The total debt of the United States is approaching 120% of our GDP when you combine the debt of the US Federal Government, the States and local governments, and this NEW debt we have taken on in the form of Freddie Mac, Fannie Mae and AIG.

Historically, no economy can grow quickly if at all when their debt is 90% or more of GDP.  Historically, no government or economy can survive when it actually hits 120%.

This Time is Different helps explain what has happened, what is going on, where we are and what are options are now.  That’s the key, we can bitch moan and complain about what has happened, but what we really need to do is recognize the real situation and prepare to choose our next options.

David Stockman, a former Ronald Reagan finance insider from the 80’s who helped craft Reagonomics has called the US Economy destroyed.  Flatline was diagnosed this week.  He ticks off four points by which the GOP (not the Democrats all though they definitely provided a serious assist) DESTROYED the US economy.

MarketWatch article – breaks down the 4 points clearly

Original Op Ed article by Stockman himself "Four Deformations of the Apocalypse"

This is a must read article.  It doesn’t matter if you are a Republican, A Democrat, a Libertarian, a Tea Party mover and shaker, an independent, a communist or a prairie dog just trying to ride out the storm in a hole in the ground.

This article identifies the 4 major causes of the downfall of the US economy and holds no punches.  That doesn’t mean we should watch ringside as the great fighter gets pummeled, but it does mean that we need to be aware of what happened, how it happened, who contributed and what dogmatic bull they are trying to shovel now to protect their jobs and tell us not to panic when the barn burns with all the horses inside.

This recession has been dubbed as possibly one of the worst in history, maybe even worse than the recession experienced during the Great Depression in economic terms.  Therefore it is becoming more and more common for people that previously had great credit, great jobs, great income and even a great deal of savings to suddenly find themselves on the other end of a barrage of collections calls.

With collectors getting access to not only home and work number but also cell phone numbers, the calls can seem to come at 15 minute intervals all day long.  This ironically makes it very difficult to get any work done, find a job, drum up new business or even think straight.…

Article syndicated from Home Loan Focus.

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Pricey for 58 pages . . .  but it may not be an eBook that you want to miss for just $20…

Survive the global crisis eBook

You read the paper and watch the news: All this is only the beginning!

The end of a booming global economy: It has already started!
The real estate bubble already burst: the industry on the verge of disaster!
We are in the middle of an economic collapse! In Europe! In the US! Worldwide!
The financial crisis will produce masses of unemployment globally!
40 million people have already fallen to 1USD per day due to this crisis!
The risks that millions more will follow and potentially hit poverty levels are huge!
Vast number of businesses throughout the world will cease to exist. Everything lost!
We will have to expect less tourism. People will spend less and less money!

The global crisis is everywhere, from Japan to Russia, from China to West Africa, from South Africa to Europe, from middle and South America to the middle East, from the UK to the USA and Canada… Wherever you live, this will affect your business, your life, your relationship, your family, your kids, and your health! Unemployment will rise. More and more people will struggle with their monthly disposable income.

Most business people will not be prepared! They still believe the economic crisis is only a question of some months or that it won’t affect their country! And then everything will be better? They are dreamers! It is urgent time to take precautionary steps today. A DEPRESSION NOT A RECESSION IS COMING!

Do you want to survive? Or do you want to be confronted with a personal financial disaster, with the complete crash of your business and at the end become unemployed? Lose your house? Destroy your relationship? Wait for the complete breakthrough of the crisis? Or act now! You can adapt and survive: or you can remain stubborn and fail!

This could be your only chance to survive!

Price: 20.00 USD

• 100s of practical tips to survive!
• Effective marketing tricks revealed!
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• Save money with our 20% rule!
• New ideas to start your own business!
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• Creative methods to succeed!

Also see

Survive the Global Crisis in Spain

Sobrevive La Crisis

The Definitive Guide About 2012 Audio book : Fact and Fiction, Should we prepare for it?

Don’t waste your time searching over the internet for what is really going to happen in 2012. THEY DID IT FOR YOU!
Fred Loino & Isabel Caroll did a terrific job compiling in an – easy to read – 43 page Ebook everything you need to know about 2012.
Each of the most popular theories are reviewed and analyzed.
They tell you not only what the scientific community has to say about them, but the definitive truth.
Instead of trying to figure out why there are so many doomsday theories, you will know what to really expect for 2012.
And if you have a hard time to sleep after knowing the Truth, like the famous theorical physisist, Michio Kaku, know that the 2nd part of their Ebook will provide you all of the fundamental knowledge to increase by 90% your chance to survive the most serious catastrophic scenario for 2012.
In this easy to read 43 page Ebook, you will find all the answer you was looking for:

• What catastrophic event could possibly happen in 2012?
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This 100+ page emergency and disaster preparedness guide will get you started on your way to developing and implementing your own survival plan.

The guide covers everything from actions to take in given situations, to developing a "place of action" for survival situations.

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One of the most comprehensive guides available in an easy to download format. This guide also includes checklists and recommended courses of action.

Consider the Follow the Masses – Emergency & Disaster Guide Now!

This Recession Survival Guide Bundle is packed with information to help you survive the recession (if we are so lucky). 

Check Out This Guide Today!

Click here to order Debt Hope: Down and Dirty Survival Stratgies.

An e-book meant for individuals with serious, defaulted debt problems, Debt Hope: Down and Dirty Survival Strategies takes you inside the businesses that try to collect from you and provides intimate knowledge of their strategies and tactics, as well as telling you what you need to know in order to devise strategic and tactical responses of your own.

It includes the collectors’ dirtiest tricks and your most important secret weapons as a debtor. For those contemplating bankruptcy there is a chapter that provides a framework for making that decsion, and for those faced with court a chapter also provides the considerations that go into defending a court case. Included in the book are examples of approaches to debt that are either unworkable or that will not produce the best result for some debtors. 140 pages, 180 footnotes hyperlinked to explanatory and source material on the Web.

Maybe you are one of the 3 million plus people that lost a job in 2009 or maybe even one of the 5 million plus people that lost a job the year before in 2008.  Either way, you are probably very happy to learn that in 2009 the Federal Government spent $787 billion dollars to create just 600,000 jobs.

Actually, according to their own numbers, ALMOST 600k jobs.

That means the government spent $1.3 million per job!  That stimulus money may be helping someone, but it sure isn’t helping the majority of people that lost or are losing a job from getting a new one or saving their current job.

What could $787 billion purchased that would have been a better investment in America?

At that rate, the US government could have sent all 8 million unemployed workers from 2008 and 2009 back to college for 3 semesters to retrain and had $70,000 left to pay them a salary to work doing ANYTHING!

Seven states received a wakeup call this week as new unemployment statistics confirmed that depression era level double digit unemployment has already struck.

Seven states posted unemployment rates larger than 10 percent in January, according to figures released Wednesday morning by the U.S. Bureau of Labor Statistics.

Michigan was saddled with the nation’s highest jobless rate in January, 12.5 percent in statistics that were not seasonally adjusted. It had been the only state to rise above 10 percent during the previous month, December 2008.

Also topping the 10-percent mark in January were Rhode Island (11.4 percent unemployment), Oregon (10.9 percent), South Carolina (10.9 percent), California (10.6 percent), North Carolina (10.3 percent) and Nevada (10.2 percent).

7 states post jobless rates above 10% – Business First of Buffalo:

During the depression unemployment didn’t just stop at the 12% level.  It accelerated to the 20% levels around the world.  Twenty percent levels are still not the norm, but these 7 states have a head start and might feel the worst of the depression early on.

Currently the National Unemployment rate is at 8.1%.  This does not include what is considered the ‘real’ unemployment numbers of people that the US government has stopped tracking all together, typically because their unemployment insurance benefits have expired.