Posted on 07/15/2011 4:35:31 AM PDT by blam
The reason everyone thinks Ron Paul is a Kook is because he is the only one willing to admit the Truth.
You want to be armed with a little bit more than the truth at this point.
Ron Paul and people like him are about the only sane ones left.
I know, and that is the definition of insanity. We are in big trouble.
For your further interest, from Ticker Guy’s wonderful blog:
http://market-ticker.org/akcs-www?post=190036
Now, as to the more serious issue (Paul simply isn't serious): what happens if we default? Really, not a lot. Who do we default to? 1) U.S. bondholders. But a default doesn't mean you don't pay people ANYTHING, it can mean you pay them only some of what they are owed. 2) Foreigners. The Chinese, because of keeping their currency fictitiously low, have in essence increased our debt. This would partially restore real values in their case. In the case of the Euros, it would shift a transfer of wealth from Euro bondholders to American taxpayers---in essence, a reverse of the Marshall Plan . . . or a repayment of it.
What default really does is to remove one of the major sources of trust in the USA that other nations, no matter how much they hate us, have always had: that we are financially solvent. In essence, this would be a financial "nationalization" of foreign wealth (and some American wealth too). It would undermine Hamilton's great objective of making the U.S. always credit worthy.
Is it worth it if it puts us on a balanced budget and the road to fiscal responsibility? Perhaps.
Maybe Trump and Rubio have it right. To me they are the only ones making sense. At least I can relate to what they say.
It was Clinton that changed us to Short-Term Bonds.
i LOVE Rubio more and more!!
The article is filled with hyperbole and fear mongering. It gives few details about the causes or the consequences of a financial meltdown. What, for example, is the likely affect of a government default on the ability of the citizenry to pay income taxes?
He seems to make sense. So does Trump. We need to liberate the Free market from the central planners and socialist engineers. Also Obama is illegal and the GOP is full of a bunch of Stiffs. In addition to all the BAD DEALS we get in the world economy.. Those two would be a good team.
Yawn. The apocolypse card has been overplayed.
FINE BY ME~!
MUCH BETTER THAN GIVING ODOOFUS ANOTHER BLANK CHECK FOR $$$TRILLIONS
YOU ARE CORRECT
CLINTON STARTED THIS SHORT TERM BOND MESS
ROSS PEROT POINTED IT OUT AND GOT LAUGHED AT
A debt default by itself solves nothing, at most it buys 3 years of time.
The core problem is over-spending growing at a rate so fast that a full debt default won’t even be felt after a few years...the new debt from over-spending will eclipse it.
Obama is having a HUGE BIRTHDAY BASH on AUG 4!! HUGE FUNDRAISER!! Gonna look REALLY bad.
I was reading it earlier. Outstanding as usual.....scary reality check.
Bernie Madoff is right - the entire govt is a ponzi scheme.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.