Friday, June 26, 2009

Economic Collapse to Trigger Social Pandemonium?

"Financially the U.S. is not an independent country..the U.S. is bankrupt." (Paul Craig Roberts, former Treasury official).

Lee Bellinger, the Publisher of Independent Living, believes that disaster is just around the corner. Read his article here. And my previous Blog post detailing what Our Lady told Father Stefano Gobbi back in 1990 here.


Anonymous said...

This won't help:

US Catholic hierarchy shows support for legislation requiring massive tax hike

Jun. 26, 2009 ( - The US bishops have given their enthusiastic support to the Waxman-Markey bill, a piece of legislation designed to address climate change, which Republican opponents have characterized as entailing "the largest tax increase in American history."

The American Clean Energy and Security Act of 2009 proposes a complicated series of schemes known as "cap and trade," ultimately imposing taxes on the carbon-dioxide emissions that are cited as a major factor in global warming. Even before the 1,200-page legislation was made available to Congress, the members of the House of Representatives received a letter from two leading representatives of the American Church, giving their strong endorsement for the bill.

Bishop Howard Hubbard, who chairs the US bishops' committee on international justice and peace; and Ken Hackett, the president of Catholic Relief Services, welcomed the introduction of the Waxman-Markey bill. They criticized the legislation only because, in their view, it did not include adequate funding to protect the poor-- in the US and abroad-- from the bill's economic impact. Bishop Hubbard and Hackett argued that "the funding resources committed to international adaptation fall fundamentally short of what is needed." Their letter also suggested measures to protect churches and non-profit agencies from the adverse economic effects.

By pointing to the ways in which the legislation could harm the economic interests of the poor and the non-profit sector, Bishop Hubbard and Ken Hackett demonstrated that they were aware of the bill's economic costs. But their letter to Congressmen betrayed no concern at all about how the bill would affect ordinary American families above the poverty level.

The Congressional Budget Office, in its analysis of the legislation, concluded that the Waxman-Markey bill would entail new costs of $770 a year for the average American family. A separate analysis by the Heritage Foundation suggested that this figure was grossly understated, and the actual costs would be closer to $3,000 per year for a typical family of four-- rising steadily up to $4,600 by the year 2035. The Heritage analysis added that the bill would increase gasoline prices by 58%, home heating oil by 56%, and electic rates by 90%. The total drag on the economy would likely result in a loss of over 1 million jobs, Heritage concluded. In spite of this enormous cost, the Foundation argued, the Waxman-Markey bill would produce only a miniscule effect on the process of climate change, producing a drop in world temperatures of "only hundredths of a degree Celsius" in the next 40 years.

Michael Cole said...

In an article "Whither the Dollar?", for The New American, Charles Scaliger writes:

"As the fallout from the global financial crisis continues, the burning question in international financial circles is whether the U. S. dollar, the world’s reserve currency since the Second World War, can retain its status. Chinese and Russian leaders have already signaled their distaste for continued dollar hegemony, and the latter have even taken the extraordinary step of publicly seeking assurances that their dollar-denominated assets — U.S. government debt — will be protected.

The concern is that, with the Federal Reserve’s recent expansionary policies — pumping trillions of new dollars into the world’s money supply — the dollar will begin losing value as the long-term effects of inflation kick in. Put otherwise, the United States might choose to print money to cover its debts, discharging them in depreciated dollars..."

Read the rest at The New American - the JBS publication.

ACatholicinClinton said...

Pope John Paul II, during a Mass celebrated at Cherry Creek State Park in Denver, Colorado, warned in his homily that, "Vast sectors of society are confused about what is right and what is wrong, and are at the mercy of those with the power to 'create' opinion and impose it on others."

I have been just shocked at the speed at which so many Christians have abandoned the faith while embracing some really strange ideas. Catholics who think that the Church and or society should recognize homosexual "marriage," or who have turned to New Age and Wicca; or then those who freely contracept and who condone sexual relationships outside of marriage with the excuse "everyone's doing it."

Dear Jesus, help us through this nightmare!

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