To: TwelveOfTwenty
That is because the economy isn't growing on its own, but by borrowing foreign money to pay for unemployment benefits and make work jobs. The foreigners don't even want our debt anymore. China's decided to buy gold, instead. Last year, 61% of the debt was purchased by the Fed using newly-printed money.
8 posted on
05/12/2012 2:56:28 PM PDT by
BfloGuy
(The final outcome of the credit expansion is general impoverishment.)
To: BfloGuy
Nobody wants our paper. It is worth less than toilet paper. It is being paid back with inflated dollars yet pays close to nointerest!
11 posted on
05/12/2012 3:39:36 PM PDT by
Jim from C-Town
(The government is rarely benevolent, often malevolent and never benign!)
To: BfloGuy
Last year, 61% of the debt was purchased by the Fed using newly-printed money. Do you have a source for those numbers? I'd like to know who the remaining 39% was purchased by.
12 posted on
05/12/2012 3:44:23 PM PDT by
TwelveOfTwenty
(With choices like Palin, Cain, and Bachmann, what could go wrong? Now we know.)
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