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“Obama Says U.S. Long-Term Debt Load ‘Unsustainable’”

May 15, 2009

Breaking News: “Malaysia confirms first case of A(H1N1) flu.” Full report here.

... so reported Bloomberg here.

Anyone who has a jot of brain would have known that long ago.

Obama is merely stating the obvious. But the timing of his statement is significant. It means it’s only a matter of time — days, weeks, a few short months — before the US Treasury (reads the Federal Reserve) will come out and say something to this effect: “US is in no position to service its debts and the US government will be repudiating all debts it owes the world.”

Go figure out the ramifications and, yet, we are still stuck in the deep-end arguing among ourselves who the rightful state government in Perak is? This is small potato compared to the larger world crisis that’s fast unraveling and speeding towards the next phase. Kaboom!

Come on folks, as much as we would like to believe that this worst case scenario would not happen, let’s be prepared for it.

Stop wasting time jostling for control of Perak and get our attention diverted but rather ask the government what has it done to prepare the rakyat for this catastrophe that will result in further over-night disappearing jobs, uncontrollable rising prices and life-harrowing depleting incomes.

Is the country self-sufficient in essential food items? Are we prepared for our survival in the event a world war breaks out?

All said, our powers-that-be have totally become irresponsible to the rakyat and country with the sandiwara that’s being staged now.

To get a better ‘helicopter view’ of what’s happening around us, go read here, here and here.

Good luck.

From → World Watch

One Comment
  1. lawrence permalink

    Ewoon, what is also important is whether our banking system is also going to fall in the pit, I notice that CIMB have closed some of its branches and service centres- 2 of which I notice personally are the ones in Center Point, Bandar Utama and in Amcorp Mall in PJ. Maybe there are others elsewhere. I am sure some of our bank ceos in the past have been quite adventurous as their US counterparts, what more some of these ceos have US jews as their investment advisors. I am not surprised that some may have been involved in the SIVs and the derivatives as well. We should expose the banks who are in this category so our savings will not be in jeopardy. Keep posting man.

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