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The United States is Broke

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Dave_LF
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Posted: Wed 31 Oct , 2007 12:02 am
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As if all this weren't enough:

SFGate: American Kids Dumber Than Dirt
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Warning: The next generation might just be the biggest pile of idiots in U.S. history
...
It's gotten so bad that, as my [teacher] friend nears retirement, he says he is very seriously considering moving out of the country so as to escape what he sees will be the surefire collapse of functioning American society in the next handful of years due to the absolutely irrefutable destruction, the shocking — and nearly hopeless — dumb-ification of the American brain. It is just that bad.
...
But most of all, he simply observes his students, year to year, noting all the obvious evidence of teens' decreasing abilities when confronted with even the most basic intellectual tasks, from understanding simple history to working through moderately complex ideas to even (in a couple recent examples that particularly distressed him) being able to define the words "agriculture," or even "democracy." Not a single student could do it.

It gets worse. My friend cites the fact that, of the 6,000 high school students he estimates he's taught over the span of his career, only a small fraction now make it to his grade with a functioning understanding of written English. They do not know how to form a sentence. They cannot write an intelligible paragraph. Recently, after giving an assignment that required drawing lines, he realized that not a single student actually knew how to use a ruler.
...
some of the best designers, writers, artists, poets, chefs, and so on that I meet are in their early to mid-20s. And the nation's top universities are still managing, despite a factory-churning mentality, to crank out young minds of astonishing ability and acumen. How did these kids do it? How did they escape the horrible public school system? How did they avoid the great dumbing down of America? Did they never see a TV show until they hit puberty? Were they all born and raised elsewhere, in India and Asia and Russia? Did they all go to Waldorf or Montessori and eat whole-grain breads and play with firecrackers and take long walks in wild nature? Are these kids flukes? Exceptions? Just lucky?

My friend would say, well, yes, that's precisely what most of them are. Lucky, wealthy, foreign-born, private-schooled ... and increasingly rare. Most affluent parents in America — and many more who aren't — now put their kids in private schools from day one, and the smart ones give their kids no TV and minimal junk food and no video games. (Of course, this in no way guarantees a smart, attuned kid, but compared to the odds of success in the public school system, it sure seems to help). This covers about, what, 3 percent of the populace?

As for the rest, well, the dystopian evidence seems overwhelming indeed, to the point where it might be no stretch at all to say the biggest threat facing America is perhaps not global warming, not perpetual warmongering, not garbage food or low-level radiation or way too much Lindsay Lohan, but a populace far too ignorant to know how to properly manage any of it, much less change it all for the better.


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Dave_LF
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Posted: Tue 27 Nov , 2007 2:17 am
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Pat Buchanan is an interesting character. He's a racist/xenophobe, but he's also an independent thinker who seems to have his eyes open. I find it unsettling that I've come to agree with him on a number of things--it's the sort of thing that makes me wonder if I might not have gone badly wrong somewhere--but there it is. I wish there were people out there who combined his perspective with a liberal ethic.

http://drudgereport.com/flash9pb.htm
Quote:
"America is coming apart, decomposing, and...the likelihood of her survival as one nation...is improbable -- and impossible if America continues on her current course," declares Pat Buchanan. "For we are on a path to national suicide."

The best-selling author and former presidential candidate is on the eve of launching his new epic book: DAY OF RECKONING: HOW HUBRIS, IDEOLOGY AND GREED ARE TEARING AMERICA APART.

[The book's release date has been moved up to this week. It ranked #237 on AMAZON's hitparade Monday morning.]

This time, Buchanan goes all the way:

"America is in an existential crisis from which the nation may not survive."

The U.S. Army is breaking and is too small to meet America’s global commitments.

The dollar has sunk to historic lows and is being abandoned by foreign governments.

U.S. manufacturing is being hollowed out.

The greatest invasion in history, from the Third World, is swamping the ethno-cultural core of the country, leading to Balkanization and the loss of the Southwest to Mexico.


The culture is collapsing and the nation is being deconstructed along the lines of race and class.

A fiscal crisis looms as the unfunded mandates of Social Security and Medicare remain unaddressed.

All these crises are hitting America at once -- a perfect storm of crises.

Specifically, Buchanan contends:

• Pax Americana, the era of U.S. global dominance, is over. A struggle for global hegemony has begun among the United States, China, a resurgent Russia and radical Islam

• Bush’s invasion of Iraq was a product of hubris and of ideology, a secular religion of “democratism,” to which Bush was converted in the days following 9/11

• Torn asunder by a culture war, America has now begun to break down along class, ethnic and racial lines.

• The greatest threat to U.S. sovereignty and independence is the scheme of a global elite to erase America’s borders and merge the USA, Mexico and Canada into a North American Union.

• Free trade is shipping jobs, factories and technology to China and plunging America into permanent dependency and unpayable debt. One of every six U.S. manufacturing jobs vanished under Bush

• “Sovereign Wealth Funds,” controlled by foreign regimes and stuffed with trillions of dollars from U.S. trade deficits, are buying up strategic corporate assets vital to America’s security

• As U.S. wages are stagnant, corporate CEOs are raking in rising pay and benefits 400 to 500 times that of their workers

• The Third World invasion through Mexico is a graver threat to our survival as one nation than anything happening in Afghanistan or Iraq

* European-Americans, 89% of the nation when JFK took the oath, are now 66% and sinking. Before 2050, America is a Third World nation

• By 2060, America will add 167 million people and 105 million immigrants will be here, triple the 37 million today.

• Hispanics will be over 100 million in 2050 and concentrated in a Southwest most Mexicans believe belongs to them

Buchanan’s Recommendations:

• A new foreign-defense policy that closes most of the 1000 bases overseas, reviews all alliances, and brings home U.S. troops

• A purge of neoconservative ideology and the “Cakewalk” crowd” from national power.

• To avert a second Cold War, the United States should “get out of Russia’s space and get out of Russia’s face,” and shut down all U.S. bases on the soil of the former Soviet Union

• To reach a cold peace in the culture war, Buchanan urges a return to federalism and the overthrow of our judicial dictatorship by Congressionally mandated restrictions on the jurisdiction of the Supreme Court.

• To end the trade deficits and save the dollar, Buchanan urges a Hamiltonian solution: a 20% Border Equity Tax on imports, with the $500 billion raised to be used to end taxation on American producers

• To prevent America becoming “a tangle of squabbling nationalities” Buchanan urges: No amnesty for the 12-20 million illegal aliens; a border fence from San Diego to Brownsville; Congressional declarations that children born to illegal aliens are not citizens and English is the language of the United States; and a “timeout” on all immigration.


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Dave_LF
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Posted: Tue 27 Nov , 2007 3:17 pm
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More firesale behavior: the United Arab Emirates is attempting to bail Citibank out by buying 7.5 billion worth of what amounts to stock in the company, making them the new #1 shareholder:
Bloomberg

Citi claims they'll have no decision-making power; but what if they have to do it again? And again? Are they hoping to gain control, prevent the bank from collapsing, or just to make a profit?


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Dave_LF
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Posted: Fri 14 Dec , 2007 4:55 pm
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Talk about a terrible headline:

Online Sales Growth Slows to 19% in Worst U.S. Holiday Season Since 2002

First of all, "worst since 2002"; 2002 was only 5 years ago, people! Get back to me when things are the worst they've been in 50 years. Second, the attitude of doom and gloom because growth is "only" 19% per annum. 19%! Does the author have any idea how fast even 19% annual growth explodes into impossibly huge numbers? Anyone who expected last year's 26% growth rate to go on indefinitely needs their head examined.

There are plenty of reasons to be gloomy about the prospects for the US economy, but the fact that online sales growth has fallen to 19% isn't one of them. The fact that we expect these kinds of growth rates to hold forever is.


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Cenedril_Gildinaur
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Posted: Fri 14 Dec , 2007 7:40 pm
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You want a headache?

Greenspan: Recession Odds 'Clearly Rising'

The big G stopped short of admitting he helped create this mess, but he acknowledged the mess is there.

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Last edited by Cenedril_Gildinaur on Tue Feb 30, 2026 13:61 am; edited 426 times in total


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Meril36
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Posted: Thu 07 Feb , 2008 1:58 am
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"Euros Accepted" Signs Popping Up in New York City
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In the latest example that the U.S. dollar just ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.

Some New York shops are happy to take payment in strong euros instead of US dollars.

"We had decided that money is money and we'll take it and just do the exchange whenever we can with our bank," Robert Chu, owner of East Village Wines, told Reuters television.

The increasingly weak U.S. dollar, once considered the king among currencies, has brought waves of European tourists to New York with money to burn and looking to take advantage of hugely favorable exchange rates.

"We didn't realize we would take so much in and there were that many people traveling or having euros to bring in. But some days, you'd be surprised at how many euros you get," Chu said.

"Now we have to get familiar with other currencies and the (British) pound and the Canadian dollars we take," he said.

While shops in many U.S. towns on the Canadian border have long accepted Canadian currency and some stores on the Texas-Mexico border take pesos, the acceptance of foreign money in Manhattan was unheard of until recently.

Not far from Chu's downtown wine emporium, Billy Leroy of Billy's Antiques & Props said the vast numbers of Europeans shopping in the neighborhood got him thinking, "My God, I should take euros in at the store."

Leroy doesn't even bother to exchange them.

"I'm happy if I take in 200 euros, because what I do is keep them," he said. "So when I go back to Paris, I don't have to go through the nightmare of going to an exchange place."

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With all the anger in the land, how long before the judgement day? Before we cut the fat ones down to size? Before the barricades arise?

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Cenedril_Gildinaur
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Posted: Mon 11 Feb , 2008 4:05 pm
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I've always been a little leery of government statistics, thinking that the best way to understand them is to take any good stat and cut it in half and to take any bad stat and double it. Everyone knows how the inflation rate is rigged, leaving out anything that rises too fast.

I've found a site by an economist that gives alternate stats that say, interestingly enough, that the USA has been in recession since 2004q4.

Shadow Government Statistics

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It is a myth that coercion is necessary in order to force people to get along together, but it is a persistent myth because it feeds a desire many people have. That desire is to be able to justify hurting people who have done nothing other than offend them in some way.

Last edited by Cenedril_Gildinaur on Tue Feb 30, 2026 13:61 am; edited 426 times in total


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Dave_LF
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Posted: Mon 11 Feb , 2008 5:25 pm
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http://www.wtopnews.com/?sid=1342138&nid=251
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Chertoff recognizes it has been more than six years since al Qaida launched the Sept. 11 attacks, but some experts say that's how long it took to plan them, suggesting the U.S. may close in on another spectacular attempt by Osama bin Laden to topple the U.S. economy.
Who wants to bet that whenever a recession is formally declared, they'll find some way to blame it on Al Qaeda (with or without a new incident)?


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Dave_LF
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Posted: Sat 16 Feb , 2008 9:24 pm
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Tee hee

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Iavas_Saar
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Posted: Mon 25 Feb , 2008 11:32 pm
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yovargas
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Posted: Tue 26 Feb , 2008 12:47 am
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I don't really know what that chart means in practical terms but I was curious - is that the real CIA website?


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vison
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Posted: Tue 26 Feb , 2008 2:52 am
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yovargas wrote:
I don't really know what that chart means in practical terms but I was curious - is that the real CIA website?
I wondered the same thing.

The chart is sorta weird, to be honest. It seems off to me.

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oldtoby
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Posted: Tue 26 Feb , 2008 3:08 am
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its .gov so its the real CIA alright. Used to use it all the time in school to get demographic and other info about different countrys.


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vison
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Posted: Tue 26 Feb , 2008 3:41 am
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oldtoby wrote:
its .gov so its the real CIA alright. Used to use it all the time in school to get demographic and other info about different countrys.
But it's an odd chart, just the same. No explanation of what those numbers mean.

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Cenedril_Gildinaur
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Posted: Tue 26 Feb , 2008 3:54 am
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It looks like a chart of the stated national debt/credit of each country as denominated in dollars.

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It is a myth that coercion is necessary in order to force people to get along together, but it is a persistent myth because it feeds a desire many people have. That desire is to be able to justify hurting people who have done nothing other than offend them in some way.

Last edited by Cenedril_Gildinaur on Tue Feb 30, 2026 13:61 am; edited 426 times in total


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Iavas_Saar
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Posted: Tue 26 Feb , 2008 5:44 am
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I find it creepy that they have a "Kids' Page" on their main menu.

[ img ]
^
Just the right age to be thinking about being kept safe by the government.

Oh and look at the word search game - kids, how amazing is the CIA!
Quote:
* Analysis
* Berlin Wall
* Clandestine
* Classified
* Courage
* Director
* Disguise
* George Bush
* Global
* Headquarters
* Honor
* Intelligence
* Intrigue
* Nathan Hale
* Operations
* Patriots
* Satellites
* Secrets
* United States
But wait, it gets more fun at the advanced level:
Quote:
* Allen Dulles
* Clandestine
* Collect
* Computers
* COMINT
* Counterintel
* Dead Drop
* Donovan
* ELINT
* Encryption
* Enigma
* Espionage
* George Bush
* HUMINT
* IMINT
* Information
* Intelligence
* International
* MASINT
What youngster wouldn't love to learn all the different INT's? Or find George Bush again?

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Dave_LF
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Posted: Wed 27 Feb , 2008 6:03 pm
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CNN
Quote:
Bernanke also waded into the ongoing credit crisis, urging banks to continue to raise capital so they can continue to be able to lend. A number of major U.S. financial institutions, for example, have been forced to look to large state-run foreign funds, or sovereign wealth funds, after suffering billions of dollars of losses.

The moves have raised protectionist fears on Capitol Hill, but Bernanke called the investments "constructive."

"I urge banks and financial institution to look to wherever they may find capitalization," Bernanke said.
What happens to a homeowner if his bank borrowed money from the King of Saudi Arabia to finance his mortgage and it subsequently goes under?


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vison
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Posted: Wed 27 Feb , 2008 7:04 pm
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Your bank probably doesn't even hold that mortgage any more, it will have been sold off in the "securitization" scheme that American banks came up with to offload poor mortgages onto European investors.

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Dave_LF
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Posted: Wed 27 Feb , 2008 7:23 pm
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Right; so does that mean you start getting bills from the King of Saudi Arabia/some European consortium, or what? And what if you default after that? Would a wave of foreclosures mean we'd wake up one day and discover that a big chuck of US residential real estate is now owned by overseas interests? (or a bigger chunk, at any rate)


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BrianIsSmilingAtYou
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Posted: Sat 01 Mar , 2008 12:18 am
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Dave_LF wrote:
What happens to a homeowner if his bank borrowed money from the King of Saudi Arabia to finance his mortgage and it subsequently goes under?
These deals are generally equity deals. Saudi Arabia (Abu Dhabi etc, whatever) becomes part owner of the bank. So if the bank goes under, THEY lose.

There is a profound difference between equity and debt.

When Abu Dhabi bought a 7.5% stake in Citibank, that was equity financing. If Citi goes under, Abu Dhabi loses too.

Such investors are counting on the bank not going under.

In your scenario, nothing special would happen in any case. You'd just have to find out where to send your mortgage check.

I'd be more concerned if I were a depositor with a bank that went under than if I owed them money.

BrianIs :) AtYou

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