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Spending our way to financial ruin (each American household owes $455,000 for entitlements)
San Francisco Examiner ^
| 12/22/07
Posted on 12/22/2007 7:22:36 AM PST by Libloather
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To: WILLIALAL
The dollar has been far lower then it is today. Back in the 1970s under the guidance of Jimmah Cahtah
Is this where we want to be? The same economic conditions that existed then?
You seem to believe this is where we are headed, I do not
Back then about 25-30% of the entire worlds reserves were in dollars versus about 65% now.
The reason there has been such a large increase, is the fact that we are carrying such a large trade deficit. The scary thing is the dollar has declined this much in a time of economic growth in our country.
We are by far the worlds largest consumer. If they choose they may ask us to pay them in Euros, or Kroner, or Marks, or Yen. So why don't they? The answer is quite obvious, they want our business and do not want to price themselves out of OUR market. Until such time as America ceases to be the engine that pulls the worlds economic train, the dollar will continue to be the currency of choice for the plurality if not the majority of countries.
Over the years the dollar, like other currencies rises and falls and currently it is at a level close to it's historical average if not a tad above. It has even been strengthening relative to the Euro over the past few weeks. The whole thing is nothing more them media scare tactics designed to make people think the end is near and it is, of course, Bushes fault.
Have a Merry Christmas and a nice glass of wine. Don't worry about the dollar, it'll be just fine and so will we. After all we represent about 25% of the entire worlds GDP and as such we will remain at the fore for a long, long time to come.
To: aroundabout
If and when the sh*t truly hits the fan on this tired old planet, you will see a surge in the dollars value unprecedented in history as traders dump other more vulnerable currencies for the safety of the USA backed currency. That's true as long we maintain a position as the primary superpower in the world. The dollar basically is accepted anywhere because the bearer can always cash it in. If that ever changes, we become the Weimar Republic.
42
posted on
12/22/2007 1:01:53 PM PST
by
Bernard
(If you always tell the truth, you never have to remember exactly what you said.)
To: Libloather
I don’t “owe” nobody nuttin!
43
posted on
12/22/2007 1:02:20 PM PST
by
lonestar
To: BipolarBob
Go ahead and ruin my delusions with the ice cold water of reality. hehehe...that's a conservative's job, isn't it? ;-)
44
posted on
12/22/2007 2:20:44 PM PST
by
Gondring
(I'll give up my right to die when hell freezes over my dead body!)
To: Bernard
"That's true as long we maintain a position as the primary superpower in the world." Nothing is forever but given our current military capabilities and our ongoing R&D programs to advance them, I cannot envision a future when we will not be the preeminent military power.
To: Libloather; Abathar; Abcdefg; Abram; akatel; albertp; AlexandriaDuke; Alexander Rubin; Allerious; ..
Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
46
posted on
12/22/2007 3:51:15 PM PST
by
traviskicks
(http://www.neoperspectives.com/Ron_Paul_2008.htm)
To: Plains Drifter
>>>This system of government is broken. It needs to be scrapped.<<<
The next step comes when Augustus, having been granted the absolute powers, restores the republic and rules with peaceful beneficence. Good times for a while. Eventually, when the term becomes meaningless, we all get to be citizens.
47
posted on
12/22/2007 4:46:54 PM PST
by
redpoll
To: Libloather; samtheman; AmericaUnited
No problemo ! Bernanke will just print more greenbacks 24/7 and drop $$$$$$$ from helicopters.
48
posted on
12/22/2007 7:12:27 PM PST
by
ex-Texan
(Matthew 7: 1 - 6)
To: lonestar
I dont owe nobody nuttin!Hold on tight. The RATS aren't done spending your money yet...
49
posted on
12/22/2007 8:10:10 PM PST
by
Libloather
(Hillary donors find their way to the cover of Time. And the very next day they're doing it...)
To: traviskicks
Since we’re all about “sustainability” nowadays:
Socialism ...is unsustainable.
50
posted on
12/23/2007 3:33:56 PM PST
by
4Liberty
(U.S. tax laws are enforced, Immigration laws aren’t = global tax)
To: qam1
We wish you a Merry AMT,
And a statist New Year...
51
posted on
12/24/2007 11:31:51 AM PST
by
GOP_1900AD
(Stomping on "PC," destroying the Left, and smoking out faux "conservatives" - Take Back The GOP!)
To: rb22982
It should have been a private system right from the start (but then
again, that wouldn't have kept the people dependent on the state)
Maybe someday we'll turn to Chile for a model for a sustainable
retirement program (even if Chile's has had some problems).
If so, it would be an irony of history that our Federal Government
had to turn to Chile...whose system was set up by "The Chicago Boys".
(economists of the University of Chicago)
52
posted on
12/24/2007 11:38:03 AM PST
by
VOA
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