Update on The US Economy

International Forecaster
Posted: May 23 2009

Excerpt (highlight added):
When history studies what has gone on over the past 22 months it will be aghast that those who created the problem have been designated to fix it. These are the greedy, corrupt destroyers of capital that are about to serve us up hyperinflation as part of a cure to gain time in a senseless effort to save the unsavable, our financial system. A system that teeters on the edge of insolvency...

The die is cast and again as in 2002 there is no turning back. The point of no return has past...

Making the underlying problems worse American fiscal debt has risen from $368 billion to an estimated $2 to $2.5 trillion for fiscal 2009 ended 9/30/09, as revenues plunge. This is further complicated by the severity of the recession, which began in February of 2007 and in February 2009 graduated into depression. No one but us is willing to admit that, but that is really the way it is...

The magnitude of the recession was underscored by the latest numbers from the U.S. Treasury: last month’s individual income tax receipts dropped 44% and corporate tax revenue plunged 65% compared to April 2008. Alarming news, as April is historically the biggest collection month of the year and usually results in a sizable budget surplus for the month...

Is it all that bad, really? Read more:
Big Shrinkages In Economy Thwarts All Efforts To Fix It

Related article:

Depressed America No Longer The Safe Harbor It Was For Investment
Anyone who believes the market rally of the past ten weeks is going to extend further upward we believe is mistaken. We are 35% off the bottom and there is no good news. In fact, it is worsening in spite of the fact that consumer confidence has risen because Wall Street, Fed, Treasury and selected elitists tell us the bottom is in and things will soon improve...The next visit to 6,600 Dow will see panic selling and ...

Is the U.S. Dollar Heading For a Mighty Crash?-
...The United States is dangerously reliant upon the whims of foreign investors, to help finance its $2-trillion budget deficit this year, and prevent a surge in long-term interest rates, which could have a devastating impact on the US-economy.

If bond or currency traders detect that big investors in US-government bonds, - such as China, Japan, OPEC, Russia, and Brazil, have ceased to buy US Treasury debt, or worse yet, are becoming net sellers, it could spark a sharp slide in US-Treasury notes, sending yields sharply higher, and ignite a free-fall in the US-dollar...

Russia Dumps the U.S. Dollar for Euro as Reserve Currency
The US dollar is not Russia’s basic reserve currency anymore...About a third of Russia’s international reserves are based on US Treasury bonds.

Russia became one of the largest creditors of the US administration last year, the US Department of the Treasury said

For a different perspective, read:
What is Right With America?

Send for your free booklet:
The United States and Great Britain in Prophecy

Read also COGWriter's UCG: America’s Financial Decline