"Whitey and the other Fat Cats will pay. I won."
Posted on 02/12/2009 5:04:10 PM PST by SunkenCiv
Even as the U.S. Congress looks for ways to expand President Barack Obama's $819 billion stimulus package, the rest of the world is wondering how Washington will pay for it all... "The U.S. needs to show some proof they have a plan to get out of the fiscal problem," said Ernesto Zedillo, the former Mexican president who helped steer his country through a financial crisis in 1994. "We, as developing countries, need to know we won't be crowded out of the capital markets, which is already happening." ...Zedillo said that Washington, unlike most other countries, had the option of simply printing more money, because the dollar was a reserve currency for the rest of the world. Over the long run, that could force long-term interest rates higher and drive down the value of the dollar, undermining the benefits that come with its special status. Until now, most fears about surging government debt have focused on borrowing by European countries like Spain, Greece and especially Britain, which is also in the midst of a sizable bank bailout. That bailout recently pushed the British pound to a 23-year low against the dollar... Zedillo, who remembers the way Mexico was forced to tighten its belt when it received billions of dollars from Washington to keep its economy from collapsing in 1994, was even more blunt. "People are not stupid," Zedillo said. "They see the huge deficit, the huge spending, and wonder what comes next."
(Excerpt) Read more at iht.com ...
"Whitey and the other Fat Cats will pay. I won."
Me too.
I wonder too???
that makes...ALL OF US!
So am I!
This is exactly what I’ve been thinking since the first Spendulus last September/October. I’ve actually begun spending money on things that (a) I’ve been wanting, (b) things that I really ought to have if everything goes to hell; because I figure that savings will be worthless after the administration/Congress hyperinflate the currency.
..but...but, we were told the world hated us for the last 8 years
I'm just guessing that Mexico is not about to return the favor any time soon.
>World worries how U.S. will pay for stimulus<
Why, that is easy — roll the printing presses.
The world is worried? Screw them. I’m worried Most sane non messiah addled Americans are worried too.
God, Family, Guns, and Food.
Obama has urged Americans of a need to change course, using the analogy of a "bus heading toward a cliff." Seeing the market as capable of recuperating itself, Schiff said, "Barack Obama isn't changing course, he's stepping on the gas pedal."
Too much a fan of his day job, Schiff's focus is now on expanding his business from six offices to a possible 30 worldwide. Schiff's plans may be put on hold for now, as his expansion relies heavily on the state of the U.S. economy.
"There might not be enough Americans with money left (to invest)," he said.
The world is worried about us paying...how about them paying for NATO, UN costs, Iraqi costs, costs where we have bases around the world protecting their useless asses?
Once they pony up the dough about “paying” the costs for our dead GI’s on foreign soil, they have the right to ask the Q. If not, they can F*** themselves.
Yeah, well guess what world, WE are worried about that too.
THey’re gonna raise taxes, that’s how.
“Why, that is easy — roll the printing presses”
Explain, to this old couutry boy, how that works. You don’t increase GDP but you increase the dollars that it represents, what does that result in?
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