Unfunded Liabilities, The Fed, Globalization and Syria

National-Debt-GDP

National-Debt-GDP (Photo credit: Wikipedia)

U.S. National Debt Additions

U.S. National Debt Additions (Photo credit: Wikipedia)

English: Graph of U.S. gross federal governmen...

English: Graph of U.S. gross federal government debt from 1940 to 2010, as a percentage of GDP, broken down by presidential terms. (Photo credit: Wikipedia)

U.S. Total Deficits vs. National Debt Increase...

U.S. Total Deficits vs. National Debt Increases 2001-2010 (Photo credit: Wikipedia)

RedState:

While $16.5 trillion of debt is clearly unsustainable, what is even more alarming is what we are not talking about:The fact that, in addition to the $16.5 trillion of debt we currently have, every man, woman, and child in America also is on the hook for nearly $400,000 in unfunded liabilities–or, over $1 million for every household.”

Wall Street Journal:

“As a result, fiscal policy discussions generally focus on current-year budget deficits, the accumulated national debt, and the relationships between these two items and gross domestic product. We most often hear about the alarming $15.96 trillion national debt (more than 100% of GDP), and the 2012 budget deficit of $1.1 trillion (6.97% of GDP). As dangerous as those numbers are, they do not begin to tell the story of the federal government’s true liabilities.”

The Atlantic:

“The U.S. national debt comes out to about $16 trillion today. That’s something. But it’s nothing compared to the extra $87 trillion in unfunded liabilities to Social Security, Medicare, and federal pensions. Here’s how that works. If you add up all of the U.S. government’s promises to pay retirement and health care benefits for the next 75 years and subtract the projected tax revenue dedicated to those programs over the next 75 years, there is a gap. A $87 trillion gap — in addition to a $16 trillion hole.”

US_Federal_Debt_as_Percent_of_GDP_Color_Coded_Congress_Control_and_Presidents_Highlightedus-federal-debt-percentage-gdp-by-president-political-partyholders-of-u-squantitative_easing_final

Tyler Durden on 08/31/2013 15:58 -0400; Zero Hedge:

“The goal, I believe, is to utterly transform the world’s political, economic, and social systems.  The goal is to generate intense fear; fear that can be used as capital to buy, as the globalists call it, a “new world order”.  Syria is the first domino in a long chain of calamities; what the Rand Corporation sometimes refers to as a “linchpin”.  As I write this, the Obama Administration is moving naval and ground forces into position and clamoring in a painfully pathetic fashion to convince the American public that 90% of us are “wrong” and that a strike on Syria is, in fact, necessary.  It appears that the establishment is dead set on starting this chain reaction and accelerating the global collapse.  So, if a strike does occur, what can we expect to happen over the next few years?  Here is a rundown…”

http://www.zerohedge.com/contributed/2013-09-02/surreal-sadistic-syrian-subterfuge

World Economic Forum in Cape Town, South Africa

Fear not! Misery loves company! Africa, one country at a time, is being assimilated within the glorious globalized comprehensive framework of

The

New

World

Order.

Resistance Is Futile!

It was recently announced at the World Economic Forum in Cape Town,
South Africa that MasterCard and the Nigerian National Identity Management Commission (NIMC) under the government of Nigeria would form a partnership to distribute a new identity card to every Nigerian citizen. The purpose of the card is to have all Nigerian citizens participate in the financial services sector under the control of MasterCard, a multinational financial services corporation headquartered in New York. MasterCard’s press release ‘MasterCard to Power Nigerian Identity Card Program’ stated:

As part of the program, in its first phase, Nigerians 16 years and older, and all residents in the country for more than two years, will get the new multipurpose identity card which has 13 applications including MasterCard’s prepaid payment technology that will provide cardholders with the safety, convenience and reliability of electronic payments. This will have a significant and positive impact on the lives of these Nigerians who have not previously had access to financial services.

The program is also designed to move Nigeria into a cashless society,
one that is dependent on financial institutions, Wall Street and the Nigerian government. It will be managed by the financial elites of Wall Street, technocrats and of course Washington. All forms of financial transactions would be exchanged through plastic credit and debit cards that would have implanted RFID chips. Michael Miebach, President of the Middle East and Africa division at MasterCard supports the Nigerian government’s decision for a new cashless society, “Today’s announcement is the first phase of an unprecedented project in terms of scale and scope for Nigeria.”

Peter Schiff saw it coming

“All we can do now is prepare for the crash,” Schiff said. “If we brace ourselves properly and control the impact, we will survive it.”

We must understand that none of the fundamental problems leading up to the 2007/2008 financial crisis have been resolved. If anything, it’s gotten worse. Our politicians will not change, and therefore, will change nothing in Washington. Wall Street is as corrupt as ever. Our central bank continues to devalue our currency. There is no end in sight for these people. They will continue on this unsustainable path until we as a country finally hit the proverbial brick wall. As Peter Schiff notes, the destruction to life as we know it in America and the world is imminent. It’s going to be severe. So much so that the government has been simulating the collapse of our financial system, the collapse of our society and the potential for widespread violence. (The same thing happened last year when the Social Security Administration posted a notice that it was buying 174,000 hollow point bullets.) A collapse happened in 2008, but THE collapse is still ahead. Watch: Peter Schiff Saw It Coming: