Preppers’ PING!!
EBT All The Way, Baby!
Time to stock up on Ramen soup and vienna sausages.
$17 trillion is only $1.3 trillion in 1929 dollars.
(The national debt was $17 Billion in 1929 or 75 times less in same dollars.)
No, you won’t.
I’ll be using your credit card at that point.
Well, at 40-something I am thankful that I had the chance to live in and enjoy a period of history that will be known as “America before the democrats/liberals/progressive/****les Detroited it”.
And if the debt ceiling is increased, eventually the fallout will be "catastrophic" and last for generations.
No matter what any person or persons do or don't do, there is "much unpleasantness" that lies ahead.
Not that I want to be contrarian, however, we have just discovered thru fracking, huge reserves of oil and natural gas. We are not about to go broke. That said this continued spending is irresponsible at best. The interest on our debt could easily consume all the oil reserves and then some if we were to cease being the reserve currency.
If a man had a gold coin and had no water and I had a glass of water - which is more valuable?
If a man had a house and had no water and I had a glass of water - which is more valuable?
You can say that about a bowl of oatmeal or a Ramen noodle cup - if someone needs food, either of those lowly items are worth more than gold or houses.
Its already gone up quite a bit. Even my 21 yr old son has noticed the price of milk. $4.59 a gallon yesterday
These "subsidies" consist largely of "tax breaks". So if the federal and state governments were to collapse, it's not as though these enterprises would lose their subsidy!
And many sheeple will demand a government solution
The whole frigging world is buried in debt. After the SHTF, I hope you can find some fool willing to accept your credit or debit card for real goods and services.
BTW, does the IRS accept credit cards?
A million dollars that isn't borrowed by the government and paid into welfare is a million dollars that media and businesses don't get their share of.
This is why the Tea Party is hated by the media and opposed by many businesses.
It's a command economy. The command is: "Don't worry!"
I love camp.
interesting isn’t it, that the Fed has almost the same amounts in assists that the USA has in debts? (~17T Trillion)
A list of these subsidies would be nice, to prove the author isn't just some idiot hawking gold.
food will triple… heat, electricity, everything subsidized by the government will triple overnight…
Which of these does the government pick up 67% of the cost?
Given that we are now in more debt as a nation and individuals than ever before,
Individuals have been reducing debt.
Your income will take a necessary 25% pay cut to keep your job in this bad economy. “You should be grateful, some people are still looking for work”
Much of this chaos could be alleviated quickly with a Republican congress and POTUS doing several things.
1) Reducing the size of the federal government by about 50%, as well as removing the vast number of economic governors that prevent the economy from working.
2) Abandon several of the treaty organizations, even the WTO, NAFTA, GATT, FTAA, etc. Basically halting imports, so if corporations want to sell it here, they have to make it here.
3) Conclude multi-trillion dollar virtual debt by calling them. If the derivatives market cannot come up with the $100 trillion or more it has been gambling, it is bankrupt, and the US has no obligation to bail it out. The same applies to hedge funds, and all other Wall Street “heads I win and tails the taxpayers lose” gambling operations.
4) A balanced budget amendment, with a fixed, $100b a year payoff of the national debt, on top of the $225b annual interest that is being paid.
bttt