Debt and More Debt
Jan 19th, 2012 by Randy Toman
Watch the link/video—- http://www.realecontv.com/videos/europe/what-it-means-when-your-country-goes-broke.html
If this has any truth to it——and I say “IF”—-we have a much bigger problem then anyone thinks and/or realizes.
The video is 10:35 minutes—–listen carefully to the last minute or so—-these guys are desperate and will not take it year after year as do the American citizen—–even the American citizens will reach some point of breaking.
And to be perfectly candid—–my sarcastic—–WE SHALL SEE is not something that should be taken lightly——–for the danger and debts are mounting with each passing day.
“AND”
Is this the capitalism that the “Constitution” defends—I believe not—–and “Rush” and the rest of those talk show guys had better understand this and start digging down to the meat of the truth of the issue. The wheeling and dealing of the boys upstairs at Golden Sacks——–tells me that is not happening——(digging deep enough)—–nothing is being exposed—nothing at those levels.
Not to many years ago Bethlehem Area School District (BASD) was up to their eye balls in “Swaps” and “Derivatives” (having 17) and still having 3 (I believe) with a total of $463 million in debt——and they plan on raising the citizens taxes in Bethlehem, Pa. another 4-5.2% or as the local paper said an average of $134—–and I was corrected——it was only $70.00 for the home owner.—–and just heard last night that this will be the 7th year taxes have gone up and from another person telling me his mother’s (fixed income) property tax has gone from $1000 to $1600 in the last 5-6 years—-with her making the remark as to how she was going to pay the continued tax increases.
How in the heck are they going to survive if things get tighter and with that, the question becomes are things going to get tighter? Interesting isn’t it?
WE SHALL SEE——don’t you think??????