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Originally posted by NWRHINO
March 9th, 1933 - the US federal government declares bankruptcy
Originally posted by Blagojevich
You're right, lack of government oversight is what allowed this to occur. Of course, this logic is what conservatives and libertarians will not allow you to believe, as this contradicts their failed ideology.
Be very careful with the "US taxpayer money going abroad" complaints. The financial systems are more intertwined than that simplistic self centered attitude implies. It was , after all, the default of the US sub-prime toxic loans that triggered the current worldwide collapse. NB I said TRIGGER not the single cause. The cause of the collapse was the worldwide trade in artificial (computer based) money between banks OF MANY COUNTRIES. All these banks owned, traded, borrowed, lent etc money between many countries.
Originally posted by spitefulgod
reply to post by j2000
Hold on, don't you lot owe $10Trillion to the rest of the world, I'm sorry you ran up the debt, you pay it back, maybe selling those SUVs and moving to smaller houses may help or better yet overthrow your incompetent government. The only way out of debt is to pay it off as quick as you can and make sacrifices, either that or go for war or just decide not to pay and face the consequences.