Great Depression Online Archive Issue:

Do You See How It Works?

Great Depression Online
Long Beach, CA
March 23, 2010

Inside This Issue You Will Discover…

*** Connecting the Dots
*** Where Does It All Lead?
*** Do You See How It Works?
*** And More

Connecting the Dots

Greece is in crisis.  Soon they’ll be unable to borrow money to pay the interest on their debt.  Yet any talk of cutting government entitlements to reduce the deficit sends 60,000 angry youth to the streets.

Greece needs a bailout from the European Union or the International Monetary Fund.  If they don’t get it soon, they’ll default on their debt.  That’s when things will really get ugly.

Over in Russia the proletariat protested the government on Saturday in what was called ‘A Day of Wrath’.  Evidently they’re frustrated with the economy and want Prime Minister Vladimir Putin to step down.  From what we gather the day of wrath wasn’t all that wrathful; but was rather subdued.

~~~~~~Your Pension Plan~~~~~~

There is no question that Robert Prechter’s Conquer the Crash foresaw and explained nearly every chapter of today’s financial crisis, years before it happened.  Enjoy your 8 free chapters from the book with this free Club EWI report; here’s an excerpt from chapter 23, “What To Do With Your Pension Plan.”  Note especially the last two paragraphs.  Read more. 

~~~~~~~~~~~~~~~~~~~~~~~~~

Here in the United States angry crowds gathered outside the Capital over the weekend to protest the Health Care bill.  When it was over the crooks in Congress had sold their souls to give Americans something they don’t want and that they can’t afford.  What to make of it?  [More below.]

We’re not sure what any of these dots have to do with each other, but we suspect that, somehow, someway, they’re connected.

Where Does It All Lead?

Take Greece.  Their spendthrift ways are calling the whole European Union into question.  Maybe uniting currencies across nations wasn’t such a grand idea after all.  Perhaps it was foolish to bet the strength of one nation’s currency on the good faith of their neighbors…particularly when those neighbors ran up the tab and skipped out on the bill.

Economist Dennis Gartman sums up the crux of the problem…

“Hard working, high-taxed, highly productive Germans will not pay the cost of less-than-hardworking, low-taxed, incredibly unproductive Greeks [so they] can have an earlier retirement and more vacation days each year than can the Germans.”

Of course the same thing can be said about America’s new health care overhaul.  Those American’s who work hard will pay more and get less.  Those American’s who don’t work will pay nothing and get something.  Eventually, those who work hard will tire of the compulsory philanthropy and join those who don’t.  It’s just the way the world works.

Then there are the Russians.  They’ve been through it all.  Revolutions.  Wars.  Famines.  You name it, they’ve tried it all…and they’ve done so with the uncritical passion and zeal of worker ants hollowing out an ant hill.

Where does it all lead?

Many places, naturally.  Disorder and corruption are among them.

Here’s what we mean…

Do You See How It Works?

“We are doing this for the American people,” said Pelosi of the Health Care bill on the day before the vote.

Like when Vice President Joe Biden told crippled, wheelchair bound, Missouri State Senator Chuck Graham to “stand up,” it’s quite possible Pelosi doesn’t know what she’s talking about.

The point is no one who voted on the bill actually knew what was in it.  But what is known is that it took a vast assortment of corruption and bribes to get it through…

Like $600 million to Vermont and nearly $600 million to Massachusetts for Medicaid.  The other 48 states somehow miss out on this handout.  How come? 

Then there’s the $100 million going to Connecticut to build a hospital.  The other 49 states must not have gotten their orders in on time…none of them get a hospital.

Also, for some reason 800,000 seniors in Florida are allowed to keep certain Medicaid benefits.  Apparently they are the chosen few; for all other seniors across the nation were passed over on this one.

Plus there will be financial aid to asbestos disease victims in Libby, Montana and coal miners with black lung disease.  What about undocumented strawberry pickers in California?  Shouldn’t they at least get their chiropractor fees covered?

And the kicker: Cold hard cash prizes – bribes – for Louisiana, North and South Dakota, and other preferred states.

But that’s not all.  Jim Costa, Dennis Cardoza, Allen Boyd, Suzanne Kosmas, Bart Gordon, John Bocciere, Dennis Kucinich, and Luis Gutierrez…for reasons unknown, between last Thursday and Friday, wimped from no to yes.  In other words, they were steamrolled by the Obama machine like Chicago asphalt on the Dan Ryan Expressway.

Do you see how it works?  Do you like how it’s done?

“This is what change looks like,” said the President.

Good lord.

Sincerely,

M.N. Gordon
Great Depression Online

P.S.  Make sure you fully understand all aspects of your government’s individual retirement plans.  In the U.S., this includes such structures as IRAs, 401Ks and Keoghs.  If you anticipate severe system-wide financial and political stresses, you may decide to liquidate any such plans and pay whatever penalty is required.

Why?

 

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