Posted on 08/10/2011 7:27:20 AM PDT by PieterCasparzen
Turn on Fox Business if you have it.
They're all over the REAL situation, the $15 trillion U.S. debt - are we acknowledging that the principal will not be repaid ? Mark Steyn is ON and wants to know.
The Judge was on before.
IT IS FANTASTIC THIS MORNING...
don’t get fox business.
summarize please.
We just spent more.
This is news?
Translation : Gold is going to $10,000 an oz.
Wake me when they start seriously talking about the other $200 trillion or so we’re in the hole for unfunded entitlements.
My opinion is we don’t even deserve the AA+ rating. Any country that spends more than it takes in then continuously asks for more credit to continue spending more than it takes in should get a BBB rating or less.
Stey broached the subject of U.S. Treasuries seeing current save-haven status as a mirage of safe haven.
You saw it here on television for the first time.
The big dirty secret.
Where will the CASH ever come from the repay the principal - close to $15 trillion ??????
The government is losing well over $1 trillion annually. This is a classic ponzi scheme.
Steyn pointed out a specific year, I think 1768, where the French government was using 60% of their annual revenue just to service their debt - and, he said, you know how that worked out.
We’ve finally heard someone on television point out the nude emperor of U.S. Treasuries ! Perhaps a few, maybe a dozen, of those clueless people who just want to “get the guy from their party elected” will start to realize (light breaking through clouds, cue music) that the Federal government IS LIVING WEEK TO WEEK - IT HAS NO CASH OTHER THAN WHAT IT RECEIVES. And it needs 50% more than it receives, so it borrows that. With no intention of EVER paying back the principal !!!!!!!
Judge Napolitano previously very ably described how we certainly need a return to free markets and an end to government meddling in markets.
I can’t type fast enough I’m so amazed while I listen, sorry.
Perhaps the video will be on the internet soon, I hope so.
I’m no fan of Judge Napolitano as a business analyst
but if you don’t get FBN, you can watch Cavuto videos here
Cavuto one of the last “take no prisoners” host on FBN
Of course, my amazement is that NO other channel will permit this question to be raised - talk of U.S. default on Treasuries is strictly forbidden to be spoken of.
Or perhaps - NO ON on television anywhere in America happened to have thought of the possibility.
See, TV in America still controls the minds of countless rubes - and those are the ones who keep Dems in office.
The trouble with our media is that they refuse to do their job and have become a propaganda arm of the Democrat/islam/communist/revolutionary/bigbusiness/environmentalism cabal.
I’m just hoping more folks give Fox Business a try - it’s good a laugh - as long as they continue to at least a TEENY bit do their job of maybe questioning something here and there, like the $15 trillion the Federal government owes but in no way can ever repay.
I’m not used to hearing ANYTHING on TV but painfully obvious distraction and propaganda.
Of course it won’t be paid.
You don’t just write a check for 15 trillion.
Oh yeah, and court ruled unconstitutional Obamacare is about 2 years away...
Should be fun.
thanks.
i get and watch cavuto.
i like napolitano. he’s better than bill o’reilly and his herd of moo cows.
a conservative president who relied on americna and canadian drilling for oil, gas, and shale; and
cut off oil imports,
meanwhile whittled down some entitlements,
would have a chance at it.
Thanks FRiend
The Federal government lives literally month to month - just like someone buried in credit card debt.
Someone who takes home $3,000 per month and has credit card debts of $40,000.
They pay the minimum payment and have diddly left over.
The only differnce between that and the Federal government, of course, is that the Federal government is borrowing another $1,000 every month, adding to their debt.
There is no bank account with a bunch of cash reserves. The Federal government literally has no supply of cash to see them through ANY halt in revenue OR borrowing.
We are entering a phase of pure money printing and headed towards imminent complete collapse.
The gig will be up when a tipping point is reached - when those who own Treasury debt start selling it.
I think within a few months we will see this start. Once it starts, Treasuries are shot. When other governments demand payment and will not buy new debt to roll it over, the U.S. dollar is shot, the U.S. government will lose all credibility and be unable to pay it’s bills.
Hopefully we can make it until the 2012 elections and a new President who outright promises extreme termination of Federal spending, i.e., almost a complete and permanent shutdown of Federal bureaucracy, could possibly allay the fears of the owners of U.S. Treasury debt.
Yeah, I wonder what OUR credit scores would be if we did that.
Dave Ramsey personified the U.S. govt. spending and debt as follows:
John and Jane Q. Public earn 57k annually
They spend 75K annually
They have 325K in credit card debt.
This has to stop and won’t be pretty for many years.
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