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Fed Slashes Interest Rate to Zero; Taxpayers Saddled with $8.7 Trillion in New DebtBy Mike Adams, December 17, 2008 | Key concepts: Federal Reserve, Taxes and Budget crisis Numbers have ceased to mean anything in America anymore. A thousand dollars sounds like a lot of money to some folks, but for others, a million is "real" money. The government usually talks in billions, and the Fed has out-bid everyone by shifting the whole conversation into the realm of trillions.To the horror of informed onlookers, the Fed's attempt to throw money at the problem has had about as much of an impact on the liquidity crisis as throwing an old shoe at the President has had on foreign policy. The American economy -- much like the Iraqi reporter who tossed his stinky sandal at President Bush -- is now beaten and bruised, trapped in a corner and probably taking it in the rear. Who, exactly, is going to going to pay all this money back? It won't be the American worker. He's jobless and about to become homeless. It won't be the American politician. She got elected by promising spending, not savings. It won't be American employers. Like the auto makers, they're largely bankrupt and out-competed by companies from other countries that aren't financially destroyed by sky-high health care costs. New York has a new idea: Let it be the American consumer! They've slapped fresh taxes onto soda, beer, wine, clothing and massages (strange mix, huh?). They're even adding new taxes to radio and cable TV services (http://www.nydailynews.com/ny_local...). The problem is: Who has any money left to buy this stuff at New York prices? Get ready for a mass stampede to New Jersey liquor stores! Why am I mentioning all this? Because it's the beginning of the massive wave of new taxes that consumers are about to see all across America. I actually predicted this two weeks ago (http://www.naturalnews.com/024976.html) -- it's prediction #7, if you're keeping track. But guess what? These politicians are in for a surprise: In order to bail out cities, states and the entire U.S. government from financial disaster, taxes will have to be raised so high that many consumers will flat out stop buying anything other than bare necessities. And as income taxes go up, the incentive to work disappears, too. America is headed for a scenario where it's too expensive to buy anything, and working a job isn't worth it anymore! Expect to see a whole new wave of people simply exiting the rat race, quitting their jobs, slashing their expenditures, abandoning their high-income / high-spending lifestyle and kicking back on the porch with a good book and a lot less stress. Because -- get this -- the only people who will be burdened with paying back any debt at all are those who WORK and those who SPEND. If you can stop working and stop spending (or at least get close to that goal), you can essentially opt out of the whole debt burden altogether. Move to a quiet, affordable town, live in a modest home, give up needless luxuries and find a simple job that pays the rent and keeps you fed. Grow a garden, mend your clothes instead of tossing them out, and buy quality items once instead of made-in-China crap that breaks every few months. It's a strategy more and more Americans will soon be turning to. And if it all sounds familiar, that's because your grandparents probably lived like this during the Great Depression.
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