[shortstop]

It's worth three minutes of your time to hear Peter Schiff tell us about the Messiah's dilemna.

[Mark was here]

Well Duhh ... This administration including the Congress, does not planning on paying back a penny of what is borrowed. This is why they are spending like there is no tomorrow. Take cash for clunkers, they say 2 billion, payback with interest 6 billion, are they going to pay 6 billion for some long gone expense? Hell no. Long term debt should only be taken out for assets that hold their value. Everyone in Congress and Obama has been taught this, but they do not care.

[MHGinTN]

Here's the problem with Mister Shiff's routine: we cannot pay the debt with cash, so someone is going to eventually assert in a democrat oligarchy that we must pay the debt back with property and resource rights held in 'federal lands'. The federal oligarchy (we are no longer a Constitutional Republic) cannot ween itself from using credit to fund everything, so when no one wants to buy our bonds/notes, we will have sincere politicans insisting we must grant title to federal lands/resources to dissolve the standing debt so further credit can be obtained.

[John123]

The plan is to inflate away our National debt... and we wonder why the Chinese are trying to diversify in commodities.

[JustTheTruth]

History can be instructive. In the final century of the Roman Empire, rulers held on by selling their country’s assets - land, cities, farmland, slaves ... liquidating what had been built up for hundreds of years for the simple purpose of enabling the last rulers to hold on to as much power and privilege as they could, for as long as they could, in their shrinking empire’s last years.

Not a pretty picture to contemplate. Outside of the ruling elite, life became hell for the people living in the former Roman empire.

[eyedigress]

D.D. Eisenhower didn’t give a crap either.

[calex59]

He**, CA won’t even honor their IOUs, what makes the Chinese think we will honor our debt to them?