Tuesday, February 19, 2008

What goes up,must come down!

What goes up,must come down!
19, 2008

San Mateo Daily Journal

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What goes up,must come down


All great societies pass this way eventually, running up unsustainable debts and printing (or minting) currency in an increasingly desperate attempt to maintain the illusion of prosperity. And all, eventually, find themselves between the proverbial devil and deep blue sea: Either they simply collapse under the weight of their accumulated debt, as did the U.S. and Europe in the 1930s, or they keep running the printing presses until their currencies become worthless and their economies fall into chaos.

This is a big blow to the money men, the rich stock investors in New York and the U.S.A. and around the world. It starts with the U.S., then it sort of dominoes. How it will go this time, of course, nobody knows except the Lord, but we know there’s going to be a Crash, and a worldwide Crash, and this could be the beginning of the real crash.

How long can they stand that? And the U.S. itself has the biggest deficit it has ever had, amounting to nearly $5,132,265,067,831.71 current debt held by the public and Intragovernmental Holdings $4,105,743,221,110.40, total public debt outstanding of $9,238,008,288,942.11. Dollars that the United States owes and can’t pay. There has to come a day of reckoning, and it looks like it’s about to come.

Ted Rudow III,MA

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