[bravedog]

Scary, and true. Anyone who shops in the grocery store knows the dollar is tanking. This guy also knows that the government cost of living calc is a sham and he has recalculated cost of living based on the way they did it pre-1990’s. And it’s not pretty. As soon as people realize this is true then everyone is going to empty their IRA’s and the dollar is dead.

The sad part is that neither Obama nor Romney talk about important issues like this. Issues that are vitally important to our existance as a nation.

[The Sons of Liberty]

If Romney wins, even before he is inaugurated, he needs t sit down with Bernanke and lay down some rules.

[yefragetuwrabrumuy]

There is another alternative, and one that should not be dismissed outright. This is for the United States to renounce its national debt.

After the huffing and puffing have finished, the reasons for *not* renouncing the US national debt amounts to three things.

1) We’ve never done it before and it would ruin out credit rating.

2) It would make our creditors like China and the sovereign wealth funds mad at us.

3) It would ruin our exports, which would have to become commodity swaps.

Okay, we are how many trillions of dollars in the red, and projecting to go how many trillions more in debt? If this were your spouse, the *first* thing you would do is cut up their credit cards. Then we tell the spendthrift to balance their budget, because there is no more credit for them.

Second, the US creditors did not loan us their base capital. They loaned us the ridiculous profits they made from selling stuff in our markets. So while they won’t *like* losing their profits, it is not going to kill them.

Third, a lot of our exports are essential to other countries, and so they will most certainly give us stuff in return for them. Swaps with no debit and no credit.

All told, I can imagine the biggest complainers to renouncing our national debt will be politicians who *like* deficit spending. They will bitterly oppose having the faucet turned off. Well, tough.

However, after a brief international hubbub, with internationalists trying to foist an international currency on us, fat chance, the world will again become extremely dependent on the dollar, because in the final analysis, no other currency comes anywhere near its reliability.

It makes me laugh when some suggest that the Chinese currency could replace the dollar. Yeah, good luck with that, and your new Chinese overlords.

[familyop]

"Williams says, 'There’s no way the consumer can fuel the economic recovery, and there is no way we’re going to see one in the near future.'"

We, the lowly consumer, were the producers in an economy that included a large manufacturing base along with agriculture and harvesting of natural resources. The political/regulator class of today continues to suck wealth from the debt regime and shut down manufacturing. Geniuses in contemporary politics continue to shout that we can be rich from commodities without the large and diverse manufacturing base (diverse: read as competitive).

The process of collapse will be completed regardless of who prevails in politics. The two sides are only competing fighting more hysterically each year for the increasing and worthless pile of debt. Have fun. Enjoy the slide.

[fhayek]

We have two concurrent forces going on here. One, we have a sytematic war on production in this country (aka the Obama administration) and Two, the massive and arbitrary increase in the money supply by Fed. If this doesn't cause inflation, then the basic laws of economics will have been overturned. Of course, we do have inflation now, its just our officially reported inflation numbers are as phoney as our unemployment numbers.

[hosepipe]

You ONLY have a deficit IF you spend more than you take in..
STOP SPENDING as much and the deficit retreats..

STOP SPENDING a lot and the deficit ceases to exist.. Duuuuuugh!...

[CommieCutter]

bfl