we are and score higher in just about every category-length of life-college graduation etc etc etc.

    These are facts that you can Google and see for your self.

    What made our country great was helping each other out by taxing the rich hard and spreading the wealth. Conservative=selfish.

  • Thanks for this distressing but honest article! Indeed the United States show many symptomes of a falling imperium, but its fall will be a shock to the whole world. It is shocking, how the truth is replaced by lies, how ruthless people are killed in several illegal wars and how the government tries to cover the real facts.

  • Attn Gary2:

    According to Porter and The National Taxpayers Union, the Rich are already paying most of the taxes in the USA. You should move to Western Europe if you want a free lunch!

    Adjusted gross income and percent of federal taxes paid in 2008

    AGI Top 1% – 38% of federal taxes
    AGI Top 5% – 59% of federal taxes
    AGI Top 10% – 70% of federal taxes

  • Bigbird

    Bigbird tells Cookie Monster … SHUT UP! Obama’s “wonderful” speech?!? Get real!! As the lady says above, this ain’t no left vs. right or any other give a crap about your yap, fight; this is a puppet who the elitist put in to serve their agenda to where even the leftist on The Black Agenda have thrown him under the bus as not only does he not care for the rights of the working man, much less the black working class (to paraphrase Glen Ford)! If you want to worship a teleprompter reader, why don’t you follow The Undertaker, or HHH …at least that is supposed to be entertainment! This reality crap sucks; as much as your opinions on Repugnantcans BAD, Demicruds …GOOD!

    Oh yeah, BTW, $500,000 a year might look mighty good to most of us, but that is NOT RICH! Try the Wall Street cronies with their unreal bonus’ and those corporations like GE that pay ZERO taxes! With Obama’s blessing!! What about the PTB that are worth billions and trillions and pay no taxes (like David Rockefeller – except when he writes a check out of the kindness of his heart – to paraphrase!)!

  • Commy Tommy

    Hey Gary!

    Me and you should get together and start the Soviet Union up again. Those were the days.

  • Remember those famous parting words of Ike, when he said, “BEWARE THE MILITARY-INDUSTRIAL COMPLEX.”

    Succeeding Americans failed to heed the warning—and succeeding Americans WILL pay the price.

  • Mr Carpenter

    OK so, Gary2, you are entitled to an opinion, but sorry if the actual real world facts from 6000 years of human history get in the way of your dream-world.

    Here you are debating Porter Stansbury, who is a wealthy individual who has been a boon and a help to poor, middle class and wealthy alike – in his highly beneficial statements and advice, and who are you, Gary2? From what most of us can gather, you seem to be a typical late 20th/early 21st century socialist progressive Democrat who apparently “feels” (i.e. uses emotion in place of logic) that everyone else seems to owe people such as yourself a living just because God granted us a place on earth with you!

    Guess again!

  • Mr Carpenter

    BTW, Gary2? Have you ever been to any of these “socialist paradises” you speak so highly of? I’ve lived in one before – taxation was onerous. Read: high. Services were less than stellar. Read: crap. I injured my arm on vacation, went to the doctor in the European nation with “health care for all” and it took a YEAR to see a specialist. There simply was no way that is acceptable. That’s just one tiny example to show you that in the real world, you haven’t a clue what YOU are speaking about.

  • Guido

    Hey, Gary, this one’s for you and all your Socialist buddies.

    So you think that money is the root of all evil? Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?

    When you accept money as payment for our effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears nor all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor, your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money. Is this what you consider evil?

    Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions, and you’ll learn that man’s mind is the root of all the goods produced and of all the wealth that has ever existed on earth.

    But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man’s capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made, before it can be looted or mooched, by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produce.

    To trade by means of money is the code of the men of good will. Money rests on the axiom that every man is the owner of his mind and his effort. Money allows no power to prescribe the value of your effort except the voluntary choice of the man who is willing to trade you his effort in return. Money permits you to obtain for your goods and your labor that which they are worth to the men who buy them, but no more. Money permits no deals except those to mutual benefit by the unforced judgment of the traders. Money demands of you the recognition that men must work for their own benefit, not for their own injury, for their gain, not their loss, the recognition that they are not beasts of burden, born to carry the weight of your misery, that you must offer them values, not wounds, that the common bond among men is not the exchange of suffering, but the exchange of goods. Money demands that you sell, not your weakness to men’s stupidity, but your talent to their reason; it demands that you buy, not the shoddiest they offer, but the best that your money can find. And when men live by trade, with reason, not force, as their final arbiter, it is the best product that wins, the best performance, the man of best judgment and highest ability, and the degree of a man’s productiveness is the degree of his reward. This is the code of existence whose tool and symbol is money. Is this what you consider evil?

    But money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. It will give you the means for the satisfaction of your desires, but it will not provide you with desires. Money is the scourge of the men who attempt to reverse the law of causality, the men who seek to replace the mind by seizing the products of the mind.

    Money will not purchase happiness for the man who has no concept of what he wants: money will not give him a code of values, if he’s evaded the knowledge of what to value, and it will not provide him with a purpose, if he’s evaded the choice of what to seek. Money will not buy intelligence for the fool, or admiration for the coward, or respect for the incompetent. The man who attempts to purchase the brains of his superiors to serve him, with his money replacing his judgment, ends up becoming the victim of his inferiors. The men of intelligence desert him, but the cheats and the frauds come flocking to him, drawn by a law which he has not discovered: that no man may be smaller than his money. Is this the reason why you call it evil?

    Only the man who does not need it, is fit to inherit wealth the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir: his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one, would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve the mind that cannot match it. Is this the reason why you call it evil?

    Money is your means of survival. The verdict you pronounce upon the source of your livelihood is the verdict you pronounce upon your life. If the source is corrupt, you have damned your own existence. Did you get your money by fraud? By pandering to men’s vices or men’s stupidity? By catering to fools, in the hope of getting more than your ability deserves? By lowering your standards? By doing work you despise for purchasers you scorn? If so, then your money will not give you a moment’s or a penny’s worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame. Then you’ll scream that money is evil. Evil, because it would not pinch-hit for your self-respect? Evil, because it would not let you enjoy your depravity? Is this the root of your hatred of money?

    Money will always remain an effect and refuse to replace you as the cause. Money is the product of virtue, but it will not give you virtue and it will not redeem your vices. Money will not give you the unearned, neither in matter nor in spirit. Is this the root of your hatred of money?

    Or did you say it’s the love or money that’s the root of all evil? To love a thing is to know and love its nature. To love money is to know and love the fact that money is the creation of the best power within you, and your passkey to trade your effort for the effort of the best among men. It’s the person who would sell his soul for a nickel, who is loudest in proclaiming his hatred of money, and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it.

    Let me give you a tip on a clue to men’s characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it.

    Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. So long as men live together on earth and need means to deal with one another, their only substitute, if they abandon money, is the muzzle of a gun.

    But money demands of you the highest virtues, if you wish to make it or to keep it. Men who have no courage, pride or self-esteem, men who have no moral sense of their right to their money and are not willing to defend it as they defend their life, men who apologize for being rich, will not remain rich for long. They are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of the guilt, and of his life, as he deserves.

    Then you will see the rise of the men f the double standard, the men who live by force, yet count on those who live by trade to create the value of their looted money, the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statues are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law, men who use force to seize the wealth of disarmed victims, then money becomes its creators avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

    Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion, when you see that in order to produce, you need to obtain permission from men who produce nothing, when you see that money is flowing to those who deal, not in goods, but in favors, when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you, when you see corruption being rewarded and honesty becoming a self-sacrifice, you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.

    Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked:Account overdrawn.

    When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ;Who is destroying the world?? You are.

    You stand in the midst of the greatest achievements of the greatest productive civilization and you wonder why it’s crumbling around you, while you’re damning its life-blood, money. You look upon money as the savages did before you, and you wonder why the jungle is creeping back to the edge of your cities. Throughout men’s history, money was always seized by looters of one brand or another, whose names changed, but whose method remained the same: to seize wealth by force and to keep the producers bound, demeaned, defamed, deprived of honor. That phrase about the evil of money, which you mouth with such righteous recklessness, comes from a time when wealth was produced by the labor of slaves, slaves who repeated the motions once discovered by somebody’s mind and left unimproved for centuries. So long as production was ruled by force, and wealth was obtained by conquest, there was little to conquer. Yet through all the centuries of stagnation and starvation, men exalted the looters, as aristocrats of the sword, as aristocrats of birth, as aristocrats of the bureau, and despised the producers, as slaves, as traders, as shopkeepers, as industrialists.

    To the glory of mankind, there was, for the first and only time in history, a country of money, and I have no higher, more reverent tribute to pay to America, for this means: a country of reason, justice, freedom, production, achievement. For the first time, man’s mind and money were set free, and there were no fortunes-by-conqust, but only fortunes-by-work, and instead of swordsmen and slaves, there appeared the real maker of wealth, the greatest worker, the highest type of human being ? the self-made man, the American industrialist.

    If you ask me to name the proudest distinction of Americans, I would choose, because it contains all the others, the fact that they were the people who created the phrase “to make money”. No other language or nation had ever used these words before; men had always thought of wealth as a static quantity, to be seized, begged, inherited, shared, looted or obtained as a favor. Americans were the first to understand that wealth has to be created. The words “to make money” hold the essence of human morality.

    Yet these were the words for which Americans were denounced by the rotted cultures of the looters’ continents. Now the looters’ credo has brought you to regard your proudest achievements as a hallmark of shame, your prosperity as guilt, your greatest men, the industrialists, as blackguards, and your magnificent factories as the product and property of muscular labor, the labor of whip-driven slaves, like the pyramids of Egypt. The rotter who simpers that he sees no difference between the power of the dollar and the power of the whip, ought to lean the difference on his own hide as, I think, he will.

    Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns, or dollars. Take your choice, there is no other, and your time is running out.
    -Francisco D’Anconia

  • Gary

    Western Europe will be Islamic in a few years. Muslim women were able to have (8) babies a pop, while white socialist European women only averaged (1.5). It would seem that the favorite past time of white people these days is Russian Roulette. Thanks for all of the free health care.

  • buck

    @ Suzanne,you stated:

    “pay the 10% income tax and invest the rest in your survival strategy”.

    Exactly! I’m working in that direction and I hope not too late. I guess it is a chance one takes. I would rather pay the corrupt government a 10% penalty and of course the income tax from the “income” received from the 401k than lose it all and have nothing to show as in like you mentioned “your survival strategy”. Buy food today because tomorrow the dollar bill may buy very little if anything.

    I think if a person opens their mind to the origins of the Fedearl Reserve and how it was created to protect the banking cartel, then observe how shortly after the Federal Income Tax came into being, then sprinkle in the hoax of 401k investment it all makes for such a perfect “conspiracy”. I do believe what G. Edward Griffin said from the beginning in his book “The Creature From Jekyll Island” the Federal Reserve was a conspiracy and it still is a conspiracy. It is interesting that when those bankers and financial men met on the train for Jekyll Island they represented one-quarter of the wealth of the entire world at that time. They pulled off the perfect conspiracy and it has only gotten worse and worse.

  • Elihu

    Everyone posting here is certain that he/she is right in their outlook (especially ‘Gary’). Well, IMHO, none of you know the true score…but hang around for just a short time, and you’ll soon see! There will be no mistaking it!

  • Faux Gary

    If Gary2 is so savvy, so sharp, so intellectually acute, how come he’s a broken-down, underemployed, penniless chump? Like the saying goes, “If you’re so smart, how come you’re not rich”?

    If only ad hominem attacks and trite, vulgar plays on other people’s names were money, he’d be set for life. If you’re looking for rational discourse and intelligent commentary from Gary2, however, I would suggest you look elsewhere. My dog is more astute than he is.

  • not happy

    Does the title “Animal Farm” ring a bell? Read it and you will know what the answers are. We are a debtor nation teetering on the brink of bankruptcy, but the lawyers on Capitol Hill are partying like it’s 1999. They should all be voted out of office for taking a break when they dithered for over a year! This is not high school, this is the United States of America. They should grow up and start doing the hard work of restoring our confidence first, then the world’s. I say that we should just move out of all those bases and positions we are maintaining now and save the money by putting the soldiers to work restoring our crumbling infrastructure. There are jobs to be done, and we need people to do them. We are shoring up corrupt regimes with our money for “national security” when we should be saving it for ourselves. I don’t see any benefit in trying to establish democracies elsewhere if the people don’t want it. Leave it alone and let the chips fall where they may. If we get into the business of nation building, let the cheerleaders pay for it. We need to restore ourselves, not somebody else’s country. There is too much at stake now, yet Congress is busy filing its nails instead. Bullcrap. Throw the bums out and start over with real people, not politicians.

  • emma

    There are many sheeple around that listen to the government. They keep getting it wrong and are against us. I would recommend listening to truth warriors that keep getting it right like I been listening to them and they called the stockmarket crash and economic collapse coming many years ago.

    Thank god for people reading this blog too. It is a blessing.

  • alrus

    why did the author not understand that the USA is not going to pay debts? its easier for US to drown the world in blood instead of this. it is technically easier, really.

  • Terry

    I love the Garys of the world. I will not spend time bashing that mindset because they do a fine job on their own. i will note that eruope has been free to experiment with socialism since WWII because the USA has paid their defense bill since then.

    All of USA’s problems cannot be blamed on military overreach. I would like to know where all the oil we stole from Iraq went.
    I do not care for the Donald, but do like some of the things he is saying, like demand payment for expenses from Iraq or seize the equivalent in oil. He also has the courage to bring up the little question of an undocumented president. Why not throw this scrap of paper out there and put that whole thing to bed?

    While the Donald is saying things I like right now, he has given glowing reviews of the pelosi crowd in the past. I do smell a rat.

  • Joshua Crosby

    I fear the depression but if that’s what it takes to end the empire, i’ll take it. Unfortunately, as history generally goes, when the depression comes the empire only becomes more brutal.

  • buck

    How much do we take? Would anyone in our cushy society think it necessary to sacrifice one’s life for an idea as our Founders did. Has “our” situation reached that point?

    God Bless

    Keep the powder dry.

    Pray for our soldiers.

  • Momma G

    The Donald is a tool. Plain and simple. I can’t wait until he says he won’t run so we can see who our real possibilities are. I’m sick of Donald Trump. I won’t spend another second listening to him or his drivel. He can take The Apprentice and jump off a cliff. What a arrogant mule.

    Ron Paul 2012

  • Virginia

    We are in tremendous transition right now from an economy based on oil, coal and nuclear to renewables. Either people embrace this new technology or they will fall behind. It’s all about how to get from point A to point B with the smallest carbon footprint whether you are driving, heating your home or turning on the light switch. It sounds like a broken record but that is where money is being invested and where the future jobs will be. We will slowly wean off the fossil and use the sun and wind to power our world. Highly efficient batteries to store this energy is another industry that is soon to explode.

  • Thanks so much, this information was spot on for me. I’ll bookmark this site for future upadtes. Thanks again.

  • What went wrong in America? America’s Secret Government completely revealed – the REAL ENEMY WITHIN:

    Psychological Warfare and the New World Order:The Secret War Against the American People