18 Feb, 2015 by Dave Hodges
As many of you know, we have an $18 trillion dollar debt, a $240 trillion dollar debt, a $200 trillion dollar consumer credit debt and we have the ultimate elephant in the room, the one quadrillion dollar derivatives debt. In a country that imports 20% of its food supply, it was reported yesterday by KTAR 92.3 FM (Phoenix) that massive amounts of food are rotting on ships waiting to be offloaded and the docks awaiting shipment.
We should be wondering how much more can the economy take? What will be the straw that breaks the camel’s back?
Rotting food. How many farmers can go out of business until we have a real crisis?
This is being reported by CNN Money:
“California’s famous navel oranges and Washington’s apples are rotting in the hot L.A. sun.Meanwhile, Japanese electronics and Chinese clothing items are bobbing in the ocean within view of the shore. The Pacific Maritime Association has accused the International Longshore Workers union of creating a work slowdown that has turned harbors into parking lots and shipping containers into putrid garbage bins”.
CNBC is reporting:
“Growers and shippers are losing money on exports they can’t ship while their crops sit on the docks and rot. Flooding the domestic market would risk a price crash, and some worry they could lose business permanently if overseas buyers get fed up with spotty shipments of spoiled goods”.
Even the mainstream media gets it and there is not even an effort on behalf of the media to hide what is going on. Yet, I dread reading some of the moronic comments that I am going to see this morning which tell me to quit fear-mongering and the “economy is just fine”.
What will it be that ultimately brings down the American people? The crushing debt in this country that brings us down? Will it be the current import crisis/scandal? Will it be the truckers going broke awaiting product to transport? Will it be the farmers going broke while their products lie rotting at the ports? Pick your poison.
Where is the President on the present crisis?
Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.