Posted on 11/16/2008 8:36:19 PM PST by Jimmy Lee
Americans have an immediate problem that we all need to face! If government deficits continue to grow at current levels, America's sovereignty could well be at risk in just 5 to 10 years. Foreign markets including the Chinese and Saudi governments holds billions in American debt, Do you want these people to dictate our financial destiny. I certainly hope not.
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Is debt ferociously out of hand? Yes. Do our creditors have the power to demand payment early? No. Will they (and private investors) stop buying bonds if the situation faces imminent collapse? Yes.
The inability for our creditors to get their money before payment is due, coupled with the corrective action of bonds going unsold, stave off total collapse.
In theory voters would be a corrective action against big spending, borrowing, etc. But our choices have been WHAT targets for spending to choose from rather than what level of spending.
Obviously, the debt is going to be renounced, and there is no force on Earth which can compel payment.
The only danger is that treasonous Americans will agree to pay rather than see the end of their precious "global economy".
The end game is this: Chinese will relieve their overcrowding by sending about 1/5 of their population to live in the U.S.
It doesn’t have to be (and won’t be) renounced. It will simply be inflated away. If that wipes out people’s savings (at least those in cash), oh well, too bad. What else are they going to do?
5 to 10 years? What about today? We have a government that 'loans' billions of our taxpayer dollars, with no restrictions, to corrupt corporations and banks - who in turn use our money to give bonuses to CEO's and shareholders, throw lavish parties at posh resorts, and pad retirement packages in the millions - all without our consent.
We have an unsecured border, and thousands of innocent Americans are being killed, maimed, robbed, raped and molested in this country every year by those crossing it, illegally. Our country, our land, our people, our constitution are not being protected by those who promised to do so.
Unemployment, forclosures, and bankruptcies are at an all time high. Costs have soared in every aspect of our lives.
The government can now take our home, our property and we have no recourse.
It is just a matter of time before the government demands that all firearms are reported (and possibly confiscated, if certain (ahem) politicians have their way.)
And now they want to 'bail-out' the automakers? The public screamed for years to build more fuel effecient automobiles - but they didn't listen. It is inevetible they will all go under - why should our tax dollar prolong the inevitible?
Sigh. I could go own and own and own. But, what's the use?
Asians look at the debtor/creditor relationship differently than we do in America. Here, if I owe you money, you have control over me, whereas an Asian is more likely to believe that the debtor has control over the borrower. When the debt gets a large as ours is to China, I believe that the Asian perspective is the correct one.
for decades they’ve been coming here having their american born babies, getting their us birth certs just for that very reason. Thanks a lot open borders.
for decades they’ve been coming here having their american born babies, getting their us birth certs just for that very reason. Thanks a lot open borders.
——”The public screamed for years to build more fuel effecient automobiles - but they didn’t listen. “
While I agree with everything you say, this one deserves some more thought on your part. I don’t think the public “screamed for more fuel-efficient autos” at all. Overconsumptive Gluttonous Americans bought SUV’s by the millions. In a free market, people “vote with their dollars.”
The American people voted by buying fuel-INEFFICIENT vehicles. The Big 3 Automakers responded to the demand and perhaps created some of the demand via advertising, but I think the fault rests on the people for their consumptive habits.
I agree. More frightening yet, our people will elect leaders that will allow it to happen. I’m always reminded of Andrew Jackson’s farewell address when the subject of banking/debt and American sovereignty come up:
“Recent events have proved that the paper-money system of this country may be used as an engine to undermine your free institutions, and that those who desire to engross all power in the hands of the few and to govern by corruption or force are aware of its power and prepared to employ it...We are not left to conjecture how the moneyed power, thus organized and with such a weapon in its hands, would be likely to use it. The distress and alarm which pervaded and agitated the whole country when the Bank of the United States waged war upon the people in order to compel them to submit to its demands can not yet be forgotten. The ruthless and unsparing temper with which whole cities and communities were oppressed, individuals impoverished and ruined, and a scene of cheerful prosperity suddenly changed into one of gloom and despondency ought to be indelibly impressed on the memory of the people of the United States. If such was its power in a time of peace, what would it not have been in a season of war, with an enemy at your doors? No nation but the freemen of the United States could have come out victorious from such a contest; yet, if you had not conquered, the Government would have passed from the hands of the many to the hands of the few, and this organized money power from its secret conclave would have dictated the choice of your highest officers and compelled you to make peace or war, as best suited their own wishes. The forms of your Government might for a time have remained, but its living spirit would have departed from it.”
Andrew Jackson-farewell adress, 1837
That was the perspective during the 1980s and 90s when the debtor nations, particularly those in South America, owed huge amounts of money to banks, which were guaranteed by the US government
It seems the last few lines have come to pass.
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