This year, US public debt could reach end game

Asia News ^ | 03/03/10 | Maurizio d'Orlando

[TigerLikesRooster]

This is the same Greenspan who in 1977 wrote a prophetic PhD dissertation (which was removed from his university at his request in 1987, when he became Fed chairman) on how financial bubbles develop in real estate and then burst.

This is simply outrageous.

Not only was Greenspan aware of it, but so were US top financial circles. In other periods of history, this could lead to accusations of “treason”, but today our sense of personal and collective responsibility is more faded and faint than before. Alternatively, perhaps, there is a level of ultimate responsibility that is darker and runs deeper that the guilt of any one individual.[7]

I could not agree more.

[TigerLikesRooster]

P!

[omega4179]

If they can’t refi 2 trillion how will they save Medicare and SS for 59 trillion?

[MichiganConservative]

Maybe they have some other means of getting rid of those costs.

[TigerLikesRooster]

They may want to create another huge bubble, which is really impossible to do now.

[KoRn]

"They may want to create another huge bubble, which is really impossible to do now."

Every successive bubble expands less, and requires more 'oxygen' to inflate. Pretty soon, there can't be any more bubbles, because they can't.

[SamiGirl]

Maybe they have some other means of getting rid of those costs.

Maybe they do, such as confiscating 401Ks and IRAs.

[omega4179]

Yes a 3 pronged approach
1- Debauch the currency
2- SLASH SS and Medicare
3- Seize 401k and IRA funds “for the common good”

[Diana in Wisconsin]

[MichiganConservative]

You can only confiscate IRAs and 401ks once. Then the people will continue to get old and sick.

I was thinking of that Type O Negative song “Kill All the White People Then We Will Be Free”.

[TigerLikesRooster]

With costly new spending program like Obamacare, U.S. finally crossed the event horizon. It is a matter of time that its economy will implode. The only silver lining is that most of other countries would implode as well, which may fare even worse.

[Diana in Wisconsin]

The US Misery Index (Unemployment + Inflation) is at 12.33% & rising. We’re going to be PRAYING for the relief of ‘The Carter Years’ pretty soon...

http://www.miseryindex.us/customindexoneYear.asp?StartYear=2010&submit1=Create+Report

[CharacterCounts]

If china does not think it is wise to invest in US treasury obligations, why should Americans?

No right thinking, middle class American, should have any of their investments financing this debacle called the Obama administration.

[MaxMax]

Good, pop the damn bubble and lets get the ball rolling!!!

Oh, and lets not forget to blame everything on the GOP and Bush.

FUBO

[misterrob]

At some point people are just going to have to say no to the elderly. It’s cold but there is no way I am ever going to go along with having someone take my money that I should be using for my son.

Ask your own kids to bail you out.

[RC one]

I wonder if we’ll look back and wish we had bought more military or less.

[bert]

Being aware and bring able to control progressive nation wrecking congressmen is an all together different kettle of worms

What it all boils down to is an increasing price of gold. It must rise because there is not enough to accommodate all the money sloshing around at current rates

One wonders why the article onitted USA silver reserves in the listing of assets?

[KoRn]

That’s probably the best scenario we could hope for...

‘We are screwed, but “they” are screwed worse”........

[Diana in Wisconsin]

“Ask your own kids to bail you out.”

ROFLMAO! I keep suggesting my kid (22; shiftless, aimless...) join the military. He’s been unemployed for about 6 months now and driving me insane with his attitude! He doesn’t live with us; he can borrow the couch from time to time, and I’ll always have a hot meal for him, but beyond that, he’s on his own.

And I know just what you mean; I’m currently supporting FIVE Seniors on SS and Medicare. Mom, Step-Dad, my Dad, and my in-laws.

Grrrrrrr!

[Molly T.]

If one has any savings left ....just what are they supposed to do with it?