Chuck Baldwin: It's Going To Be A Rocky Road

[Cowlesy]

It Is Going To Be A Rocky Road by Chuck Baldwin, September 22, 2009

Today at 9:56am

This column is archived at
http://www.chuckbaldwinlive.com/c2009/cbarchive_20090922.html

Let's face it: most Americans live in a world of false security. This is somewhat understandable, given the fact that the majority of the U.S. population was born after 1945. Few remember the dangers and hardships of World War II; fewer still remember the Great Depression. Few Americans know what it's like to not have some sort of "supercenter" nearby with shelves stocked with every kind of food imaginable, twenty-four hours a day. Few know what life was like before there were restaurants of all sizes and types on virtually every street corner in America. And only a handful remembers when most roads were unpaved, or when sports were truly a pastime and not a megabuck obsession.

Modern living within the world's only "superpower" has created a giant unsuspecting, soft, lackadaisical, and lethargic society.

Read the Rest Here (http://www.chuckbaldwinlive.com/c2009/cbarchive_20090922.html)

[angelatc]

I just finished reading that in my email.

Pastor Baldwin sounds genuinely concerned!

[pcosmar]

It is somewhat comforting to see that others see what I see.
I am not alone. I think, I am not crazy.
I have been watching the storm clouds forming for some time.

The warnings have been given, I hope folks are listening.

[Original_Intent]

Writing on the wall. Certain parts of that article spoke very directly to me.

[RoyalShock]

In the article Baldwin mentioned the 1/3rd China-owned US debt. I saw a piece on CNBC.com not too long ago that showed the top 2 or 3 (can't remember which) US debt holders are US-based. I think the FedRes was #1. US banks and other domestic investors were high on the list, as well.

So I wonder if the actual ratio is 1/3rd of debt not held by US entities.

Still, China is a major player and holds far too many cards.

[RoyalShock]

Ok, I found some data. The US had $10.6 trillion in outstanding debt after Bush left office.

http://www.geldpress.com/wp-content/uploads/2009/02/top15-us-debt.jpg

So, according to this data China owns roughly 6.5% of all U.S. debt, but the largest portion of foreign-owned treasuries.

This link (http://llenrock.com/blog/top-10-holders-of-us-debt/), using May '09 data suggests China's portion to be $801 billion, which is still probably below 7.5%.

If you only consider debt not held by the US gov't itself (about half), China's portion is about 16%.

So I think my original suspicion is correct. it's 1/3rd of foreign-held US debt, not ALL debt.

[eduardo89]

Well China holds, what, $1 trillion out of $11 trillion federal government debt.

They are our biggest foreign creditor, but not overall our biggest one.



http://upload.wikimedia.org/wikipedia/commons/d/de/Foreign_Holders_of_United_States_Treasury_Securiti es-percent_share.gif

[pcosmar]

So this has turned into a pissing match over how much debt China holds, rather that the fact the our country is deeply in debt and time is running out.

I think you are missing the practical point.

If you are able to get out of debt, do it. If you need to scale down your lifestyle in order to be better prepared for difficult days, do it. If you don't have guns and ammo, buy them. If you have not prepared some sort of preserved food pantry, do it. If you don't have some kind of survival plan in place for you and your family, get one. If you are not physically fit, get in shape. If you are able to move to a more secure, out-of-harm's-way location, do it. (During any kind of financial or societal meltdown, urban areas will quickly turn into war zones. Can anyone say, "New Orleans after Hurricane Katrina"?) In other words, get your nose out of the boob tube, get your bottom off the easy chair, and get busy.

[catdd]

A part of me enjoys the notion that the people who refused to listen to the warnings may find themselves scrounging for their next meal.

[RoyalShock]

So this has turned into a pissing match over how much debt China holds, rather that the fact the our country is deeply in debt and time is running out.

I think you are missing the practical point.

I get the practical point. I was simply correcting a commonly misstated fact that is often used as a scare tactic. I was also a little disappointed that Baldwin, who I respect and voted for, would have stated it.

[pcosmar]

I get the practical point. I was simply correcting a commonly misstated fact that is often used as a scare tactic. I was also a little disappointed that Baldwin, who I respect and voted for, would have stated it.

Ok, I see that. But last I knew Pastor Chuck was not an economist or an accountant and I have heard that figure tossed around by many others.
Irrelevant.
Whether China or some other foreign investor, or all of them combined, the end result is the same.
I have heard concerns from several noted economists, including Ron Paul, about the danger of China holding or dumping that debt.
I don't believe it is an unfounded concern.

[apropos]

The potential good that may result from all of the above is that perhaps God will protect and raise up a remnant of people who would be willing to rebuild a place where Natural Law is respected, constitutional government is revered, and where a ubiquitous, loathsome, overbearing federal government is far, far away.

I really don't see how this belief is justified. Rome's decadent republic provided ample opportunity for greater and greater abuses of power, concluding with the overthrow of the republic by the Caesars. These emperors, we may recall, ruled for an additional ~600 years before the Roman Empire finally slid into the dark ages.

I think people who can't wait for the country to collapse assign too much power to themselves and not enough to the powers that be. Worse evils than today's are held in check by constitutional authority only. It can easily get much worse should that final restraint be removed.

[pcosmar]

Worse evils than today's are held in check by constitutional authority only. It can easily get much worse should that final restraint be removed.
And this is the the scenario I see happening very soon.
I do not expect a Revolution, or a civil war.
I expect to see a collapse, Economic collapse, social collapse , a total break down.
I expect to see Martial Law imposed and the Constitution suspended.
I hope for areas, Free zones, where people are prepared and educated survive, in some kind of relative peace. That is my hope.

[amy31416]

I've become okay with preparedness "scare tactics." Nothing I've done in this regard has harmed me in the least, and in fact, it's made things better.

I now have a sizeable garden that I just laid down some more area to dedicate to it next year. My food bills are lower and my diet is healthier.

I have a rain barrel, so my water bills are lower than if I'd watered from the tap. Plus, the plants like rain water better.

Because I bought so much flour, I've now gotten back into baking things from scratch and make killer bagels, pretzels, pizza, etc. Bagels cost $5/dozen for good ones around here, it costs me about a dollar and some time to make two dozen. And I control what's in it.

If I don't feel like going to the store, I don't have to, there's a mini-mart in the basement. If prices should suddenly soar on something, I generally have enough in stock that I don't need to buy until prices come down.

I have a big woodpile that the chipmunks thoroughly enjoy.

I have two compost heaps, so I barely have to throw anything out and if I made a concerted effort, I could get rid of city trash collection entirely if I wanted. I also won't have to buy compost next year.

I've built a small window greenhouse, so I should be able to grow starter plants myself, many of them from saved seeds. And everything is as organic as I want it to be. If I ever do have to spray, I'll know what I've sprayed with and how to best clean it.

It's actually a fun hobby that I could easily scale-up if I need to. I just don't see a downside to it.

[angelatc]

I get the practical point. I was simply correcting a commonly misstated fact that is often used as a scare tactic. I was also a little disappointed that Baldwin, who I respect and voted for, would have stated it.

So email him. He seems affable enough.

[angelatc]

And this is the the scenario I see happening very soon.
I do not expect a Revolution, or a civil war.
I expect to see a collapse, Economic collapse, social collapse , a total break down.
I expect to see Martial Law imposed and the Constitution suspended.
I hope for areas, Free zones, where people are prepared and educated survive, in some kind of relative peace. That is my hope.

Me too. But with the internet gone, how will we ever find each other?

[Deborah K]

Me too. But with the internet gone, how will we ever find each other?

HAM radios. Get one.

[pcosmar]

HAM radios. Get one.
^^
That , and runners, Pony express. Perhaps RPH can set up a bike route. :D
News may travel a bit slower. But it has been done in time past.

[amy31416]

^^
That , and runners, Pony express. Perhaps RPH can set up a bike route. :D
News may travel a bit slower. But it has been done in time past.

Pigeons!

[MoneyWhereMyMouthIs2]

I think people who can't wait for the country to collapse assign too much power to themselves and not enough to the powers that be. Worse evils than today's are held in check by constitutional authority only. It can easily get much worse should that final restraint be removed.



I agree, for the most part. A breakdown will likely be easier for prepared people, but it will suck for everyone.

[pcosmar]

I agree, for the most part. A breakdown will likely be easier for prepared people, but it will suck for everyone.

Yes it will.
Which one are you going to be?

[Original_Intent]

And this is the the scenario I see happening very soon.
I do not expect a Revolution, or a civil war.
I expect to see a collapse, Economic collapse, social collapse , a total break down.
I expect to see Martial Law imposed and the Constitution suspended.
I hope for areas, Free zones, where people are prepared and educated survive, in some kind of relative peace. That is my hope.

Maybe this should be posted under the new religion sub-forum, but your post reminded me of this prophetic utterance from an LDS prophet, John Taylor:


Journal of Discourses, Vol.21, p.8, John Taylor, August 31st, 1879
And now, you may write it down, any of you, and I will prophesy it in the name of God. And then will be fulfilled that prediction to be found in one of the revelations given through the Prophet Joseph Smith. Those who will not take up their sword to fight against their neighbor must needs flee to Zion for safety. And they will come, saying, we do not know anything of the principles of your religion, but we perceive that you are an honest community; you administer justice and righteousness, and we want to live with you and receive the protection of your laws, but as for your religion we will talk about that some other time. Will we protect such people? Yes, all honorable men. When the people shall have torn to shreds the Constitution of the United States the Elders of Israel will be found holding it up to the nations of the earth and proclaiming liberty and equal rights to all men, and extending the hand of fellowship to the oppressed of all nations. This is part of the program, and as long as we do what is right and fear God, he will help us and stand by us under all circumstances.


Just so you all know where you are welcome, if there is a complete break down.