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Sunday, April 10, 2011

When Money Dies-Fiscal Meltdown Timetable

Bruce’s Poor Man Survival Bulletin
Your choice for urban survival resources

In This Issue:

1. Fiscal meltdown in spitting distance-when money dies
2. Woman lives in 90 sq ft apartment
3. More free building plans & other free goodies
4. Asset Forfeiture laws just an excuse to enrich police
5. Free Earth Day Workshops
6. Top 10 Best Freebie forums
7. The Power of Words-short film that will make you smile

"The ruling class has the schools and press under its thumb.
This enables it to sway the emotions of the masses."

-- Albert Einstein

Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year. That was not supposed to happen until 50 years from now

Laurence Kotlikoff: Fiscal Meltdown in Spitting Distance

During the past year several readers asked me when the crap will hit the fan and my response was - an average of 18 months. According to Kotlikoff, that time-frame may come sooner.

(Laurence Kotlikoff is professor of economics at Boston University, president of Economic Security Planning Inc., and author of “The Healthcare Fix.” The opinions expressed are his own.)

The two parties are having a heated debate over the Republican plan to slice $61 billion off Uncle Sam’s projected $3.6 trillion budget. If the Republicans get their way, the deficit will fall from 9.5 percent of gross domestic product to 9.1 percent. If they don’t, they’ll probably shut the government for a couple of days. Then they’ll compromise on, say, a $40 billion budget cut, having proved they gave it their best shot.

Arguing over lowering our deficit by just 0.4 percent of GDP when we need to run massive surpluses to deal with the baby boomers’ impending retirement is, pick your metaphor — rearranging the Titanic’s furniture, Nero’s fiddling, Custer’s Last Stand.

Is this malign fiscal neglect, or has Congress somehow missed what its own Congressional Budget Office is indicating? CBO’s baseline budget updates suggest the date for reaching what Carmen Reinhart, Kenneth Rogoff and other prominent economists believe is a critical insolvency threshold — a 90 percent ratio of federal debt held by the public to gross domestic product — has moved four years closer, in just nine months
Read more: Laurence Kotlikoff: Fiscal Meltdown in Spitting Distance

Related Sidebar:

Food prices are up 57% since Obama took office.

Only you can prevent government abuse…
Consider the analysis and conclusion of South Carolina Rep. Mick Mulvany, a newer member of Congress who's been looking at Uncle Sam's cooked books and is fessing up to his constituents: "It's much, much worse than I expected." Rep. Mulvany's analysis does better than most to explain our situation as a country. His apt conclusion as noted in The Wall Street Journal:
"Picture a family of four with an income of $46,000, annual costs of $78,000 and a credit card debt of $281,000... these figures are roughly proportionate to federal government revenue, annual outlays, and accumulated national debt."

If you eliminate all national defense spending, make no payments on the national debt and eliminate all spending on education, infrastructure, agriculture, and housing, Congress would still be staring at annual $700 billion deficits as far as the eye can see.

Some $65 trillion in unfunded spending for entitlement programs are NOT based on some future estimate of spending; that back-breaking number represents the discounted net present value of the current spending curve. And all this assumes virtually zero inflation.
Gross notes that Uncle Sam's unrecorded debt burden is close to 500% of GDP – a net negative national worth of some $35-40 trillion!

For an interesting look at what happens to people and nation when money dies, read this 1975 classic-it’s free at this link.

One of the best tools I own is an electric bench grinder. My axe split through downed tree limbs like butter this week…I put on a nice edge on my machete and on an old hunting knife I found!

Resource Roundup for the week…

Talk about frugal living space! And we thought the Poor Man’s cabin was small.
Woman lives in 90 sq ft apartment in NYC-View her video

Related: Living in a Cobb Home-interesting and cheap!

Store your opened chunks of cheese in aluminum foil.
It will stay fresh much longer and not mold!

Emergency Preparedness & Disaster Recovery Resources
Geared mainly toward small government and community agencies, but useful

More great free DIY building plans-storage barns and more.
At 10 x 16 ft., this handsome building is large enough for most backyard needs. It has an interior partition so it serves double duty as a storage shed and an all-weather multi-purpose room. Double doors on the side and gable end make it easy to access the space.
A free illustrated step-by-step building guide, by Joseph Turini of Popular Mechanics Magazine, includes an isometric drawing showing all building details.

This project is planned to be easy for do-it-yourself builder.
( )
Click here to find more free shed and mini barn plans >>>
( )
Click here to find hundreds of inexpensive small DIY barn blueprints, prefabs and building kits >>>
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Free Earth Day Workshops at Home Depot

Get a Free Copy of the Complete Survivalist Magazine (just pay postage) likes to call themselves "The Robin Hood of online marketplaces," and there may be some truth to that.
The Webstore platform is much like eBay in the early days -except it's free! Buyers and sellers can come together and trade just about anything without membership fees, bidding fees, or selling fees. Low fees allow sellers to sell for lower prices and this attracts bargain hunters. The way Webstore works with no fees, is that they place advertising on the site and earn all of their revenue from that.

Free books, recordings and other goodies…share this one with friends…
Thousands of titles in the public domain that you can copy and download. It's not just books, the website includes photos, videos and recordings too. The site is called The Internet Archive.

The Top 10 Forums to Find the Best Free Stuff and Freebies

Use your hair conditioner to shave your legs. It's cheaper than shaving cream and leaves your legs really smooth. It's also a great way to use up the conditioner you bought but didn't like when you tried it in your hair.

Recycle ink jet cartridges OR get a check from

Recycle electronics at, which donates to renewable energy initiatives or plants a tree for every device you donate.

Buy Second Hand to save money & reduce waste at these outlets:
These sites also sell, so you can some bucks here too!

NOW! A Breakthrough Into Little-Known Lead Generation Techniques!
No need to waste your time, effort & money any longer. Julian Lee
is willing to share his confidential secrets on how to generate a
list of quality HOT prospects that will repeatedly buy from you.
Don't miss his free video here

Important Information
You Make Up To $247/Sale!
Watch the Video For Complete Details!

Free-Cooking with kids site, offers easy recipes

Take your bananas apart when you get home from the store.
If you leave them connected at the stem, they ripen faster.

Events that affect our lives…

OPEC Ministers: We Can't Keep Oil Below $120

OPEC ministers on Wednesday brushed aside worries that inflated fuel prices will slow economic growth, saying there was little more they can do to rein in $120-a-barrel crude…that means you’ll be paying more - for EVERYTHING!
The IEA and OPEC remain at odds on the root causes of soaring crude prices. The agency points to roaring demand from Asia and a reviving West.
"The price began rising in the fourth quarter of 2010 because demand exceeded supply by 1.1 million barrels per day (bpd). At that point stocks were falling and companies were willing to pay more for oil," Jones said.
OPEC sees a market divorced from the realities of supply and demand, driven by political unrest and its worst fears.
Prices are being stoked by speculators rather than any shortage of supply.


New Dollar Coin Rumored to no longer have ‘In God We Trust’
Although it took Canadians quite awhile to accept the ‘loon’ as a replacement for the paper dollar, many Americans are reluctant to use coins (as are retailers) and the attempt at replacing paper dollars has not done well.

The government’s assumptions and values used in this study are fascinating. Here are a few:
Because coins circulate more slowly than bills, 1.5 coins will be needed for every 1 bill (note).
Dollar bills have a lifespan of 40 months while coins have a lifespan of 34 years.
A dollar bill costs 2.7 cents to produce while a dollar coin costs 15 cents each.
There are 9.5 billion dollar bills in circulation today.
There are 3 billion dollar coins in circulation today, with an additional billion in Federal Reserve vaults

According to, “In God We Trust” will now be on the rim of the new coins.


While the Constitution has been largely ignored over the last 80 years, the document is very real, and its purpose is clear: to limit greatly the powers of the federal government.

Parting Thoughts-Obnoxious, Anti-Citizen-Asset Forfeiture laws!
It ‘ain’t just for the drug war, it’s a means of keeping cops in cash

Civil forfeiture laws represent one of the most serious assaults on private property rights in the nation today. Under civil forfeiture, police and prosecutors can seize your car or other property, sell it and use the proceeds to fund agency budgets—all without so much as charging you with a crime. Unlike criminal forfeiture, where property is taken after its owner has been found guilty in a court of law, with civil forfeiture, owners need not be charged with or convicted of a crime to lose homes, cars, cash or other property.

Five days before Christmas, Cheryl Sanders of CA was pulled over for speeding in Sulphur, LA. Instead of giving her a ticket, they asked to search her car. Inside the trunk they claimed they found a hidden compartment and despite not being able to find drugs, they arrested her anyway and she was taken to jail for a body cavity search which turned up nothing nor did she have a criminal history. She was freed, but they kept her car because the car was suspected of being involved with drugs!

It’s more profitable for law enforcement to go after the ‘little fish’ because they don’t have the resources to fight back; it’s legalized bounty hunting. In NJ, police agencies used $500,000 in forfeited funds for entertainment purposes. --Carol Thomas, former Sheriff

This is just one of 100s of examples of this happening to honest Americans who have done nothing wrong. According to Steven Kessler, former attorney with of New York’s asset forfeiture unit, “the focus is no longer on combating crime, it’s on fundraising.”

You may recall a 60 Minutes piece where police in CA broke into a man’s home in the middle of the night, shooting him dead while his horrified wife looked on. Police told her they suspected her husband of growing pot on his huge ranch. Turns out this was a lie, they simply wanted to seize his property for its multi-million dollar value. Eventually, the police had to settle a lawsuit in the millions for their lies.

Americans are supposed to be innocent until proven guilty, but civil forfeiture turns that principle on its head. With civil forfeiture, your property is guilty until you prove it innocent. These laws may have started out, as they so often do, with good intent, that of targeting drug kingpins, but law enforcement can go after everyone, on a whim.

Asset forfeiture - definition & outcomes-Administrative forfeiture is the process by which property may be forfeited to the United States without judicial involvement. Federal seizing agencies perform administrative forfeitures. Seizures must be based on probable cause. The authority for a seizing agency to start an administrative forfeiture action is found in 19 U.S.C. § 1607.
Administrative forfeiture can be used to seize and forfeit the following:

• any amount of currency;
• personal property valued at $500,000 or less, including cars, guns, and boats;
• hauling conveyances of unlimited value.

Law enforcement officers seizing cash and other assets under the pretext of forfeiture and then just keeping them without reporting the seizure is just wrong and these criminals need to meet some justice!
Suggested reading: Mugged by the State by Randall Fitzgerald

This will make you smile. Watch this short, touching film about the use of words…AND share it with friends.

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