Scary power point presentation

amother

Mauve

Wed, Aug 07 2013, 12:32 am

This power point presentation predicts that the U.S. government with its debt will run out of money and all the banks will run out of money

and also food stamps will run out of money

so the government will print more money to cover its debts, and this will cause prices of food and gas to soar

http://pro.stansberryresearch......=true

Last edited by amother on Wed, Jan 13 2016, 5:50 pm; edited 1 time in total

TwinsMommy

Wed, Aug 07 2013, 12:34 am

this is surprising?!?

we owe so much $$$ to China that I don't understand why we speak English--- we should be a subsidiary of China.

Of COURSE that's going to happen if we keep going the way we're going. So we daven for Moshiach and have emunah that he'll come soon.

Barbara

Wed, Aug 07 2013, 1:10 am

I don't have time to watch the whole doomsday scenario, but I assume that you all know that this is a guy who, according to the Baltimore Sun, was "ordered to pay $1.5 million in restitution and civil penalties for disseminating false stock information and defrauding public investors through a financial newsletter."

http://articles.baltimoresun.c.....eport

http://wafflesatnoon.com/2012/.....ruth/

Oh, and no chance Obama runs for a 3d term. Only Republicans like Bloomberg overturn term limits.

bamamama

Wed, Aug 07 2013, 3:30 am

OPINIONATED wrote:

But is there any truth to this? I can hardly sleep.

If it sounds too bad to be true, it probably is.

The world changes in increments with the occasional disaster. Life will be a little more difficult for our kids and probably a little more difficult than that for our grandkids (and by difficult I mean, they won't have the same material-oriented lifestyle we lead). Don't panic.

PinkFridge

Wed, Aug 07 2013, 9:39 am

Quote:

Oh, and no chance Obama runs for a 3d term. Only Republicans like Bloomberg overturn term limits.

Does that mean FDR was a Republican? Confused

[/quote]

Um, google the 22nd Amendment.

Runaway inflation is a sign of being in the era of Ikvesa D'Meshicha. Not that the prospect (leaving aside the messenger) isn't sobering.

bamamama

Wed, Aug 07 2013, 11:41 am

PinkFridge wrote:

Quote:

Oh, and no chance Obama runs for a 3d term. Only Republicans like Bloomberg overturn term limits.

Does that mean FDR was a Republican? Confused

Um, google the 22nd Amendment.

Runaway inflation is a sign of being in the era of Ikvesa D'Meshicha. Not that the prospect (leaving aside the messenger) isn't sobering.

Is there anything on earth that's NOT a sign of moshiach? I've been reading history lately and it's been one long "Things are really bad right now!!! Moshiach must be almost here!!"

PinkFridge

Wed, Aug 07 2013, 12:31 pm

bamamama wrote:

PinkFridge wrote:

Quote:

Oh, and no chance Obama runs for a 3d term. Only Republicans like Bloomberg overturn term limits.

Does that mean FDR was a Republican? Confused

Um, google the 22nd Amendment.

Runaway inflation is a sign of being in the era of Ikvesa D'Meshicha. Not that the prospect (leaving aside the messenger) isn't sobering.

Is there anything on earth that's NOT a sign of moshiach? I've been reading history lately and it's been one long "Things are really bad right now!!! Moshiach must be almost here!!"

True, this.
But I recently heard a moving shiur about the later prophets and a heartening thought: in these comforting haftoros we read all about how great the world will ultimately be, how the land will blossom etc. It's not an either or scenario - either we're in galus or in Messianic utopia (or close to it, however it will play out). As we near the end we'll see fulfillments of prophecies, like Israel in agricultural bloom, people moving back, etc. So there's good news too.

Mrs Bissli

Fri, Aug 09 2013, 8:52 am

OP, I don't really have too much time so just a very brief answer to your original question.

1. Yes, US government (both at federal and state level) are in deficit, but it's nothing new or unique to the US. There are other countries with higher indebtedness (Not in absolute amount but usually as a % of GDP). I recall we had higher fiscal deficit in 1980s.

2. There are two ways to tackle this at the government levels: either raise tax or cut back on government spendings. My personal opinion is that both would be needed, but at the least politically controversial (ie least likely for the congressmen/senators to lose his/her votes). As for increasing tax intake, you can either go for higher tax rates (akin to political suicides) but more palatable way is to ensure economic growth to widen the taxable revenue base at both corporates and individuals.

3. Another way to reduce real (ie not nominal) debt burden is higher inflation. Though this is not a really popular policy option, and much harder to coordinate on the monetary policies (compared to fiscal policies above) as it affects interest rates (linked to other economies), exchange rates etc.

4. Note that the government is the main beneficiary of low interest rates. Because US government now can borrow 10yrs at less than 2%, whereas a few decades ago their borrowing rates were 7-8%. So Uncle Sam is doing technically something similar to what many people are doing with mortgage refinancing (ie repaying expensive debt and borrowing at a lower rate).

Mrs Bissli

Wed, Aug 21 2013, 2:50 pm

"how about NOT raising taxes yet again and JUST cutting back on government spending?"

Yes, that's basically the gist of sequestration under the Budget Control Act is all about.
But you know if affects popular programmes like Medicare and WIC, not just discretionary defense spendings.

TwinsMommy

Wed, Aug 21 2013, 8:14 pm

I'm 100% for medicare, because many seniors can't work and above age 65 is when I do believe health care should be available for all with a program like this. Don't get me started on mediCAID though---- you're only talking about medicare, right?

But WIC----- I think it's nice for a community to make sure that every member has healthy food---- so there are food banks, and free church meals for those out of work, and in the Jewish community there's tomchei Shabbos and such....... can't WIC be completely re-configured? Isn't it doing what numerous other non federally funded programs are already doing?

There's PLENTY of ways to cut back other than defense spending, and just because something is popular doesn't mean it shouldn't be cut, or phased out gradually.

bamamama

Wed, Aug 21 2013, 8:25 pm

TwinsMommy wrote:

I don't know much about WIC and if it's benefits are duplicated elsewhere. I know that some take advantage of the system - that's everywhere, in all cultures, and you will never, ever eradicate it. However, you assume that people are interested in affiliating with a church. You assume that churches in 2013 have enough support and clout to serve everyone who would normally fall under WIC. You assume that there are donors in enough force who would connect themselves with poor people from any city/state/racial group/religion/etc that a program like WIC could be duplicated by the private sector. Are you at all familiar with India? The poor there rely on donations from religious organizations and international NGOs. You want the US to look like that? I really hope you're kidding.

September June

Wed, Aug 21 2013, 8:40 pm

bamamama, you don't really need to be poor to qualify for WIC that is the thing. Many families that qualify for WIC can afford to buy food. Also the amounts of food they give out is really excessive (WIC recipients that I know always have tons of extra milk, peanut butter etc.). The main point of the program seems to be to train families to eat healthfully (there are mandatory nutritional sessions that participants must attend).

Here are the WIC eligibility guidelines

TwinsMommy

Wed, Aug 21 2013, 8:40 pm

I don't believe you need to be affiliated with a church to take advantage of their free meals and free shelter programming. Do I believe there is enough for everyone serviced under WIC? Nope. But not everyone serviced under WIC needs WIC. I have no idea what percentage of people in the USA don't know where their next meal is coming from but I'd venture to say at least 20% of my local friends are on WIC and most have vacations, cleaning help, and cell phones with internet access. And ALWAYS have enough in their kitchens (of their spacious homes) for at least the next week. If we gave the free food to those truly in need and had those who make a reasonable salary utilize other programs that don't involve the government's funding, there could be small changes. My family doesn't qualify for WIC, and *we* don't take vacations or have cell phones with internet access--- al achas kama v'kama?

small changes lead to bigger changes.

I know nothing about India--- but why is it a bad thing for the poor to rely on donations from religious organizations? Why do we automatically assume in the USA that poor has to equate to government support? Should people help? Of course---- does the GOVERNMENT have to take it as far as it's gone? No.

I just can't get on the "we have to keep WIC---- EVERYONE uses it!" bandwagon. There are plenty of government funded things that could absolutely be abolished entirely or phased out. Maybe Moshiach will come before China decides that since they own us, we may as well speak only Chinese.