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Posted on 05/22/2012 9:59:08 AM PDT by Scotsman
I am gobsmacked by this entire thread for several reasons! Thanks for the post and your obvious acute insight Scotsman.
You were hitting the bullseye years ago, I knew it then, whatever the attackers said to the contrary.
Nully - take a look at ex-Texan’s “Looky Looky” link and the comment it refers to!
!!!!!!!!!!!!!!!
There is a way out for the US: we can produce enough real wealth to offest the debt. How? We have more than enough rught under Federally owned land, in the form of oil and coal. Not only should we not spend a penny on overseas sources of energy, we should be the world’s largest exporter. The US Geological Survey just put out a report detailing the vast amounts of oil shale in the US. In one area known as the Green River formation, there are 3 trillion barrels of oil. About a third is concentrated in relatively small areas of federal land. It’s estimated with oil at $100 a barrel Between 30-60% of that could be recoverd. Assuming the midpoint is correct, that’s $45 trillion in oil. The only thing we need is the political will to push aside the global warming scammers and do it.
I second that amen!
Well put.
Thx thx.
Thanks for the ping!
Nice job!
Neither choice we have in November is going to do anything more than continue the debt/inflation cycle with as many different sorts of QE as can be imagined. And that is the best case scenario.
Events, domestic and foreign, that should have been managed from the Oval Office over the past three and a half years (some longer) weren't, and that is on the shoulders of the current occupant, who apparently doesn't have the good sense to run from a burning building and call the fire department. Those events are now out of control, and while additional QE will be attempted (if there's time), ultimately the next person to hold the office of President will have to deal with the debt repudiation cycle.
Like it or not, there's two reasons I will vote for the left mitten ...
... he is an American and he will have the good sense to leave a burning building, economically speaking.
There are other reasons too, of course.
I just can not think of them right now.
However within the context of my post, mittens has more of the personal characteristics and real-world experience needed now.
For instance, of the two, which one do you want managing the Middle East War, the collapse of the European political/financial system, civil unrest here in our inner cities for certain, and the Washington Correspondent's Dinner?
Sorry for the late reply, Jim. I don't normally post and run - begorrah, I don't normally post ... :)
Best to you and yours from a 20 square mile, easily defensible area of a state that might not be a state in a country that might not be a country, with water and gas wells, thriving game population, agriculture and a self-sufficient, small population base.
The anarchists will run out of fuel in the first few days and none of them are in shape to hike the miles they'd have to, should the ‘smartest guys in the room’ suddenly discover they're not and loose control.
:)
Gerald Celete -- Apocalypse Now. The System is Falling Apart (World Economy, Iran, China, USD)
A Freaking Man Made Designer Flu Is Coming
Very good excuses to use all those those thousands of Looky Looky final salute devices in storage all over the U.S. that I mentioned earlier in # 15
LOL !
All government debt throughout the world is ‘unsecured’ - what is the ‘full faith and credit’ of a sovereign government that can not pay it's debt? What, then, is the debt of that sovereign worth to an investor?
When that happens, the government bonds already issued and held by investors begin to fall in current cash value (what it can be sold for today versus the originally paid issue price) and that government finds itself having to pay interest rates on newly issued 10 year bonds that make your 29.99% credit card look like free money.
Take a look at the Greek, Portugese, Spanish and Italian 10 year bond rates - the higher the interest, the more trouble the country is in.
Conversely, the United States and German 10 year bonds are trading at or near all time record low interest rates. For now.
Further explanation of the reasons for the US 10 year being where it is can be found in a post I made on September 11, 2011 -
http://www.freerepublic.com/focus/f-chat/2776797/posts
So far, I've seen nothing since that post to cause me to change anything in it.
The Greeks are not thieves, but their sovereign government is bankrupt.
“Our US debt regime is not dependent on little, kleptocratic debt regimes of southern Europe”, but it is dependent on the world's largest financial institutions, and we are going to loose some, part, or all of them before this is over.
:)
Thank you. :)
Thanks, Laz ... :)
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