[LibLieSlayer]

I know that many of you think that we can grow our way out of this... cut spending and pay this debt off... but take a little time and work out some math. The only way out is to default and start over... this time permanently on the Gold Standard. We are going to have to do it regardless of what anyone says. When we do it is the question. The sooner we do it... the sooner we return to prosperity. The problem as I see it... there is no political will in either party to do the hard things... to paraphrase Kennedy ... and I am not praising him... just using something that he said was true... we must do this and the other things... not because they are easy... but because it is the only way out of depression.

LLS

[TheWriterTX]

That is correct. We cannot grow our way out. We have already reached the economic tipping point, where our Debt to GDP ratio is so high, any further increases in debt cause a corresponding contraction in the private sector.

They don't want to admit what a lot of folks are now starting to realize: unmanaged collapse is coming unless we drastically reduce the level of debt and public spending. Their choice, raising taxes, sucks even more money out of an anemic economy.

Let's bleed the patient to feed the leeches. Dumb move.

[wastoute]

A while back some FReeper posted an article about how the gold standard really wasn’t better than the fiat currency we have now. In fact the reason we have fiat currency was chicanery with the gold standard. Unfortunately, the real problem is as Shakespeare wrote ong ago, “not with our stars but ourselves”.

Samuel told the people they shouldn’t have a king but instead of the hard thing (telling Samuel that his sons were corrupt judges and doing something about it) they asked for a king. Same problem, same mistake. I am with Beck on this one. Jesus is and has always been the only answer. How we love one another is how we are known. Good or ill.

Of course He pointed out that we would need a “sword and a purse” in Luke 22. I have a feeling there is gonna be some serious zombie killing and that may have some impact on “how we are known” but I find nothing in His word that requires me to be a helpless victim.

[Aevery_Freeman]

I was a gold bug. I still have a goodly stash of gold and silver just in case - it keeps better than food. But I also have a stash of wine for the same reason, to retain wealth.

Another FReeper turned me on to this documentary and it was a revelation.

What is important is the quantity of money and the abolition of the Fed. Please watch all two hours, it's not cheesy or maniacal. It is the system proposed by Thomas Jefferson, Benjamin Franklin and Thomas Edison.

The Secret of Oz

[rarestia]

"the American electorate has dug in against both major tax increases and major spending cuts."

The Liberal morons of the American electorate have dug in against cuts. I, for one, am all for them! Cut them down to the nubby, bloodied, nerve-frayed, marrow-oozing bone! And for the love of God, reform our tax code. Flat tax, fair tax, whatever... just ensure that every citizen of this country is paying a share of the tax burden.

[bert]

Growth is but one prong of a multi pronged solution

It can be argued that the decline in the value of the US$ correlates directly with the price of gold. A projection of the Kittco 10 year chart gives a pretty good picture of the future declining value of the US$. It can be argued that we are presently on a gold standard imposed by the markets.

In a recent e letter John Maudlin advised that Europe is already on the gold standard with the €uro being the proxy for gold.

The other prong to tie it together is inflation. Inflation of the prices of stuff including gold and oil, inflated valuation added to actual growth, all compounded, will be the only solution All that is presently under way.

[ClearCase_guy]

I favor default. Heck, I favor a Jubilee. I think the world’s entire economic model is completely tainted. I would not burn it all down overnight, but I think we need to cancel the debts and start over on firmer ground.

[Smokin' Joe]

Actually, the way out is to stuff the Federal genie back in its Constitutional bottle, which would eliminate a huge number of programs and Departments.

Not gonna happen.

People don't want to be free. They don't want to grow up, be responsible for their lot in life, and act like adults.

We have a neotenic population,and that will be our demise.

[NELSON111]

You are correct sir. That is why I chuckle at times when Freepers wonder what the GOP is doing.

You see...these guys in DC..both the dims and the GOP...AREN'T stupid (OK...some are...). They may be crazy...they may be self-serving hypocrites and liars...but they are NOT stupid. To do what they CONTINUE to do (And this means the GOP) is idiocy...and they are NOT idiots.

They understand that they only way out of this mess IS to crash the system.

Now the PROBLEM is what are they going to REBUILD from the ashes? Therein lies the rub. I know the dims are trying to deliberatly crash the system as to bring about a socialist state. I have yet to figure out the GOP agenda. I'm afraid many of them are on the same team.

[outofsalt]

The fairtax concept, a major rethinking of how we pay for government, would spur saving and investment and repatriation of money to America!

[ctdonath2]

We’d have to cut federal spending 50% across the board to pay this debt off in 30 years.
Ain’t no way recipients of gov’t spending would stand for it.

Next step is hyperinflation, then war. Stock up, folks.