The U.S. Federal Government Is Bankrupt -- It's Now Only A Matter Of Time Before This Bankruptcy Manifests Itself In Another U.S. Depression

With the huge financial losses of *Fannie Mae and Freddy Mac reported earlier today (Each mortgage house has reported to have lost up to 40% of its value ), and the collapse of Bear Stearns just weeks ago, the signs of the U.S Federal Government's looming bankruptcy and a full blown economic collapse within the United States are all around us.

Read the story on Fannie Mae and Freddy Mac here:

http://apnews.myway.com//article/20080711/D91RN9L80.html

As for the following article, concentrate on the facts and ignore the religious indoctrination, since it's not God or Satan who got us into this precedent setting mess, but the inherent and abject greed of humans.



Assisted Suicide of the U.S. Economy!
By David J. Meyer

Source:
http://www.lasttrumpetministries.org/2008/May2008.html

"On January 30th, 2008, newspapers around the world featured a large picture of President Bush and Vice President Cheney with the headline "Bush sees no recession." In the picture, President Bush was squinting and smirking, and Cheney had his hands together in a Masonic signal and had a knowing smirk on his face. The event was the State of the Union Address. (1) Since that infamous speech, it has been one disaster after another in our economy. In January and February 2008, 152,000 jobs were lost, and in March 2008, an additional 80,000 jobs were lost.

This is nearly a quarter-million jobs lost in the first quarter of the year of 2008. (2) With many banks facing serious meltdown, the Federal Reserve turned on the money pumps and auctioned $260 billion in short term loans to the banks. (3) Our national debt is now nearly nine and one-half trillion dollars and can now be measured with numbers so large that such numbers had heretofore been used only in astronomy calculations. The amount of debt is increasing almost exponentially.

It is so bad that the Concord Coalition, a fiscal watchdog group, recently issued a report which stated, "The present rate of debt increase will leave a total shortfall of 72.3 trillion dollars in Social Security and Medicare alone by the year 2080." (4) This deficit for only these two departments would be eight times our current national debt! Even our current debt is unsustainable.

On April 1st, 2008, a British newspaper carried the following serious headline, and it was no April fool: "USA 2008: The Great Depression." It seems like the other countries of the world know what we are facing, but our own government just has not told us yet. A subheadline in that newspaper said, "Food stamps are the symbol of poverty in the U.S. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive - a sure sign the world's richest country faces economic crisis." (5)

The signs of real trouble are everywhere. On April 3rd, 2008, the price of corn hit a record $6.00 per bushel. The price of corn has shot up 30 percent, and stockpiles have dwindled as the rest of the world bids high for our own corn. Ethanol companies also make higher demands to turn corn into alcohol for fuel. (6)

Here let it be noted that it takes one and one-half gallons of other fuel to produce one gallon of ethanol. According to United Nations' reports, food prices worldwide have increased 35 percent just last year. Dairy prices increased 80 percent and grain increased 42 percent worldwide in 2007. (7) In many parts of the world, food riots are already taking place. (8) The price of common wheat has increased 50 percent since last August and is now listed as a precious commodity. A South Dakota trader, Vince Boddicker, said, "Anyone who tells you they've seen something like this before is a liar." (9)

In addition to the food crisis, the housing problem is completely out of control. Homeowner equity is now at its lowest point since 1945 as houses and properties are devalued and countless millions default on their mortgages. Currently, nearly nine million homeowners in the United States have zero equity. (10)

The rate of foreclosures on home mortgages in the United States increased to 79 percent in 2007. Two and two-tenths million homeowners lost their homes last year! (11) Homes that were once beautiful are now stripped bare, either by the people as they left them or by vandals and thieves who came later. The Milwaukee Journal Sentinel recently featured the headline "Cities drowning in sea of stripped homes." Even the aluminum siding has been torn off from homes by thieves and sold for scrap metal. (12)

Financial institutions in America are now facing the writedown and loss of one trillion dollars. This vast amount is equal to the entire economy of Russia. It is also more than double the market value of Exxon Mobil Corporation and about nine times the combined wealth of Warren Buffett and Bill Gates. (13)

What is happening to our erstwhile great nation? Why are ninety-three major corporations at risk of defaulting on $53 billion in debt? (14) Why are gasoline prices as high as $5.40 per gallon in some areas of our country? (15) Even $3.00 per gallon is an obscene price when you consider that only seven years ago it was 99 cents per gallon.

In recent days we have seen major disruption in scheduled flights by major airlines such as American Airlines. Over 2,000 American Airlines flights stranded nearly one-quarter million people due to the airline's non-compliance with FAA inspection rules. (16) Why did such a situation of noncompliance suddenly arise? We know that all major airlines are in deep financial trouble, and high fuel prices are making things continually worse. We also know that experiments are being conducted on segments of unwitting human guinea pigs to see how they behave in crowded and inconvenient situations where they are herded together and shuffled around. As the powers of antichrist rise, we will see more of this sort of thing.

On February 24th, 2008, a story appeared in the mainstream news media with the headline "U.S. must adjust to the arrival of Asian century." The story commented on statements that were made at the most recent G-8 Summit. Here are some of the statements made at that summit: "We are entering a new era of world history; the end of Western domination and the arrival of the Asian century…..Let us focus on the new sunrise organizations in Asia…..the changes will be dramatic and happen quickly……As new Asian powers emerge, the architecture of the world order will have to be re-engineered.

Asia is now home to the world's fastest-growing economies which have accumulated more than three trillion dollars in foreign reserves." Lawrence Summers, an economist who was once the U.S. Treasury Secretary, had this to say at the summit meeting, "During the industrial revolution, the standard of living rose at a rate of maybe 50% during a person's lifespan. Asia's current growth rate represents an unprecedented 100-fold, or 10,000%, rise in the standards of living during one lifetime." (17) An increase of ten thousand percent in the Asian standard of living? If you have ever wondered where the wealth of America has gone, you have your answer! Indeed, the kings of the East have risen up!

On the 13th day of March 2008, a rare "closed door" session was held by the United States House of Representatives. It was only the fourth time in the history of the United States that the House of Representatives closed the doors and met in absolute secrecy. Thus, those who were elected to represent the people of the United States would not allow the people to know what they were meeting about. Furthermore, House Rule XVII, clause 9, forbids the Representatives from revealing what was discussed. The penalty for leaking such information includes loss of seniority, fine, reprimand, censure, or expulsion!

What went on behind those closed doors where every member was sworn to absolute secrecy, to always conceal and never reveal? We know that the only reason for secrecy is to hide evil. The news media said almost nothing about the secret conclave, but it was mentioned only that one of the items being discussed was the new surveillance techniques that are going to used by the U.S. Government to watch every American. (19)

After diligently searching for more information, I finally found what I was looking for in an Australian newspaper. The story appeared in Australia. TO from Brisbane, Australia. The article stated that ABC News via WCPO confirmed that Congress members were forbidden to talk about what went on in their secret meeting.

Several of the Representatives, however, were so furious and concerned about the future of the country that they began leaking info. Here are some of the things that were reportedly leaked out regarding the secret meeting: Discussion regarding the imminent collapse of the U.S. economy to occur by September 2008 - The imminent collapse of the U.S. Government finances by February 2009 - The possibility of Civil War inside the United States as a result of the collapse - The advance round-ups of "insurgent U.S. citizens" likely to move against the government

The detention of those rounded up at REX 84 camps constructed throughout the United States - The possibility of public retaliation against members of Congress for the collapses - The location of safe facilities for members of Congress and their families to reside during massive civil unrest - the necessary and unavoidable merger of the United States with Canada and Mexico - The issuance of a new currency called the AMERO for all three nations as an economic solution. (20) Obviously, there is no documentary proof for the above as the meetings were secret. The information, however, does fit the profile of what is going on around us. Our Almighty Saviour is ultimately in charge. Time will tell if these things are so, and time is running out!"


See the full article here:

Source:
http://www.lasttrumpetministries.org/2008/May2008.html