SPECIAL POST
Standard and Poors is saying $46 billion in corporate debt that cannot be repaid is coming due in 2012 to 2016. This amount of unpaid corporate debt will sink the United States. “This demand for funds will potentially compound the credit rationing that may occur as banks seek to restructure their balance sheets, and bond and equity investors reassess their risk-return thresholds,” the report’s authors wrote.
We hear that the $2 billion shortage on J.P. Morgan's books may balloon to twice that amount, $4 billion. Congress and our President absolutely refuse to abide by the law and create a national budget, let alone to cut spending. Rumors around Washington say that Obama plans to increase all income taxes by 50% if he gets reelected. Inflation has already kicked off and wages continue to be down; can you afford 50% more in taxes? What do you think will happen to the economy then... without the $46 trillion disaster?
Frankly, the future looks like pure sh*t and our President obviously doesn't give a damn because he's not talking about it and he's not doing anything about it.
How do you like the idea of being in a soup line when there's no money in the national coffers to pay for the soup?
That's MY AMERICAN OPINION, respectfully submitted.
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