The United States Ponzi Scheme, as explained in a beautiful presentation by Ross Perot on perotcharts.com

Ross Perot is back, with his beautiful new website perotcharts.com. Nice to see someone speak up on the debt, deficit and entitlement bomb, after George Bush and a corrupt and incompetent Democratic Congress did nothing, and I mean NOTHING, these past seven years.

Watch the preso, the whole thing, and have at it.

Or, be like 99% of Americans, and continue to not give a sh*t.

I love charts. A picture is worth a thousand declining dollars they say. Or a thousand dishonest politicians. And it'd be nice if Perot would run again, just to get his voice into the debate.

After reviewing his presentation, for starters and off the top of my head, here's a Top 10 economic to-do list for America. Have at it...

1. Raise the retirement age - dramatically and soon. Start at 70 and go from there
2. Mandatory high-deductible health insurance and subsidized grocery and drug store walk-in clinics
3. Pull the US military out of every foreign country within eight years
4. 5% across the board reduction in government spending and jobs
5. Make savings accounts tax free. Double or triple retirement account maximums.
6. Lower the US corporate tax rate to 20%
7. Sell off US government assets (not the Grand Canyon, but buildings and land for starters)
8. Line-item veto, no ear-marks, and balanced budget amendment
9. Vote every incumbent out of office, blow up the two-party system, and start over
10. Eliminate the income tax and switch to a consumption-based tax

Obama (aka Robin From the Hood) will raise taxes on those making over $250,000 a year. Has the backlash against 'the rich' started?

You know my take - I think the US needs to junk its entire income-based tax code - all of it - and go with a consumption-based tax. And I think Obama is wrong on taxes, wrong on Social Security and wrong on government spending.

Obama, being a traditional "raise taxes, soak the rich" Democrat, is focused on giving tax breaks to poor and middle class, while making the rich pay big-time. It won't work, as the rich hide their incomes better than your local stripper, and raising their taxes will actually drive down tax receipts, but I guess he'll just have to wait to find that out (again).

Meanwhile, $250,000 in depreciating dollars ain't rich in America anymore (thank you Ben Bernanke), but it'll be interesting to see the reaction here and throughout America. Is America ready to throw the rich under the bus? I think they are (thank you Angelo Mozilo).

If you're one of the 11% of HP'ers in the $250k+ group, get prepared. And hire those expensive accountants to hide that income like you always do. Strippers, bartenders, realtors and the rich are great at not paying taxes. And that's the American way.

Is throwing open the borders with Mexico and Canada the solution to the Great Housing Crash and Entitlement Ponzi Scheme?

Amerimexanada

Mexamericanada

Canamerimexica

Oh dear.

Seriously though, if the US threw open their borders and did an "EU-thing" with Mexico and Canada, that would add 108 million Mexicans (a good chunk of which are already in the US illegally) and 33 million Canadians. First step would be an open-immigration economic zone, next step would be a common currency, and then a hundred years from now, one big country. And why stop with Mexico and Canada - watch for a massive increase in visas for workers from around the world.

The United States is $53 trillion in debt, we have 20 million vacant homes ready to move into, we have 78 million Baby Boomers retiring soon, and soon we'll only have two workers supporting every one retiree (down from 3.3 today and 15 to 1 at the start of the Social Security ponzi scheme).

In other words, at this rate we'll need people. Lots and lots of taxpaying, baby-producing legally-registered people. And if we decide we want the Big Ponzi Scheme to continue, we need them now. If we DON'T want the Ponzi Scheme to continue, and we want to preserve America, then we need to kick out the illegals, raise the Social Security retirement age and dramatically cut spending (by bringing all of our troops home for starters). The time to choose is now here.

Our leaders are also eyeing Canada's resources, and Mexico's land. Mexico for their part wants our investment, jobs and trade, and Canada, well, they'd just be nuts to join, so maybe we'll just have to invade them like we do other countries with oil.

You know my take folks - I think the US has lost control of its border and its credibility as a nation of laws thanks to decisions made by the corrupted Democratic and Republican leaders in DC and the illegal invasion. I don't see the US kicking the illegals out, the anchor babies are here no matter what, and this was all planned.

Whether you like it or not, I think we're about to see the borders thrown wide open, the illegals made legal, and a radical change in the ethnic and social makeup of the United States. And with McCain, Clinton or Obama leading the way, the deal is now done.

Welcome to the New United States. The old one is dead, never to be the same. It's already happened in Europe, where if you go to Great Britain you're more likely to meet someone from Poland, Lithuania, France or Spain than you are a Brit. It's globalization, it's 'progress' and with our current leaders and asleep voters, it's a done deal.

$53 trillion in debt. 20 million empty houses. Just waiting for people.

More reading here, here and here.

Do you understand that the United States is $53 TRILLION in debt - and not the $9 trillion you are led to believe?

Just wondering. 'Cause I bet 99% of Americans believe what their political leaders tell them too, versus the truth.

Meanwhile, one lonely unnoticed office in the government (thank you David Walker, US Comptroller General) IS reporting the $53 TRILLION number. It's just that not a lot of folks choose to believe it. Or pay attention to it.

If our Presidents or Congressmen were CEO's, they'd be jailed for Sarbanes-Oxley violations. If the budget director was a CFO, he'd be indicted for fraud.

So why do our political leaders and presidential candidates (and our mostly compliant and incompetent MSM) get away with reporting the $9.3 trillion number, when one department in our own government is now reporting $53 TRILLION?

It's because our leaders in DC, unlike our corportations, made it so they don't legally need to report the value of future promised liabilities (social security, medicaid, medicare, military health benefits, etc) on our nation's balance sheet. It's as if they didn't exist. Which is understandable I guess, because indeed, they might not exist. Oh, sorry (non-boomers), you weren't really counting on social security or medicaid being there in your retirement, where you?

Can you imagine if Ford didn't have to report the value of their pension liabilities? Can you imagine if Boeing didn't have to account for the projected healthcare costs of their retirees? Can you imagine if GE put out an announcement today that they weren't going renege on their retirement liabilities?

Well, that's what the Congress, the President and all three major candidates are doing. And almost every single person in the country believes The Big Lie. Baaaaaaa.

David Walker was recently pushed out for speaking out, and I doubt the next Comptroller General will be so honest and vocal. But the truth is now out there.

This issue HP'ers, along with global warming, islamofascism and commodity wars, will dominate the rest of your time here on earth.

Here's some MSM reporting of the issue, that just doesn't seem to want to gain any traction yet. But get ready. The boomers are retiring. And the bill is coming due.

Federal government addicted to debt,' U.S. comptroller says, and the consequences could be dire

Walker: Economic mess awaits unless action is taken

The $53 trillion asteroid

The MSM and our leaders don't want you to know how deep in the hole we truly are. It's not $9 trillion folks. It's $53 trillion and growing.

Too bad the MSM keeps mis-reporting the actual amount the US is in the hole. But I guess it's just too much trouble to report the truth.

It's not $9.3 trillion as Katie Couric and every single other MSM report I've ever seen would like you to believe. If only it were such a pittance. No, per the General Accounting Office, it's $53 trillion. But shhhh.. don't want that number to get out!

From the GAO report, for all to see, but for the MSM and sheeple to ignore:

As discussed earlier, federal debt managed by the bureau totaled about $9 trillion at the end of fiscal year 2007.

However, that number excludes many items, including the gap between scheduled and funded Social Security and Medicare benefits, veterans’ health care, and a range of other commitments and contingencies that the federal government has pledged to support.

If these items are factored in, the total burden in present value dollars isestimated to be about $53 trillion.

HousingPANIC Stupid Question of the Day - Retirement Edition

1) Do you think you'll have enough money for a comfortable retirement?

2) Do you plan on receiving the social security benefits that have been promised to you?

3) What % of your income do you save today for retirement?

4) Where would you like to retire?

5) How old are you, and what age do you plan on retiring?

HousingPANIC Stupid Question of the Day (Retirement Edition)

1) What age do you plan on retiring (and how old are you now)?

2) How much do you think you would need in the bank (in today's dollars) to retire? Are you on track?

3) Do you plan on any social security money being there for you?

4) Where would you like to retire and what will you do?

5) Homedebtors - are you concerned that your retirement fund (aka home equity) is disappearing?

Any other general retirement thoughts or advice post them here