Calamity to Come

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A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.  A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury.  From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.

James Madison

http://www.visionandvalues.org/2009/11/the-coming-of-caesar/

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The longer Congress delays, the more wrenching will be the policy changes needed to correct the government’s fiscal course — and the deeper will be the economic damage of undisciplined spending and growing deficits and debt.

http://thf_media.s3.amazonaws.com/2012/pdf/ib3625.pdf

[ASND simply asks, "Congress is delaying the essential an inevitable?  Who elected those people to congress?]

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The rise in US public debt is a serious threat to the whole world if Washington fails to rein it in, the head of the Institute of International Finance warned Saturday.

http://news.yahoo.com/us-deficit-accident-waiting-happen-says-iif-head-181434972.html

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Why $16 Trillion Only Hints at the True U.S. Debt Hiding the government’s liabilities from the public makes it seem that we can tax our way out of mounting deficits. We can’t.

http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html?mod=WSJ_Opinion_LEADTop

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3 doomsaying experts who foresee economic devastation ahead

http://www.usatoday.com/money/perfi/stocks/story/2012-02-26/stock-market-bears-doomsayers/53259742/1

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Marc Faber: Prepare for a Massive Market Meltdown

http://www.cnbc.com/id/49802535

and…

Marc Faber: Look out! A 1987-style crash is coming

http://www.cnbc.com/id/100950234

and…

Faber: ‘We are in a massive speculative bubble’

http://www.cnbc.com/id/101235052

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It’s going to happen again.”

http://blogs.reuters.com/david-cay-johnston/2011/11/15/meltdown-redux/

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Slouching toward the Apocalypse

http://www.americanthinker.com/blog/2011/09/slouching_toward_the_apocalypse.html

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Economic Chaos Ahead

http://frontpagemag.com/2012/02/07/economic-chaos-ahead/print/

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The United States is not facing bankruptcy, it is bankrupt.”

http://www.americanthinker.com/2012/08/the_childishness_of_the_american_left.html

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America’s Road to Perdition

http://www.americanthinker.com/2012/09/another_road_to_perdition.html

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World Entering ‘Dangerous New Phase’: Lagarde

http://www.cnbc.com/id/44450547

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The West [is] not going to find its way to the right economic path with a little tweaking at the edges, the CEO said.  What is needed is a wholesale overhaul of the economic system to tackle record levels of public and private debt.

http://www.businessinsider.com/chilling-economic-report-terrifies-ceos-2012-12

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IMF:

IMF: World economy enters ‘dangerous new phase’ IMF says global economy in ‘dangerous new phase,’ slashes growth forecasts for US and Europe

http://finance.yahoo.com/news/IMF-downgrades-outlook-for-US-apf-1240337037.html?x=0

and…

IMF Sees ‘Alarmingly High’ Risk of Deeper Global Slump

http://www.bloomberg.com/news/2012-10-08/imf-sees-alarmingly-high-risk-of-deeper-global-slump.html

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International alarm over euro zone crisis grows

http://www.reuters.com/article/2011/09/13/us-eurozone-idUSTRE78B24R20110913

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America’s Per Capita Government Debt Worse Than Greece, as well as Ireland, Italy, France, Portugal, and Spain.”

http://www.weeklystandard.com/blogs/chart-america-s-capita-government-debt-worse-greece_631797.html

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Israel Has Dumped 46 Percent of Its U.S. Treasury Bills; Russia 95 Percent

http://cnsnews.com/news/article/israel-has-dumped-46-percent-its-us-treasury-bills-russia-95-percent

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‘Massive jobs shortfall’ predicted for global economy

http://www.guardian.co.uk/business/2011/sep/26/job-creation-governments-ilo-crisis

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The only choice to hedge risks is to hold hard currency — gold.”

http://www.forbes.com/sites/gordonchang/2012/01/29/why-are-the-chinese-buying-record-quantities-of-gold/

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The next financial crisis will be hellish, and it’s on its way

http://news.yahoo.com/next-financial-crisis-hellish-way-204303737.html

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U.S. Banks Face Contagion Risk on European Debt

http://www.bloomberg.com/news/2011-11-16/banks-in-u-s-facing-serious-risk-on-contagion-from-europe-fitch-says.html

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“… we are a lot more exposed to Euro debt contagion than previously thought.”

http://www.americanthinker.com/blog/2011/11/chance_of_us_recession_in_2012_tops_50.html

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China vice premier sees chronic global recession

http://ca.news.yahoo.com/china-vice-premier-sees-chronic-global-recession-064121603.html

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The Global Economy at Cliff’s Edge

http://www.americanthinker.com/2011/12/the_global_economy_at_cliffs_edge.html

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European debt crisis may hit U.S. economy harder: OECD

http://www.reuters.com/article/2011/11/28/us-usa-economy-growth-idUSTRE7AR0GH20111128

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World economy at a ‘very dangerous juncture’: IMF chief

http://www.breitbart.com/article.php?id=CNG.796c0280e2143daa838da50cac8f6cfa.781&show_article=1

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“… does Western civilization even have a future?”

http://frontpagemag.com/2012/01/02/is-the-west-doomed/print/

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“Roubini, widely acknowledged to have predicted the crash of 2008, sees tough times ahead for the global economy and is warning that without major policy changes things can still get much worse.”

http://www.msnbc.msn.com/id/46172944/ns/business-stocks_and_economy/

and…

‘Dr. Doom’ Nouriel Roubini, says the ‘perfect storm’ scenario he forecast for the global economy earlier this year is unfolding right now…

http://www.cnbc.com/id/48116835

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World Economic Forum somber amid Europe debt crisis

http://www.latimes.com/business/la-fi-0130-davos-switzerland-meeting-20120130,0,4538138.story

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The Upside of Government Default

http://www.american.com/archive/2012/february/the-upside-of-government-default

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Bernanke warns lawmakers country headed for ‘massive fiscal cliff’

http://thehill.com/blogs/on-the-money/801-economy/213351-fed-boss-warns-of-massive-fiscal-cliff

Yet…

The latest round of extraordinary Federal Reserve stimulus is risky and leaves little room to maneuver should another crisis hit [said] economist Lawrence Lindsey…

http://www.cnbc.com/id/49180320

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If Obama is re-elected, there will be more to come.  As the president has told his supporters again and again, there is ‘a lot more work’ to do.

http://www.americanthinker.com/2012/03/economic_outlook_worse_after_the_election.html

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… the [Obam]economy is like a soufflé with a lot of hot air baked in: A loud noise before it cools will cause the whole thing to fall flat.

http://www.worldmag.com/printer.cfm?id=19338

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A fiscal crisis of massive proportions is coming and most citizens in states where it will hit hardest are completely unaware of the tsunami of new taxes that will be needed to pay for the profligacy of unions and state legislatures when it comes to public employee health care and pension costs.

http://www.americanthinker.com/blog/2012/04/how_the_unfunded_pension_liabilities_of_government_unions_are_destroying_illinois.html

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Maps:

National Debt by Country

http://www.creditloan.com/infographics/national-debt-vs-gdp/

and…

Public Debt as Percent of GDP 2006-2013

http://www.gfmag.com/tools/global-database/economic-data/10394-public-debt-by-country.html#axzz1uCTiCTOe

and…

Global Migration

http://www.nytimes.com/ref/world/20070622_CAPEVERDE_GRAPHIC.html

[Notice from those three maps that mass migrations of low-education and low-income people are occurring from 3rd world countries to high-debt countries.]

[Hmm...]

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Are Investors Running Out of Safe Havens to Put Money?

Once the run for the exits gets started it’s going to be an absolute stampede.”

http://www.cnbc.com/id/47539692

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Marc Faber: 100% Chance of Global Recession

http://www.cnbc.com/id/47566735

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Warning: America’s new Age of Austerity starts now

http://www.marketwatch.com/story/warning-americas-new-age-of-austerity-starts-now-2012-05-29

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The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.

http://www.dailymail.co.uk/news/article-2153324/Markets-facing-rerun-Great-Panic-2008-Head-World-Bank-warns-Europe-heading-danger-zone-bleakest-day-global-economy-year.html

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Schiff: Upcoming Recession Worse Than 2008

Euro Pacific Capital’s Peter Schiff argues that quantitative easing is “toxic” for the economy.

http://video.foxbusiness.com/v/1671808352001/schiff-upcoming-recession-worse-than-2008

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New York Times bestselling author Joel C. Rosenberg – known as a ‘modern-day Nostradamus’ – says America may face cataclysmic collapse in the not-too distant future.

http://www.wnd.com/2012/06/author-will-america-go-out-with-a-bang/print/

[ASND thought the “cataclysm” had already begun...  in China .]

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Is the Country Unraveling?

http://pjmedia.com/victordavishanson/is-the-country-unraveling/?print=1

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IMF’s Lagarde voices concern over global economy

http://www.reuters.com/article/2012/07/06/us-imf-lagarde-japan-idUSBRE86505J20120706

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Art Laffer: US ‘Close’ to Double-Dip Recession

http://www.cnbc.com/id/48125004

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Amid latest European bailout, warning signs in US debt figures

http://www.foxnews.com/politics/2012/07/14/amid-latest-european-bailout-warning-signs-in-us-debt-figures/?test=latestnews

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When we broke the link between money and gold, this removed all constraints on credit creation.  This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression.

http://www.cnbc.com/id/48193471

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This dangerous precedent has happened before.

http://www.americanthinker.com/2012/09/deflations_here_and_the_downward_spiral_has_started.html

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Honeymoon Over as Markets Brace for Volatile Times

http://www.cnbc.com/id/49173353

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How Obama and [His] Allies Are Suppressing News of Economic Disaster Ahead

http://frontpagemag.com/2012/arnold-ahlert/obama-suppressing-news-of-economic-disaster-ahead/print/

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Profit warnings highest since 2008

http://www.ft.com/intl/cms/s/0/14699bf0-67cd-11e2-a4a9-00144feab49a.html#axzz2JDjK46N5

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Example – Detroit:

USA: The Next Detroit

http://www.frontpagemag.com/2013/porter-stansberry/usa-the-next-detroit/print/

&

America in Worse Fiscal Shape than Detroit-Professor Laurence Kotlikoff

http://usawatchdog.com/america-in-worse-fiscal-shape-than-detroit-professor-laurence-kotlikoff/

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Beware the Monetary Cliff

www.aei.org/files/2013/10/28/-beware-the-monetary-cliff_090018614000.pdf

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Be prepared: Wall Street advisor recommends guns, ammo for protection in collapse

http://washingtonexaminer.com/be-prepared-wall-street-advisor-recommends-guns-ammo-for-protection-in-collapse/article/2541205#

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Nobel Prize economist warns of U.S. stock market bubble

http://ca.news.yahoo.com/nobel-prize-economist-warns-u-stock-market-bubble-145958281–sector.html

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Sinking Fortunes: Putin’s Russia Facing Economic, Demographic Collapse

http://pjmedia.com/blog/sinking-fortunes-putins-russia-facing-economic-demographic-collapse/?print=1

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World Economic Growth is Slowing

http://www.americanthinker.com/2013/11/world_economic_growth_is_slowing.html

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