Great Depression, Anarchy, Burning Cities in America?

NOVANEWS

Expect rioting like London has now in America in the near future if Lawmakers can’t figure out the formula to create new jobs and revenue for our Treasury.

by Terry Richards

Simply put, “What we have here is a failure to communicate!” Last Friday Standard & Poors (S&P) dropped the U.S. Credit Rating from AAA to AA+, and stating its reasons in pertinent part:

“The political brinksmanship of recent months,” the company said, “highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.”

S&P also pointed to political reluctance to make cuts to entitlement programs such as Medicare and Social Security, and Republicans’ refusal even to consider increasing revenues by, for instance, ending the Bush tax cuts. Read full S&P Overview of Downgrade.

Will Afghanistan & Iraqi War Veterans have to March on Washington, D.C., to get their Disability Compensation & other Benefits like World War One “Bonus Marchers” had to do just to get a $500 Bonus they were promised?

On Monday, August 08, 2011, the Dow Jones Industrials (DJI) dropped 5.55% or 634.76 points to 10,809.  It was the first time the DJI was below 11,000 since November or December of 2008.

As previously stated in a recent story, the Bush 43 tax cuts for the Rich are still in place and yet we have “real unemployment” of over 15% or over 24-Million unemployed.

Increases of around 125,000 jobs a month are

needed to keep the unemployment rate steady, while about 200,000 a month would bring it down a percentage point over a year.

Only 117,000 jobs were created last month. So until the Treasury gets more Revenue from payroll taxes, we need let the tax cuts for the Rich expire and raise taxes for Millionaires and Billionaires to pay their fair share of taxes, which they are not doing at this time due to loop holes created for them in the tax code system.

So just cutting the Budget, especially the entitlement programs without a formula to raise Revenues will not stimulate the economy into recovery, especially in creating more jobs so Americans can pay their bills, buy food for themselves and their families, not be evicted or foreclosed on, and so that consumers can spend more money to help further stimulate the economy. Until

One of the most famous phtotos of Hippies in a Peaceful Demonstration for Social Change placing flowers in the rifle muzzles of Members of the National Guard. Maybe these kind of Demonstrations need repeating for the changes we need now?

Failure to do the above and more, will just cause more unemployment and a Great Depression, Anarchy, and Burning Cities! and more crime because people are not going to let themselves or their spouses or children go hungry, and homeless if possible, so they will go out and commit crimes to get the money they need.   The cost of this type of crime monetarily and in human suffering or death thatjk the cost more than paying entitlements in most cases.

Additionally, the Recession has made the racial wealth gap extremely worse which also causes more crime to be committed. Recession worsens racial wealth

Whether we the United States falls into a Great Depression fermenting Anarchy, Riots, Looting and other Violence in America in the near future like London and other Nations are experiencing, depends upon whether Lawmakers can figure out the formula for the necessary Tax Hikes of the Rich and America’s Private Industries to create new jobs, more consumer spending, all of which create the Revenue we desperately need for our Treasury.