The word “broke” doesn’t even begin to describe it.
Is that Y2K Gary North?
Yep, I believe it is.
There are about a quadrillion dollars worth of credit derivatives out there. If the economy goes TU we’re only on the hook for about $100 trillion or so. This is not including our debt plus unfunded liabilities with that price tag of $210 trillion.
Link not working for me.
Seems mighty racist.
Economists.
They’ve known what they were doing all along.
The economics were never difficult. People got their PhD’s for coming up with brilliant ways of lying about it.
These people then went on to create Common Core.
We have been doing alright ignoring it for the last fifty years.
Well so much for picking up pennies on the sidewalk
They will devalue the dollar to a small percent of what it is worth now and pay the debt in future devalued dollars. So in reality they will only pay a very small part of the true value of the debt. It’s all just a big pansy scheme.
The politicians lie, and write laws to protect themselves. They come up with these schemes and because THEY REALLY ARE ABOVE THE LAW they are untouchable. Look at Greece and that disaster. It was all done by politicians.
The politicians tax the people and name buildings and projects after themselves and everybody thinks it’s great that they spend all that money that was paid for the people. It has been this way for hundreds if not thousands of years. They create bogus crisis and all the dumbass voters are easily convinced by the media that everything is OK. It doesn’t matter who is in power. How many politicians go in poor and come out multi millionaires, while their salary was not a multi millionaire’s salary. Protesting is only for show. In reality the politicians with the help of their friends in the media will do whatever they want and laugh at everybody else.
It really bothers me to see veterans that lost a limb, their sanity and also those that died for their country only to find out that B. Hussein Obama has turned his back on Israel and is negotiating with Iran, Cuba, and North Korea.
I am convinced that this blog Free Republic’s days are numbered. So I will enjoy posting for as long as I can because the days of free speech on the internet are numbered. It will be diguised as national security, just wait and see.
As I learned while growing up: I’d rather owe it to you than cheat you out of it.
I am not so sure the camel’s back can hold a few more straws. For this reason, I believe democrats and the liberal media wouldn’t mind so much a republican getting elected.
They cannot prop it up too much longer. They know it’s got to crash. They would love nothing more than a republican taking all the blame. They would tell us it,was,good under obama.
They claim it was good under Clinton. They don’t tell us that it got bad under Bush because the Clinton administration forced banks to make bad loans.
YOU DID build that CONgre$$
Socialism Is Legal Plunder - Bastiat
6. But the grand nostrum will be a public debt…
7. 7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game. This is an essential point, and happily is attended with no difficulty. A sufficient number, properly disposed, can alternately legislate and speculate, and speculate and legislate, and buy and sell, and sell and buy, until a due portion of the property of their constituents has passed into their hands to give them an interest against their constituents, and to ensure the part they are to act.
http://www.constitution.org/cmt/freneau/republic2monarchy.htm
At what point does money just become a symbol of formality?