In 1992, I read Bankruptcy 1995: The Coming Collapse of America and How To Stop It, by a captain of industry, Harry E. Figgie, published by Little Brown and Company. Now, 29 years later, as our national debt is soon to reach $30 trillion, we should re-consider many of Figgie’s observations. Here are the notes and excerpts that I extracted from the book:

Bankruptcy Looms

Harry Figgie, here and for all that follows: Within two to four years, the United States, for all practical purposes, will have spent itself into bankruptcy. Interest on the national debt will become the largest item on the federal budget, and the government will have to spend more to make its interest payments than it will collect in taxes.

The federal government’s deficit, will soon be an amount un-repayable or controllable.

Suppose you earn $50,000 annually, and you are in debt for $450,000. “Are you broke at that point? Technically, no, but you sure have a serious problem, and so do your creditors, since you won’t be able to make your payments.” Soon, the U.S. won’t even be able to afford the annual interest payment on this debt.

Spending cuts that Are Obvious

The Grace Commission report outlined how the government could cut its spending by $424 billion a year between 1984 and 1987, however, the report was ignored.

Most of the recommendations were painfully obvious. One proposal called for closing a western army base that had been built in the 1800s for use as an outpost in the Indian wars. Another base in Virginia was so antiquated it had a moat around it but the state’s junior senator insisted that it “would not be closed on his watch.” It wasn’t.

Year after year, Congress and the Administration present a budget to the American public that shows the deficit being reduced by several million dollars, while the actual deficit at year’s end comes out much higher. Meanwhile, everyone manages or pretends to remain ignorant of our impending physical collapse.

Unable to Meet IMF Standards

Only one important difference separates the U.S. and many Eastern European and South American countries that we think of as being poor or economically distressed. These countries receive aid from the International Monetary Fund (IMF) and the U.S., ignoring reality, pretends that it is still rich enough to contribute money to the fund.

Countries receiving IMF aid must conform to spending controls. If the U.S. abided by these rules, it would literally be out of business. We do not qualify for an IMF loan.

When the Federal Reserve begins to buy substantial amounts of the governments debt, large private investors become overly concerned with inflation, interest rates begin to rise, and the process builds on itself. To protect yourself, watch for stories about bankers and economists fretting about the expanding money supply.

Decline in the Standard of Living

Some people believe that the debt hasn’t caused their standard of living to suffer, but there has been an actual fall in real family income, the percentage of Americans who own homes, and other vital indicators.

Moreover, personal bankruptcy is nearly triple what it was in the 1960s and 1970s, the cost of higher education exceeds the means of most families, a higher proportion of families require two parents bringing in income, and the age at which first homes are purchased is rising.

The solution involves unrelenting pressure on Congress. Call, write, visit. Be assertive but courteous. Convey your concerns clearly and forcefully. Demand that your elected leaders and officials be accountable to you.

The End of Modest Measures

The time for modest measures has passed. We are in an emergency situation.

The author admonishes: “Get it out of your mind that economic and political collapse can’t happen in this country, or that we can deal with it once it happens.”

Harry Figgie concludes: We must either take control, or suffer the consequences of losing control entirely.

– – – – –

Apparently you aren’t allowed to ask pointed questions that make the leftist overlords look bad. Check out PolitiCrossing Founder and motivational speaker Chris Widener’s post that earned him the threat:

If Covid was so deadly, would Democrat politicians get caught without their masks dining at French Laundry? Or going maskless in their private jet terminals? Or at the ball games they attend? Would they really risk their very lives?

If the seas were really going to rise from global warming would Obama really own thirty million dollars of beach front properties?

If this is so deadly, would they allow us to pack hundreds of people into an airplane eighteen inches from each other (yet require you to “social distance” while you get off the plane)? Would they allow thousands of people to use the same touch screen to check in in airports like I just did ten minutes ago?

You have been fooled my friends. Look at what they do, not at what they say. The biggest scams in human history are being pulled on us and half our country goes along with it because they have no discernment of right and wrong or truth and error. And worse, when you call them on their BS, they act indignant and curse and belittle you.

Why would they keep virologists from the best schools in America from getting their message out that this is a scam? Why would they keep you from using medications that have been around and safely used for decades?

We simply cannot continue to allow these shysters to harangue us into complicity. I for one will continue to fight until my dying day for truth against duplicitous manipulation.

If someone told a crowd of 1000 people that they have to shut down their businesses and stay home from school and wear masks or else ONE of those 1000 people would die in the next year, would you do it? Of course not. That’s the math, and only if you believe all the reported cases of death by Covid were actually true but of course we know that many deaths were categorized as Covid deaths but weren’t.

And yet that is exactly what we have done.

Why would they roll out a vaccine that doesn’t even keep you from getting Covid and has tons of side effects and roll out national marketing campaigns to pressure everyone to get it?

What’s really going on here?

It is time to put on your thinking caps, my friends. Just because someone in authority says something is true doesn’t make it so.