Third world status in 10 years? I hope not.
The American Society of Civil Engineers now warns that the United States has fallen so far behind in maintaining its public infrastructure — roads, bridges, schools, dams — that it would take more than $1.5 trillion over five years just to bring it back up to standard.
As you can probably guess, Canada’s infrastructure problem is not nearly as bad or as costly as the U.S.’s. But with far fewer people and companies, the investment opportunities are just as big. According to Canada’s 2007 national budget, the government will throw approximately $1,000 per person at the infrastructure problems over the next seven years. That’s $33 billion total.”
This year 2008 alone the US spent money equal to ½ the gross national product bailing out the banks and insurance companies whey our congressmen keep their retirement accounts. Each time they print that amount of money and borrow it back at prime interest from the Federal Reserve banks they lower the value of the dollar 50% plus they have to pay prime interest on the money. I would call that hyper inflation.
In the next five years when the government has to cough up 1.5 trillion to rebuild the infrastructure on top of taking over all the business and home mortgages plus bailing out all the banks they will have to print even more money lowering the value of the dollar another 50%. Your wages won’t keep up with the deviation of the currency and your standard of living will be so low it might take a wheelbarrow load of money to buy a loaf of bread. Very soon you won’t afford to rent or buy a house and you will take the chip in order to eat.
Once you are chipped you will be a slave. If a bureaucrat wants to do your wife or take your children you won’t protest.
The US debt was calculated recently at 7.76 trillion dollars which is one half the Gross National Product (GNP) of last year.
OTHER SIDE OF THE PLANET
On the other side of the globe China’s march to become a global economic powerhouse never seems to slow.
Think about it. We’re talking about a country experiencing an infrastructure boom akin to the reconstruction of Europeafter WWII, pouring some $150 billion into development efforts annually, or roughly 9% of China’s GDP.
At the current rate of growth, it would take as little as 10 years for china to build an additional country the size of the United states inside its borders.
On the East Coast, shanghai already has more than 4,000 skyscrapers and another 1,000 in blueprint form – twice as many as New York City .
As a result, China is consuming half of the world’s cement, 40% of its steel and 20% of it copper. Since 2002, China has also accounted for almost all the world’s consumption growth of nickel, and tin, and more than the world’s growth of lead and zinc. The massive consumption doesn’t stop there.
With huge demand for stainless steel, electrical wire, cable and infrastructure, China is a large net importer of oil, copper, iron, lead, nickel, and zinc, where prices have increased the most, and magnesium—the third most commonly used structural metal, following steel and aluminum.
This means that America is going to have to pay double for these raw materials in order to rebuild its infrastructure and since the value of the dollar is falling it will cost us four times what it does now.
As China has continued its explosive growth, the quality of air in the country has paid the price. Rectifying the damage won’t come cheap.
The cost of China ’s investment for 2006- 2010 in cleaning up the country’s air, water and reputation is projected to top $160 billion, according to the China State environmental Protection Agency. And it plans to invest billion more in the coming years.
No alternative energy rock will go unturned: nuclear, solar, geothermal, bio-diesel or wind power.
In fact, a recent report in the Shanghai Daily stated that the government is considering increasing monies allocated to wind power in order to expand capacity from 5,600 megawatts to 100,000 megawatts by 2020.
An in crease in wind power goes hand-in-hand with China ’s ambitious plans to cut its reliance on coal to about 35% of its energy needs by 2050, with primary energy sources such as nuclear, hydro, solar, and wind power accounting for 15%-20%.
In only two years America might be like Nazi Germany toward the end of the war when it took a wheelbarrow full of money to buy a loaf of bread. Eventually the government will hold all the mortgages and own all the land. Isn’t that Communism? Will we have to take the chip in order to eat?
With oil prices near record levels on global supply concerns, some energy analysts have forecast that crude ultimately hit $200 a barrel before all is said and done. Guess what this would do to the US economy? Don’t say I didn’t warn you.
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